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    "unit": "iso4217:EUR"
   }
  },
  "f-394": {
   "value": "-6000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-395": {
   "value": "-309000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:ComprehensiveIncome",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-396": {
   "value": "242957523.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:NumberOfSharesOutstanding",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "unit": "xbrli:shares"
   }
  },
  "f-397": {
   "value": "246000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-398": {
   "value": "1595000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:SharePremiumMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-399": {
   "value": "-626000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-400": {
   "value": "2106000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-401": {
   "value": "3321000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-402": {
   "value": "750000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:NoncontrollingInterestsMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-403": {
   "value": "4071000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:Equity",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-404": {
   "value": "0.42",
   "decimals": 2,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-06-01T00:00:00/2025-07-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-405": {
   "value": "103000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:DividendsPaid",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:RetainedEarningsMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-406": {
   "value": "0.4",
   "decimals": 2,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2024-06-01T00:00:00/2024-07-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "f-407": {
   "value": "25000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "valeo:ProgrammeDeRachatDActionsTotal",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-06-17T00:00:00/2025-06-18T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-408": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"ie57f8e459ba04b0f889585cf1c07f1f6\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps29232\"><span style=\"display:inline-block;height:13.55pt;width:39.47pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Principes </span><span class=\"f charStyle-26f8f9e5 ps29234\">c</span><span class=\"f charStyle-26f8f9e5 ps29235\">omptables<span class=\"f ps53\"> </span></span></div><div class=\"ps29236 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Les \u00e9tats financiers consolid\u00e9s du groupe Valeo pour<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:61.65pt\">l\u2019exercice clos le <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29237\" style=\"width:67.46pt\">31 d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps29238\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps18872\" style=\"width:55.81pt\">comprennent\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps29240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:144.35pt\">les \u00e9tats financiers de la soci\u00e9t\u00e9 Valeo\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps11975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:123.42pt\">les \u00e9tats financiers de ses filiales\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps11976 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">la quote-part dans l\u2019actif net et dans le r\u00e9sultat des soci\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.23pt\">mises en \u00e9quivalence (coentreprises et entreprises</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps11980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:37.85pt\">associ\u00e9es)</span><span class=\"f charStyle-165dec60 ps29241\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:20.89pt\">Valeo</span><span class=\"f charStyle-165dec60 ps11608\" style=\"width:208.43pt\"> est une entreprise technologique, partenaire de long</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">terme des constructeurs automobiles et nouveaux acteurs</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">de la mobilit\u00e9 auxquels elle fournit des solutions et des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">syst\u00e8mes innovants. Structur\u00e9 autour de trois Divisions,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29244 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">Valeo joue un r\u00f4le essentiel dans l\u2019\u00e9laboration de la voiture</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29245 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">de demain, \u00e9lectrifi\u00e9e, plus s\u00fbre et d\u00e9finie par le logiciel. Le</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">Groupe s\u2019appuie sur son empreinte industrielle mondiale et</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">son leadership technologique dans l\u2019\u00e9lectrification, les</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">syst\u00e8mes avanc\u00e9s d\u2019aide \u00e0 la conduite, l\u2019\u00e9clairage et les</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">logiciels pour capter une part croissante de la valeur par</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps7287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:33.06pt\">v\u00e9hicule.</span></div><div class=\"ps29236 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20.89pt\">Valeo</span><span class=\"f charStyle-165dec60 ps29251\" style=\"width:31.87pt\"> est une </span><span class=\"f charStyle-165dec60 ps29252\" style=\"width:74.77pt\">soci\u00e9t\u00e9 europ\u00e9enne</span><span class=\"f charStyle-165dec60 ps29253\" style=\"width:101.71pt\">, cot\u00e9e \u00e0 la Bourse de Paris,</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps29239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.57pt\">dont le si\u00e8ge social est situ\u00e9 au </span><span class=\"f charStyle-165dec60 ps29254\" style=\"width:107.67pt\">100, rue de Courcelles, 75017</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps29257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.02pt\">Paris, </span><span class=\"f charStyle-165dec60 ps29255\" style=\"width:25.98pt\">France</span><span class=\"f charStyle-165dec60 ps29256\" style=\"width:1.59pt\">.</span></div><div class=\"ps29260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:180.66pt\">Les comptes consolid\u00e9s de Valeo de l\u2019exercice </span><span class=\"f charStyle-cea761f8 ps29258\" style=\"width:16.98pt\">2025</span><span class=\"f charStyle-cea761f8 ps29259\" style=\"width:31.69pt\"> ont \u00e9t\u00e9</span><span class=\"f charStyle-cea761f8 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps29262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:147.46pt\">arr\u00eat\u00e9s par le Conseil d\u2019administration le </span><span class=\"f charStyle-cea761f8 ps19887\" style=\"width:52.44pt\">26 f\u00e9vrier 2026</span><span class=\"f charStyle-cea761f8 ps29261\" style=\"width:29.34pt\">. A cette</span><span class=\"f charStyle-cea761f8 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps29263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:229.3pt\">date, les proc\u00e9dures d\u2019audit ont \u00e9t\u00e9 effectu\u00e9es et un rapport des</span><span class=\"f charStyle-cea761f8 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps29264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:184.65pt\">commissaires aux comptes est en cours d\u2019\u00e9mission.</span></div><div class=\"ps12279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Ils seront soumis \u00e0 l\u2019approbation de la prochaine Assembl\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29265 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:133.93pt\">g\u00e9n\u00e9rale ordinaire des actionnaires.</span></div><div class=\"ps29268 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">1.1<span id=\"ia790e242a88542f08485df92ba40db72\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29266\"><span style=\"display:inline-block;height:10.16pt;width:31.55pt\"></span></span></span><span class=\"f charStyle-25177d68 ps29267\">R\u00e9f\u00e9rentiel appliqu\u00e9<span class=\"f ps53\"> </span></span></div><div class=\"ps29271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:72.02pt\">Les \u00e9tats financiers<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29269\" style=\"width:18.57pt\"> sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29270\" style=\"width:138.7pt\"> \u00e9tablis conform\u00e9ment au r\u00e9f\u00e9rentiel<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.56pt\">IFRS publi\u00e9 par l\u2019<span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps29272\" style=\"width:164.72pt\">International Accounting Standards Board<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29275 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:178.58pt\">(\u00ab\u00a0IASB\u00a0\u00bb) tel qu\u2019approuv\u00e9 par l\u2019Union eur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29274\" style=\"width:50.73pt\">op\u00e9enne. Ce<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">r\u00e9f\u00e9rentiel est consultable sur le site internet de la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:97.1pt\">Commission europ\u00e9enne\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-47cc131c ps29277\" style=\"width:4.95pt\"><span class=\"f ps53\"> </span><sup>(1)</sup></span><span class=\"f charStyle-165dec60 ps29278\" style=\"width:1.59pt\">.</span></div><div class=\"ps29280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">Par ailleurs, les \u00e9tats financiers sont compl\u00e9t\u00e9s par les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:49.13pt\">informations </span><span class=\"f charStyle-165dec60 ps29281\" style=\"width:180.15pt\">jug\u00e9es significatives requises par le r\u00e8glement</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:90.2pt\">ANC n\u00b0 2016-09 modifi\u00e9.</span></div><div class=\"ps29286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.1<span id=\"i9e45405271f649e4bde5fdc1f40de4b4\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29284\"><span style=\"display:inline-block;height:8.71pt;width:18.76pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Normes, amendements et interpr\u00e9tations adopt\u00e9s par l\u2019Union europ\u00e9enne et appliqu\u00e9s </span></div><div class=\"ps29291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">par\u00a0le\u00a0Groupe \u00e0 compter du 1</span><span class=\"f charStyle-31ba0db9 ps29288\"><sup>er</sup></span><span class=\"f charStyle-b11f9a65 ps29289\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b11f9a65 ps29290\">janvier 2025</span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:358.87pt\">Les amendements \u00e0 la norme IFRS suivante s'appliquent de mani\u00e8re obligatoire \u00e0 compter du 1</span><span class=\"f charStyle-47cc131c ps29292\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps29293\" style=\"width:50.31pt\"> janvier 2025 :</span></div><div class=\"ps29295 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:330.75pt\"></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1911\"><div><div class=\"ps29294 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IAS 21<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss1913\"><div><div class=\"ps29294 ss1912\"><span class=\"f charStyle-a696f64a ps10\">Absence de convertibilit\u00e9<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps20369 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:322.86pt\">Ces amendements n'ont pas eu d\u2019incidence sur les comptes consolid\u00e9s du Groupe au </span><span class=\"f charStyle-165dec60 ps29296\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps9299\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps29297\" style=\"width:1.96pt\"> </span></div><div class=\"ps29300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:296.03pt\">Par ailleurs, le Groupe a choisi d\u2019appliquer de mani\u00e8re anticip\u00e9e \u00e0 compter du 1</span><span class=\"f charStyle-47cc131c ps29299\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps5714\" style=\"width:153.18pt\"> janvier 2025 les amendements suivants :</span></div><div class=\"ps29301 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:330.75pt\"></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1911\"><div><div class=\"ps29294 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IFRS 7 et IFRS 9<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss1913\"><div><div class=\"ps29294 ss1912\"><span class=\"f charStyle-a696f64a ps10\">Comptabilisation des contrats d\u2019\u00e9lectricit\u00e9 renouvelable<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:309.93pt\">Ces amendements n'ont pas eu d\u2019incidence sur les comptes consolid\u00e9s de Valeo au </span><span class=\"f charStyle-81f42323 ps29302\" style=\"width:66pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps29303\" style=\"width:105.24pt\">. Leur application anticip\u00e9e a</span><span class=\"f charStyle-81f42323 ps1119\" style=\"width:1.78pt\"> </span></div><div class=\"ps29304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:481.22pt\">n\u00e9anmoins permis au Groupe de prendre en compte dans ses proc\u00e9dures internes les clarifications apport\u00e9es par ces amendements</span><span class=\"f charStyle-81f42323 ps11603\" style=\"width:1.78pt\"> </span></div><div class=\"ps27085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:416.07pt\">aux modalit\u00e9s d'application de l'exemption pour \u00ab usage propre \u00bb pour les contrats d'achat d'\u00e9lectricit\u00e9 renouvelable.</span></div><div class=\"ps29306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.2<span id=\"i0b8b2ac7d53e44f294c6ea398435e542\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29305\"><span style=\"display:inline-block;height:8.71pt;width:16.97pt\"></span></span><span class=\"ps29285\">Normes, amendements et interpr\u00e9tations adopt\u00e9s par l\u2019Union europ\u00e9enne et d\u2019application </span></span></div><div class=\"ps29311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">obligatoire aux exercices ouverts \u00e0 compter du 1</span><span class=\"f charStyle-31ba0db9 ps29307\"><sup>er</sup></span><span class=\"f charStyle-b11f9a65 ps29308\"> janvier </span><span class=\"f charStyle-b11f9a65 ps29309\">2026</span><span class=\"f charStyle-b11f9a65 ps29310\"> \u00a0non anticip\u00e9s par le Groupe</span></div><div class=\"ps29313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:428.88pt\">L'IASB a \u00e9galement publi\u00e9 les normes, amendements et interpr\u00e9tations adopt\u00e9s par l'Union europ\u00e9enne suivants\u00a0:</span><span class=\"f charStyle-165dec60 ps29312\" style=\"width:1.96pt\"> </span></div><div class=\"ps29321 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:249.75pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.7pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps29314\">Date d\u2019application<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps513 ss1914\"><div><div class=\"ps6851 ss1604\"><span class=\"f charStyle-c942a721 ps10\">Amendements \u00e0 IFRS 9 et IFRS 7 </span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps24119 ss1916\"><div><div class=\"ps746 ss1915\"><span class=\"f charStyle-044fe383 ps10\">Clarification sur les principes de classement et d'\u00e9valuation <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss1915\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0certains actifs et passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-044fe383 ps29315\">1</span><span class=\"f charStyle-4da12822 ps12740\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25192\"> janvier 2026</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss1914\"><div><div class=\"ps6851 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Am\u00e9liorations annuelles Volume 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29316 ss1916\"><div><div class=\"ps746 ss1915\"><span class=\"f charStyle-a696f64a ps10\">Diverses dispositions des normes IFRS 1, IFRS 7, IFRS 9, IFRS 10 et <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss1915\"><span class=\"f charStyle-a696f64a ps10\">IAS 7<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23546 ss1917\"><div><div class=\"ps1259 ss1604\"><span class=\"f charStyle-c942a721 ps10\">IFRS 18 </span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29319 ss1918\"><div><div class=\"ps1259 ss1915\"><span class=\"f charStyle-044fe383 ps10\">Pr\u00e9sentation des \u00e9tats financiers et informations \u00e0 fournir</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29320 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps14030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">Valeo a r\u00e9alis\u00e9 une premi\u00e8re analyse des incidences de</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.27pt\">l'application d'IFRS 18 sur la pr\u00e9sentation de ses \u00e9tats</span><span class=\"f charStyle-9c680f66 ps415\" style=\"width:1.93pt\"> </span></div><div class=\"ps29323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.28pt\">financiers consolid\u00e9s. La classification des produits et charges</span><span class=\"f charStyle-9c680f66 ps610\" style=\"width:1.93pt\"> </span></div><div class=\"ps29324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">dans les cat\u00e9gories op\u00e9rationnelle, d\u2019investissement et de</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">financement d\u00e9finies par cette nouvelle norme modifiera la</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:200.55pt\">structure du compte de r\u00e9sultat consolid\u00e9 du Groupe.</span><span class=\"f charStyle-9c680f66 ps29326\" style=\"width:1.93pt\"> </span></div><div class=\"ps29328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Les produits et charges composant le co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financier net ne pourront par exemple plus \u00eatre agr\u00e9g\u00e9s au</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">sein d\u2019une ligne unique dans le compte de r\u00e9sultat consolid\u00e9</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">du Groupe. De m\u00eame, certains produits et certaines charges</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">actuellement pr\u00e9sent\u00e9s au sein du r\u00e9sultat financier devront</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:142.57pt\">\u00eatre report\u00e9s en r\u00e9sultat op\u00e9rationnel.</span></div><div class=\"ps8107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">L\u2019application de certaines dispositions de cette nouvelle</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps8109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">norme font encore l\u2019objet de discussions entre les parties</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">prenantes \u00e0 ce jour, notamment au sein de l\u2019IFRIC. Valeo suit</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">avec attention l\u2019\u00e9volution de ces discussions. En l\u2019\u00e9tat des</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">analyses r\u00e9alis\u00e9es \u00e0 date, le Groupe n\u2019anticipe n\u00e9anmoins</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pas d\u2019incidence significative sur la pr\u00e9sentation des produits</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:193.84pt\">et charges qui composent sa marge op\u00e9rationnelle.</span></div><div class=\"ps14035 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Par ailleurs, l\u2019application de cette nouvelle norme donnera</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">lieu \u00e0 la pr\u00e9sentation d\u2019informations additionnelles dans les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps14038 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">notes aux \u00e9tats financiers consolid\u00e9s. Ces informations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">portent notamment sur la ventilation de certaines natures</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de charges op\u00e9rationnelles (exemple : amortissements,</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">avantages du personnel) par poste fonctionnel ainsi que sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">le rapprochement entre les mesures de performance</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">d\u00e9finies par la direction (MPM) et les sous-totaux inclus dans</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:119.82pt\">le compte de r\u00e9sultat consolid\u00e9.</span><span class=\"f charStyle-165dec60 ps29336\" style=\"width:1.96pt\"> </span></div><div class=\"ps8107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Le Groupe n\u2019anticipe pas d\u2019incidence significative li\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps8109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">mise en \u0153uvre des autres normes et amendements publi\u00e9s</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:205.67pt\">par l\u2019IASB non encore adopt\u00e9s par l\u2019Union europ\u00e9enne.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.3<span id=\"i136fe90c76414f289c4c1956a4001329\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29337\"><span style=\"display:inline-block;height:8.71pt;width:16.96pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Normes, amendements et interpr\u00e9tations publi\u00e9s par l\u2019</span><span class=\"f charStyle-b8a0a0c4 ps29338\">International Accounting </span></div><div class=\"ps10410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b8a0a0c4 ps29287\">Standards\u00a0Board</span><span class=\"f charStyle-b11f9a65 ps29339\">\u00a0(IASB) non encore adopt\u00e9s par l\u2019Union europ\u00e9enne <span class=\"f ps53\"> </span></span></div><div class=\"ps29340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:418.67pt\">L\u2019IASB a publi\u00e9 les normes et amendements suivants qui n'ont pas encore \u00e9t\u00e9 adopt\u00e9s par l'Union europ\u00e9enne :</span></div><div class=\"ps29343 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:270pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps9769\">Date d\u2019application*<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1370\"><div><div class=\"ps746 ss133\"><span class=\"f charStyle-ae6044e9 ps10\">IFRS 19<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29341 ss1921\"><div><div class=\"ps746 ss1920\"><span class=\"f charStyle-a696f64a ps10\">Filiales sans responsabilit\u00e9 publique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1370\"><div><div class=\"ps746 ss133\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IAS 21<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29342 ss1921\"><div><div class=\"ps746 ss1920\"><span class=\"f charStyle-a696f64a ps10\">Conversion dans une monnaie de pr\u00e9sentation hyperinflationniste<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps29344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:2.5pt\">*<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps6588\" style=\"width:166.47pt\">Sous r\u00e9serve de l\u2019adoption par l\u2019Union europ\u00e9enne.</span></div><div class=\"ps8985 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:422.72pt\">Valeo n'anticipe pas \u00e0 date d'incidence significative sur les comptes consolid\u00e9s du Groupe li\u00e9e \u00e0 ces publications.</span></div><div class=\"ps29346 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">1.2<span id=\"i29ccddb4e2b349c48ed5777585537ddf\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29345\"><span style=\"display:inline-block;height:10.16pt;width:29.47pt\"></span></span><span class=\"ps408\">Bases de pr\u00e9paration</span></span></div><div class=\"ps14905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Les \u00e9tats financiers sont pr\u00e9sent\u00e9s en euros et sont arrondis<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14906 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">au\u00a0million le plus proche. Par cons\u00e9quent, certaines sommes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29347 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">de montants arrondis peuvent pr\u00e9senter des \u00e9carts non</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:149.08pt\">significatifs par rapport au total report\u00e9.</span></div><div class=\"ps29349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.2.1<span id=\"i174bef4ac39244a29345693463cb9d15\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29305\"><span style=\"display:inline-block;height:8.71pt;width:16.97pt\"></span></span><span class=\"ps29285\">Estimations et jugements</span></span></div><div class=\"ps19007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.27pt\">La pr\u00e9paration des \u00e9tats financiers n\u00e9cessite de la part de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps415\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.3pt\">Valeo, d\u2019effectuer des estimations et de faire des hypoth\u00e8ses<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps608\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.26pt\">susceptibles d\u2019avoir un impact tant sur les montants des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps410\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6371 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.28pt\">actifs et des passifs que sur ceux des produits et des charges.</span><span class=\"f charStyle-d77d7991 ps610\" style=\"width:1.91pt\"> </span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.28pt\">Ces estimations et hypoth\u00e8ses concernent \u00e0 la fois les risques</span><span class=\"f charStyle-d77d7991 ps610\" style=\"width:1.91pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.29pt\">sp\u00e9cifiques li\u00e9s au m\u00e9tier d\u2019\u00e9quipementier automobile</span><span class=\"f charStyle-d77d7991 ps425\" style=\"width:1.91pt\"> </span></div><div class=\"ps6374 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.3pt\">(risques relatifs aux normes de qualit\u00e9 et de s\u00e9curit\u00e9) et les</span><span class=\"f charStyle-d77d7991 ps608\" style=\"width:1.91pt\"> </span></div><div class=\"ps6375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.33pt\">risques plus g\u00e9n\u00e9raux auxquels le Groupe est expos\u00e9 du fait</span><span class=\"f charStyle-d77d7991 ps412\" style=\"width:1.91pt\"> </span></div><div class=\"ps6376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:214.53pt\">de son activit\u00e9 industrielle dans un contexte international.</span></div><div class=\"ps29350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Pour l\u2019exercice de son jugement, le Groupe se fonde sur son</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">exp\u00e9rience pass\u00e9e et sur l\u2019ensemble des informations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">disponibles consid\u00e9r\u00e9es comme d\u00e9terminantes au regard de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps15799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">son environnement et des circonstances. Les estimations et</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps15801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">hypoth\u00e8ses utilis\u00e9es sont r\u00e9examin\u00e9es de fa\u00e7on continue.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps15802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">En\u00a0raison des incertitudes inh\u00e9rentes \u00e0 tout processus</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">d\u2019\u00e9valuation, il est possible que les montants d\u00e9finitifs qui</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">figureront dans les futurs \u00e9tats financiers de Valeo soient</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:169.72pt\">diff\u00e9rents des valeurs actuellement estim\u00e9es.</span></div><div class=\"ps15806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.28pt\">Les estimations, les jugements ainsi que les hypoth\u00e8ses</span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> </span></div><div class=\"ps15807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.26pt\">pr\u00e9sentant un caract\u00e8re significatif qui ont \u00e9t\u00e9 retenus par le</span><span class=\"f charStyle-bd9dab06 ps410\" style=\"width:1.81pt\"> </span></div><div class=\"ps19019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.28pt\">Groupe pour l\u2019\u00e9tablissement des \u00e9tats financiers pour l\u2019exercice</span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> </span></div><div class=\"ps19021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:26.77pt\">clos au </span><span class=\"f charStyle-bd9dab06 ps29353\" style=\"width:65.06pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-bd9dab06 ps29354\" style=\"width:103.26pt\"> portent principalement sur :</span></div><div class=\"ps19863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">les conditions de capitalisation des frais de d\u00e9veloppement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19864 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:12.77pt\">(cf. </span><span class=\"f charStyle-165dec60 ps29355\" style=\"width:38.97pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps29356\" style=\"width:74.04pt\">, pages 399 et 400)\u00a0;</span></div><div class=\"ps29359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:139.33pt\">l\u2019estimation des provisions (cf. Notes </span><span class=\"f charStyle-165dec60 ps29357\" style=\"width:10.37pt\">6.3</span><span class=\"f charStyle-165dec60 ps29358\" style=\"width:72.47pt\">, pages 406 \u00e0 411 et</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:9.07pt\">8.1</span><span class=\"f charStyle-165dec60 ps29360\" style=\"width:73.4pt\">, pages 423 et 424)\u00a0;</span></div><div class=\"ps29361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.16pt\">les dur\u00e9es des contrats de location en ce qui concerne les</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">p\u00e9riodes optionnelles ainsi que la d\u00e9termination des taux</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:69.46pt\">d\u2019actualisation (cf. </span><span class=\"f charStyle-165dec60 ps8581\" style=\"width:30.54pt\">Note 7.3<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29363\" style=\"width:67.32pt\">, pages 416 \u00e0 418)\u00a0;</span></div><div class=\"ps29365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">l\u2019\u00e9valuation de la valeur recouvrable des immobilisations</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:116.18pt\">incorporelles et corporelles (cf. </span><span class=\"f charStyle-165dec60 ps29366\" style=\"width:31.27pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps29367\" style=\"width:68.34pt\">, pages 419 \u00e0 422)\u00a0;</span></div><div class=\"ps4942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">les perspectives d\u2019utilisation des actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:12.77pt\">(cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29355\" style=\"width:33.82pt\">Note 10.2</span><span class=\"f charStyle-165dec60 ps4205\" style=\"width:72.84pt\">, pages 443 et 444).</span></div><div class=\"ps29370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.2.2<span id=\"i0be72bf365ab4776a222ee06dff4a76f\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29369\"><span style=\"display:inline-block;height:8.71pt;width:15.18pt\"></span></span><span class=\"ps29285\">Continuit\u00e9 d'exploitation et </span></span></div><div class=\"ps29371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">gestion\u00a0de\u00a0la\u00a0liquidit\u00e9 du Groupe</span></div><div class=\"ps5299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Les \u00e9tats financiers sont pr\u00e9par\u00e9s en application du principe<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps5300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de continuit\u00e9 d'exploitation. Le Groupe dispose d'une</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps5301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:53.57pt\">tr\u00e9sorerie et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps29372\" style=\"width:175.7pt\">de sources de financement suffisantes et a</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps5302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:80.44pt\">d\u00e9montr\u00e9 sa capacit\u00e9</span><span class=\"f charStyle-165dec60 ps29373\" style=\"width:82.69pt\"> \u00e0 \u00e9mettre de la dette.</span><span class=\"f charStyle-165dec60 ps29374\" style=\"width:1.96pt\"> </span></div><div class=\"ps7269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.42pt\">Au </span><span class=\"f charStyle-165dec60 ps29375\" style=\"width:67.56pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps15012\" style=\"width:68.85pt\">, Valeo dispose de </span><span class=\"f charStyle-165dec60 ps29376\" style=\"width:8.85pt\">1,6</span><span class=\"f charStyle-165dec60 ps29377\" style=\"width:71.65pt\">\u00a0milliard d'euros de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps7270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">lignes de cr\u00e9dit non tir\u00e9es ainsi que d'une structure</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps7271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:65.65pt\">financi\u00e8re stable\u00a0:</span></div><div class=\"ps2191 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:10.79pt\">2,4</span><span class=\"f charStyle-165dec60 ps10843\" style=\"width:140.1pt\"> milliards d'euros de Tr\u00e9sorerie nette ;</span></div><div class=\"ps29380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:126.57pt\">maturit\u00e9 moyenne de la dette de </span><span class=\"f charStyle-165dec60 ps29378\" style=\"width:10.76pt\">3,4</span><span class=\"f charStyle-165dec60 ps29379\" style=\"width:18.66pt\"> ans ;</span></div><div class=\"ps29381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.23pt\">ratio financier (endettement financier net / EBITDA Ajust\u00e9</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29384 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:114.72pt\">calcul\u00e9 sur 12 mois glissants) \u00e0 </span><span class=\"f charStyle-165dec60 ps29382\" style=\"width:8.51pt\">1,3</span><span class=\"f charStyle-165dec60 ps29383\" style=\"width:98.73pt\">, inf\u00e9rieur \u00e0 la limite de 3,5.</span></div><div class=\"ps29385 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.29pt\">Dans sa gestion du risque de liquidit\u00e9, le Groupe veille \u00e0 r\u00e9partir</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps29386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:215.26pt\">les \u00e9ch\u00e9ances de remboursement de sa dette \u00e0 long terme.</span></div><div class=\"ps29388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-22e622cc ps448\">\u00c9CH\u00c9ANCIER CONTRACTUEL DES DETTES <span id=\"id19b5bed3e724315849da3be4cecec8e\"></span></span></div><div class=\"ps29389 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-22e622cc ps448\">FINANCI\u00c8RES\u00a0\u00c0\u00a0LONG TERME</span></div><div class=\"ps29390 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-a8abcdde ps448\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div><div class=\"ps29391 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ps407\"><div class=\"ps1\"><img alt=\"2769\" id=\"i-781\" 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zX2hDRkAw+roGi8tTVuw8zO5ituP0Rbs8NZy0WMyxjaLh7dfWOO80jxPNJKuA0pTgxbtzKKNWfRujaEzYrDelfPzny9Ng3+QkAEwEuamd2skYM+q8dYycyDYaaUZqb898Gu8jiFEXleaJyY8rDSj9kcN23dzmRgGIwan3TaTs+gQEDVn8bD3E20WJGQAjJK57d0aidQBGWOJoSwOyugnHmL+sQyQkAGzmnZVOX9GKZssKn/PvYuXTfdf7T+90wAYB436AQAkZAAAEjIAACRkAAASMgAAFhK9LAHm0bSry3tmzJjjcAr3n/q37Ldmea8tAxOPGjIAAAkZAICEDAAACRkAgIQMAICFRC9LACacaVeVDWeU8sdF6E+6cL81yka2DPNKDRkAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABgdAzjw8UfWmOdMd6/ucbvWz8vU2P7Gg+qcUaNC8f5e9bLz15kNwIAJGSzenWNt4/x/vtbCdlGNX7YSeC+UGPPGvcO+PyTaryvxhNqfKXGS+1GAICEbFZn1TiqM2+xVuL0uZwuVeNbmYztXuOkGofn6z/UOKSzjiVqfKLG62pMr3Fsjc/ahQAACdnsvpnRFrckd8n5f8t5z6vxiBqn1Tgs572xxpk13lbj02XWWrIv1nh5jYvzs+fZfQCA+WFUGvW/Iaefac3bMacnteadXePGGmvU2Lw1f5dMxq6uMVUyBgBIyObOlBpPL01j/XbytUlOL2/Nm1Hjiny9aU6jFnH/fP3u0tzqXMmuAwDML0uOwP+4TyaeX+jMf3BOb+vMv7Xz/uNqrJuvD62xdL7+VY19S9NmDQBAQjZA1GTF7cZ/1Th6wP8+vTN/euf9bXL6yxp75LqeWePjOW+zGv9nVwIA5tWw37J8VY1JNX5Q4/rOe72asOU78yfl9JacrpbTc2v8ucZlNT5V45gaK9TY224EAEjI+othKl6br4/t8/4lOZ3cmT+58/6M1vraeg37N7IbAQASsv6eXZq2X9FG7MQ+75+a0y1a81Ytzbhk99Q4vZOYTel8fpWc3mo3AgAkZP31hrqIkfjv7PP+l2vcXZr2YL2R+uP2Ywwie0KNG3Le90rTruzJNTbOecvVeFG+/qndCAC4L4a1UX/Uej0hX584YJnLauxX48DSPMMyBnyNHpXXlmaA2J4YFiMelTStxm9qnFyaITEeUpphNI6yGwEAErLZTWklSj8eY7kPZcL1itLcrvxiJl5XdJaL519eUOOVNR5emsb98WilGM3/brsRACAhm91xGePx1Yw5OSEDAGC+WlwRAABIyAAAJGQAAEjIAAAkZAAASMgAACRkAABIyAAAJGQAAEjIAAAkZAAASMgAAEbG0DxcfNrV5T0zZpQDFpk/qP4t+61Z3msXAwDmRA0ZAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgCAhAwAQEIGAICEDABAQgYAgIQMAEBCBgAgIVMEAAASMgAACRkAABIyAAAJGQAAEjIAAAkZAAASMgAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAID5Y7Eh+B82yVimxjU1TqlxZ5/llqgxtcaDa5xe4/867y9bY8sa69WYUePcjDlZvsaUGr8fwf0n/vdtaqxZY3qNs2tcOGDZWOZxNW6r8bMa/+q8v26NLWqsUOPm3I435HtL5WcHuanGOSP6Hd6oxqa5/15b4+Qad/RZbvEa29VYvcZva1zSeT++P4+tsX7+fO4YZfqIGlvl7/lljetHsNwXxnHn0fk7b63x8/yejKrY5zfO8r+qxq9q/LPPcktm+U+u8Zsal3Xen1Rj8xoPyWPSaTX+NuB3PiSPd9fnfj99xPOHtWo8psaKuU+emsegQdsrju9/qHFmn+9IbxtMyvPI+WP83g1r3F3jYgnZouXIGq+ocXnrC3NdjRfV+EVrufgy/qjGKrkR4+T+nhofbX0pL88v9z8yKXhQHmSfnSf8rpVrvLPGXnmgfcqIfRkjwfpLfjEicVop47tZ/u2D48trHJbltEYmB9vXuDTf36fGwTWurnFXrvuenH9Ybr9rx/hbYlu+fwQPiIfW2KPGFTXuzaQ2tsVLavy4tdwDa/wwy/5PNR5fY1qND+T7/5X7//JZzpPyu/LrGs9qJVxxcvtijWfW+EkeiOO7tGeNo0eo3O/v484Danyzxta5TdbJxHrnGt8bwf3+2NzHL8tjSZTH32u8IBOznkiCf5rlGseabWu8LY81JbdLlP/tWdaTc9kP1tiv8ztfW+OgLP9182Jk+zxmjaI4pn85y/3O3B8jn3hXllP7QvCIGs+tcUYmZSfVeHGeO0ru75tnWU7KdcV2e14mem0vyN/7uRr7qlNbtDw8D2A9G+cOcm2eZHq+kSeiSfnzC/OEv21rmcfkCaeXqO6bV6yf6/N7H5snwahB+J8yHDWN82Kr1v++ZJ7go8z2by0zJZOzN7Zqu07N6Fk9T2rtA+nZeQX6iPxSr9sn9s6DwaojWv7r50mkZ4OsLbihta+HY7JGbMX8+dmZwE3t1L4s2fp579yWX2zNiwT5tlYtWtgtk+h1HXcW2HHn8EwY1m8tFye5W/K7M2qm5AVxz6MyIY59f+nW/Lg4vKDGcq0k4p4s855NWq+Xye9KlP92ne/G9EzCexcw545oMlxayezDOhd9p2TZPbY1f688PmyaPz8099t3tJaJ9SzbOabEeg7MnzfKRPp3panFjPc+MYyFuvgE//v/Uma9XfKHPFBNbn3pHpLZ+SfzZBK+np99Q+uzZ5aZVdC9DX5ljad3fucjs3YgrpTiVsMPcvlR9NvW/z49E7E7OmW2d877dP4cV0UfztqCLXPe1a3ahpInt1hmibwKvTevhrsRV1Bfm0Pt2TC7JGtWei6q8YU8WW2d89bIq9FPlZm3uL6TJ6r2FeZZZdZbMJ/JWp32tpyaFyGXdJKOpcvYt5SHzf153Fkqa4O+2Sr3WO69WZvzkhHc7/9c48bWz5EcfSmT081aSfMzany8zLyFf0weZ17f+uwFrdd3tRLhzVrzY/m4jXlU/hwXgR+rsWMmh6PoujLrLcO4COzdpWgfM+JC/IQy8xZk3LL/Sl7cLZHzLi6z3lE5PL8zj2olzZGUHdbZLhKyCaB38Lsnp0/N//PkznKn5HuLzWFd97Z+XrJV27Bzmb0d1Ki7Ow9q7TKLhOr0Tln1rqR2GGNdvarqewe8H4nxk2ocotj7lltv/39yHvi6+//JWX5LzGH/v6f189/yCrddC7RBTq8c8XJfUMedVbO8L+0s89e8ENncLj+w/BfL8i6tRPaUPCYN0quFPLtzDDu1c+F9cq7/qYp+4DH7oVmep/Q59qyWx/B+4iJyudY2iAuZXfJic6gvvocxIXtiZu+9hoPr5fSKznKXZ03CoCr/1fIq60eteXHLYdPM+iVjs9sky7RdZuuVWWu/StbURGw4h+0YX+yfDHj/9Znona3YZyu3m7Js2vv/5X32/6hhWWfAelbJq9L2toy2T0vnRcmkPOBGzcS3+hx0R7HcF8RxJ2qCpuf26HcCXMEu/5/yj84V57aSgX77fWyPaBLxoD7r+O/cx+NWWa8t2nK5TbrruTITtI0U/SzboLT23fXG2AZlQNnFvn98ae5AHThqBbjkkP0/j89alze3EqZV8sR++4ArqrgCvarPut6b6/hIa95OeQUWVapL5brjRPTOMr4emcPugDwp9W5Pxsli2VZZd08mq45xhbRHnvj79aSJW0MvyWWYKW4Bx22ad5eZPf4md/b3fvv/pX3W9e783nyocyB9XCZh0TYqGpt/JpcdZQvyuHNHnuCiw8AH8vtVWt+vm+z2/64FjjZfryszb/9G+cdtsLvHKP/ebee4tRwN/aPXYNyyfF/nwqTf96e3bVdV/P8WFxnRBCLa1Z01h2PPrZ33S5b9iaWpNYvG/y/u892RkE0g0UPsyKwZOLg1f9lMorrtvKaPUQbRY3L30rT1uKw1P7o8n5DJQBw0o1fhoZmURduRv4zwFzLK5DmlqUW8oVX27bJuu2eM/e+wPBG9ccD7u+fB9muOg7Ps50eVpsbwo535M/psg7H2/yfkye1tfRLiXu3CBXmFu20m0FeMaLnfH8ed19T4fo3zahxXZtYuxwntwhHf71fIC+RT8ljcLv9+x51+5R9tYaMhedz+fVNp2krGrci/3Ydj2KiJNqpRe75XZxuUcR57IjmOux4b5P4e+/Xzy+A7JENpmG5ZfiyvZl5SZm33Ehs6arOW6XMgDbd05q+UJ7YTcyfriXU8MJOu3lXwTXkAXarM2lB31KyVNSVxYPxGa/4NeSW5/IAT2a195ket19NqvLT0H99qqfzSf730H3doVEUniBguZKfOATBqVBbrsw0mDdj/o9YrupX/NL9Tbf9bmjHkPpnbKHoX3pXJyJojWu4L+rgTrsoLvpdlonZta7v+aMT3+0MyKXtZmbW9aZT/cmX2tnr9yj8SrxgmJmqDo11l3Db7RGs9ZYxj2C0OPf+uvY39/5WladvYPvaUMY497eN/1OifVJoaym1znz+mz/dHQjYB7JiJ0avK7AP//T2nkzvzJ+cBtHtl/9m8qt21z+9ZrE+Z3Zq1CBuP6JdxsTyRxBdxnz5XkNf1Kfsl8wTUvVUWB8IYwyZ66/xywO97QdbIfMlx8D+i0fHr8sry4nHu/6vkft79vhycV7ov71O7E4nYCZl8905qO+UJ8S0jWO7313GnZLLxi0xAjsyEOE5g54zwfh818rtkmf21T/kvXmZvezc5L6gHDf4aNb/R/GSH1kXlv/psx5XzOHbZiB974kLs0LyIOGEuvgOl9G8q0UvOjs/lRqrTyjAkZJOzZibaLX27z/tn5LTbXXazPJi1a1l2yhP+TmXmbbeeuzNrX6/P71hxhGtropo5hlh4Yek/Uvnv+pT9Jll7cHonSTs6lz9gDr8vvsi/lof958QQY4XFbd7jxtj/N++z//+hc5X63EzEonbyH53lo+YshnI4rTM/Eu6LRvCC5P467vTz6TwR7jnC+300tI9edzGsxYlzWf7dIV5KnwvGXtuzSJLPHLCe0jmGjeLFeBx7YiiLt/Z5//zcz7tl96i8KPndGOteKqcj9TSEYUjIPp+J0qAr9F/l1ejLW/PixBKNQI9tzevddntPn5NOz/ezNmKlTnKx9hg1OsMsTsIHZu3MoLYsUcbRLmDL1rzYFtEOpj2wYozw/NBMBgYNdbFNrkfbsZkOzZP46we8HyeMSzr7f9QwPrWz/6+W36VpWfPSdWsmX1v3uRiJgR0vHrFyvz+POz0PzKT7pVk7dNEI7/dH5H79jgHvR21ijG+4c2te7KdxO+yYMda7dR7T20+6iOVjEOxHdI5hsf6fj/A2eF2WSzTAv6vP+5GMfTMv1nvtyZbI/TfG77xxwHpXzAuUKN+R6iw30RskvqJ1YPpRnwPmcZmJvzavYuN22O/zIBoJxGdbmf5RmWhF1+enddYVjQuvz5qbeJRMPIbmE7mT7ddZ16joDX+weB70du68/+S8uozk6VW5Ld6XJ6V98uq+1/smkqx35xfw2M564oDXG3Cwl3R8Sx72b9FuI9pv/Cn3yba4rXV0boO982Lik1lz8KY8mR3SWT4a60fD8qmddUXNzTX5vYkTYdzCOT6/L2/Kg/GHRqjc7+/jTiRi0ftyl9xuW5Wxn/U37KKdaTwh5Y9l9kbfn8598+5MGOL4E7cn41bk23M7HJbLbp/bJGrbLytND79Xl2aYhre11hk1obvmtowL0A3zeLdTmb0X56jYML/zN7fKs+e3Wda9C+0zc5vEsf3ZeRF/T8U1AAAF5UlEQVTyvHw/2pNFe9VTchtEMrZbXiA+d9TKdyI/8ieqNKNB7aBxeL7eOUnFiSZ67cUtnrPyANe7PbB5mb39U1t05+11L187v6yPzp3llDzgjlr386l5ghjklWVmG6Tl84s5NZOwL+SVU09c5U4Zo4bn85kARk3CvXlAHtWnI5TWleZBZdba2rY4eXy3s73enCf3OCntX2beluyNrTfIW8rMBrrbZvnHAfmOPJkdnAnbKFgYx50VMhH+amna6Yzyvh/HgY+X/o3sw1fyBN8TSe4b8kR/Ru73vWP1lLxYjERslZwfx/NP9Tmer5jbLmrQbsl9/ocjvB32KYPbd52f26jnYVnucQfkr1mx0XtCQjSFiLavcfdj1cxJzsuLxX53XSbl9vlJfh8AAAAAAAAAAAAAAAAAAAAAgPtmCUUAAEwAMUj442ucPBefibHLYizLeNj8BYvyP7e47QsATAAx0v8z5vIz8USdXcusj+8L8QineAD6IyVkAMCi4jE1vlxjvRH5f2Ok/1PLIvTYNwkZAPD00jw0fZkR+X/jMXwvK80zvR+1KPxBS9oHAWAkPLw0z2P9S7nvD+6ONlnr5XouzgRnQYiKo3Vq3DjGMkvl/3Z3/m/jFc8wjWdTXy4hAwAWtCfVODKTqHtKUwsWD6//cr5/TGnaVIV4qPc1NVYfsK4H1fhOjcfVuC5/vrbGnjW+nctEjdM5Nd5S46DWZ+NzT66xwjj+5v+qcWCN3Wpcn0nXg2uc1VnuJaV52Ptd+X/dUZqHxv9sjHW/vcY7cvl/lqbhfzyY/tW5HgkZADBfPazG90vTVmpaznt9jS+WpjbpN6W5dXdRvr9hvh4kkqPP1dixxs01li9NL8ZIaNYtTUP5+SHaeG2VyeTvct75fRLNSCp3zt+/WI1DMjHcqMaVA9YdbceeWOPc/PlpNb5X48+l6cm5UGhDBgDD682ZmLQTjUMycdpzHtd5TCZj4fbS1FBFb8Zt5tPf/JTS9Kjct5WM9fOeGj/OZCzMqLFfaWrXdh3jc6e2krGS6zgrE7yFRg0ZAAyvp9b4aSYrpZW4RG3T5vdx3avV2DojTJrLz0ciNKX1c9xK/FqN55amTdp3xvhsJIAxJtnbOvOjrdkV4/zflq6xRY1NS3M79B8SMgBgQYgG8XFb8TWZ/PQi2n79eh7XGbf7PlCaW5QnluY25ryIhGty6+deg/xHZHJ05xifjTZu0a5sjRp752fi/9o4c5srx/jsiqW5PRvt5n5b47TStCVbqCRkADC8ojZsy0xQfl/j65n43DCP64vbiVGzdUCND9aYnknQO+dhXZ8dMH/pcSRIvRq/7WrckknVUfm/3TqHvOeXpWmyFbVjvR6W0dlg0sLcUBIyABhecfvukhrvmk/r2zeTmAMW4N98VSaRUQM2aHiOq2v8KxOxaXOZUMbtzGeURWS4ix6N+gFgeEVtVjRWX30Oy80YZ16wco2b5rBMr4ZqxXn8m39RmiEpdhhjmRieIp5p+bzStCcbr5VzetOitqEkZAAwvD5Smpqkb5Xm1mJYIZOddVrLXZbTaFC/1BjrO6k044w9YYxlLi1N7VO00Vo75y1Zxjf+WIhenHHrMXqDbpjzFuvzd+2XieZxrd8TCdfzS9Nurp9fZ3nsUWOJRWlDLWZfBYChFm2ljqixWWteNMTftTRjlIWokTq+NOOLjTUwbAwpcWiNnWqcV+O2XO91mYCdkctFz8ujSzMOWiR7DylNI/0TysxBaMcSCdbhNbbP5G5SJnTxu/dtLfffNT5d46GteX+t8czSDE4bo/FHB4FPtj73nBqfKU1Pzr/kMvHUgWjT9lYJGQCwIEWSNSUTrhgEdUafZVYtTUP9OTX6f0CNDUpT8xVt1AYNCBsJ2VqlafN1Sa57bqySf3PcBr24DO55uV4mfb3aufHkP/H3PzjL4+J5+NsAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAmKP/B1RLfjVPu6PbAAAAAElFTkSuQmCC\" style=\"height:130.39pt;width:229.6pt\"/></div></div></div><div class=\"ps29392 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:229.31pt\">Les flux futurs pr\u00e9sent\u00e9s ci-dessus, \u00e0 la fois les coupons et les</span><span class=\"f charStyle-776a1ec6 ps460\" style=\"width:1.7pt\"> </span></div><div class=\"ps29393 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:229.33pt\">remboursements du principal, ne sont pas actualis\u00e9s. Pour les</span><span class=\"f charStyle-776a1ec6 ps450\" style=\"width:1.7pt\"> </span></div><div class=\"ps29396 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:143.66pt\">int\u00e9r\u00eats variables, la courbe forward au </span><span class=\"f charStyle-776a1ec6 ps29394\" style=\"width:62.89pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-776a1ec6 ps29395\" style=\"width:22.71pt\"> a \u00e9t\u00e9</span><span class=\"f charStyle-776a1ec6 ps471\" style=\"width:1.7pt\"> </span></div><div class=\"ps29397 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:24.59pt\">utilis\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps29398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Le Groupe a r\u00e9alis\u00e9 plusieurs op\u00e9rations de financement au</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.4pt\">cours de l'exercice </span><span class=\"f charStyle-165dec60 ps29399\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29400\" style=\"width:132.21pt\">, notamment l'\u00e9mission de deux<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29402 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:229.29pt\">nouvelles obligations vertes en mai et septembre pour</span><span class=\"f charStyle-9206869b ps467\" style=\"width:1.9pt\"> </span></div><div class=\"ps29404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:106.25pt\">respectivement 650 millions</span><span class=\"f charStyle-165dec60 ps29403\" style=\"width:123.01pt\"> d\u2019euros \u00e0 \u00e9ch\u00e9ance mai 2031 et</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29408 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:16.12pt\">500 </span><span class=\"f charStyle-9206869b ps29405\" style=\"width:28.94pt\">millions</span><span class=\"f charStyle-165dec60 ps29406\" style=\"width:116.71pt\"> d\u2019euros \u00e0 \u00e9ch\u00e9ance mars 2032.</span><span class=\"f charStyle-165dec60 ps29407\" style=\"width:1.96pt\"> </span></div><div class=\"ps29409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">Les d\u00e9tails sur l'endettement financier du Groupe et les</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps29413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:85.91pt\">op\u00e9rations financi\u00e8res</span><span class=\"f charStyle-165dec60 ps29410\" style=\"width:83.78pt\"> significatives de </span><span class=\"f charStyle-165dec60 ps29411\" style=\"width:34.56pt\">l'exercice</span><span class=\"f charStyle-165dec60 ps29412\" style=\"width:25.07pt\"> sont</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29416 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.64pt\">pr\u00e9sent\u00e9s dans la </span><span class=\"f charStyle-165dec60 ps29414\" style=\"width:24.88pt\">Note 9</span><span class=\"f charStyle-165dec60 ps29415\" style=\"width:65.01pt\">, pages 424 \u00e0 441.</span></div><div class=\"ps29418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">1.3<span id=\"i055eca36450b4913b961616891e1fa68\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29417\"><span style=\"display:inline-block;height:10.16pt;width:29.45pt\"></span></span><span class=\"ps29267\">Prise en compte des </span></span></div><div class=\"ps29420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">cons\u00e9quences du changement <span class=\"f ps53\"> </span></span></div><div class=\"ps29421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">climatique</span></div><div class=\"ps29422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps448\">1.3.1<span style=\"display:inline-block;height:8.71pt;width:16.96pt\"></span></span><span class=\"ps17462\">Engagements de neutralit\u00e9 carbone</span><span id=\"if9a96fca613349e6ab2bb5f54524386c\"></span></span></div><div class=\"ps29423 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.25pt\">Valeo a d\u00e9velopp\u00e9 un plan ambitieux de contribution \u00e0 la</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps29425 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:37.14pt\">neutralit\u00e9 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29424\" style=\"width:192.18pt\">carbone, le Plan Cap 50, ax\u00e9 sur la pr\u00e9vention et la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">r\u00e9duction des \u00e9missions de gaz \u00e0 effet de serre. Ce plan vise</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:53.13pt\">\u00e0 contribuer </span><span class=\"f charStyle-367d076b ps29427\" style=\"width:176.12pt\">\u00e0 la neutralit\u00e9 carbone d'ici \u00e0 2050 avec un<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps689\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29430 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:79.55pt\">objectif interm\u00e9diaire<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29429\" style=\"width:33.5pt\"> en 2030.<span class=\"f ps53\"> </span></span></div><div class=\"ps29431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">Les objectifs de ce plan, les actions envisag\u00e9es ainsi que</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">leurs modalit\u00e9s de mise en \u0153uvre sont d\u00e9crites dans le</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29433 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">Rapport de durabilit\u00e9 du Groupe.</span></div><div class=\"ps29436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:25.61pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps29434\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps29435\" style=\"width:185.94pt\">, le Groupe n'a pas d'obligation juridique ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">implicite r\u00e9sultant de ses engagements de d\u00e9carbonation</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps29438 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">devant \u00eatre provisionn\u00e9e ou constitutive d'un passif</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29440 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:83.12pt\">\u00e9ventuel. Par ailleurs, </span><span class=\"f charStyle-81993cb5 ps29439\" style=\"width:146.14pt\">Valeo n'a pas identifi\u00e9 d'actif significatif</span><span class=\"f charStyle-81993cb5 ps471\" style=\"width:1.87pt\"> </span></div><div class=\"ps29442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:102.45pt\">dont la valeur ou la dur\u00e9e d</span><span class=\"f charStyle-165dec60 ps29441\" style=\"width:126.83pt\">'utilit\u00e9 serait impact\u00e9e du fait des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29444 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:101.49pt\">actions envisag\u00e9es dans le </span><span class=\"f charStyle-81f42323 ps29443\" style=\"width:127.77pt\">cadre de ce plan. Une telle situation</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps29446 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:119.5pt\">pourrait par exemple survenir</span><span class=\"f charStyle-165dec60 ps29445\" style=\"width:109.78pt\"> suite \u00e0 une d\u00e9cision de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29447 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">remplacer certains \u00e9quipements avant la fin de leur dur\u00e9e</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">d'utilit\u00e9 initiale au profit d'\u00e9quipements b\u00e9n\u00e9ficiant d'une</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29450 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:126.48pt\">efficacit\u00e9 \u00e9nerg\u00e9tique sup\u00e9rieure.</span><span class=\"f charStyle-165dec60 ps29449\" style=\"width:1.96pt\"> </span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps275\">1.3.2<span style=\"display:inline-block;height:8.71pt;width:15.17pt\"></span></span><span class=\"ps29285\">Risque physique</span><span id=\"idc4213379fae4a6b923e1860a999f605\"></span></span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Une augmentation de la fr\u00e9quence des \u00e9v\u00e8nements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">climatiques extr\u00eames et/ou chroniques (tels que des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">chaleurs extr\u00eames, du stress hydrique et des inondations)</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">pourrait, d\u2019une part, perturber, voire interrompre, certaines</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">op\u00e9rations \u00e0 diff\u00e9rents niveaux des cha\u00eenes de production et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">logistique, et, d\u2019autre part, d\u00e9grader les conditions de travail</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:51.32pt\">du personnel.</span></div><div class=\"ps29459 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:57.24pt\">Les principaux </span><span class=\"f charStyle-9c680f66 ps29458\" style=\"width:172.01pt\">risques auxquels est expos\u00e9 le Groupe du fait</span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> </span></div><div class=\"ps29461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:13.18pt\">des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29460\" style=\"width:3.62pt\"> </span><span class=\"f charStyle-81f42323 ps17419\" style=\"width:212.47pt\">effets physiques du changement climatique ainsi que le</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:36.71pt\">dispositif <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29462\" style=\"width:192.62pt\">global d'\u00e9valuation associ\u00e9 sont d\u00e9crits dans le</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Chapitre 4, section 4.1.2.3.3 Identification et \u00e9valuation des</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">impacts, risques et opportunit\u00e9s mat\u00e9riels relatifs au climat</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:76.42pt\">(cf. pages 223 \u00e0 246).</span></div><div class=\"ps4022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">Sur la base des audits d'adaptation au changement</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps4025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">climatique men\u00e9s \u00e0 ce stade, aucun impact significatif li\u00e9</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">aux risques physiques r\u00e9sultant du changement climatique<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">n\u2019a \u00e9t\u00e9 identifi\u00e9, que ce soit sur la dur\u00e9e d'utilit\u00e9 ou la valeur</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29465 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:36.71pt\">des actifs.</span></div><div class=\"ps29466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Les d\u00e9penses envisag\u00e9es \u00e0 moyen terme par les sites du</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29467 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Groupe pour mettre en \u0153uvre des mesures d'adaptation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29468 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">sont incluses dans les plans \u00e0 moyen terme sur la base</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps29469 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">desquels sont r\u00e9alis\u00e9s les tests de d\u00e9pr\u00e9ciation des unit\u00e9s</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29473 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:139.69pt\">g\u00e9n\u00e9ratrices de tr\u00e9sorerie et des </span><span class=\"f charStyle-e8054d08 ps29470\" style=\"width:37.45pt\">goodwill </span><span class=\"f charStyle-165dec60 ps29471\" style=\"width:16.03pt\">(cf. </span><span class=\"f charStyle-165dec60 ps29472\" style=\"width:34.53pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps20149\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:62.83pt\">pages\u00a0419 \u00e0 422).</span></div><div class=\"ps29475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps275\">1.3.3<span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps29285\">Risque de transition</span><span id=\"i1af67d63839444e586c5be70ca5e5621\"></span></span></div><div class=\"ps29476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Les risques et opportunit\u00e9s li\u00e9s \u00e0 la transition sont associ\u00e9s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">au rythme et \u00e0 la mesure dans lesquels une organisation</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">g\u00e8re et s\u2019adapte au rythme interne et externe du</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29479 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">changement pour r\u00e9duire les \u00e9missions de gaz \u00e0 effet de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:102.57pt\">serre. Ceux-ci sont d\u00e9crits </span><span class=\"f charStyle-165dec60 ps29480\" style=\"width:126.71pt\">dans le Rapport de durabilit\u00e9 du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.73pt\">Groupe.</span><span class=\"f charStyle-165dec60 ps29482\" style=\"width:1.96pt\"> </span></div><div class=\"ps29484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Compte tenu du portefeuille de solutions d'\u00e9lectrification</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29486 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:76.62pt\">dont dispose Valeo, </span><span class=\"f charStyle-9206869b ps29485\" style=\"width:152.7pt\">l'\u00e9volution vers une mobilit\u00e9 d\u00e9carbon\u00e9e</span><span class=\"f charStyle-9206869b ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps29488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:200.13pt\">constitue une source d'opportunit\u00e9 pour le Groupe. </span><span class=\"f charStyle-165dec60 ps29487\" style=\"width:29.14pt\">Si cette</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps21741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">\u00e9volution est belle et bien enclench\u00e9e, celle-ci s'op\u00e8re \u00e0 des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">rythmes diff\u00e9rents selon les r\u00e9gions du monde en fonction</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:156.62pt\">des politiques publiques mises en oeuvre.</span></div><div class=\"ps29490 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Face aux incertitudes li\u00e9es au rythme d\u2019adoption de la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19541 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">technologie \u00e9lectrique, le Groupe dispose d\u2019un mod\u00e8le</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19543 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">d\u2019affaires, d\u2019une organisation et d\u2019un portefeuille produits</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29491 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.45pt\">r\u00e9silient.</span><span class=\"f charStyle-165dec60 ps13028\" style=\"width:197.85pt\"> La majorit\u00e9 des produits d\u00e9velopp\u00e9s par les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29492 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">Divisions BRAIN et LIGHT, de m\u00eame qu\u2019une part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">substantielle des produits de la Division POWER sont</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29494 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">agnostiques au choix du mode de propulsion. Par ailleurs, le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29495 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">Groupe a engag\u00e9 ces derni\u00e8res ann\u00e9es un effort important</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29496 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">pour rationaliser l\u2019organisation de la Division POWER afin</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16185 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">d\u2019am\u00e9liorer l'efficacit\u00e9 et la flexibilit\u00e9 de son outil industriel et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21133 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">de sa Recherche et D\u00e9veloppement face aux incertitudes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps21134 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:111.03pt\">li\u00e9es \u00e0 la transition \u00e9lectrique.</span></div><div class=\"ps6932 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.26pt\">En parall\u00e8le, la croissance des ventes de v\u00e9hicules \u00e9lectriques,</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps6935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:36.04pt\">amorc\u00e9e </span><span class=\"f charStyle-165dec60 ps29497\" style=\"width:193.23pt\">depuis quelques ann\u00e9es, a \u00e9galement conduit \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:64.1pt\">l'\u00e9mergence de </span><span class=\"f charStyle-81f42323 ps29498\" style=\"width:163.63pt\">nouveaux acteurs, principalement en Chine</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:224.81pt\">dont les pratiques peuvent dans certains cas diff\u00e9rer d</span><span class=\"f charStyle-9206869b ps20000\" style=\"width:4.47pt\">e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:229.33pt\">celles des acteurs historiques, notamment en termes de</span><span class=\"f charStyle-9206869b ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps29499 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">d\u00e9veloppement produit et d'int\u00e9gration de la cha\u00eene de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29501 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:24.65pt\">valeur.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29500\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Le plan \u00e0 moyen terme, sur la base duquel sont r\u00e9alis\u00e9s les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">tests de d\u00e9pr\u00e9ciation des unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps21143 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.83pt\">des </span><span class=\"f charStyle-e8054d08 ps29504\" style=\"width:34.79pt\">goodwill </span><span class=\"f charStyle-165dec60 ps8977\" style=\"width:13.37pt\">(cf. </span><span class=\"f charStyle-165dec60 ps29505\" style=\"width:31.87pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps29506\" style=\"width:133.41pt\">, pages 419 \u00e0 422), a \u00e9t\u00e9 \u00e9labor\u00e9 en</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps21145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">tenant compte de l\u2019ensemble des opportunit\u00e9s et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps21147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">incertitudes li\u00e9s \u00e0 ces transformations. Il s'appuie sur des</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps21148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">projections de volumes de ventes et de mix clients</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps21149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">raisonnablement prudents et int\u00e8gre les implications</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29507 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">financi\u00e8res li\u00e9es \u00e0 l'\u00e9volution du mix des ventes en termes de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">d\u00e9penses de Recherche et D\u00e9veloppement et</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29510 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.66pt\">d'investissements.</span><span class=\"f charStyle-165dec60 ps29509\" style=\"width:1.96pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">La mise en \u0153uvre des actions qui seront entreprises par</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">Valeo pour r\u00e9duire ses \u00e9missions de scopes 1, 2 et 3 amont</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">dans le cadre de son Plan CAP 50 devrait \u00eatre progressive et</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:227.61pt\">donc sans impact brutal sur la structure de co\u00fbts du Groupe.</span></div><div class=\"ps4432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">Par ailleurs, pour les activit\u00e9s de la Division POWER, qui sont</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">concern\u00e9es par l\u2019\u00e9lectrification, une simulation a \u00e9t\u00e9 r\u00e9alis\u00e9e</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:125.99pt\">afin d'\u00e9valuer l'impact potentiel </span><span class=\"f charStyle-165dec60 ps29512\" style=\"width:103.33pt\">sur le test de d\u00e9pr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.25pt\">du </span><span class=\"f charStyle-e8054d08 ps29513\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-e8054d08 ps29514\" style=\"width:3.13pt\"> </span><span class=\"f charStyle-165dec60 ps29515\" style=\"width:180.66pt\">d'un sc\u00e9nario pessimiste en lien avec le risque</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:62.32pt\">de transition (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29516\" style=\"width:37.42pt\">Note 7.4.6</span><span class=\"f charStyle-165dec60 ps29517\" style=\"width:42.17pt\">, page 422).</span></div><div class=\"ps29518 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps448\">1.3.4<span style=\"display:inline-block;height:8.71pt;width:14.28pt\"></span></span><span class=\"ps17462\">Contrats d\u2019achat d\u2019\u00e9nergie renouvelable</span><span id=\"i714895f625cb4b1dbcdfe76ba1fb4efa\"></span></span></div><div class=\"ps29519 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Valeo a install\u00e9 des panneaux photovolta\u00efques sur le toit de</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">ses b\u00e2timents ainsi que sur les parkings d\u2019un certain nombre</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps26926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">de ses sites afin de couvrir une partie de leur consommation</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps26928 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u2019\u00e9lectricit\u00e9. Dans certains cas, ces installations</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">appartiennent \u00e0 un tiers vis-\u00e0-vis duquel le site s\u2019est engag\u00e9</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps26582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:179.01pt\">\u00e0 acheter tout ou partie de l\u2019\u00e9lectricit\u00e9 produite.</span></div><div class=\"ps26583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">Ces contrats ont fait l\u2019objet d\u2019une analyse pour d\u00e9terminer le</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">traitement comptable auquel ils sont soumis. Lorsque ces</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps5349 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">contrats ne donnent lieu qu\u2019\u00e0 des paiements variables, ce</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps5251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">qui est g\u00e9n\u00e9ralement le cas, ceux-ci sont trait\u00e9s comme de</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps5351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:93.4pt\">simples contrats d\u2019achat.</span></div><div class=\"ps5254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Le Groupe n\u2019a pas conclu d\u2019autres types de contrats</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps5255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u2019approvisionnement en \u00e9nergie renouvelable conduisant \u00e0</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps5354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:164.89pt\">la revente physique ou virtuelle d\u2019\u00e9lectricit\u00e9.</span></div><div class=\"ps29521 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps448\">1.3.5<span style=\"display:inline-block;height:8.71pt;width:15.13pt\"></span></span><span class=\"ps17462\">R\u00e9mun\u00e9rations</span><span id=\"i408439c440874bdebd8fbe2f83170f16\"></span></span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:229.27pt\">Les plans d'attribution d'actions gratuites aux dirigeants du</span><span class=\"f charStyle-b2f078f6 ps455\" style=\"width:1.83pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:22.96pt\">Group</span><span class=\"f charStyle-165dec60 ps29523\" style=\"width:151.97pt\">e mis en place en 2023, 2024 et 2025 (cf. </span><span class=\"f charStyle-165dec60 ps29524\" style=\"width:31.52pt\">Note 6.4</span><span class=\"f charStyle-165dec60 ps29525\" style=\"width:22.81pt\">, page</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">412) incluent un objectif d'empreinte carbone</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29528 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:149.39pt\">respectivement \u00e0 fin\u00a02025, 2026 et\u00a02027.</span></div><div class=\"ps16850 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Par ailleurs, une partie de la r\u00e9mun\u00e9ration variable des</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">cadres et dirigeants du Groupe est conditionn\u00e9e \u00e0 l\u2019atteinte</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps16166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">d\u2019objectifs extra-financiers quantitatifs et qualitatifs, dont</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29530 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:198.96pt\">notamment l'empreinte carbone du Groupe en 2025.</span></div><div class=\"ps29531 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">Pour l\u2019\u00e9tablissement des \u00e9tats financiers pour l\u2019exercice clos</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps29533 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:15.23pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-68ecf294 ps14957\" style=\"width:75.08pt\"><span style=\"background-color:inherit\">31\u00a0d\u00e9cembre 2025</span></span><span class=\"f charStyle-68ecf294 ps29532\" style=\"width:138.97pt\"><span style=\"background-color:inherit\">, Valeo a consid\u00e9r\u00e9 que l\u2019objectif</span></span><span class=\"f charStyle-68ecf294 ps458\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps29534 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">d'empreinte carbone serait atteint \u00e0 chacune des \u00e9ch\u00e9ances</span></span><span class=\"f charStyle-68ecf294 ps458\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps29535 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:45.12pt\"><span style=\"background-color:inherit\">concern\u00e9es.</span></span></div><div class=\"ps29536 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps448\">1.3.6<span style=\"display:inline-block;height:8.71pt;width:14.75pt\"></span></span><span class=\"ps17462\">Financements</span><span id=\"ieb324dd4a1c940598aec8bdd7b62bbc1\"></span></span></div><div class=\"ps15318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">En 2021 et 2022, Valeo a mis en place des financements</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.73pt\">index\u00e9s </span><span class=\"f charStyle-81993cb5 ps29537\" style=\"width:194.56pt\">sur un objectif d'empreinte carbone, y compris</span><span class=\"f charStyle-81993cb5 ps467\" style=\"width:1.87pt\"> </span></div><div class=\"ps29542 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:79.75pt\">\u00e9missions \u00e9vit\u00e9es, </span><span class=\"f charStyle-49b068b5 ps29539\" style=\"width:84.4pt\">de 37,95 Mt eq.CO</span><span class=\"f charStyle-d147fd40 ps29540\" style=\"width:10.08pt\">2 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b068b5 ps29541\" style=\"width:55.06pt\">en 2025. Un</span><span class=\"f charStyle-49b068b5 ps467\" style=\"width:1.86pt\"> </span></div><div class=\"ps29544 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps448\" style=\"width:58.03pt\">rehaussement </span><span class=\"f charStyle-c709af45 ps19356\" style=\"width:83.25pt\">de 0,1\u00a0% \u00e0 0,75\u00a0% d</span><span class=\"f charStyle-165dec60 ps29543\" style=\"width:88pt\">es taux d\u2019int\u00e9r\u00eats des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:143.82pt\">coupons de ces dettes post\u00e9rieurs au </span><span class=\"f charStyle-c709af45 ps29545\" style=\"width:85.47pt\">31\u00a0d\u00e9cembre 2025 \u00e9tait</span><span class=\"f charStyle-c709af45 ps467\" style=\"width:1.87pt\"> </span></div><div class=\"ps29549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:31.35pt\">pr\u00e9vu e</span><span class=\"f charStyle-49b068b5 ps29547\" style=\"width:164.68pt\">n cas de non atteinte de cet objectif. </span><span class=\"f charStyle-c709af45 ps29548\" style=\"width:33.27pt\">L\u2019objectif</span><span class=\"f charStyle-c709af45 ps449\" style=\"width:1.87pt\"> </span></div><div class=\"ps4929 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:229.28pt\">d'empreinte carbone en 2025 ayant \u00e9t\u00e9 atteint, ces coupons</span><span class=\"f charStyle-81993cb5 ps458\" style=\"width:1.87pt\"> </span></div><div class=\"ps4931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:108.19pt\">ne seront pas rehauss\u00e9s. A</span><span class=\"f charStyle-c709af45 ps29550\" style=\"width:9.67pt\">u </span><span class=\"f charStyle-c709af45 ps29551\" style=\"width:71.72pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-c709af45 ps29552\" style=\"width:39.71pt\">, la valeur</span><span class=\"f charStyle-c709af45 ps467\" style=\"width:1.87pt\"> </span></div><div class=\"ps4933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:92.14pt\">comptable des dettes</span><span class=\"f charStyle-165dec60 ps29553\" style=\"width:137.16pt\"> qui incluent une telle clause</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.54pt\">d\u2019indexation s'\u00e9l\u00e8ve \u00e0 1,6 milliard d'euros (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29554\" style=\"width:42.2pt\">Note 9.1.2.1</span><span class=\"f charStyle-165dec60 ps29555\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:62.65pt\">pages 427 \u00e0 431).</span><span class=\"f charStyle-165dec60 ps29556\" style=\"width:1.96pt\"> </span></div><div class=\"ps29557 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">En 2023, 2024 et 2025, Valeo a \u00e9galement \u00e9mis des</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">obligations vertes pour un montant total de 2,55 milliards</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps14935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:45.27pt\">d'euros (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29559\" style=\"width:40.81pt\">Note 9.1.2.1</span><span class=\"f charStyle-165dec60 ps29560\" style=\"width:143.2pt\">, pages 427 \u00e0 431). Ces emprunts ne</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps14936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">contiennent pas de clause d\u2019indexation ou de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps14937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">remboursement anticip\u00e9 li\u00e9e \u00e0 l\u2019atteinte d\u2019objectifs</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps14938 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.68pt\">environnementaux.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-409": {
   "value": "Valeo est une entreprise technologique, partenaire de long terme des constructeurs automobiles et nouveaux acteurs de la mobilit\u00e9 auxquels elle fournit des solutions et des syst\u00e8mes innovants. Structur\u00e9 autour de trois Divisions, Valeo joue un r\u00f4le essentiel dans l\u2019\u00e9laboration de la voiture de demain, \u00e9lectrifi\u00e9e, plus s\u00fbre et d\u00e9finie par le logiciel. Le Groupe s\u2019appuie sur son empreinte industrielle mondiale et son leadership technologique dans l\u2019\u00e9lectrification, les syst\u00e8mes avanc\u00e9s d\u2019aide \u00e0 la conduite, l\u2019\u00e9clairage et les logiciels pour capter une part croissante de la valeur par v\u00e9hicule.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-410": {
   "value": "Valeo",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-411": {
   "value": "Valeo",
   "dimensions": {
    "concept": "ifrs-full:NameOfUltimateParentOfGroup",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-412": {
   "value": "Valeo",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-413": {
   "value": "soci\u00e9t\u00e9 europ\u00e9enne",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-414": {
   "value": "100, rue de Courcelles, 75017 Paris, France",
   "dimensions": {
    "concept": "ifrs-full:PrincipalPlaceOfBusiness",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-415": {
   "value": "100, rue de Courcelles, 75017 Paris, France",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-416": {
   "value": "France",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-417": {
   "value": "France",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-418": {
   "value": "<div class=\"ps29260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:180.66pt\">Les comptes consolid\u00e9s de Valeo de l\u2019exercice </span><span class=\"f charStyle-cea761f8 ps29258\" style=\"width:16.98pt\">2025</span><span class=\"f charStyle-cea761f8 ps29259\" style=\"width:31.69pt\"> ont \u00e9t\u00e9</span><span class=\"f charStyle-cea761f8 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps29262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:147.46pt\">arr\u00eat\u00e9s par le Conseil d\u2019administration le </span><span class=\"f charStyle-cea761f8 ps19887\" style=\"width:52.44pt\">26 f\u00e9vrier 2026</span><span class=\"f charStyle-cea761f8 ps29261\" style=\"width:29.34pt\">. A cette</span><span class=\"f charStyle-cea761f8 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps29263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:229.3pt\">date, les proc\u00e9dures d\u2019audit ont \u00e9t\u00e9 effectu\u00e9es et un rapport des</span><span class=\"f charStyle-cea761f8 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps29264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:184.65pt\">commissaires aux comptes est en cours d\u2019\u00e9mission.</span></div><div class=\"ps12279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Ils seront soumis \u00e0 l\u2019approbation de la prochaine Assembl\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29265 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:133.93pt\">g\u00e9n\u00e9rale ordinaire des actionnaires.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-419": {
   "value": "<span class=\"f charStyle-25177d68 ps29267\">R\u00e9f\u00e9rentiel appliqu\u00e9<span class=\"f ps53\"> </span></span><div class=\"ps29271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:72.02pt\">Les \u00e9tats financiers<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29269\" style=\"width:18.57pt\"> sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29270\" style=\"width:138.7pt\"> \u00e9tablis conform\u00e9ment au r\u00e9f\u00e9rentiel<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.56pt\">IFRS publi\u00e9 par l\u2019<span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps29272\" style=\"width:164.72pt\">International Accounting Standards Board<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29275 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:178.58pt\">(\u00ab\u00a0IASB\u00a0\u00bb) tel qu\u2019approuv\u00e9 par l\u2019Union eur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29274\" style=\"width:50.73pt\">op\u00e9enne. Ce<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">r\u00e9f\u00e9rentiel est consultable sur le site internet de la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:97.1pt\">Commission europ\u00e9enne\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-47cc131c ps29277\" style=\"width:4.95pt\"><span class=\"f ps53\"> </span><sup>(1)</sup></span><span class=\"f charStyle-165dec60 ps29278\" style=\"width:1.59pt\">.</span></div><div class=\"ps29280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">Par ailleurs, les \u00e9tats financiers sont compl\u00e9t\u00e9s par les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:49.13pt\">informations </span><span class=\"f charStyle-165dec60 ps29281\" style=\"width:180.15pt\">jug\u00e9es significatives requises par le r\u00e8glement</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:90.2pt\">ANC n\u00b0 2016-09 modifi\u00e9.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-421": {
   "value": "<div class=\"ps29286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.1<span id=\"i9e45405271f649e4bde5fdc1f40de4b4\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29284\"><span style=\"display:inline-block;height:8.71pt;width:18.76pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Normes, amendements et interpr\u00e9tations adopt\u00e9s par l\u2019Union europ\u00e9enne et appliqu\u00e9s </span></div><div class=\"ps29291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">par\u00a0le\u00a0Groupe \u00e0 compter du 1</span><span class=\"f charStyle-31ba0db9 ps29288\"><sup>er</sup></span><span class=\"f charStyle-b11f9a65 ps29289\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b11f9a65 ps29290\">janvier 2025</span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:358.87pt\">Les amendements \u00e0 la norme IFRS suivante s'appliquent de mani\u00e8re obligatoire \u00e0 compter du 1</span><span class=\"f charStyle-47cc131c ps29292\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps29293\" style=\"width:50.31pt\"> janvier 2025 :</span></div><div class=\"ps29295 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:330.75pt\"></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1911\"><div><div class=\"ps29294 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IAS 21<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss1913\"><div><div class=\"ps29294 ss1912\"><span class=\"f charStyle-a696f64a ps10\">Absence de convertibilit\u00e9<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps20369 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:322.86pt\">Ces amendements n'ont pas eu d\u2019incidence sur les comptes consolid\u00e9s du Groupe au </span><span class=\"f charStyle-165dec60 ps29296\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps9299\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps29297\" style=\"width:1.96pt\"> </span></div><div class=\"ps29300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:296.03pt\">Par ailleurs, le Groupe a choisi d\u2019appliquer de mani\u00e8re anticip\u00e9e \u00e0 compter du 1</span><span class=\"f charStyle-47cc131c ps29299\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps5714\" style=\"width:153.18pt\"> janvier 2025 les amendements suivants :</span></div><div class=\"ps29301 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:330.75pt\"></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1911\"><div><div class=\"ps29294 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IFRS 7 et IFRS 9<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss1913\"><div><div class=\"ps29294 ss1912\"><span class=\"f charStyle-a696f64a ps10\">Comptabilisation des contrats d\u2019\u00e9lectricit\u00e9 renouvelable<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:309.93pt\">Ces amendements n'ont pas eu d\u2019incidence sur les comptes consolid\u00e9s de Valeo au </span><span class=\"f charStyle-81f42323 ps29302\" style=\"width:66pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps29303\" style=\"width:105.24pt\">. Leur application anticip\u00e9e a</span><span class=\"f charStyle-81f42323 ps1119\" style=\"width:1.78pt\"> </span></div><div class=\"ps29304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:481.22pt\">n\u00e9anmoins permis au Groupe de prendre en compte dans ses proc\u00e9dures internes les clarifications apport\u00e9es par ces amendements</span><span class=\"f charStyle-81f42323 ps11603\" style=\"width:1.78pt\"> </span></div><div class=\"ps27085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:416.07pt\">aux modalit\u00e9s d'application de l'exemption pour \u00ab usage propre \u00bb pour les contrats d'achat d'\u00e9lectricit\u00e9 renouvelable.</span></div><div class=\"ps29306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.2<span id=\"i0b8b2ac7d53e44f294c6ea398435e542\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29305\"><span style=\"display:inline-block;height:8.71pt;width:16.97pt\"></span></span><span class=\"ps29285\">Normes, amendements et interpr\u00e9tations adopt\u00e9s par l\u2019Union europ\u00e9enne et d\u2019application </span></span></div><div class=\"ps29311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">obligatoire aux exercices ouverts \u00e0 compter du 1</span><span class=\"f charStyle-31ba0db9 ps29307\"><sup>er</sup></span><span class=\"f charStyle-b11f9a65 ps29308\"> janvier </span><span class=\"f charStyle-b11f9a65 ps29309\">2026</span><span class=\"f charStyle-b11f9a65 ps29310\"> \u00a0non anticip\u00e9s par le Groupe</span></div><div class=\"ps29313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:428.88pt\">L'IASB a \u00e9galement publi\u00e9 les normes, amendements et interpr\u00e9tations adopt\u00e9s par l'Union europ\u00e9enne suivants\u00a0:</span><span class=\"f charStyle-165dec60 ps29312\" style=\"width:1.96pt\"> </span></div><div class=\"ps29321 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:249.75pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.7pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps29314\">Date d\u2019application<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps513 ss1914\"><div><div class=\"ps6851 ss1604\"><span class=\"f charStyle-c942a721 ps10\">Amendements \u00e0 IFRS 9 et IFRS 7 </span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps24119 ss1916\"><div><div class=\"ps746 ss1915\"><span class=\"f charStyle-044fe383 ps10\">Clarification sur les principes de classement et d'\u00e9valuation <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss1915\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0certains actifs et passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-044fe383 ps29315\">1</span><span class=\"f charStyle-4da12822 ps12740\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25192\"> janvier 2026</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss1914\"><div><div class=\"ps6851 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Am\u00e9liorations annuelles Volume 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29316 ss1916\"><div><div class=\"ps746 ss1915\"><span class=\"f charStyle-a696f64a ps10\">Diverses dispositions des normes IFRS 1, IFRS 7, IFRS 9, IFRS 10 et <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss1915\"><span class=\"f charStyle-a696f64a ps10\">IAS 7<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23546 ss1917\"><div><div class=\"ps1259 ss1604\"><span class=\"f charStyle-c942a721 ps10\">IFRS 18 </span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29319 ss1918\"><div><div class=\"ps1259 ss1915\"><span class=\"f charStyle-044fe383 ps10\">Pr\u00e9sentation des \u00e9tats financiers et informations \u00e0 fournir</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29320 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps14030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">Valeo a r\u00e9alis\u00e9 une premi\u00e8re analyse des incidences de</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.27pt\">l'application d'IFRS 18 sur la pr\u00e9sentation de ses \u00e9tats</span><span class=\"f charStyle-9c680f66 ps415\" style=\"width:1.93pt\"> </span></div><div class=\"ps29323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.28pt\">financiers consolid\u00e9s. La classification des produits et charges</span><span class=\"f charStyle-9c680f66 ps610\" style=\"width:1.93pt\"> </span></div><div class=\"ps29324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">dans les cat\u00e9gories op\u00e9rationnelle, d\u2019investissement et de</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">financement d\u00e9finies par cette nouvelle norme modifiera la</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:200.55pt\">structure du compte de r\u00e9sultat consolid\u00e9 du Groupe.</span><span class=\"f charStyle-9c680f66 ps29326\" style=\"width:1.93pt\"> </span></div><div class=\"ps29328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Les produits et charges composant le co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financier net ne pourront par exemple plus \u00eatre agr\u00e9g\u00e9s au</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">sein d\u2019une ligne unique dans le compte de r\u00e9sultat consolid\u00e9</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">du Groupe. De m\u00eame, certains produits et certaines charges</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">actuellement pr\u00e9sent\u00e9s au sein du r\u00e9sultat financier devront</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:142.57pt\">\u00eatre report\u00e9s en r\u00e9sultat op\u00e9rationnel.</span></div><div class=\"ps8107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">L\u2019application de certaines dispositions de cette nouvelle</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps8109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">norme font encore l\u2019objet de discussions entre les parties</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">prenantes \u00e0 ce jour, notamment au sein de l\u2019IFRIC. Valeo suit</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">avec attention l\u2019\u00e9volution de ces discussions. En l\u2019\u00e9tat des</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">analyses r\u00e9alis\u00e9es \u00e0 date, le Groupe n\u2019anticipe n\u00e9anmoins</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pas d\u2019incidence significative sur la pr\u00e9sentation des produits</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:193.84pt\">et charges qui composent sa marge op\u00e9rationnelle.</span></div><div class=\"ps14035 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Par ailleurs, l\u2019application de cette nouvelle norme donnera</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">lieu \u00e0 la pr\u00e9sentation d\u2019informations additionnelles dans les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps14038 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">notes aux \u00e9tats financiers consolid\u00e9s. Ces informations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">portent notamment sur la ventilation de certaines natures</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de charges op\u00e9rationnelles (exemple : amortissements,</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">avantages du personnel) par poste fonctionnel ainsi que sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">le rapprochement entre les mesures de performance</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">d\u00e9finies par la direction (MPM) et les sous-totaux inclus dans</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:119.82pt\">le compte de r\u00e9sultat consolid\u00e9.</span><span class=\"f charStyle-165dec60 ps29336\" style=\"width:1.96pt\"> </span></div><div class=\"ps8107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Le Groupe n\u2019anticipe pas d\u2019incidence significative li\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps8109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">mise en \u0153uvre des autres normes et amendements publi\u00e9s</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:205.67pt\">par l\u2019IASB non encore adopt\u00e9s par l\u2019Union europ\u00e9enne.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.3<span id=\"i136fe90c76414f289c4c1956a4001329\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29337\"><span style=\"display:inline-block;height:8.71pt;width:16.96pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Normes, amendements et interpr\u00e9tations publi\u00e9s par l\u2019</span><span class=\"f charStyle-b8a0a0c4 ps29338\">International Accounting </span></div><div class=\"ps10410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b8a0a0c4 ps29287\">Standards\u00a0Board</span><span class=\"f charStyle-b11f9a65 ps29339\">\u00a0(IASB) non encore adopt\u00e9s par l\u2019Union europ\u00e9enne <span class=\"f ps53\"> </span></span></div><div class=\"ps29340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:418.67pt\">L\u2019IASB a publi\u00e9 les normes et amendements suivants qui n'ont pas encore \u00e9t\u00e9 adopt\u00e9s par l'Union europ\u00e9enne :</span></div><div class=\"ps29343 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:270pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps9769\">Date d\u2019application*<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1370\"><div><div class=\"ps746 ss133\"><span class=\"f charStyle-ae6044e9 ps10\">IFRS 19<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29341 ss1921\"><div><div class=\"ps746 ss1920\"><span class=\"f charStyle-a696f64a ps10\">Filiales sans responsabilit\u00e9 publique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1370\"><div><div class=\"ps746 ss133\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IAS 21<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29342 ss1921\"><div><div class=\"ps746 ss1920\"><span class=\"f charStyle-a696f64a ps10\">Conversion dans une monnaie de pr\u00e9sentation hyperinflationniste<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps29344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:2.5pt\">*<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps6588\" style=\"width:166.47pt\">Sous r\u00e9serve de l\u2019adoption par l\u2019Union europ\u00e9enne.</span></div><div class=\"ps8985 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:422.72pt\">Valeo n'anticipe pas \u00e0 date d'incidence significative sur les comptes consolid\u00e9s du Groupe li\u00e9e \u00e0 ces publications.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-420": {
   "value": "<div class=\"ps29286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.1<span id=\"i9e45405271f649e4bde5fdc1f40de4b4\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29284\"><span style=\"display:inline-block;height:8.71pt;width:18.76pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Normes, amendements et interpr\u00e9tations adopt\u00e9s par l\u2019Union europ\u00e9enne et appliqu\u00e9s </span></div><div class=\"ps29291 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">par\u00a0le\u00a0Groupe \u00e0 compter du 1</span><span class=\"f charStyle-31ba0db9 ps29288\"><sup>er</sup></span><span class=\"f charStyle-b11f9a65 ps29289\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b11f9a65 ps29290\">janvier 2025</span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:358.87pt\">Les amendements \u00e0 la norme IFRS suivante s'appliquent de mani\u00e8re obligatoire \u00e0 compter du 1</span><span class=\"f charStyle-47cc131c ps29292\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps29293\" style=\"width:50.31pt\"> janvier 2025 :</span></div><div class=\"ps29295 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:330.75pt\"></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1911\"><div><div class=\"ps29294 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IAS 21<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss1913\"><div><div class=\"ps29294 ss1912\"><span class=\"f charStyle-a696f64a ps10\">Absence de convertibilit\u00e9<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps20369 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:322.86pt\">Ces amendements n'ont pas eu d\u2019incidence sur les comptes consolid\u00e9s du Groupe au </span><span class=\"f charStyle-165dec60 ps29296\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps9299\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps29297\" style=\"width:1.96pt\"> </span></div><div class=\"ps29300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:296.03pt\">Par ailleurs, le Groupe a choisi d\u2019appliquer de mani\u00e8re anticip\u00e9e \u00e0 compter du 1</span><span class=\"f charStyle-47cc131c ps29299\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps5714\" style=\"width:153.18pt\"> janvier 2025 les amendements suivants :</span></div><div class=\"ps29301 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:330.75pt\"></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1911\"><div><div class=\"ps29294 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IFRS 7 et IFRS 9<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss1913\"><div><div class=\"ps29294 ss1912\"><span class=\"f charStyle-a696f64a ps10\">Comptabilisation des contrats d\u2019\u00e9lectricit\u00e9 renouvelable<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:309.93pt\">Ces amendements n'ont pas eu d\u2019incidence sur les comptes consolid\u00e9s de Valeo au </span><span class=\"f charStyle-81f42323 ps29302\" style=\"width:66pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps29303\" style=\"width:105.24pt\">. Leur application anticip\u00e9e a</span><span class=\"f charStyle-81f42323 ps1119\" style=\"width:1.78pt\"> </span></div><div class=\"ps29304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:481.22pt\">n\u00e9anmoins permis au Groupe de prendre en compte dans ses proc\u00e9dures internes les clarifications apport\u00e9es par ces amendements</span><span class=\"f charStyle-81f42323 ps11603\" style=\"width:1.78pt\"> </span></div><div class=\"ps27085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:416.07pt\">aux modalit\u00e9s d'application de l'exemption pour \u00ab usage propre \u00bb pour les contrats d'achat d'\u00e9lectricit\u00e9 renouvelable.</span></div><div class=\"ps29306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.2<span id=\"i0b8b2ac7d53e44f294c6ea398435e542\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29305\"><span style=\"display:inline-block;height:8.71pt;width:16.97pt\"></span></span><span class=\"ps29285\">Normes, amendements et interpr\u00e9tations adopt\u00e9s par l\u2019Union europ\u00e9enne et d\u2019application </span></span></div><div class=\"ps29311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">obligatoire aux exercices ouverts \u00e0 compter du 1</span><span class=\"f charStyle-31ba0db9 ps29307\"><sup>er</sup></span><span class=\"f charStyle-b11f9a65 ps29308\"> janvier </span><span class=\"f charStyle-b11f9a65 ps29309\">2026</span><span class=\"f charStyle-b11f9a65 ps29310\"> \u00a0non anticip\u00e9s par le Groupe</span></div><div class=\"ps29313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:428.88pt\">L'IASB a \u00e9galement publi\u00e9 les normes, amendements et interpr\u00e9tations adopt\u00e9s par l'Union europ\u00e9enne suivants\u00a0:</span><span class=\"f charStyle-165dec60 ps29312\" style=\"width:1.96pt\"> </span></div><div class=\"ps29321 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:249.75pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.7pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps29314\">Date d\u2019application<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps513 ss1914\"><div><div class=\"ps6851 ss1604\"><span class=\"f charStyle-c942a721 ps10\">Amendements \u00e0 IFRS 9 et IFRS 7 </span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps24119 ss1916\"><div><div class=\"ps746 ss1915\"><span class=\"f charStyle-044fe383 ps10\">Clarification sur les principes de classement et d'\u00e9valuation <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss1915\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0certains actifs et passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-044fe383 ps29315\">1</span><span class=\"f charStyle-4da12822 ps12740\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25192\"> janvier 2026</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss1914\"><div><div class=\"ps6851 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Am\u00e9liorations annuelles Volume 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29316 ss1916\"><div><div class=\"ps746 ss1915\"><span class=\"f charStyle-a696f64a ps10\">Diverses dispositions des normes IFRS 1, IFRS 7, IFRS 9, IFRS 10 et <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss1915\"><span class=\"f charStyle-a696f64a ps10\">IAS 7<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23546 ss1917\"><div><div class=\"ps1259 ss1604\"><span class=\"f charStyle-c942a721 ps10\">IFRS 18 </span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29319 ss1918\"><div><div class=\"ps1259 ss1915\"><span class=\"f charStyle-044fe383 ps10\">Pr\u00e9sentation des \u00e9tats financiers et informations \u00e0 fournir</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29320 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps14030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">Valeo a r\u00e9alis\u00e9 une premi\u00e8re analyse des incidences de</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.27pt\">l'application d'IFRS 18 sur la pr\u00e9sentation de ses \u00e9tats</span><span class=\"f charStyle-9c680f66 ps415\" style=\"width:1.93pt\"> </span></div><div class=\"ps29323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.28pt\">financiers consolid\u00e9s. La classification des produits et charges</span><span class=\"f charStyle-9c680f66 ps610\" style=\"width:1.93pt\"> </span></div><div class=\"ps29324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">dans les cat\u00e9gories op\u00e9rationnelle, d\u2019investissement et de</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.29pt\">financement d\u00e9finies par cette nouvelle norme modifiera la</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps29327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:200.55pt\">structure du compte de r\u00e9sultat consolid\u00e9 du Groupe.</span><span class=\"f charStyle-9c680f66 ps29326\" style=\"width:1.93pt\"> </span></div><div class=\"ps29328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Les produits et charges composant le co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financier net ne pourront par exemple plus \u00eatre agr\u00e9g\u00e9s au</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">sein d\u2019une ligne unique dans le compte de r\u00e9sultat consolid\u00e9</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">du Groupe. De m\u00eame, certains produits et certaines charges</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">actuellement pr\u00e9sent\u00e9s au sein du r\u00e9sultat financier devront</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:142.57pt\">\u00eatre report\u00e9s en r\u00e9sultat op\u00e9rationnel.</span></div><div class=\"ps8107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">L\u2019application de certaines dispositions de cette nouvelle</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps8109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">norme font encore l\u2019objet de discussions entre les parties</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">prenantes \u00e0 ce jour, notamment au sein de l\u2019IFRIC. Valeo suit</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">avec attention l\u2019\u00e9volution de ces discussions. En l\u2019\u00e9tat des</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">analyses r\u00e9alis\u00e9es \u00e0 date, le Groupe n\u2019anticipe n\u00e9anmoins</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pas d\u2019incidence significative sur la pr\u00e9sentation des produits</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:193.84pt\">et charges qui composent sa marge op\u00e9rationnelle.</span></div><div class=\"ps14035 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Par ailleurs, l\u2019application de cette nouvelle norme donnera</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">lieu \u00e0 la pr\u00e9sentation d\u2019informations additionnelles dans les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps14038 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">notes aux \u00e9tats financiers consolid\u00e9s. Ces informations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">portent notamment sur la ventilation de certaines natures</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de charges op\u00e9rationnelles (exemple : amortissements,</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">avantages du personnel) par poste fonctionnel ainsi que sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">le rapprochement entre les mesures de performance</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">d\u00e9finies par la direction (MPM) et les sous-totaux inclus dans</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:119.82pt\">le compte de r\u00e9sultat consolid\u00e9.</span><span class=\"f charStyle-165dec60 ps29336\" style=\"width:1.96pt\"> </span></div><div class=\"ps8107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Le Groupe n\u2019anticipe pas d\u2019incidence significative li\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps8109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">mise en \u0153uvre des autres normes et amendements publi\u00e9s</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:205.67pt\">par l\u2019IASB non encore adopt\u00e9s par l\u2019Union europ\u00e9enne.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.1.3<span id=\"i136fe90c76414f289c4c1956a4001329\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29337\"><span style=\"display:inline-block;height:8.71pt;width:16.96pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Normes, amendements et interpr\u00e9tations publi\u00e9s par l\u2019</span><span class=\"f charStyle-b8a0a0c4 ps29338\">International Accounting </span></div><div class=\"ps10410 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b8a0a0c4 ps29287\">Standards\u00a0Board</span><span class=\"f charStyle-b11f9a65 ps29339\">\u00a0(IASB) non encore adopt\u00e9s par l\u2019Union europ\u00e9enne <span class=\"f ps53\"> </span></span></div><div class=\"ps29340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:418.67pt\">L\u2019IASB a publi\u00e9 les normes et amendements suivants qui n'ont pas encore \u00e9t\u00e9 adopt\u00e9s par l'Union europ\u00e9enne :</span></div><div class=\"ps29343 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:270pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps9769\">Date d\u2019application*<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1370\"><div><div class=\"ps746 ss133\"><span class=\"f charStyle-ae6044e9 ps10\">IFRS 19<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29341 ss1921\"><div><div class=\"ps746 ss1920\"><span class=\"f charStyle-a696f64a ps10\">Filiales sans responsabilit\u00e9 publique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1370\"><div><div class=\"ps746 ss133\"><span class=\"f charStyle-ae6044e9 ps10\">Amendements \u00e0 IAS 21<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29342 ss1921\"><div><div class=\"ps746 ss1920\"><span class=\"f charStyle-a696f64a ps10\">Conversion dans une monnaie de pr\u00e9sentation hyperinflationniste<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-044fe383 ps29317\">1</span><span class=\"f charStyle-4da12822 ps29318\"><sup>er</sup></span><span class=\"f charStyle-044fe383 ps25400\"> janvier 2027</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps29344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:2.5pt\">*<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps6588\" style=\"width:166.47pt\">Sous r\u00e9serve de l\u2019adoption par l\u2019Union europ\u00e9enne.</span></div><div class=\"ps8985 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:422.72pt\">Valeo n'anticipe pas \u00e0 date d'incidence significative sur les comptes consolid\u00e9s du Groupe li\u00e9e \u00e0 ces publications.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-422": {
   "value": "<div class=\"ps29346 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">1.2<span id=\"i29ccddb4e2b349c48ed5777585537ddf\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29345\"><span style=\"display:inline-block;height:10.16pt;width:29.47pt\"></span></span><span class=\"ps408\">Bases de pr\u00e9paration</span></span></div><div class=\"ps14905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Les \u00e9tats financiers sont pr\u00e9sent\u00e9s en euros et sont arrondis<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14906 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">au\u00a0million le plus proche. Par cons\u00e9quent, certaines sommes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29347 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">de montants arrondis peuvent pr\u00e9senter des \u00e9carts non</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:149.08pt\">significatifs par rapport au total report\u00e9.</span></div><div class=\"ps29349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.2.1<span id=\"i174bef4ac39244a29345693463cb9d15\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29305\"><span style=\"display:inline-block;height:8.71pt;width:16.97pt\"></span></span><span class=\"ps29285\">Estimations et jugements</span></span></div><div class=\"ps19007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.27pt\">La pr\u00e9paration des \u00e9tats financiers n\u00e9cessite de la part de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps415\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.3pt\">Valeo, d\u2019effectuer des estimations et de faire des hypoth\u00e8ses<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps608\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.26pt\">susceptibles d\u2019avoir un impact tant sur les montants des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps410\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6371 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.28pt\">actifs et des passifs que sur ceux des produits et des charges.</span><span class=\"f charStyle-d77d7991 ps610\" style=\"width:1.91pt\"> </span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.28pt\">Ces estimations et hypoth\u00e8ses concernent \u00e0 la fois les risques</span><span class=\"f charStyle-d77d7991 ps610\" style=\"width:1.91pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.29pt\">sp\u00e9cifiques li\u00e9s au m\u00e9tier d\u2019\u00e9quipementier automobile</span><span class=\"f charStyle-d77d7991 ps425\" style=\"width:1.91pt\"> </span></div><div class=\"ps6374 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.3pt\">(risques relatifs aux normes de qualit\u00e9 et de s\u00e9curit\u00e9) et les</span><span class=\"f charStyle-d77d7991 ps608\" style=\"width:1.91pt\"> </span></div><div class=\"ps6375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.33pt\">risques plus g\u00e9n\u00e9raux auxquels le Groupe est expos\u00e9 du fait</span><span class=\"f charStyle-d77d7991 ps412\" style=\"width:1.91pt\"> </span></div><div class=\"ps6376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:214.53pt\">de son activit\u00e9 industrielle dans un contexte international.</span></div><div class=\"ps29350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Pour l\u2019exercice de son jugement, le Groupe se fonde sur son</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">exp\u00e9rience pass\u00e9e et sur l\u2019ensemble des informations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">disponibles consid\u00e9r\u00e9es comme d\u00e9terminantes au regard de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps15799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">son environnement et des circonstances. Les estimations et</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps15801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">hypoth\u00e8ses utilis\u00e9es sont r\u00e9examin\u00e9es de fa\u00e7on continue.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps15802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">En\u00a0raison des incertitudes inh\u00e9rentes \u00e0 tout processus</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">d\u2019\u00e9valuation, il est possible que les montants d\u00e9finitifs qui</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">figureront dans les futurs \u00e9tats financiers de Valeo soient</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:169.72pt\">diff\u00e9rents des valeurs actuellement estim\u00e9es.</span></div><div class=\"ps15806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.28pt\">Les estimations, les jugements ainsi que les hypoth\u00e8ses</span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> </span></div><div class=\"ps15807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.26pt\">pr\u00e9sentant un caract\u00e8re significatif qui ont \u00e9t\u00e9 retenus par le</span><span class=\"f charStyle-bd9dab06 ps410\" style=\"width:1.81pt\"> </span></div><div class=\"ps19019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.28pt\">Groupe pour l\u2019\u00e9tablissement des \u00e9tats financiers pour l\u2019exercice</span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> </span></div><div class=\"ps19021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:26.77pt\">clos au </span><span class=\"f charStyle-bd9dab06 ps29353\" style=\"width:65.06pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-bd9dab06 ps29354\" style=\"width:103.26pt\"> portent principalement sur :</span></div><div class=\"ps19863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">les conditions de capitalisation des frais de d\u00e9veloppement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19864 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:12.77pt\">(cf. </span><span class=\"f charStyle-165dec60 ps29355\" style=\"width:38.97pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps29356\" style=\"width:74.04pt\">, pages 399 et 400)\u00a0;</span></div><div class=\"ps29359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:139.33pt\">l\u2019estimation des provisions (cf. Notes </span><span class=\"f charStyle-165dec60 ps29357\" style=\"width:10.37pt\">6.3</span><span class=\"f charStyle-165dec60 ps29358\" style=\"width:72.47pt\">, pages 406 \u00e0 411 et</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:9.07pt\">8.1</span><span class=\"f charStyle-165dec60 ps29360\" style=\"width:73.4pt\">, pages 423 et 424)\u00a0;</span></div><div class=\"ps29361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.16pt\">les dur\u00e9es des contrats de location en ce qui concerne les</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">p\u00e9riodes optionnelles ainsi que la d\u00e9termination des taux</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:69.46pt\">d\u2019actualisation (cf. </span><span class=\"f charStyle-165dec60 ps8581\" style=\"width:30.54pt\">Note 7.3<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29363\" style=\"width:67.32pt\">, pages 416 \u00e0 418)\u00a0;</span></div><div class=\"ps29365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">l\u2019\u00e9valuation de la valeur recouvrable des immobilisations</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:116.18pt\">incorporelles et corporelles (cf. </span><span class=\"f charStyle-165dec60 ps29366\" style=\"width:31.27pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps29367\" style=\"width:68.34pt\">, pages 419 \u00e0 422)\u00a0;</span></div><div class=\"ps4942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">les perspectives d\u2019utilisation des actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:12.77pt\">(cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29355\" style=\"width:33.82pt\">Note 10.2</span><span class=\"f charStyle-165dec60 ps4205\" style=\"width:72.84pt\">, pages 443 et 444).</span></div><div class=\"ps29370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.2.2<span id=\"i0be72bf365ab4776a222ee06dff4a76f\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29369\"><span style=\"display:inline-block;height:8.71pt;width:15.18pt\"></span></span><span class=\"ps29285\">Continuit\u00e9 d'exploitation et </span></span></div><div class=\"ps29371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">gestion\u00a0de\u00a0la\u00a0liquidit\u00e9 du Groupe</span></div><div class=\"ps5299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Les \u00e9tats financiers sont pr\u00e9par\u00e9s en application du principe<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps5300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de continuit\u00e9 d'exploitation. Le Groupe dispose d'une</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps5301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:53.57pt\">tr\u00e9sorerie et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps29372\" style=\"width:175.7pt\">de sources de financement suffisantes et a</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps5302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:80.44pt\">d\u00e9montr\u00e9 sa capacit\u00e9</span><span class=\"f charStyle-165dec60 ps29373\" style=\"width:82.69pt\"> \u00e0 \u00e9mettre de la dette.</span><span class=\"f charStyle-165dec60 ps29374\" style=\"width:1.96pt\"> </span></div><div class=\"ps7269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.42pt\">Au </span><span class=\"f charStyle-165dec60 ps29375\" style=\"width:67.56pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps15012\" style=\"width:68.85pt\">, Valeo dispose de </span><span class=\"f charStyle-165dec60 ps29376\" style=\"width:8.85pt\">1,6</span><span class=\"f charStyle-165dec60 ps29377\" style=\"width:71.65pt\">\u00a0milliard d'euros de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps7270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">lignes de cr\u00e9dit non tir\u00e9es ainsi que d'une structure</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps7271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:65.65pt\">financi\u00e8re stable\u00a0:</span></div><div class=\"ps2191 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:10.79pt\">2,4</span><span class=\"f charStyle-165dec60 ps10843\" style=\"width:140.1pt\"> milliards d'euros de Tr\u00e9sorerie nette ;</span></div><div class=\"ps29380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:126.57pt\">maturit\u00e9 moyenne de la dette de </span><span class=\"f charStyle-165dec60 ps29378\" style=\"width:10.76pt\">3,4</span><span class=\"f charStyle-165dec60 ps29379\" style=\"width:18.66pt\"> ans ;</span></div><div class=\"ps29381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.23pt\">ratio financier (endettement financier net / EBITDA Ajust\u00e9</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29384 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:114.72pt\">calcul\u00e9 sur 12 mois glissants) \u00e0 </span><span class=\"f charStyle-165dec60 ps29382\" style=\"width:8.51pt\">1,3</span><span class=\"f charStyle-165dec60 ps29383\" style=\"width:98.73pt\">, inf\u00e9rieur \u00e0 la limite de 3,5.</span></div><div class=\"ps29385 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.29pt\">Dans sa gestion du risque de liquidit\u00e9, le Groupe veille \u00e0 r\u00e9partir</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps29386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:215.26pt\">les \u00e9ch\u00e9ances de remboursement de sa dette \u00e0 long terme.</span></div><div class=\"ps29388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-22e622cc ps448\">\u00c9CH\u00c9ANCIER CONTRACTUEL DES DETTES <span id=\"id19b5bed3e724315849da3be4cecec8e\"></span></span></div><div class=\"ps29389 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-22e622cc ps448\">FINANCI\u00c8RES\u00a0\u00c0\u00a0LONG TERME</span></div><div class=\"ps29390 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-a8abcdde ps448\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div><div class=\"ps29391 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ps407\"><div class=\"ps1\"><img alt=\"2769\" id=\"i-781\" 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\" style=\"height:130.39pt;width:229.6pt\"/></div></div></div><div class=\"ps29392 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:229.31pt\">Les flux futurs pr\u00e9sent\u00e9s ci-dessus, \u00e0 la fois les coupons et les</span><span class=\"f charStyle-776a1ec6 ps460\" style=\"width:1.7pt\"> </span></div><div class=\"ps29393 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:229.33pt\">remboursements du principal, ne sont pas actualis\u00e9s. Pour les</span><span class=\"f charStyle-776a1ec6 ps450\" style=\"width:1.7pt\"> </span></div><div class=\"ps29396 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:143.66pt\">int\u00e9r\u00eats variables, la courbe forward au </span><span class=\"f charStyle-776a1ec6 ps29394\" style=\"width:62.89pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-776a1ec6 ps29395\" style=\"width:22.71pt\"> a \u00e9t\u00e9</span><span class=\"f charStyle-776a1ec6 ps471\" style=\"width:1.7pt\"> </span></div><div class=\"ps29397 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:24.59pt\">utilis\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps29398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Le Groupe a r\u00e9alis\u00e9 plusieurs op\u00e9rations de financement au</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.4pt\">cours de l'exercice </span><span class=\"f charStyle-165dec60 ps29399\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29400\" style=\"width:132.21pt\">, notamment l'\u00e9mission de deux<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29402 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:229.29pt\">nouvelles obligations vertes en mai et septembre pour</span><span class=\"f charStyle-9206869b ps467\" style=\"width:1.9pt\"> </span></div><div class=\"ps29404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:106.25pt\">respectivement 650 millions</span><span class=\"f charStyle-165dec60 ps29403\" style=\"width:123.01pt\"> d\u2019euros \u00e0 \u00e9ch\u00e9ance mai 2031 et</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29408 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:16.12pt\">500 </span><span class=\"f charStyle-9206869b ps29405\" style=\"width:28.94pt\">millions</span><span class=\"f charStyle-165dec60 ps29406\" style=\"width:116.71pt\"> d\u2019euros \u00e0 \u00e9ch\u00e9ance mars 2032.</span><span class=\"f charStyle-165dec60 ps29407\" style=\"width:1.96pt\"> </span></div><div class=\"ps29409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">Les d\u00e9tails sur l'endettement financier du Groupe et les</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps29413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:85.91pt\">op\u00e9rations financi\u00e8res</span><span class=\"f charStyle-165dec60 ps29410\" style=\"width:83.78pt\"> significatives de </span><span class=\"f charStyle-165dec60 ps29411\" style=\"width:34.56pt\">l'exercice</span><span class=\"f charStyle-165dec60 ps29412\" style=\"width:25.07pt\"> sont</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29416 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.64pt\">pr\u00e9sent\u00e9s dans la </span><span class=\"f charStyle-165dec60 ps29414\" style=\"width:24.88pt\">Note 9</span><span class=\"f charStyle-165dec60 ps29415\" style=\"width:65.01pt\">, pages 424 \u00e0 441.</span></div><div class=\"ps29418 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">1.3<span id=\"i055eca36450b4913b961616891e1fa68\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29417\"><span style=\"display:inline-block;height:10.16pt;width:29.45pt\"></span></span><span class=\"ps29267\">Prise en compte des </span></span></div><div class=\"ps29420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">cons\u00e9quences du changement <span class=\"f ps53\"> </span></span></div><div class=\"ps29421 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">climatique</span></div><div class=\"ps29422 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps448\">1.3.1<span style=\"display:inline-block;height:8.71pt;width:16.96pt\"></span></span><span class=\"ps17462\">Engagements de neutralit\u00e9 carbone</span><span id=\"if9a96fca613349e6ab2bb5f54524386c\"></span></span></div><div class=\"ps29423 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.25pt\">Valeo a d\u00e9velopp\u00e9 un plan ambitieux de contribution \u00e0 la</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps29425 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:37.14pt\">neutralit\u00e9 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29424\" style=\"width:192.18pt\">carbone, le Plan Cap 50, ax\u00e9 sur la pr\u00e9vention et la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">r\u00e9duction des \u00e9missions de gaz \u00e0 effet de serre. Ce plan vise</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:53.13pt\">\u00e0 contribuer </span><span class=\"f charStyle-367d076b ps29427\" style=\"width:176.12pt\">\u00e0 la neutralit\u00e9 carbone d'ici \u00e0 2050 avec un<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps689\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29430 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:79.55pt\">objectif interm\u00e9diaire<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29429\" style=\"width:33.5pt\"> en 2030.<span class=\"f ps53\"> </span></span></div><div class=\"ps29431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">Les objectifs de ce plan, les actions envisag\u00e9es ainsi que</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">leurs modalit\u00e9s de mise en \u0153uvre sont d\u00e9crites dans le</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29433 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">Rapport de durabilit\u00e9 du Groupe.</span></div><div class=\"ps29436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:25.61pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps29434\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps29435\" style=\"width:185.94pt\">, le Groupe n'a pas d'obligation juridique ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">implicite r\u00e9sultant de ses engagements de d\u00e9carbonation</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps29438 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">devant \u00eatre provisionn\u00e9e ou constitutive d'un passif</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29440 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:83.12pt\">\u00e9ventuel. Par ailleurs, </span><span class=\"f charStyle-81993cb5 ps29439\" style=\"width:146.14pt\">Valeo n'a pas identifi\u00e9 d'actif significatif</span><span class=\"f charStyle-81993cb5 ps471\" style=\"width:1.87pt\"> </span></div><div class=\"ps29442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:102.45pt\">dont la valeur ou la dur\u00e9e d</span><span class=\"f charStyle-165dec60 ps29441\" style=\"width:126.83pt\">'utilit\u00e9 serait impact\u00e9e du fait des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29444 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:101.49pt\">actions envisag\u00e9es dans le </span><span class=\"f charStyle-81f42323 ps29443\" style=\"width:127.77pt\">cadre de ce plan. Une telle situation</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps29446 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:119.5pt\">pourrait par exemple survenir</span><span class=\"f charStyle-165dec60 ps29445\" style=\"width:109.78pt\"> suite \u00e0 une d\u00e9cision de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29447 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">remplacer certains \u00e9quipements avant la fin de leur dur\u00e9e</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">d'utilit\u00e9 initiale au profit d'\u00e9quipements b\u00e9n\u00e9ficiant d'une</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29450 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:126.48pt\">efficacit\u00e9 \u00e9nerg\u00e9tique sup\u00e9rieure.</span><span class=\"f charStyle-165dec60 ps29449\" style=\"width:1.96pt\"> </span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps275\">1.3.2<span style=\"display:inline-block;height:8.71pt;width:15.17pt\"></span></span><span class=\"ps29285\">Risque physique</span><span id=\"idc4213379fae4a6b923e1860a999f605\"></span></span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Une augmentation de la fr\u00e9quence des \u00e9v\u00e8nements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">climatiques extr\u00eames et/ou chroniques (tels que des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">chaleurs extr\u00eames, du stress hydrique et des inondations)</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">pourrait, d\u2019une part, perturber, voire interrompre, certaines</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">op\u00e9rations \u00e0 diff\u00e9rents niveaux des cha\u00eenes de production et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">logistique, et, d\u2019autre part, d\u00e9grader les conditions de travail</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:51.32pt\">du personnel.</span></div><div class=\"ps29459 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:57.24pt\">Les principaux </span><span class=\"f charStyle-9c680f66 ps29458\" style=\"width:172.01pt\">risques auxquels est expos\u00e9 le Groupe du fait</span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> </span></div><div class=\"ps29461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:13.18pt\">des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29460\" style=\"width:3.62pt\"> </span><span class=\"f charStyle-81f42323 ps17419\" style=\"width:212.47pt\">effets physiques du changement climatique ainsi que le</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:36.71pt\">dispositif <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29462\" style=\"width:192.62pt\">global d'\u00e9valuation associ\u00e9 sont d\u00e9crits dans le</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Chapitre 4, section 4.1.2.3.3 Identification et \u00e9valuation des</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">impacts, risques et opportunit\u00e9s mat\u00e9riels relatifs au climat</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:76.42pt\">(cf. pages 223 \u00e0 246).</span></div><div class=\"ps4022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">Sur la base des audits d'adaptation au changement</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps4025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">climatique men\u00e9s \u00e0 ce stade, aucun impact significatif li\u00e9</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">aux risques physiques r\u00e9sultant du changement climatique<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">n\u2019a \u00e9t\u00e9 identifi\u00e9, que ce soit sur la dur\u00e9e d'utilit\u00e9 ou la valeur</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29465 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:36.71pt\">des actifs.</span></div><div class=\"ps29466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Les d\u00e9penses envisag\u00e9es \u00e0 moyen terme par les sites du</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29467 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Groupe pour mettre en \u0153uvre des mesures d'adaptation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29468 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">sont incluses dans les plans \u00e0 moyen terme sur la base</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps29469 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">desquels sont r\u00e9alis\u00e9s les tests de d\u00e9pr\u00e9ciation des unit\u00e9s</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29473 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:139.69pt\">g\u00e9n\u00e9ratrices de tr\u00e9sorerie et des </span><span class=\"f charStyle-e8054d08 ps29470\" style=\"width:37.45pt\">goodwill </span><span class=\"f charStyle-165dec60 ps29471\" style=\"width:16.03pt\">(cf. </span><span class=\"f charStyle-165dec60 ps29472\" style=\"width:34.53pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps20149\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:62.83pt\">pages\u00a0419 \u00e0 422).</span></div><div class=\"ps29475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps275\">1.3.3<span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps29285\">Risque de transition</span><span id=\"i1af67d63839444e586c5be70ca5e5621\"></span></span></div><div class=\"ps29476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Les risques et opportunit\u00e9s li\u00e9s \u00e0 la transition sont associ\u00e9s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">au rythme et \u00e0 la mesure dans lesquels une organisation</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">g\u00e8re et s\u2019adapte au rythme interne et externe du</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29479 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">changement pour r\u00e9duire les \u00e9missions de gaz \u00e0 effet de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:102.57pt\">serre. Ceux-ci sont d\u00e9crits </span><span class=\"f charStyle-165dec60 ps29480\" style=\"width:126.71pt\">dans le Rapport de durabilit\u00e9 du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.73pt\">Groupe.</span><span class=\"f charStyle-165dec60 ps29482\" style=\"width:1.96pt\"> </span></div><div class=\"ps29484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Compte tenu du portefeuille de solutions d'\u00e9lectrification</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29486 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:76.62pt\">dont dispose Valeo, </span><span class=\"f charStyle-9206869b ps29485\" style=\"width:152.7pt\">l'\u00e9volution vers une mobilit\u00e9 d\u00e9carbon\u00e9e</span><span class=\"f charStyle-9206869b ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps29488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:200.13pt\">constitue une source d'opportunit\u00e9 pour le Groupe. </span><span class=\"f charStyle-165dec60 ps29487\" style=\"width:29.14pt\">Si cette</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps21741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">\u00e9volution est belle et bien enclench\u00e9e, celle-ci s'op\u00e8re \u00e0 des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">rythmes diff\u00e9rents selon les r\u00e9gions du monde en fonction</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:156.62pt\">des politiques publiques mises en oeuvre.</span></div><div class=\"ps29490 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Face aux incertitudes li\u00e9es au rythme d\u2019adoption de la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19541 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">technologie \u00e9lectrique, le Groupe dispose d\u2019un mod\u00e8le</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19543 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">d\u2019affaires, d\u2019une organisation et d\u2019un portefeuille produits</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29491 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.45pt\">r\u00e9silient.</span><span class=\"f charStyle-165dec60 ps13028\" style=\"width:197.85pt\"> La majorit\u00e9 des produits d\u00e9velopp\u00e9s par les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29492 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">Divisions BRAIN et LIGHT, de m\u00eame qu\u2019une part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">substantielle des produits de la Division POWER sont</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29494 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">agnostiques au choix du mode de propulsion. Par ailleurs, le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29495 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">Groupe a engag\u00e9 ces derni\u00e8res ann\u00e9es un effort important</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29496 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">pour rationaliser l\u2019organisation de la Division POWER afin</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16185 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">d\u2019am\u00e9liorer l'efficacit\u00e9 et la flexibilit\u00e9 de son outil industriel et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21133 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">de sa Recherche et D\u00e9veloppement face aux incertitudes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps21134 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:111.03pt\">li\u00e9es \u00e0 la transition \u00e9lectrique.</span></div><div class=\"ps6932 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.26pt\">En parall\u00e8le, la croissance des ventes de v\u00e9hicules \u00e9lectriques,</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps6935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:36.04pt\">amorc\u00e9e </span><span class=\"f charStyle-165dec60 ps29497\" style=\"width:193.23pt\">depuis quelques ann\u00e9es, a \u00e9galement conduit \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps6937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:64.1pt\">l'\u00e9mergence de </span><span class=\"f charStyle-81f42323 ps29498\" style=\"width:163.63pt\">nouveaux acteurs, principalement en Chine</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:224.81pt\">dont les pratiques peuvent dans certains cas diff\u00e9rer d</span><span class=\"f charStyle-9206869b ps20000\" style=\"width:4.47pt\">e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:229.33pt\">celles des acteurs historiques, notamment en termes de</span><span class=\"f charStyle-9206869b ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps29499 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">d\u00e9veloppement produit et d'int\u00e9gration de la cha\u00eene de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29501 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:24.65pt\">valeur.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29500\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Le plan \u00e0 moyen terme, sur la base duquel sont r\u00e9alis\u00e9s les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">tests de d\u00e9pr\u00e9ciation des unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps21143 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.83pt\">des </span><span class=\"f charStyle-e8054d08 ps29504\" style=\"width:34.79pt\">goodwill </span><span class=\"f charStyle-165dec60 ps8977\" style=\"width:13.37pt\">(cf. </span><span class=\"f charStyle-165dec60 ps29505\" style=\"width:31.87pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps29506\" style=\"width:133.41pt\">, pages 419 \u00e0 422), a \u00e9t\u00e9 \u00e9labor\u00e9 en</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps21145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">tenant compte de l\u2019ensemble des opportunit\u00e9s et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps21147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">incertitudes li\u00e9s \u00e0 ces transformations. Il s'appuie sur des</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps21148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">projections de volumes de ventes et de mix clients</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps21149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">raisonnablement prudents et int\u00e8gre les implications</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29507 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">financi\u00e8res li\u00e9es \u00e0 l'\u00e9volution du mix des ventes en termes de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">d\u00e9penses de Recherche et D\u00e9veloppement et</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29510 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.66pt\">d'investissements.</span><span class=\"f charStyle-165dec60 ps29509\" style=\"width:1.96pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">La mise en \u0153uvre des actions qui seront entreprises par</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">Valeo pour r\u00e9duire ses \u00e9missions de scopes 1, 2 et 3 amont</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">dans le cadre de son Plan CAP 50 devrait \u00eatre progressive et</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:227.61pt\">donc sans impact brutal sur la structure de co\u00fbts du Groupe.</span></div><div class=\"ps4432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">Par ailleurs, pour les activit\u00e9s de la Division POWER, qui sont</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">concern\u00e9es par l\u2019\u00e9lectrification, une simulation a \u00e9t\u00e9 r\u00e9alis\u00e9e</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:125.99pt\">afin d'\u00e9valuer l'impact potentiel </span><span class=\"f charStyle-165dec60 ps29512\" style=\"width:103.33pt\">sur le test de d\u00e9pr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.25pt\">du </span><span class=\"f charStyle-e8054d08 ps29513\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-e8054d08 ps29514\" style=\"width:3.13pt\"> </span><span class=\"f charStyle-165dec60 ps29515\" style=\"width:180.66pt\">d'un sc\u00e9nario pessimiste en lien avec le risque</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:62.32pt\">de transition (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29516\" style=\"width:37.42pt\">Note 7.4.6</span><span class=\"f charStyle-165dec60 ps29517\" style=\"width:42.17pt\">, page 422).</span></div><div class=\"ps29518 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps448\">1.3.4<span style=\"display:inline-block;height:8.71pt;width:14.28pt\"></span></span><span class=\"ps17462\">Contrats d\u2019achat d\u2019\u00e9nergie renouvelable</span><span id=\"i714895f625cb4b1dbcdfe76ba1fb4efa\"></span></span></div><div class=\"ps29519 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Valeo a install\u00e9 des panneaux photovolta\u00efques sur le toit de</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">ses b\u00e2timents ainsi que sur les parkings d\u2019un certain nombre</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps26926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">de ses sites afin de couvrir une partie de leur consommation</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps26928 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u2019\u00e9lectricit\u00e9. Dans certains cas, ces installations</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">appartiennent \u00e0 un tiers vis-\u00e0-vis duquel le site s\u2019est engag\u00e9</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps26582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:179.01pt\">\u00e0 acheter tout ou partie de l\u2019\u00e9lectricit\u00e9 produite.</span></div><div class=\"ps26583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">Ces contrats ont fait l\u2019objet d\u2019une analyse pour d\u00e9terminer le</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">traitement comptable auquel ils sont soumis. Lorsque ces</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps5349 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">contrats ne donnent lieu qu\u2019\u00e0 des paiements variables, ce</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps5251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">qui est g\u00e9n\u00e9ralement le cas, ceux-ci sont trait\u00e9s comme de</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps5351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:93.4pt\">simples contrats d\u2019achat.</span></div><div class=\"ps5254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Le Groupe n\u2019a pas conclu d\u2019autres types de contrats</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps5255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u2019approvisionnement en \u00e9nergie renouvelable conduisant \u00e0</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps5354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:164.89pt\">la revente physique ou virtuelle d\u2019\u00e9lectricit\u00e9.</span></div><div class=\"ps29521 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps448\">1.3.5<span style=\"display:inline-block;height:8.71pt;width:15.13pt\"></span></span><span class=\"ps17462\">R\u00e9mun\u00e9rations</span><span id=\"i408439c440874bdebd8fbe2f83170f16\"></span></span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:229.27pt\">Les plans d'attribution d'actions gratuites aux dirigeants du</span><span class=\"f charStyle-b2f078f6 ps455\" style=\"width:1.83pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:22.96pt\">Group</span><span class=\"f charStyle-165dec60 ps29523\" style=\"width:151.97pt\">e mis en place en 2023, 2024 et 2025 (cf. </span><span class=\"f charStyle-165dec60 ps29524\" style=\"width:31.52pt\">Note 6.4</span><span class=\"f charStyle-165dec60 ps29525\" style=\"width:22.81pt\">, page</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">412) incluent un objectif d'empreinte carbone</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29528 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:149.39pt\">respectivement \u00e0 fin\u00a02025, 2026 et\u00a02027.</span></div><div class=\"ps16850 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Par ailleurs, une partie de la r\u00e9mun\u00e9ration variable des</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">cadres et dirigeants du Groupe est conditionn\u00e9e \u00e0 l\u2019atteinte</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps16166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">d\u2019objectifs extra-financiers quantitatifs et qualitatifs, dont</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29530 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:198.96pt\">notamment l'empreinte carbone du Groupe en 2025.</span></div><div class=\"ps29531 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">Pour l\u2019\u00e9tablissement des \u00e9tats financiers pour l\u2019exercice clos</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps29533 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:15.23pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-68ecf294 ps14957\" style=\"width:75.08pt\"><span style=\"background-color:inherit\">31\u00a0d\u00e9cembre 2025</span></span><span class=\"f charStyle-68ecf294 ps29532\" style=\"width:138.97pt\"><span style=\"background-color:inherit\">, Valeo a consid\u00e9r\u00e9 que l\u2019objectif</span></span><span class=\"f charStyle-68ecf294 ps458\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps29534 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">d'empreinte carbone serait atteint \u00e0 chacune des \u00e9ch\u00e9ances</span></span><span class=\"f charStyle-68ecf294 ps458\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps29535 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:45.12pt\"><span style=\"background-color:inherit\">concern\u00e9es.</span></span></div><div class=\"ps29536 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65\"><span class=\"ps448\">1.3.6<span style=\"display:inline-block;height:8.71pt;width:14.75pt\"></span></span><span class=\"ps17462\">Financements</span><span id=\"ieb324dd4a1c940598aec8bdd7b62bbc1\"></span></span></div><div class=\"ps15318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">En 2021 et 2022, Valeo a mis en place des financements</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.73pt\">index\u00e9s </span><span class=\"f charStyle-81993cb5 ps29537\" style=\"width:194.56pt\">sur un objectif d'empreinte carbone, y compris</span><span class=\"f charStyle-81993cb5 ps467\" style=\"width:1.87pt\"> </span></div><div class=\"ps29542 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:79.75pt\">\u00e9missions \u00e9vit\u00e9es, </span><span class=\"f charStyle-49b068b5 ps29539\" style=\"width:84.4pt\">de 37,95 Mt eq.CO</span><span class=\"f charStyle-d147fd40 ps29540\" style=\"width:10.08pt\">2 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b068b5 ps29541\" style=\"width:55.06pt\">en 2025. Un</span><span class=\"f charStyle-49b068b5 ps467\" style=\"width:1.86pt\"> </span></div><div class=\"ps29544 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps448\" style=\"width:58.03pt\">rehaussement </span><span class=\"f charStyle-c709af45 ps19356\" style=\"width:83.25pt\">de 0,1\u00a0% \u00e0 0,75\u00a0% d</span><span class=\"f charStyle-165dec60 ps29543\" style=\"width:88pt\">es taux d\u2019int\u00e9r\u00eats des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:143.82pt\">coupons de ces dettes post\u00e9rieurs au </span><span class=\"f charStyle-c709af45 ps29545\" style=\"width:85.47pt\">31\u00a0d\u00e9cembre 2025 \u00e9tait</span><span class=\"f charStyle-c709af45 ps467\" style=\"width:1.87pt\"> </span></div><div class=\"ps29549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:31.35pt\">pr\u00e9vu e</span><span class=\"f charStyle-49b068b5 ps29547\" style=\"width:164.68pt\">n cas de non atteinte de cet objectif. </span><span class=\"f charStyle-c709af45 ps29548\" style=\"width:33.27pt\">L\u2019objectif</span><span class=\"f charStyle-c709af45 ps449\" style=\"width:1.87pt\"> </span></div><div class=\"ps4929 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:229.28pt\">d'empreinte carbone en 2025 ayant \u00e9t\u00e9 atteint, ces coupons</span><span class=\"f charStyle-81993cb5 ps458\" style=\"width:1.87pt\"> </span></div><div class=\"ps4931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:108.19pt\">ne seront pas rehauss\u00e9s. A</span><span class=\"f charStyle-c709af45 ps29550\" style=\"width:9.67pt\">u </span><span class=\"f charStyle-c709af45 ps29551\" style=\"width:71.72pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-c709af45 ps29552\" style=\"width:39.71pt\">, la valeur</span><span class=\"f charStyle-c709af45 ps467\" style=\"width:1.87pt\"> </span></div><div class=\"ps4933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:92.14pt\">comptable des dettes</span><span class=\"f charStyle-165dec60 ps29553\" style=\"width:137.16pt\"> qui incluent une telle clause</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.54pt\">d\u2019indexation s'\u00e9l\u00e8ve \u00e0 1,6 milliard d'euros (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29554\" style=\"width:42.2pt\">Note 9.1.2.1</span><span class=\"f charStyle-165dec60 ps29555\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:62.65pt\">pages 427 \u00e0 431).</span><span class=\"f charStyle-165dec60 ps29556\" style=\"width:1.96pt\"> </span></div><div class=\"ps29557 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">En 2023, 2024 et 2025, Valeo a \u00e9galement \u00e9mis des</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">obligations vertes pour un montant total de 2,55 milliards</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps14935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:45.27pt\">d'euros (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29559\" style=\"width:40.81pt\">Note 9.1.2.1</span><span class=\"f charStyle-165dec60 ps29560\" style=\"width:143.2pt\">, pages 427 \u00e0 431). Ces emprunts ne</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps14936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">contiennent pas de clause d\u2019indexation ou de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps14937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">remboursement anticip\u00e9 li\u00e9e \u00e0 l\u2019atteinte d\u2019objectifs</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps14938 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.68pt\">environnementaux.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-423": {
   "value": "<div class=\"ps29349 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.2.1<span id=\"i174bef4ac39244a29345693463cb9d15\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29305\"><span style=\"display:inline-block;height:8.71pt;width:16.97pt\"></span></span><span class=\"ps29285\">Estimations et jugements</span></span></div><div class=\"ps19007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.27pt\">La pr\u00e9paration des \u00e9tats financiers n\u00e9cessite de la part de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps415\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.3pt\">Valeo, d\u2019effectuer des estimations et de faire des hypoth\u00e8ses<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps608\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.26pt\">susceptibles d\u2019avoir un impact tant sur les montants des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps410\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6371 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.28pt\">actifs et des passifs que sur ceux des produits et des charges.</span><span class=\"f charStyle-d77d7991 ps610\" style=\"width:1.91pt\"> </span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.28pt\">Ces estimations et hypoth\u00e8ses concernent \u00e0 la fois les risques</span><span class=\"f charStyle-d77d7991 ps610\" style=\"width:1.91pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.29pt\">sp\u00e9cifiques li\u00e9s au m\u00e9tier d\u2019\u00e9quipementier automobile</span><span class=\"f charStyle-d77d7991 ps425\" style=\"width:1.91pt\"> </span></div><div class=\"ps6374 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.3pt\">(risques relatifs aux normes de qualit\u00e9 et de s\u00e9curit\u00e9) et les</span><span class=\"f charStyle-d77d7991 ps608\" style=\"width:1.91pt\"> </span></div><div class=\"ps6375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:229.33pt\">risques plus g\u00e9n\u00e9raux auxquels le Groupe est expos\u00e9 du fait</span><span class=\"f charStyle-d77d7991 ps412\" style=\"width:1.91pt\"> </span></div><div class=\"ps6376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps275\" style=\"width:214.53pt\">de son activit\u00e9 industrielle dans un contexte international.</span></div><div class=\"ps29350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Pour l\u2019exercice de son jugement, le Groupe se fonde sur son</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">exp\u00e9rience pass\u00e9e et sur l\u2019ensemble des informations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">disponibles consid\u00e9r\u00e9es comme d\u00e9terminantes au regard de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps15799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">son environnement et des circonstances. Les estimations et</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps15801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">hypoth\u00e8ses utilis\u00e9es sont r\u00e9examin\u00e9es de fa\u00e7on continue.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps15802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">En\u00a0raison des incertitudes inh\u00e9rentes \u00e0 tout processus</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">d\u2019\u00e9valuation, il est possible que les montants d\u00e9finitifs qui</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">figureront dans les futurs \u00e9tats financiers de Valeo soient</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:169.72pt\">diff\u00e9rents des valeurs actuellement estim\u00e9es.</span></div><div class=\"ps15806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.28pt\">Les estimations, les jugements ainsi que les hypoth\u00e8ses</span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> </span></div><div class=\"ps15807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.26pt\">pr\u00e9sentant un caract\u00e8re significatif qui ont \u00e9t\u00e9 retenus par le</span><span class=\"f charStyle-bd9dab06 ps410\" style=\"width:1.81pt\"> </span></div><div class=\"ps19019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.28pt\">Groupe pour l\u2019\u00e9tablissement des \u00e9tats financiers pour l\u2019exercice</span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> </span></div><div class=\"ps19021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:26.77pt\">clos au </span><span class=\"f charStyle-bd9dab06 ps29353\" style=\"width:65.06pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-bd9dab06 ps29354\" style=\"width:103.26pt\"> portent principalement sur :</span></div><div class=\"ps19863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">les conditions de capitalisation des frais de d\u00e9veloppement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19864 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:12.77pt\">(cf. </span><span class=\"f charStyle-165dec60 ps29355\" style=\"width:38.97pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps29356\" style=\"width:74.04pt\">, pages 399 et 400)\u00a0;</span></div><div class=\"ps29359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:139.33pt\">l\u2019estimation des provisions (cf. Notes </span><span class=\"f charStyle-165dec60 ps29357\" style=\"width:10.37pt\">6.3</span><span class=\"f charStyle-165dec60 ps29358\" style=\"width:72.47pt\">, pages 406 \u00e0 411 et</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:9.07pt\">8.1</span><span class=\"f charStyle-165dec60 ps29360\" style=\"width:73.4pt\">, pages 423 et 424)\u00a0;</span></div><div class=\"ps29361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.16pt\">les dur\u00e9es des contrats de location en ce qui concerne les</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">p\u00e9riodes optionnelles ainsi que la d\u00e9termination des taux</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:69.46pt\">d\u2019actualisation (cf. </span><span class=\"f charStyle-165dec60 ps8581\" style=\"width:30.54pt\">Note 7.3<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29363\" style=\"width:67.32pt\">, pages 416 \u00e0 418)\u00a0;</span></div><div class=\"ps29365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">l\u2019\u00e9valuation de la valeur recouvrable des immobilisations</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:116.18pt\">incorporelles et corporelles (cf. </span><span class=\"f charStyle-165dec60 ps29366\" style=\"width:31.27pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps29367\" style=\"width:68.34pt\">, pages 419 \u00e0 422)\u00a0;</span></div><div class=\"ps4942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">les perspectives d\u2019utilisation des actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:12.77pt\">(cf.\u00a0</span><span class=\"f charStyle-165dec60 ps29355\" style=\"width:33.82pt\">Note 10.2</span><span class=\"f charStyle-165dec60 ps4205\" style=\"width:72.84pt\">, pages 443 et 444).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-424": {
   "value": "<div class=\"ps29370 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">1.2.2<span id=\"i0be72bf365ab4776a222ee06dff4a76f\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29369\"><span style=\"display:inline-block;height:8.71pt;width:15.18pt\"></span></span><span class=\"ps29285\">Continuit\u00e9 d'exploitation et </span></span></div><div class=\"ps29371 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29287\">gestion\u00a0de\u00a0la\u00a0liquidit\u00e9 du Groupe</span></div><div class=\"ps5299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Les \u00e9tats financiers sont pr\u00e9par\u00e9s en application du principe<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps5300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de continuit\u00e9 d'exploitation. Le Groupe dispose d'une</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps5301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:53.57pt\">tr\u00e9sorerie et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps29372\" style=\"width:175.7pt\">de sources de financement suffisantes et a</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps5302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:80.44pt\">d\u00e9montr\u00e9 sa capacit\u00e9</span><span class=\"f charStyle-165dec60 ps29373\" style=\"width:82.69pt\"> \u00e0 \u00e9mettre de la dette.</span><span class=\"f charStyle-165dec60 ps29374\" style=\"width:1.96pt\"> </span></div><div class=\"ps7269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.42pt\">Au </span><span class=\"f charStyle-165dec60 ps29375\" style=\"width:67.56pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps15012\" style=\"width:68.85pt\">, Valeo dispose de </span><span class=\"f charStyle-165dec60 ps29376\" style=\"width:8.85pt\">1,6</span><span class=\"f charStyle-165dec60 ps29377\" style=\"width:71.65pt\">\u00a0milliard d'euros de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps7270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">lignes de cr\u00e9dit non tir\u00e9es ainsi que d'une structure</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps7271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:65.65pt\">financi\u00e8re stable\u00a0:</span></div><div class=\"ps2191 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:10.79pt\">2,4</span><span class=\"f charStyle-165dec60 ps10843\" style=\"width:140.1pt\"> milliards d'euros de Tr\u00e9sorerie nette ;</span></div><div class=\"ps29380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:126.57pt\">maturit\u00e9 moyenne de la dette de </span><span class=\"f charStyle-165dec60 ps29378\" style=\"width:10.76pt\">3,4</span><span class=\"f charStyle-165dec60 ps29379\" style=\"width:18.66pt\"> ans ;</span></div><div class=\"ps29381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.23pt\">ratio financier (endettement financier net / EBITDA Ajust\u00e9</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29384 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:114.72pt\">calcul\u00e9 sur 12 mois glissants) \u00e0 </span><span class=\"f charStyle-165dec60 ps29382\" style=\"width:8.51pt\">1,3</span><span class=\"f charStyle-165dec60 ps29383\" style=\"width:98.73pt\">, inf\u00e9rieur \u00e0 la limite de 3,5.</span></div><div class=\"ps29385 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.29pt\">Dans sa gestion du risque de liquidit\u00e9, le Groupe veille \u00e0 r\u00e9partir</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps29386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:215.26pt\">les \u00e9ch\u00e9ances de remboursement de sa dette \u00e0 long terme.</span></div><div class=\"ps29388 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-22e622cc ps448\">\u00c9CH\u00c9ANCIER CONTRACTUEL DES DETTES <span id=\"id19b5bed3e724315849da3be4cecec8e\"></span></span></div><div class=\"ps29389 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-22e622cc ps448\">FINANCI\u00c8RES\u00a0\u00c0\u00a0LONG TERME</span></div><div class=\"ps29390 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-a8abcdde ps448\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div><div class=\"ps29391 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ps407\"><div class=\"ps1\"><img alt=\"2769\" id=\"i-781\" 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\" style=\"height:130.39pt;width:229.6pt\"/></div></div></div><div class=\"ps29392 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:229.31pt\">Les flux futurs pr\u00e9sent\u00e9s ci-dessus, \u00e0 la fois les coupons et les</span><span class=\"f charStyle-776a1ec6 ps460\" style=\"width:1.7pt\"> </span></div><div class=\"ps29393 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:229.33pt\">remboursements du principal, ne sont pas actualis\u00e9s. Pour les</span><span class=\"f charStyle-776a1ec6 ps450\" style=\"width:1.7pt\"> </span></div><div class=\"ps29396 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:143.66pt\">int\u00e9r\u00eats variables, la courbe forward au </span><span class=\"f charStyle-776a1ec6 ps29394\" style=\"width:62.89pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-776a1ec6 ps29395\" style=\"width:22.71pt\"> a \u00e9t\u00e9</span><span class=\"f charStyle-776a1ec6 ps471\" style=\"width:1.7pt\"> </span></div><div class=\"ps29397 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps448\" style=\"width:24.59pt\">utilis\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps29398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Le Groupe a r\u00e9alis\u00e9 plusieurs op\u00e9rations de financement au</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.4pt\">cours de l'exercice </span><span class=\"f charStyle-165dec60 ps29399\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29400\" style=\"width:132.21pt\">, notamment l'\u00e9mission de deux<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29402 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:229.29pt\">nouvelles obligations vertes en mai et septembre pour</span><span class=\"f charStyle-9206869b ps467\" style=\"width:1.9pt\"> </span></div><div class=\"ps29404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:106.25pt\">respectivement 650 millions</span><span class=\"f charStyle-165dec60 ps29403\" style=\"width:123.01pt\"> d\u2019euros \u00e0 \u00e9ch\u00e9ance mai 2031 et</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29408 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:16.12pt\">500 </span><span class=\"f charStyle-9206869b ps29405\" style=\"width:28.94pt\">millions</span><span class=\"f charStyle-165dec60 ps29406\" style=\"width:116.71pt\"> d\u2019euros \u00e0 \u00e9ch\u00e9ance mars 2032.</span><span class=\"f charStyle-165dec60 ps29407\" style=\"width:1.96pt\"> </span></div><div class=\"ps29409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">Les d\u00e9tails sur l'endettement financier du Groupe et les</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps29413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:85.91pt\">op\u00e9rations financi\u00e8res</span><span class=\"f charStyle-165dec60 ps29410\" style=\"width:83.78pt\"> significatives de </span><span class=\"f charStyle-165dec60 ps29411\" style=\"width:34.56pt\">l'exercice</span><span class=\"f charStyle-165dec60 ps29412\" style=\"width:25.07pt\"> sont</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29416 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.64pt\">pr\u00e9sent\u00e9s dans la </span><span class=\"f charStyle-165dec60 ps29414\" style=\"width:24.88pt\">Note 9</span><span class=\"f charStyle-165dec60 ps29415\" style=\"width:65.01pt\">, pages 424 \u00e0 441.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-425": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"iefa42d9ec31c44889c637fbc6b861d23\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps6093\"><span style=\"display:inline-block;height:13.55pt;width:36.76pt\"></span></span><span class=\"ps29233\">Contexte</span></span><span class=\"f charStyle-26f8f9e5 ps13880\"> \u00e9conomique et g\u00e9opolitique international</span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">2.1<span id=\"ib6a8bde69289481d8de25b26a4ea50f3\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29345\"><span style=\"display:inline-block;height:10.16pt;width:29.47pt\"></span></span><span class=\"ps408\">Cons\u00e9quences des \u00e9volutions </span></span></div><div class=\"ps29562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps2788\">politiques et r\u00e9glementaires</span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Aux \u00c9tats-Unis, les politiques mises en oeuvre par la nouvelle</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">administration depuis janvier 2025 cr\u00e9ent un cadre moins</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">favorable \u00e0 l\u2019\u00e9lectrification du march\u00e9. Des mesures ont</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">notamment \u00e9t\u00e9 prises pour att\u00e9nuer la port\u00e9e des</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:154.09pt\">subventions \u00e0 l\u2019achat introduites par l\u2019</span><span class=\"f charStyle-e8054d08 ps13424\" style=\"width:75.23pt\">Inflation Reduction</span><span class=\"f charStyle-e8054d08 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:12.63pt\">Act</span><span class=\"f charStyle-165dec60 ps29563\" style=\"width:209.95pt\"> et les normes d\u2019\u00e9missions ont \u00e9t\u00e9 fortement assouplies.</span></div><div class=\"ps2341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:147.51pt\">En Europe, la r\u00e9glementation CAFE (</span><span class=\"f charStyle-e8054d08 ps29564\" style=\"width:81.81pt\">\u00ab Corporate Average</span><span class=\"f charStyle-e8054d08 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2267 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:60.11pt\">Fuel Economy \u00bb</span><span class=\"f charStyle-165dec60 ps29565\" style=\"width:169.21pt\">), qui impose de respecter des seuils moyens</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">d\u2019\u00e9missions, pousse les constructeurs \u00e0 accro\u00eetre leurs ventes</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">de v\u00e9hicules \u00e9lectriques. Le rythme de cette croissance</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">devrait n\u00e9anmoins \u00eatre moins soutenu que celui qui \u00e9tait</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2274 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">anticip\u00e9 par le pass\u00e9, notamment du fait d\u2019une diminution</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">des dispositifs de subvention \u00e0 l\u2019achat et de la fragilit\u00e9 du</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">consensus politique autour des restrictions qui seront</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:97.66pt\">impos\u00e9es \u00e0 l\u2019horizon 2035.</span></div><div class=\"ps2348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Ce contexte a amen\u00e9 un certain nombre de constructeurs \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps5055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">restructurer leurs programmes dans l\u2019\u00e9lectrique en 2025.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps3027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Certaines de ces d\u00e9cisions ont conduit \u00e0 des r\u00e9siliations de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps3028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">contrats et \u00e0 des r\u00e9ductions de volumes significatives sur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps3029 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:101.74pt\">certains projets du Groupe.</span></div><div class=\"ps6196 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Les immobilisations corporelles et incorporelles li\u00e9es aux</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps6198 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">projets r\u00e9sili\u00e9s ont fait l\u2019objet de tests de d\u00e9pr\u00e9ciation au 31</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6199 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">d\u00e9cembre 2025. Des pertes de valeur ont \u00e9t\u00e9 comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">pour chaque actif test\u00e9 d\u00e8s lors que sa valeur recouvrable</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps5325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">\u00e9tait inf\u00e9rieure \u00e0 sa valeur nette comptable (cf.\u00a0Note 7.2,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps5326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">page 414 et 7.3, pages 416 \u00e0 418). Les stocks devenus</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps3036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:39.72pt\">obsol\u00e8tes </span><span class=\"f charStyle-165dec60 ps29566\" style=\"width:189.54pt\">du fait de ces changements ont \u00e9galement fait</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps3037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:204.48pt\">l\u2019objet de d\u00e9pr\u00e9ciations (cf. Note 5.4, pages 398 et 399).</span></div><div class=\"ps6204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe a en outre constitu\u00e9 des provisions lorsqu\u2019il a jug\u00e9</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">probable qu\u2019une sortie de ressources repr\u00e9sentatives</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6206 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">d\u2019avantages \u00e9conomiques sera n\u00e9cessaire pour \u00e9teindre</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6207 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">certaines obligations en lien avec ces annulations et ces</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps6208 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:188.06pt\">baisses de volumes (cf. Note 8.1, pages 423 et 424).</span><span class=\"f charStyle-165dec60 ps29567\" style=\"width:1.96pt\"> </span></div><div class=\"ps6211 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.61pt\">Les </span><span class=\"f charStyle-165dec60 ps29568\" style=\"width:214.68pt\">indemnit\u00e9s obtenues par Valeo de ces clients portant sur</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps6213 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">des contrats r\u00e9sili\u00e9s ou sur des obligations de performance</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps6216 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">satisfaites ont \u00e9t\u00e9 comptabilis\u00e9es en chiffre d\u2019affaires (cf.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6218 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:70.91pt\">Note 5.1, page 396).</span></div><div class=\"ps6221 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">Par ailleurs, le Groupe a tenu compte de ces \u00e9volutions dans</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps6222 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:10.2pt\">les</span><span class=\"f charStyle-9c680f66 ps27463\" style=\"width:219.03pt\"> plans \u00e0 moyen terme sur la base desquels sont r\u00e9alis\u00e9s les</span><span class=\"f charStyle-9c680f66 ps4098\" style=\"width:1.93pt\"> </span></div><div class=\"ps6223 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:17.78pt\">tests</span><span class=\"f charStyle-165dec60 ps29569\" style=\"width:211.52pt\"> de d\u00e9pr\u00e9ciation des unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps6224 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.23pt\">des </span><span class=\"f charStyle-e8054d08 ps29570\" style=\"width:34.19pt\">goodwill </span><span class=\"f charStyle-165dec60 ps29571\" style=\"width:12.77pt\">(cf. </span><span class=\"f charStyle-165dec60 ps29572\" style=\"width:31.27pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps29573\" style=\"width:66.38pt\">, pages 419 \u00e0 422).</span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">2.2<span id=\"if594eb1a3e04402da1fd03eaf26f5c69\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29581\"><span style=\"display:inline-block;height:10.16pt;width:27.39pt\"></span></span><span class=\"ps29267\">Impact des mesures douani\u00e8res </span></span></div><div class=\"ps29562 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">am\u00e9ricaines</span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">L'exercice 2025 a \u00e9t\u00e9 marqu\u00e9 par l'entr\u00e9e en vigueur de</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">droits de douane additionnels aux \u00c9tats-Unis sur certaines</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">cat\u00e9gories de produits import\u00e9s, entre autres les pi\u00e8ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">automobiles et certains de leurs composants contenant de</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">l\u2019acier, de l\u2019aluminium ou du cuivre, ainsi qu\u2019une modulation</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:222.06pt\">des droits \u00e0 payer en fonction de l\u2019origine des importations.</span></div><div class=\"ps2341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Valeo a entrepris une revue exhaustive de sa cha\u00eene</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2267 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">d\u2019approvisionnement pour s'efforcer de r\u00e9duire l'impact des</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">nouveaux droits. Ces actions ont notamment permis</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">d'atteindre un taux de conformit\u00e9 \u00e0 l'accord USMCA (\u00ab</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:160.06pt\">United States-Mexico-Canada Agreement</span><span class=\"f charStyle-165dec60 ps29582\" style=\"width:69.25pt\"> \u00bb) de plus de 90 %</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2274 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">pour les produits fabriqu\u00e9s par le Groupe au Mexique et</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps2276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:91.65pt\">import\u00e9s aux \u00c9tats-Unis.</span><span class=\"f charStyle-165dec60 ps29583\" style=\"width:1.96pt\"> </span></div><div class=\"ps2346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Pour les produits concern\u00e9s par l\u2019augmentation des droits</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2347 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">de douane en 2025, le Groupe a obtenu des compensations</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">de ses clients en Am\u00e9rique du Nord. L'impact net r\u00e9siduel</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps5055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">sur le r\u00e9sultat consolid\u00e9 du Groupe au 31 d\u00e9cembre 2025 est</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps3027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:57.05pt\">non significatif.</span></div><div class=\"ps8710 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Pour l'\u00e9tablissement de ses \u00e9tats financiers consolid\u00e9s pour</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps6195 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">la p\u00e9riode close au 31 d\u00e9cembre 2025, le Groupe a tenu</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps6196 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">compte, tant pour l\u2019\u00e9valuation de la valeur recouvrable de</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6198 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">ses immobilisations corporelles et incorporelles que pour</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps6199 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">l'estimation de ses provisions, des droits de douane qu\u2019il</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps5324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">s\u2019attend \u00e0 payer \u00e0 l\u2019avenir et des montants de compensation</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps5325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">qu\u2019il s\u2019attend \u00e0 recevoir de ses clients. Pour estimer ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps5326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">montants sur les contrats de vente conclus ant\u00e9rieurement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps3036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">\u00e0 la mise en place des nouveaux droits de douane, Valeo</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">s\u2019est appuy\u00e9 sur le niveau des droits de douane en vigueur \u00e0</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps3038 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">fin 2025 et sur les compensations obtenues par le Groupe au</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps3039 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.06pt\">cours de la p\u00e9riode.</span></div><div class=\"ps6206 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Le 20 f\u00e9vrier 2026, la Cour supr\u00eame des \u00c9tats-Unis a invalid\u00e9</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps6207 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">les droits de douane mis en place par le pr\u00e9sident Trump en</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6208 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:92.85pt\">2025 en application de l\u2019</span><span class=\"f charStyle-e8054d08 ps29584\" style=\"width:136.48pt\">International Emergency Economic</span><span class=\"f charStyle-e8054d08 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps8352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:42.58pt\">Powers Act</span><span class=\"f charStyle-165dec60 ps29585\" style=\"width:186.67pt\"> (\u00ab IEEPA \u00bb). Cette d\u00e9cision ne remet pas en cause</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps3044 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">la validit\u00e9 des augmentations de droits de douane qui ont</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3045 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">\u00e9t\u00e9 mises en place via d'autres voies l\u00e9gales comme la</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3046 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.13pt\">section 232 du </span><span class=\"f charStyle-e8054d08 ps29586\" style=\"width:86.34pt\">Trade Expansion Act</span><span class=\"f charStyle-165dec60 ps29587\" style=\"width:74.86pt\"> par exemple. En</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2999 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">r\u00e9ponse \u00e0 la d\u00e9cision de la Cour supr\u00eame, l\u2019instauration</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps3000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">d\u2019une nouvelle taxe \u00e0 l\u2019importation de 15 % a \u00e9t\u00e9 d\u00e9cid\u00e9e par</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps3001 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">le pr\u00e9sident am\u00e9ricain. A la date d\u2019arr\u00eat\u00e9 des comptes, le 26</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">f\u00e9vrier 2026, des incertitudes subsistent quant aux</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps3003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">incidences directes et indirectes d\u00e9coulant de ces d\u00e9cisions.</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps3004 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe consid\u00e8re toutefois que ces incidences ne sont</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3005 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:174.3pt\">pas de nature \u00e0 remettre en cause les </span><span class=\"f charStyle-81f42323 ps29588\" style=\"width:54.98pt\">estimations et</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps3007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:39.38pt\">jugements</span><span class=\"f charStyle-165dec60 ps29589\" style=\"width:189.9pt\"> retenus pour l\u2019\u00e9tablissement de ses comptes au</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps5334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:69.05pt\">31 d\u00e9cembre 2025.</span></div><div class=\"ps3009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Le Groupe continue de suivre avec attention l\u2019\u00e9volution des</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps3010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">droits de douane aux \u00c9tats-Unis ainsi que dans les autres</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps3011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pays dans lesquels il op\u00e8re afin d'en mesurer l\u2019incidence et</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3013 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:161.23pt\">d\u2019en att\u00e9nuer au maximum l'impact direct.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-426": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"ie64963ad11814eb9841374e16db6f5d6\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">3<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps13293\"><span style=\"display:inline-block;height:13.55pt;width:36.7pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">P\u00e9rim\u00e8tre</span><span class=\"f charStyle-26f8f9e5 ps29591\"> de consolidation</span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">3.1<span id=\"ie960286081af4e2ab14862c9640d23a6\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29592\"><span style=\"display:inline-block;height:10.16pt;width:29.45pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Principes comptables li\u00e9s au p\u00e9rim\u00e8tre de consolidation<span class=\"f ps53\"> </span></span></div><div class=\"ps29599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29596\">3.1.1<span class=\"f ps53\"> </span><span id=\"i78cbcd0516c1498388e1b39fba5dbc07\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29597\"><span style=\"display:inline-block;height:8.71pt;width:16.96pt\"></span></span><span class=\"ps29598\">Principes de consolidation</span></span></div><div class=\"ps29601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.1<span class=\"f ps53\"> </span><span id=\"ibdc9bbe6a2ae4657a0b4a3f6e5da263b\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29600\"><span style=\"display:inline-block;height:8.22pt;width:12.34pt\"></span></span><span class=\"ps29598\">Int\u00e9gration globale</span></span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.92pt\">La m\u00e9thode de l\u2019int\u00e9gration globale est appliqu\u00e9e pour la</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">consolidation des \u00e9tats financiers des soci\u00e9t\u00e9s dans</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">lesquelles Valeo exerce directement ou indirectement le</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:213.61pt\">contr\u00f4le. Le contr\u00f4le d\u2019une soci\u00e9t\u00e9 existe lorsque le Groupe\u00a0:</span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:120.6pt\">d\u00e9tient le pouvoir sur la soci\u00e9t\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">est expos\u00e9 ou a droit \u00e0 des rendements variables en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:127.26pt\">raison de ses liens avec la soci\u00e9t\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">a la capacit\u00e9 d\u2019exercer son pouvoir sur les activit\u00e9s</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps29602 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">jug\u00e9es pertinentes de la soci\u00e9t\u00e9 de mani\u00e8re \u00e0 influer sur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29603 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.15pt\">le montant des rendements qu\u2019il obtient.</span></div><div class=\"ps29604 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Toutes les transactions entre les filiales consolid\u00e9es sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29605 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">\u00e9limin\u00e9es, de m\u00eame que les r\u00e9sultats internes au Groupe</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.52pt\">(plus-values, profits sur stocks, dividendes).</span></div><div class=\"ps29606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les r\u00e9sultats des filiales acquises sont consolid\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29607 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:192.76pt\">compter de la date \u00e0 laquelle le contr\u00f4le est exerc\u00e9.</span></div><div class=\"ps29609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.2<span id=\"iafe3fcdee4f24ee7be3c5728d91001c9\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29608\"><span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29598\">Mise en \u00e9quivalence des\u00a0coentreprises </span></span></div><div class=\"ps29611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29610\">et\u00a0des entreprises associ\u00e9es</span></div><div class=\"ps13611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.99pt\">Des contrats de partenariat organisent le contr\u00f4le d\u2019une</span><span class=\"f charStyle-b2f078f6 ps412\" style=\"width:1.83pt\"> </span></div><div class=\"ps13613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:28.49pt\">soci\u00e9t\u00e9 </span><span class=\"f charStyle-81993cb5 ps29612\" style=\"width:189.47pt\">et pr\u00e9voient un contr\u00f4le conjoint d\u2019au moins deux</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps13614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:43.27pt\">partenaires.</span><span class=\"f charStyle-165dec60 ps29613\" style=\"width:2.45pt\"> </span><span class=\"f charStyle-9c680f66 ps29614\" style=\"width:172.26pt\">Un partenariat dans lequel les parties ont des</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:63.34pt\">droits sur l\u2019actif</span><span class=\"f charStyle-165dec60 ps29615\" style=\"width:154.64pt\"> net est appel\u00e9 \u00ab\u00a0coentreprise\u00a0\u00bb. Un</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">partenariat dans lequel les parties ont des droits sur les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:105.91pt\">actifs, et des obligations au </span><span class=\"f charStyle-c8069515 ps29616\" style=\"width:112.07pt\">titre des passifs du partenariat</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:114.05pt\">est appel\u00e9 \u00ab\u00a0activit\u00e9 conjointe\u00a0\u00bb.</span></div><div class=\"ps13622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.96pt\">Valeo exerce \u00e9galement une influence notable dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps608\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:33.85pt\">certaines</span><span class=\"f charStyle-165dec60 ps29617\" style=\"width:184.11pt\"> soci\u00e9t\u00e9s, appel\u00e9es entreprises associ\u00e9es.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">L\u2019influence notable se caract\u00e9rise par le pouvoir de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">participer aux d\u00e9cisions relatives aux politiques</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">financi\u00e8res et op\u00e9rationnelles de la soci\u00e9t\u00e9, sans toutefois</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">contr\u00f4ler ou contr\u00f4ler conjointement ces politiques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">L\u2019influence notable est pr\u00e9sum\u00e9e lorsque plus de 20\u00a0%</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des droits de vote sont d\u00e9tenus. Ces coentreprises et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29620 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">entreprises associ\u00e9es sont comptabilis\u00e9es selon la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29621 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">m\u00e9thode de la mise en \u00e9quivalence. Cette m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">consiste \u00e0 enregistrer, \u00e0 la date \u00e0 laquelle la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">devient une entreprise associ\u00e9e ou une coentreprise, une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">participation dans les soci\u00e9t\u00e9s mises en \u00e9quivalence dans</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:156.96pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e.</span><span class=\"f charStyle-165dec60 ps29625\" style=\"width:1.96pt\"> </span></div><div class=\"ps11398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Cette participation est initialement comptabilis\u00e9e au co\u00fbt</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11400 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">d\u2019acquisition. Au cas sp\u00e9cifique d\u2019une perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps14146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.99pt\">d\u2019une filiale emportant la comptabilisation d\u2019une</span><span class=\"f charStyle-4afdd138 ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps14147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:47.32pt\">participation</span><span class=\"f charStyle-165dec60 ps29626\" style=\"width:170.67pt\"> dans une coentreprise ou dans une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">entreprise associ\u00e9e, le co\u00fbt initial de cette participation</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">est \u00e9gal \u00e0 sa juste valeur \u00e0 la date de la perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">conform\u00e9ment \u00e0 IFRS 10.25. Elle est ensuite ajust\u00e9e apr\u00e8s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19419 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">la date d\u2019acquisition de la quote-part du Groupe dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">r\u00e9sultat global non distribu\u00e9 de l\u2019entreprise d\u00e9tenue. Ces</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">r\u00e9sultats peuvent \u00eatre retrait\u00e9s pour une mise en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:174.79pt\">conformit\u00e9 avec les principes comptables </span><span class=\"f charStyle-7cdffd50 ps29627\" style=\"width:43.2pt\">du Groupe.</span><span class=\"f charStyle-7cdffd50 ps412\" style=\"width:1.77pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps6588\" style=\"width:15.06pt\">Le\u00a0</span><span class=\"f charStyle-d7795f5b ps29628\" style=\"width:30.71pt\">goodwill</span><span class=\"f charStyle-7cdffd50 ps29629\" style=\"width:172.19pt\"> se rapportant \u00e0 l\u2019acquisition d\u2019entreprises</span><span class=\"f charStyle-b2f078f6 ps608\" style=\"width:1.83pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">associ\u00e9es ou de coentreprises est inclus dans la ligne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.59pt\">\u00ab\u00a0Participations</span><span class=\"f charStyle-b2f078f6 ps29630\" style=\"width:149.11pt\"> dans les soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps19434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.99pt\">Les modalit\u00e9s d\u2019\u00e9valuation des participations dans les</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps29633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:32.27pt\">soci\u00e9t\u00e9s </span><span class=\"f charStyle-165dec60 ps29632\" style=\"width:185.7pt\">mises en \u00e9quivalence sont r\u00e9gies par les normes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">IFRS 9 \u00ab\u00a0Instruments financiers\u00a0: comptabilisation et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62.17pt\">\u00e9valuation \u00bb et </span><span class=\"f charStyle-9206869b ps12826\" style=\"width:155.78pt\">IAS 28 r\u00e9vis\u00e9e \u00ab\u00a0Participations dans des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:78.2pt\">entreprises associ\u00e9es</span><span class=\"f charStyle-165dec60 ps29636\" style=\"width:84.87pt\"> et des coentreprises\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps29637\" style=\"width:1.96pt\"> </span></div><div class=\"ps29639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les pertes de valeur susceptibles d\u2019\u00eatre comptabilis\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">sur les participations des soci\u00e9t\u00e9s mises en \u00e9quivalence,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">ainsi que le profit ou la perte li\u00e9s \u00e0 la r\u00e9\u00e9valuation \u00e0 sa</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">juste valeur de la quote-part ant\u00e9rieurement d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29643 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">(lors de la prise de contr\u00f4le d\u2019une soci\u00e9t\u00e9 mise en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00e9quivalence) sont enregistr\u00e9s sur la ligne \u00ab\u00a0Quote-part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:202.2pt\">dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps29647 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.19pt\">La liste des soci\u00e9t\u00e9s consolid\u00e9es est pr\u00e9sent\u00e9e en </span><span class=\"f charStyle-165dec60 ps29646\" style=\"width:28.2pt\">Note 14</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.42pt\">pages 450 \u00e0 457 .</span></div><div class=\"ps29599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29649\">3.1.2<span id=\"i578675c6034c4c82affc3dd05f53a2ad\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29650\"><span style=\"display:inline-block;height:8.71pt;width:15.17pt\"></span></span><span class=\"ps29651\">M\u00e9thodes de conversion</span></span></div><div class=\"ps29601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29652\">3.1.2.1<span id=\"i4d407a1cf8324c8e9304fa8ef97cd635\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29653\"><span style=\"display:inline-block;height:8.22pt;width:10.67pt\"></span></span><span class=\"ps29654\">Conversion des \u00e9tats financiers libell\u00e9s </span></span></div><div class=\"ps29655 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29651\">en\u00a0devises \u00e9trang\u00e8res</span></div><div class=\"ps16137 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:217.97pt\">Les comptes consolid\u00e9s du Groupe sont pr\u00e9sent\u00e9s en</span><span class=\"f charStyle-9c680f66 ps16278\" style=\"width:1.93pt\"> </span></div><div class=\"ps2111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:20.78pt\">euros</span><span class=\"f charStyle-165dec60 ps29656\" style=\"width:1.59pt\">.</span></div><div class=\"ps7096 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les \u00e9tats financiers de chacune des soci\u00e9t\u00e9s consolid\u00e9es</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps26551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">du\u00a0Groupe sont pr\u00e9par\u00e9s dans la monnaie fonctionnelle,</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-4afdd138 ps6329\" style=\"width:213.77pt\">\u2019est\u2011\u00e0\u2011dire dans la monnaie de l\u2019environnement</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:47.23pt\">\u00e9conomique</span><span class=\"f charStyle-165dec60 ps29657\" style=\"width:6.36pt\"> </span><span class=\"f charStyle-5064d44f ps29658\" style=\"width:164.38pt\">principal dans lequel elle op\u00e8re et qui</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:85.3pt\">correspond, en g\u00e9n\u00e9ral</span><span class=\"f charStyle-165dec60 ps29659\" style=\"width:77.51pt\">, \u00e0 la monnaie locale.</span><span class=\"f charStyle-165dec60 ps29660\" style=\"width:1.96pt\"> </span></div><div class=\"ps8378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les \u00e9tats financiers des soci\u00e9t\u00e9s dont la monnaie</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">fonctionnelle n\u2019est pas l\u2019euro sont convertis en euros<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:95.12pt\">comme indiqu\u00e9 ci\u2011apr\u00e8s\u00a0:</span></div><div class=\"ps8380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">les postes de l\u2019\u00e9tat de la situation financi\u00e8re sont</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps8381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">convertis en euros sur la base des cours de change\u00a0 en</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:154.4pt\">vigueur \u00e0 la date de cl\u00f4ture de l\u2019exercice\u00a0;</span></div><div class=\"ps16153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">les postes du compte de r\u00e9sultat sont convertis en euros</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16154 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">au cours de change aux dates de transaction ou en</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps16155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">pratique, au cours moyen de la p\u00e9riode tant que celui-ci</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">n\u2019est pas remis en cause par des \u00e9volutions significatives</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps29664 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:39.4pt\">des cours\u00a0;</span></div><div class=\"ps29665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">les gains et pertes latents r\u00e9sultant de la conversion des</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">\u00e9tats financiers des soci\u00e9t\u00e9s \u00e9trang\u00e8res sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29667 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">comptabilis\u00e9s dans les autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">global recyclables en r\u00e9sultat sur la ligne \u00ab\u00a0\u00c9carts de</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps29670 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:48.14pt\">conversion\u00a0\u00bb.</span></div><div class=\"ps4055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe applique les dispositions de la norme IAS 29</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4057 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00ab\u00a0Information financi\u00e8re dans les \u00e9conomies hyper-</span></div><div class=\"ps4059 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">inflationnistes\u00a0\u00bb aux soci\u00e9t\u00e9s dont la monnaie</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4060 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">fonctionnelle est consid\u00e9r\u00e9e comme \u00e9tant en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">hyperinflation. Les \u00e9tats financiers des soci\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">concern\u00e9es sont retrait\u00e9s des effets de l'inflation</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">(convention du co\u00fbt historique), ils sont ensuite convertis<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dans la monnaie de pr\u00e9sentation du Groupe au cours de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.13pt\">cl\u00f4ture.</span></div><div class=\"ps29676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29649\">3.1.2.2<span id=\"i046d55045fef469c86881459f310a5ab\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29675\"><span style=\"display:inline-block;height:8.22pt;width:8.98pt\"></span></span><span class=\"ps29651\">Transactions en devises \u00e9trang\u00e8res</span></span></div><div class=\"ps29677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Cas g\u00e9n\u00e9ral<span id=\"ieea20811e09e46a9837ca3c84a509e74\"></span></span></div><div class=\"ps29678 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les transactions r\u00e9alis\u00e9es par une soci\u00e9t\u00e9 dans une devise</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12562 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">autre que sa monnaie fonctionnelle sont converties au</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.77pt\">cours </span><span class=\"f charStyle-9c680f66 ps29679\" style=\"width:195.17pt\">de change en vigueur au moment de la transaction.</span><span class=\"f charStyle-9c680f66 ps16283\" style=\"width:1.93pt\"> </span></div><div class=\"ps8946 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:37.64pt\">Les actifs </span><span class=\"f charStyle-165dec60 ps29681\" style=\"width:180.31pt\">et passifs mon\u00e9taires exprim\u00e9s en devises sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">convertis au cours de cl\u00f4ture. Les actifs et passifs non</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">mon\u00e9taires libell\u00e9s en devises \u00e9trang\u00e8res sont</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">comptabilis\u00e9s au cours historique en vigueur \u00e0 la date de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2843 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.63pt\">la transaction.</span></div><div class=\"ps29682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les diff\u00e9rences de change r\u00e9sultant de la conversion des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">transactions en devises sont g\u00e9n\u00e9ralement incluses dans</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.88pt\">le compte de r\u00e9sultat.</span></div><div class=\"ps29685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Investissement net<span id=\"i0dcdf527617b4ab59dddeeaef5d7ba8b\"></span></span></div><div class=\"ps4802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.95pt\">Certains pr\u00eats et emprunts libell\u00e9s en devises \u00e9trang\u00e8res<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16281\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:16.23pt\">sont</span><span class=\"f charStyle-165dec60 ps29308\" style=\"width:201.73pt\"> consid\u00e9r\u00e9s, en substance, comme faisant partie</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">int\u00e9grante de l\u2019investissement net dans une filiale dont la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro, lorsque le</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps4809 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.12pt\">r\u00e8glement n\u2019est ni </span><span class=\"f charStyle-d96cb356 ps29686\" style=\"width:140.83pt\">planifi\u00e9, ni probable dans un avenir</span><span class=\"f charStyle-d96cb356 ps16281\" style=\"width:1.92pt\"> </span></div><div class=\"ps4810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps448\" style=\"width:95.29pt\">pr\u00e9visible. Les diff\u00e9rences</span><span class=\"f charStyle-165dec60 ps29687\" style=\"width:2.25pt\"> </span><span class=\"f charStyle-cea761f8 ps29688\" style=\"width:120.4pt\">de change relatives \u00e0 ces pr\u00eats et</span><span class=\"f charStyle-cea761f8 ps16283\" style=\"width:1.78pt\"> </span></div><div class=\"ps4811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:116.88pt\">emprunts sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps29689\" style=\"width:101.09pt\"> en autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global, dans les \u00e9carts de conversion, pour leur</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps4813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">montant net d\u2019imp\u00f4ts. Ce traitement sp\u00e9cifique</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4814 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">s\u2019applique jusqu\u2019\u00e0 la date de sortie d\u00e9finitive de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">l\u2019investissement net ou au moment o\u00f9 le remboursement</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">partiel ou total de ces emprunts ou dettes devient</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:39.17pt\">hautemen</span><span class=\"f charStyle-165dec60 ps29690\" style=\"width:40.49pt\">t probable.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps6588\" style=\"width:217.97pt\">\u00c0 compter de la date de d\u00e9qualification de l\u2019investissement</span><span class=\"f charStyle-858f3e4c ps418\" style=\"width:1.81pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps6588\" style=\"width:13.63pt\">net,</span><span class=\"f charStyle-165dec60 ps28153\" style=\"width:204.33pt\"> les \u00e9carts de conversion g\u00e9n\u00e9r\u00e9s post\u00e9rieurement \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">cette m\u00eame date sont comptabilis\u00e9s en autres produits</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">et charges financiers dans le compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:101.45pt\">consolid\u00e9. Les \u00e9carts </span><span class=\"f charStyle-bd02d35c ps29692\" style=\"width:116.54pt\">de conversion comptabilis\u00e9s</span><span class=\"f charStyle-bd02d35c ps412\" style=\"width:1.76pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:132.57pt\">ant\u00e9rieurement en autres \u00e9l\u00e9ments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps18407\" style=\"width:3.6pt\"> </span><span class=\"f charStyle-d96cb356 ps29564\" style=\"width:81.77pt\">du r\u00e9sultat global ne</span><span class=\"f charStyle-d96cb356 ps610\" style=\"width:1.92pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:153.5pt\">sont recycl\u00e9s en r\u00e9sultat qu\u2019\u00e0 la date de</span><span class=\"f charStyle-165dec60 ps29693\" style=\"width:64.44pt\"> cession partielle</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:158.55pt\">ou totale de la\u00a0filiale. Le Groupe examine </span><span class=\"f charStyle-81f42323 ps29694\" style=\"width:59.33pt\">au cas par cas si</span><span class=\"f charStyle-81f42323 ps4806\" style=\"width:1.78pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:184.23pt\">le remboursement partiel ou total de l\u2019emprunt <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29695\" style=\"width:33.69pt\">ou dette</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.84pt\">constitue une sortie partielle ou totale de la filiale.</span></div><div class=\"ps29697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29596\">3.1.3<span id=\"ic85d95ce497944f4848a519dd5289cf1\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29696\"><span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps29598\">Regroupements d\u2019entreprises</span></span></div><div class=\"ps29698 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les regroupements d\u2019entreprises sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:127.16pt\">selon la m\u00e9thode de l\u2019acquisition\u00a0:</span></div><div class=\"ps26928 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">le co\u00fbt d\u2019une acquisition est \u00e9valu\u00e9 \u00e0 la juste valeur de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">contrepartie transf\u00e9r\u00e9e, y compris tout ajustement de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:20.34pt\">prix, </span><span class=\"f charStyle-81f42323 ps29700\" style=\"width:191.92pt\">\u00e0 la date de prise de contr\u00f4le. \u00c0 l\u2019issue du d\u00e9lai</span><span class=\"f charStyle-81f42323 ps8474\" style=\"width:1.78pt\"> </span></div><div class=\"ps26930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:44.86pt\">d\u2019affectation</span><span class=\"f charStyle-165dec60 ps5464\" style=\"width:167.41pt\">, toute variation ult\u00e9rieure de juste valeur</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:69.57pt\">d\u2019un ajustement d</span><span class=\"f charStyle-d96cb356 ps29701\" style=\"width:142.75pt\">e prix est comptabilis\u00e9e en r\u00e9sultat ou</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps29702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps3285\" style=\"width:75.92pt\">en autres \u00e9l\u00e9ments </span><span class=\"f charStyle-165dec60 ps13241\" style=\"width:136.33pt\">du r\u00e9sultat global, selon les normes</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:46.07pt\">applicables\u00a0;</span></div><div class=\"ps5351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">la diff\u00e9rence entre la contrepartie transf\u00e9r\u00e9e et la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2278 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">valeur des actifs identifiables acquis et des passifs</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps2279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:36.4pt\">assum\u00e9s </span><span class=\"f charStyle-165dec60 ps2159\" style=\"width:175.88pt\">\u00e0 la date de prise de contr\u00f4le repr\u00e9sente le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29704\" style=\"width:180.06pt\">, comptabilis\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:38.99pt\">financi\u00e8re.</span></div><div class=\"ps5356 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les ajustements de la juste valeur des actifs identifiables</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">acquis et des passifs repris enregistr\u00e9s sur une base</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:34.95pt\">provisoire</span><span class=\"f charStyle-165dec60 ps29705\" style=\"width:183.04pt\"> (en raison de travaux d\u2019expertise en cours ou</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.55pt\">d\u2019analyses c</span><span class=\"f charStyle-81f42323 ps29706\" style=\"width:170.42pt\">ompl\u00e9mentaires) sont comptabilis\u00e9s comme</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps2287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:69.18pt\">des ajustements</span><span class=\"f charStyle-165dec60 ps5626\" style=\"width:91.99pt\"> r\u00e9trospectifs du </span><span class=\"f charStyle-e8054d08 ps29707\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29708\" style=\"width:24.55pt\"> s\u2019ils</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">interviennent dans la p\u00e9riode d\u2019un an \u00e0 compter de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">date d\u2019acquisition et s\u2019ils r\u00e9sultent de faits et</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">circonstances existant \u00e0 la date d\u2019acquisition. Au\u2011del\u00e0 de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2291 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.86pt\">ce d\u00e9lai, les effets sont constat\u00e9s </span><span class=\"f charStyle-42e3db84 ps29709\" style=\"width:89.11pt\">directement en r\u00e9sultat,</span><span class=\"f charStyle-42e3db84 ps418\" style=\"width:1.82pt\"> </span></div><div class=\"ps29710 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:143.87pt\">comme tout changement d\u2019estimation.</span></div><div class=\"ps2294 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Des actifs incorporels peuvent \u00eatre reconnus au titre des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2295 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:217.93pt\">relations clients qui correspondent en substance \u00e0 des</span><span class=\"f charStyle-c709af45 ps415\" style=\"width:1.87pt\"> </span></div><div class=\"ps2296 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:30.43pt\">contrats</span><span class=\"f charStyle-165dec60 ps29711\" style=\"width:187.48pt\"> en cours d\u2019ex\u00e9cution \u00e0 la date de la prise de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps2298 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">contr\u00f4le et/ou des relations avec des clients r\u00e9guliers de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9 acquise (opportunit\u00e9 de conclusion de nouveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">contrats). Ces actifs incorporels sont \u00e9valu\u00e9s sur la base</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">de la m\u00e9thode dite du \u00ab\u00a0surprofit \u00bb consistant \u00e0 consid\u00e9rer</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">que la valeur de l\u2019actif incorporel \u00e9valu\u00e9 correspond \u00e0 la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:197.24pt\">valeur actualis\u00e9e des flux g\u00e9n\u00e9r\u00e9s par cet actif, </span><span class=\"f charStyle-165dec60 ps29712\" style=\"width:20.69pt\">apr\u00e8s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9duction d\u2019une charge capitalistique permettant de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">r\u00e9mun\u00e9rer les autres actifs mis en \u0153uvre. Des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">incorporels peuvent \u00eatre \u00e9galement reconnus au titre des</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">technologies (brevet\u00e9es ou non) et des marques.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">L\u2019\u00e9valuation de ces derniers s\u2019op\u00e8re soit sur la base de la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2319 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">m\u00e9thode dite des \u00ab\u00a0redevances\u00a0\u00bb soit sur la base de la</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.07pt\">m\u00e9thode dite du \u00ab\u00a0co\u00fbt de remplacement\u00a0\u00bb.</span></div><div class=\"ps19908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Pour chaque prise de contr\u00f4le impliquant une prise de</span><span class=\"f charStyle-b5684510 ps608\" style=\"width:1.8pt\"> </span></div><div class=\"ps2322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.92pt\">participation inf\u00e9rieure \u00e0 100\u00a0%, la fraction d\u2019int\u00e9r\u00eat non</span><span class=\"f charStyle-b5684510 ps410\" style=\"width:1.8pt\"> </span></div><div class=\"ps2323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:34.2pt\">acquise (</span><span class=\"f charStyle-165dec60 ps29713\" style=\"width:183.79pt\">participations ne donnant pas le contr\u00f4le) est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.67pt\">\u00e9valu\u00e9e\u00a0:</span></div><div class=\"ps8150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:165.85pt\">soit \u00e0 sa juste valeur : dans ce cas, un </span><span class=\"f charStyle-7e8471c2 ps29714\" style=\"width:30.55pt\">goodwill</span><span class=\"f charStyle-73c14ed6 ps29715\" style=\"width:15.85pt\"> est</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps8151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:46.19pt\">comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps29716\" style=\"width:166.08pt\"> pour la part relative aux participations ne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:180.04pt\">donnant pas le contr\u00f4le (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29717\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:37.54pt\">complet)\u00a0;</span></div><div class=\"ps29718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.3pt\">soit \u00e0 sa quote-part d\u2019actif net identifiable de l\u2019entit\u00e9</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps29722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:31.28pt\">acquise\u00a0:</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:80.32pt\"> dans ce cas, seul un </span><span class=\"f charStyle-e8054d08 ps29720\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29721\" style=\"width:68.41pt\"> au titre de la part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:146.18pt\">acquise est comptabilis\u00e9 (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29723\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29724\" style=\"width:30.1pt\"> partiel).</span></div><div class=\"ps29726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les co\u00fbts directement attribuables \u00e0 l\u2019acquisition sont</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">comptabilis\u00e9s sur la ligne \u00ab\u00a0Autres produits et charges\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.02pt\">sur la p\u00e9riode au cours de laquelle ils sont encourus.</span></div><div class=\"ps29729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les ajustements ou compl\u00e9ments de prix \u00e9ventuels du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">regroupement d\u2019entreprises sont valoris\u00e9s \u00e0 la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">valeur \u00e0 la date de l\u2019acquisition m\u00eame si leur r\u00e9alisation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">n\u2019est pas consid\u00e9r\u00e9e comme probable. Apr\u00e8s la date</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29734 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.08pt\">d\u2019acquisition, les c</span><span class=\"f charStyle-81f42323 ps29733\" style=\"width:143.91pt\">hangements d\u2019estimation de la juste</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps29737 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:86.28pt\">valeur des ajustements</span><span class=\"f charStyle-165dec60 ps29735\" style=\"width:3.46pt\"> </span><span class=\"f charStyle-367d076b ps29736\" style=\"width:128.2pt\">de prix entra\u00eenent un ajustement</span><span class=\"f charStyle-367d076b ps610\" style=\"width:1.88pt\"> </span></div><div class=\"ps29740 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:13.28pt\">du </span><span class=\"f charStyle-495ee8f6 ps29738\" style=\"width:31.59pt\">goodwill</span><span class=\"f charStyle-367d076b ps21471\" style=\"width:69.05pt\"> uniquement s\u2019ils </span><span class=\"f charStyle-165dec60 ps29739\" style=\"width:104.05pt\">interviennent dans le d\u00e9lai</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019affectation (un an maximum \u00e0 compter de la date</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019acquisition) et s\u2019ils r\u00e9sultent de faits et circonstances</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">existant \u00e0 la date d\u2019acquisition. Dans tous les autres cas, le</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">changement est constat\u00e9 en r\u00e9sultat ou parmi les autres</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">\u00e9l\u00e9ments du r\u00e9sultat global selon la norme IFRS</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.02pt\">appropri\u00e9e.</span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Dans un regroupement d\u2019entreprises r\u00e9alis\u00e9 par \u00e9tapes, la</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">participation que le Groupe d\u00e9tenait pr\u00e9c\u00e9demment</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">dans l\u2019entreprise acquise est r\u00e9\u00e9valu\u00e9e, au moment de la</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">prise de contr\u00f4le de cette entreprise, \u00e0 la juste valeur par</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.76pt\">le compte de r\u00e9sultat. Pour la d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps29742\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e0 la date d\u2019obtention du contr\u00f4le, la juste valeur de la</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">contrepartie transf\u00e9r\u00e9e (par exemple le prix pay\u00e9) est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">augment\u00e9e de la juste valeur de la participation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.35pt\">pr\u00e9c\u00e9demment d\u00e9tenue par </span><span class=\"f charStyle-81f42323 ps29743\" style=\"width:102.63pt\">le Groupe. Le montant des</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:151.5pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps29744\" style=\"width:9.1pt\"> </span><span class=\"f charStyle-81f42323 ps20435\" style=\"width:57.35pt\">pr\u00e9c\u00e9demment</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:183.13pt\">comptabilis\u00e9 au titre de la participation d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps29745\" style=\"width:34.84pt\"> avant la</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2965 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.7pt\">prise de contr\u00f4le est recycl\u00e9 en compte de r\u00e9sultat.</span></div><div class=\"ps29747 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29649\">3.1.4<span id=\"i7aa1759cf25445c39c0784c90ca3c210\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29746\"><span style=\"display:inline-block;height:8.71pt;width:14.28pt\"></span></span><span class=\"ps29651\">Transactions concernant </span></span></div><div class=\"ps29749 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">les\u00a0</span><span class=\"f charStyle-0f5edfbc ps29748\">participations ne donnant </span></div><div class=\"ps29750 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-0f5edfbc ps29651\">pas\u00a0le\u00a0contr\u00f4le</span></div><div class=\"ps29751 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.6pt\">En l\u2019absence de</span><span class=\"f charStyle-165dec60 ps21274\" style=\"width:158.33pt\"> changement de contr\u00f4le, la variation des</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29752 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">transactions concernant les participations ne donnant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.76pt\">pas le </span><span class=\"f charStyle-53279637 ps29753\" style=\"width:188.19pt\">contr\u00f4le est comptabilis\u00e9e en capitaux propres.</span><span class=\"f charStyle-53279637 ps16281\" style=\"width:1.85pt\"> </span></div><div class=\"ps29756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:45.8pt\">Notamment</span><span class=\"f charStyle-165dec60 ps29755\" style=\"width:172.18pt\">, lors d\u2019une acquisition compl\u00e9mentaire de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:66.83pt\">titres d\u2019une entit\u00e9</span><span class=\"f charStyle-bd9dab06 ps29757\" style=\"width:151.1pt\"> d\u00e9j\u00e0 contr\u00f4l\u00e9e par le Groupe, l\u2019\u00e9cart entre</span><span class=\"f charStyle-bd9dab06 ps16299\" style=\"width:1.81pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:217.99pt\">le prix d\u2019acquisition des titres et la quote-part</span><span class=\"f charStyle-bd9dab06 ps16296\" style=\"width:1.81pt\"> </span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:140.89pt\">compl\u00e9mentaire des capitaux propre</span><span class=\"f charStyle-165dec60 ps29758\" style=\"width:7.68pt\">s </span><span class=\"f charStyle-81f42323 ps29759\" style=\"width:69.38pt\">consolid\u00e9s acquise</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:204.52pt\">est enregistr\u00e9 en capitaux propres attribuable </span><span class=\"f charStyle-165dec60 ps29760\" style=\"width:13.46pt\">aux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:198.61pt\">actionnaires de la Soci\u00e9t\u00e9. La valeur consolid\u00e9e des </span><span class=\"f charStyle-81993cb5 ps29761\" style=\"width:19.35pt\">actifs</span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps29766 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:101.16pt\">et passifs identifiables de </span><span class=\"f charStyle-81993cb5 ps29763\" style=\"width:82.91pt\">l\u2019entit\u00e9 (y compris le </span><span class=\"f charStyle-55d48e21 ps29764\" style=\"width:31.51pt\">goodwill</span><span class=\"f charStyle-81993cb5 ps29765\" style=\"width:2.37pt\">)</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29768 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.77pt\">reste inchang\u00e9e</span><span class=\"f charStyle-165dec60 ps29767\" style=\"width:1.59pt\">.</span></div><div class=\"ps29770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29649\">3.1.5<span id=\"i549ab7eb1ff24deaa9bd477aadbfe6b0\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29769\"><span style=\"display:inline-block;height:8.71pt;width:15.13pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29651\">Actifs et passifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s </span></div><div class=\"ps29771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">et\u00a0activit\u00e9s abandonn\u00e9es</span></div><div class=\"ps6299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque le Groupe s\u2019attend \u00e0 recouvrer la valeur d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">ou d\u2019un groupe d\u2019actifs, par sa vente plut\u00f4t que par son</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">utilisation, cet actif est pr\u00e9sent\u00e9 distinctement sur la ligne</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00ab\u00a0Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">financi\u00e8re. Les passifs relatifs \u00e0 cet actif sont \u00e9galement</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">pr\u00e9sent\u00e9s, le cas \u00e9ch\u00e9ant, sur la ligne \u00ab\u00a0Passifs destin\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation financi\u00e8re. Un actif</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps6306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">class\u00e9 comme tel est \u00e9valu\u00e9 au montant le plus faible de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps6307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur comptable et de son prix de vente estim\u00e9,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">diminu\u00e9 des frais li\u00e9s \u00e0 la vente. Il ne fait en cons\u00e9quence</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps6309 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:120.6pt\">plus l\u2019objet d\u2019un amortissement.</span></div><div class=\"ps13412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Une activit\u00e9 abandonn\u00e9e repr\u00e9sente, selon la norme</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">IFRS\u00a05 une composante dont le Groupe s\u2019est s\u00e9par\u00e9 ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps22015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:204.37pt\">qui est class\u00e9e comme d\u00e9tenue en vue de la vente, et\u00a0:</span></div><div class=\"ps4793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:212.29pt\">qui repr\u00e9sente une ligne d\u2019activit\u00e9 ou une r\u00e9gion</span><span class=\"f charStyle-dd2d44ff ps16295\" style=\"width:1.75pt\"> </span></div><div class=\"ps4794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:51.2pt\">g\u00e9ographique</span><span class=\"f charStyle-165dec60 ps29773\" style=\"width:87.09pt\"> principale et distincte\u00a0;</span></div><div class=\"ps4796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:212.3pt\">faisant partie d\u2019un plan unique et coordonn\u00e9 pour se</span><span class=\"f charStyle-bd9dab06 ps29668\" style=\"width:1.81pt\"> </span></div><div class=\"ps4797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:41.26pt\">s\u00e9parer d</span><span class=\"f charStyle-165dec60 ps29774\" style=\"width:171.02pt\">\u2019une ligne d\u2019activit\u00e9 ou d\u2019une r\u00e9gion</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:140.81pt\">g\u00e9ographique principale et distincte\u00a0;</span></div><div class=\"ps12145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3c2b601a ps448\" style=\"width:2.62pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps26704\" style=\"width:211.3pt\">ou une filiale acquise exclusivement en vue de la revente.</span></div><div class=\"ps12518 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">La classification comme activit\u00e9 abandonn\u00e9e intervient</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps12520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">au moment de la cession ou \u00e0 une date ant\u00e9rieure</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">lorsque l\u2019activit\u00e9 satisfait aux crit\u00e8res pour \u00eatre class\u00e9e</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comme d\u00e9tenue en vue de la vente. Le r\u00e9sultat ainsi que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">la plus ou moins-value de cession de ces activit\u00e9s sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps16963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">alors pr\u00e9sent\u00e9s, nets d\u2019imp\u00f4ts, sur une ligne distincte du</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">compte de r\u00e9sultat. Le m\u00eame traitement est appliqu\u00e9 de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">mani\u00e8re comparative au compte de r\u00e9sultat de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps12155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div><div class=\"ps4869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Dans le cas des actifs relatifs \u00e0 des activit\u00e9s qui n\u2019ont pas</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9t\u00e9 class\u00e9es en activit\u00e9s abandonn\u00e9es, les \u00e9ventuelles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">pertes de valeur et le r\u00e9sultat de cession de ces actifs sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:175.29pt\">inclus dans le r\u00e9sultat op\u00e9rationnel du Groupe.</span></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">3.2<span id=\"i34f07a0ce069470ebc341c3142fac340\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29778\"><span style=\"display:inline-block;height:10.16pt;width:27.37pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">\u00c9volution du p\u00e9rim\u00e8tre <span class=\"f ps53\"> </span></span></div><div class=\"ps29779 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps2788\">de\u00a0consolidation<span class=\"f ps53\"> </span></span></div><div class=\"ps29781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">3.2.1<span class=\"f ps53\"> </span><span id=\"i0818d2d6e7274c5cb3908af154b784ab\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29780\"><span style=\"display:inline-block;height:8.71pt;width:15.17pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Op\u00e9rations finalis\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps29782 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400\"><span class=\"ps275\">3.2.1.1<span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29285\">Cession de l'activit\u00e9 de capteurs </span><span id=\"ida82d820449044d1987460108c380862\"></span></span></div><div class=\"ps29783 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">automobiles pour syst\u00e8mes de propulsion</span></div><div class=\"ps29784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Le 30 avril 2025, Sinotec a sign\u00e9 une promesse d'achat de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:39.02pt\">l\u2019activit\u00e9 </span><span class=\"f charStyle-9206869b ps29785\" style=\"width:190.31pt\">de capteurs automobiles pour syst\u00e8mes de</span><span class=\"f charStyle-9206869b ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps29788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:75.71pt\">propulsion de Valeo</span><span class=\"f charStyle-165dec60 ps29787\" style=\"width:153.6pt\">. Le contrat de cession a \u00e9t\u00e9 sign\u00e9 le 10</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29789 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">juillet 2025 et la cl\u00f4ture de cette op\u00e9ration est intervenue le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27075 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:71.31pt\">30 novembre 2025.</span><span class=\"f charStyle-165dec60 ps26461\" style=\"width:1.96pt\"> </span></div><div class=\"ps26521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">La cession de cette activit\u00e9 a donn\u00e9 lieu \u00e0 la comptabilisation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps26522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">d\u2019une plus-value de cession de 4 millions d\u2019euros pr\u00e9sent\u00e9e</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps29792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:125.07pt\">en autres produits et charges (cf. </span><span class=\"f charStyle-165dec60 ps29790\" style=\"width:40.84pt\">Note\u00a05.6.2.1</span><span class=\"f charStyle-165dec60 ps29791\" style=\"width:43.58pt\">, page 404).</span></div><div class=\"ps17493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:229.27pt\">Les actifs et passifs de l\u2019activit\u00e9 de capteurs automobiles</span><span class=\"f charStyle-9206869b ps415\" style=\"width:1.9pt\"> </span></div><div class=\"ps17495 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:229.33pt\">permettant les mesures de temp\u00e9rature, de pression et de</span><span class=\"f charStyle-9206869b ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps17496 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:187.29pt\">position de tous types de syst\u00e8mes de propulsion </span><span class=\"f charStyle-165dec60 ps29793\" style=\"width:42.01pt\">avaient \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps6360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">class\u00e9s en actifs et passifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s dans l'\u00e9tat de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:32.99pt\">situation</span><span class=\"f charStyle-d77d7991 ps20392\" style=\"width:44.64pt\"> financi\u00e8re </span><span class=\"f charStyle-165dec60 ps29794\" style=\"width:151.64pt\">consolid\u00e9e au 31 d\u00e9cembre 2024 pour</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps6362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:217.99pt\">respectivement 100 millions d'euros et 47 millions d'euros.</span><span class=\"f charStyle-165dec60 ps29795\" style=\"width:1.96pt\"> </span></div><div class=\"ps15787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">La contribution de cette activit\u00e9 au chiffre d'affaires du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Groupe s\u2019est \u00e9lev\u00e9e \u00e0 133 millions d'euros en 2025 (11 mois<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15789 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.22pt\">d'activit\u00e9) </span><span class=\"f charStyle-49b068b5 ps29796\" style=\"width:189.09pt\">contre 128 millions d'euros sur l'exercice 2024 (12</span><span class=\"f charStyle-49b068b5 ps418\" style=\"width:1.86pt\"> </span></div><div class=\"ps6368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:56.55pt\">mois d'activit\u00e9).</span><span class=\"f charStyle-49b068b5 ps29797\" style=\"width:1.86pt\"> </span></div><div class=\"ps29798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400\"><span class=\"ps275\">3.2.1.2<span style=\"display:inline-block;height:8.22pt;width:8.98pt\"></span></span><span class=\"ps29285\">Cession de la filiale gestigon GmbH</span><span id=\"i3515402b493e44f88ad33b633d6b04f5\"></span></span></div><div class=\"ps29799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">En octobre 2025, Valeo a c\u00e9d\u00e9 \u00e0 Majelan X sa filiale gestigon</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">sp\u00e9cialis\u00e9e dans les logiciels de traitement d\u2019images en 3D</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps29801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">de l\u2019habitacle. Le r\u00e9sultat de cette op\u00e9ration est pr\u00e9sent\u00e9 en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:113.51pt\">autres produits et charges (cf. </span><span class=\"f charStyle-165dec60 ps29802\" style=\"width:40.84pt\">Note\u00a05.6.2.1</span><span class=\"f charStyle-165dec60 ps29803\" style=\"width:43.58pt\">, page 404).</span><span class=\"f charStyle-165dec60 ps29804\" style=\"width:1.96pt\"> </span></div><div class=\"ps29806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">La contribution de cette activit\u00e9 au chiffre d'affaires du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:167.51pt\">Groupe en 2024 et 2025 est non significative.</span><span class=\"f charStyle-165dec60 ps29807\" style=\"width:1.96pt\"> </span></div><div class=\"ps29809 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400\"><span class=\"ps275\">3.2.1.3<span style=\"display:inline-block;height:8.22pt;width:8.96pt\"></span></span><span class=\"ps29285\">Cession de l\u2019activit\u00e9 pi\u00e8ces d\u00e9cor\u00e9es </span><span id=\"i9fc0530dfb834537a4733427c83ec451\"></span></span></div><div class=\"ps29810 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">en\u00a0Malaisie</span></div><div class=\"ps4774 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.23pt\">Le 24 d\u00e9cembre 2025, le Groupe a sign\u00e9 un contrat avec la</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps4775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">soci\u00e9t\u00e9 Nationgate System SDN BHD pour lui c\u00e9der sa filiale</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">en Malaisie sp\u00e9cialis\u00e9e dans la production de pi\u00e8ces</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4777 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">d\u00e9cor\u00e9es fabriqu\u00e9es par injection plastique et assemblage</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4778 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">de modules \u00e9lectroniques. Le r\u00e9sultat de cette op\u00e9ration est</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:164.6pt\">pr\u00e9sent\u00e9 en autres produits et charges (cf. </span><span class=\"f charStyle-165dec60 ps12515\" style=\"width:41.43pt\">Note\u00a05.6.2.1</span><span class=\"f charStyle-165dec60 ps29811\" style=\"width:23.3pt\">, page</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">404).</span></div><div class=\"ps29812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">En 2025 comme en 2024, la contribution de cette activit\u00e9 au</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps12136 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:219.8pt\">chiffre d'affaires du Groupe s\u2019est \u00e9lev\u00e9e \u00e0 2 millions d'euros</span><span class=\"f charStyle-49b068b5 ps29813\" style=\"width:1.49pt\">.</span><span class=\"f charStyle-165dec60 ps29814\" style=\"width:1.96pt\"> </span></div><div class=\"ps29815 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400\"><span class=\"ps275\">3.2.1.4<span style=\"display:inline-block;height:8.22pt;width:8.14pt\"></span></span><span class=\"ps29285\">Cession de la participation minoritaire dans </span><span id=\"i51e39b0177ac498894ba8a4052e8b0f7\"></span></span></div><div class=\"ps29816 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">la coentreprise Faw-Valeo Climate Control </span></div><div class=\"ps29817 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">Systems</span></div><div class=\"ps15812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Le 4 juillet 2025, Valeo a sign\u00e9 un protocole d'accord</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">concernant la cession de sa participation minoritaire de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps15814 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.49pt\">36,5\u00a0%</span><span class=\"f charStyle-165dec60 ps29818\" style=\"width:202.81pt\"> dans la coentreprise Faw-Valeo Climate Control</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29819 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Systems Co. Ltd, op\u00e9rant en Chine. La cession est intervenue</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps29820 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:71.73pt\">en novembre 2025.</span></div><div class=\"ps19551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Le prix de cession pr\u00e9vu par ce protocole d'accord avait</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19552 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">conduit le Groupe \u00e0 d\u00e9pr\u00e9cier la valeur des titres mis en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">\u00e9quivalence de la soci\u00e9t\u00e9 dans ses \u00e9tats financiers consolid\u00e9s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps18251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">au 30 juin 2025. Cette perte de valeur est pr\u00e9sent\u00e9e dans les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps18252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">r\u00e9sultats des entreprises mises en \u00e9quivalence (cf Note 5.5.3,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:178.39pt\">pages 401 \u00e0 403) au sein du compte de r\u00e9sultat.</span><span class=\"f charStyle-165dec60 ps29821\" style=\"width:1.96pt\"> </span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps448\">3.2.2<span id=\"iea13f312d0ab49c0b860671869f34389\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29823\"><span style=\"display:inline-block;height:8.71pt;width:13.38pt\"></span></span><span class=\"ps17462\">Op\u00e9ration non encore finalis\u00e9e</span></span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Valeo a entam\u00e9 des n\u00e9gociations visant \u00e0 transf\u00e9rer ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s d'\u00e9clairage en Inde dans une coentreprise d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">par Ichikoh et Tata AutoComp Systems. La mise en \u0153uvre de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">cette op\u00e9ration conduirait \u00e0 un changement de m\u00e9thode de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:203.29pt\">consolidation des actifs et des passifs de cette activit\u00e9.</span></div><div class=\"ps29824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Conform\u00e9ment aux crit\u00e8res d'IFRS 5, les actifs et passifs</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29825 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">rattach\u00e9s \u00e0 cette activit\u00e9 figurent en actifs et passifs destin\u00e9s</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29459 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">\u00e0 \u00eatre c\u00e9d\u00e9s dans l'\u00e9tat de la situation financi\u00e8re consolid\u00e9e</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.17pt\">au 31 d\u00e9cembre 2025.</span><span class=\"f charStyle-165dec60 ps29826\" style=\"width:140.1pt\"> \u00c0 cette date, les actifs et passifs</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s s'\u00e9l\u00e8vent respectivement \u00e0 22 millions</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">d'euros et 16 millions d'euros. Sur la base des informations</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">disponibles \u00e0 la cl\u00f4ture, Valeo n'a pas identifi\u00e9 de perte de</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:24.65pt\">valeur.</span></div><div class=\"ps4022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">La contribution de ces activit\u00e9s au chiffre d\u2019affaires du</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.14pt\">Groupe </span><span class=\"f charStyle-81f42323 ps29827\" style=\"width:199.1pt\">s'\u00e9l\u00e8ve \u00e0 35 millions d\u2019euros sur l'exercice 2025 contre 32</span><span class=\"f charStyle-81f42323 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:27.98pt\">millions</span><span class=\"f charStyle-165dec60 ps2539\" style=\"width:101.62pt\"> d'euros sur l'exercice 2024.</span></div><div class=\"ps29828 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">3.3<span id=\"ia6211bf71734423093dc5a2af7ded8bc\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps8947\"><span style=\"display:inline-block;height:10.16pt;width:27.35pt\"></span></span></span><span class=\"f charStyle-25177d68 ps29267\">Engagements hors bilan li\u00e9s <span class=\"f ps53\"> </span></span></div><div class=\"ps29829 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">au\u00a0p\u00e9rim\u00e8tre de consolidation<span class=\"f ps53\"> </span></span></div><div class=\"ps29831 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps448\">3.3.1<span class=\"f ps53\"> </span><span id=\"i3e484f1c0f6f4db69c724368603a599d\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29830\"><span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps17462\">Engagements donn\u00e9s</span></span></div><div class=\"ps29832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">Valeo et V. Johnson Enterprises ont form\u00e9 la soci\u00e9t\u00e9 Detroit<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:30.02pt\">Thermal</span><span class=\"f charStyle-165dec60 ps29833\" style=\"width:89.52pt\"> Systems en 2012. Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29834\" style=\"width:71.64pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29835\" style=\"width:38.15pt\">, Valeo et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29837 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">V.\u00a0Johnson Enterprises en sont actionnaires respectivement</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29838 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:95.92pt\">\u00e0 hauteur de 49\u00a0% et 51\u00a0%.</span></div><div class=\"ps14968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">V. Johnson Enterprises dispose d\u2019une option de vente dont</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14969 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l'exercice est conditionn\u00e9 \u00e0 la survenance d'\u00e9v\u00e9nements</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps14970 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">pr\u00e9cis\u00e9s contractuellement et qui ne sont pas li\u00e9s \u00e0 un</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps8023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">niveau de r\u00e9sultat. Cette option serait notamment exer\u00e7able<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">si Valeo ne pouvait contribuer au financement de la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps8026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">ou encore en cas de cession de tout ou partie de sa</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">participation \u00e0 un tiers. En cas d'exercice de l\u2019option, la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">totalit\u00e9 des titres d\u00e9tenus par V. Johnson Enterprises serait</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps14976 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">vendue \u00e0 Valeo et le prix serait d\u00e9termin\u00e9 selon les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">dispositions pr\u00e9vues dans l\u2019accord r\u00e9gissant la gouvernance</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps14978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:48.24pt\">de la soci\u00e9t\u00e9.</span></div><div class=\"ps29839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">Par ailleurs, dans le cadre des op\u00e9rations de cession r\u00e9alis\u00e9es en</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps14980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:16.98pt\">2025</span><span class=\"f charStyle-81f42323 ps29840\" style=\"width:212.3pt\"> et lors des exercices pr\u00e9c\u00e9dents, Valeo a accord\u00e9 diverses</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps14982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">garanties de passif usuelles pour ce type d\u2019op\u00e9rations. Au</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps17896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:64.88pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps29841\" style=\"width:164.42pt\">, le montant total de ces garanties s\u2019\u00e9l\u00e8ve \u00e0 92</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps17897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.25pt\">millions d'euros, dont 76 millions d'euros dans le cadre des</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps17898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.29pt\">cessions des activit\u00e9s Syst\u00e8mes thermiques v\u00e9hicules</span><span class=\"f charStyle-81f42323 ps467\" style=\"width:1.78pt\"> </span></div><div class=\"ps17899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">commerciaux en 2024 et capteurs automobiles pour syst\u00e8mes</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps17903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:93.01pt\">de propulsion en 2025 (cf. </span><span class=\"f charStyle-81f42323 ps29842\" style=\"width:36.8pt\">Note 3.2.1.1</span><span class=\"f charStyle-81f42323 ps29843\" style=\"width:38.18pt\">, page 392)</span></div><div class=\"ps29845 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps448\">3.3.2<span id=\"i6506c0d646e841bc92ba8040fad8d7ed\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29844\"><span style=\"display:inline-block;height:8.71pt;width:13.37pt\"></span></span><span class=\"ps17462\">Engagements re\u00e7us</span></span></div><div class=\"ps9239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:12.62pt\">Au </span><span class=\"f charStyle-81f42323 ps29846\" style=\"width:66.16pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps19035\" style=\"width:46.67pt\">, comme au </span><span class=\"f charStyle-81f42323 ps29847\" style=\"width:66.87pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-81f42323 ps29848\" style=\"width:37pt\">, Valeo n'a</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps6830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:207.15pt\">pas d'engagement re\u00e7u li\u00e9 au p\u00e9rim\u00e8tre de consolidation.<span class=\"f ps53\"> </span></span></div><div><div id=\"i2875f4fbc551449b952701acfd85d7df_1006\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i722fbe0fc23942288684937b5ee0cbf0\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">14<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35545\"><span style=\"display:inline-block;height:13.55pt;width:29.68pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Liste </span><span class=\"f charStyle-26f8f9e5 ps35546\">des soci\u00e9t\u00e9s consolid\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps35609 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">EUROPE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">FRANCE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (soci\u00e9t\u00e9 m\u00e8re)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">SC2N </span><span class=\"f charStyle-4da12822 ps35557\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Embrayages</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management\u00a0 (ex-Valeo Bayen) </span><span class=\"f charStyle-4da12822 ps35562\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services </span><span class=\"f charStyle-4da12822 ps35565\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Comfort and Driving Assistance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo \u00c9lectrification</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes d\u2019Essuyage<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes Thermiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power France </span><span class=\"f charStyle-4da12822 ps35580\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 22 <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo ExpertIn<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35587\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ESPAGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Termico, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ITALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Italia, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0</span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35612 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.</span></div><div class=\"ps35613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.</span></div><div class=\"ps35614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.</span></div><div class=\"ps4730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.</span></div><div class=\"ps4731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.</span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">ALLEMAGNE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Auto-Electric GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35616\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35618\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Holding GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35621\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Klimasysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35622\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Schalter und Sensoren GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35623\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Service Deutschland GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35624\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Wischersysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35625\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Telematik und Akustik GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35626\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Germany GmbH </span><span class=\"f charStyle-4da12822 ps35627\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive BSAES Holding GmbH </span><span class=\"f charStyle-4da12822 ps35628\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE Verwaltungs GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35629\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Powertrain GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35630\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive systems GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35631\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive M\u00f6ve GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35632\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">gestigon GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35633\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems GmbH </span><span class=\"f charStyle-4da12822 ps35634\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROYAUME-UNI</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (UK) Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Climate Control Limited </span><span class=\"f charStyle-4da12822 ps35635\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services UK Limited </span><span class=\"f charStyle-4da12822 ps35639\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Air Management UK Limited </span><span class=\"f charStyle-4da12822 ps35640\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">IRLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Connaught Electronics Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">HI-KEY Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh Holding Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35652 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35655 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35657 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35659 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BELGIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">LUXEMBOURG</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Coreval<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">PAYS-BAS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sub-Holdings C.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Holding Netherlands B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo International Holding B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Lucia Technologies B.V. <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">R\u00c9PUBLIQUE TCH\u00c8QUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autoklimatizace k.s.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor Europe s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vymeniky Tepla s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Czechia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems s.r.o </span><span class=\"f charStyle-4da12822 ps35660\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">SLOVAQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Slovakia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">POLOGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autosystemy Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Electric and Electronic Systems Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Eastern Europe Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">HONGRIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto-Electric Hungary LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Hungary Kft.</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROUMANIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Injection SA<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sisteme Termice S.R.L.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps547 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">RUSSIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35661 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Technology Rus Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35662 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35663 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35664 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35665 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35666 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35667 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35668 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35669 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35670 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TURQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Otomotiv Sanayi ve Ticaret AS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AFRIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TUNISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Embrayages Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MAROC</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Maroc, S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9GYPTE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Internal Automotive Software Egypt<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Detection Systems LLC <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AFRIQUE DU SUD</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Systems South Africa (Proprietary) Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Thermal Systems East London (Pty) Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25656\">51<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU NORD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9TATS-UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Radar Systems, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35681 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps10484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">CANADA<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Canada, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MEXIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Delmex de Juarez, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotrices de M\u00e9xico, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electricos, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electronicos, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mexico Tech Center, SA de CV <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Telematica y Acustica, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE Mexicana, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BR\u00c9SIL</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotivos Ltda<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">ASIE PACIFIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">THA\u00cfLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Siam Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Comfort and Driving Assistance Systems (Thailand)\u00a0Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25973\">61<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps17125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35685 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35686 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35689 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">COR\u00c9E DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive Korea Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Electrical Systems Korea Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong Hwa Automotive Components Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Samsung Thermal Systems Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong HWA Metals Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Kapec Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems Korea Co. Ltd </span><span class=\"f charStyle-4da12822 ps35692\"><sup>(4)</sup></span><span class=\"f charStyle-044fe383 ps35693\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo PHC Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Korea Co. Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC High Voltage Systems Co., Ltd. </span><span class=\"f charStyle-4da12822 ps35694\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps35695\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDON\u00c9SIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT Valeo AC Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">PT VPH Asean Transmission</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT. Ichikoh Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MALAISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Malaysia SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh (Malaysia) SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Malaysia CDA SDN.BHD. </span><span class=\"f charStyle-4da12822 ps35697\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">EMIRATS ARABES UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Middle East Aftermarket FZE (ex-Valeo Thermal </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Commercial Vehicles Middle East FZE) </span><span class=\"f charStyle-4da12822 ps35698\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16748 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AUSTRALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16754 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Australia PTY Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35699 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35700 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35701 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35702 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35706 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35707 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35708 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35709 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">JAPON<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Kyushu Ichikoh Industries. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Japan Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Japan K,K<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">CHINE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Faw-Valeo Climate Control Systems Co. Ltd </span><span class=\"f charStyle-4da12822 ps35711\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35712\">36,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Ichikoh Valeo Auto Lighting Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Guangzhou Valeo Engine Cooling Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Huada Automotive Air Conditioner (Hunan) Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Nanjing Valeo Clutch Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Shanghai Valeo Automotive Electrical Systems Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Pyeong-Hwa Transmission Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Taizhou Valeo Wenling Automotive Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto Parts Trading (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive Air Conditioning Hubei Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Torque Converters (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling (Foshan) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor (Changchun) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh (China) Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shenzhen) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Hubei Technical Center Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Management (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-0e45555a ps10\">Valeo Comfort Driving Assistance Systems (Guangzhou) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35716 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35717 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35719 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35720 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Shanghai Automotive Electric Motors &amp; Wiper </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Systems\u00a0Co.\u00a0Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35721 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps757 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps25232 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Wuxi Valeo Automotive Components and System Co., Ltd </span><span class=\"f charStyle-4da12822 ps35722\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35723 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16370 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25920 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25921 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Changshu Valeo Automotive Wiper System Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35724 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35725 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11132 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Pyeong Hwa International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35726 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35727 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25923 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25786 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Shenzhen) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35728 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35729 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25926 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25793 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive ePowertrain Systems (Shanghai) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35730 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35731 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25929 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3474 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Bluepark Automotive E-Drive Systems (Changzhou) Co. <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ltd. </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35732 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35734 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25932 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25934 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps792 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Valeo Electronic Auto Parts Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35735 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35736 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35737 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35738 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps793 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Powertrain (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35739 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35740 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps800 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35741 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps803 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo ePowertrain (Tianjin) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35742 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35743 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35744 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25820 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps804 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Changshu) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35745 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35746 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps812 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25826 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25441 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Fawer Valeo eAutomotive Parts Changshu <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35747 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35748 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35749 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25449 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10569 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power Technology (Nanjing) Co., Ltd (ex-FTE automotive </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">(Taicang) Co. Ltd)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35750 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35751 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35752 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25456 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3877 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Zhihui Valeo (Zhejiang) Auto Parts Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35753 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35754 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35755 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25464 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28407 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Systems (Shanghai\uff09Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35756 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35757 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35758 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35759 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28413 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems (Shenzhen) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35760 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35761 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35762 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35763 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3907 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Special Products eAutomotive Lighting (Changshu) Co., </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35764 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35765 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35766 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35767 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10608 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35768 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Amalgamations Valeo Clutch Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35770 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35771 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35772 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35773 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials India Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35774 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35775 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35776 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35777 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps542 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo India Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35778 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35780 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35781 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35782 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35785 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div>entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-427": {
   "value": "<div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">3.1<span id=\"ie960286081af4e2ab14862c9640d23a6\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29592\"><span style=\"display:inline-block;height:10.16pt;width:29.45pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Principes comptables li\u00e9s au p\u00e9rim\u00e8tre de consolidation<span class=\"f ps53\"> </span></span></div><div class=\"ps29599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29596\">3.1.1<span class=\"f ps53\"> </span><span id=\"i78cbcd0516c1498388e1b39fba5dbc07\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29597\"><span style=\"display:inline-block;height:8.71pt;width:16.96pt\"></span></span><span class=\"ps29598\">Principes de consolidation</span></span></div><div class=\"ps29601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.1<span class=\"f ps53\"> </span><span id=\"ibdc9bbe6a2ae4657a0b4a3f6e5da263b\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29600\"><span style=\"display:inline-block;height:8.22pt;width:12.34pt\"></span></span><span class=\"ps29598\">Int\u00e9gration globale</span></span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.92pt\">La m\u00e9thode de l\u2019int\u00e9gration globale est appliqu\u00e9e pour la</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">consolidation des \u00e9tats financiers des soci\u00e9t\u00e9s dans</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">lesquelles Valeo exerce directement ou indirectement le</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:213.61pt\">contr\u00f4le. Le contr\u00f4le d\u2019une soci\u00e9t\u00e9 existe lorsque le Groupe\u00a0:</span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:120.6pt\">d\u00e9tient le pouvoir sur la soci\u00e9t\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">est expos\u00e9 ou a droit \u00e0 des rendements variables en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:127.26pt\">raison de ses liens avec la soci\u00e9t\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">a la capacit\u00e9 d\u2019exercer son pouvoir sur les activit\u00e9s</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps29602 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">jug\u00e9es pertinentes de la soci\u00e9t\u00e9 de mani\u00e8re \u00e0 influer sur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29603 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.15pt\">le montant des rendements qu\u2019il obtient.</span></div><div class=\"ps29604 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Toutes les transactions entre les filiales consolid\u00e9es sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29605 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">\u00e9limin\u00e9es, de m\u00eame que les r\u00e9sultats internes au Groupe</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.52pt\">(plus-values, profits sur stocks, dividendes).</span></div><div class=\"ps29606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les r\u00e9sultats des filiales acquises sont consolid\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29607 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:192.76pt\">compter de la date \u00e0 laquelle le contr\u00f4le est exerc\u00e9.</span></div><div class=\"ps29609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.2<span id=\"iafe3fcdee4f24ee7be3c5728d91001c9\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29608\"><span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29598\">Mise en \u00e9quivalence des\u00a0coentreprises </span></span></div><div class=\"ps29611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29610\">et\u00a0des entreprises associ\u00e9es</span></div><div class=\"ps13611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.99pt\">Des contrats de partenariat organisent le contr\u00f4le d\u2019une</span><span class=\"f charStyle-b2f078f6 ps412\" style=\"width:1.83pt\"> </span></div><div class=\"ps13613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:28.49pt\">soci\u00e9t\u00e9 </span><span class=\"f charStyle-81993cb5 ps29612\" style=\"width:189.47pt\">et pr\u00e9voient un contr\u00f4le conjoint d\u2019au moins deux</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps13614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:43.27pt\">partenaires.</span><span class=\"f charStyle-165dec60 ps29613\" style=\"width:2.45pt\"> </span><span class=\"f charStyle-9c680f66 ps29614\" style=\"width:172.26pt\">Un partenariat dans lequel les parties ont des</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:63.34pt\">droits sur l\u2019actif</span><span class=\"f charStyle-165dec60 ps29615\" style=\"width:154.64pt\"> net est appel\u00e9 \u00ab\u00a0coentreprise\u00a0\u00bb. Un</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">partenariat dans lequel les parties ont des droits sur les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:105.91pt\">actifs, et des obligations au </span><span class=\"f charStyle-c8069515 ps29616\" style=\"width:112.07pt\">titre des passifs du partenariat</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:114.05pt\">est appel\u00e9 \u00ab\u00a0activit\u00e9 conjointe\u00a0\u00bb.</span></div><div class=\"ps13622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.96pt\">Valeo exerce \u00e9galement une influence notable dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps608\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:33.85pt\">certaines</span><span class=\"f charStyle-165dec60 ps29617\" style=\"width:184.11pt\"> soci\u00e9t\u00e9s, appel\u00e9es entreprises associ\u00e9es.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">L\u2019influence notable se caract\u00e9rise par le pouvoir de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">participer aux d\u00e9cisions relatives aux politiques</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">financi\u00e8res et op\u00e9rationnelles de la soci\u00e9t\u00e9, sans toutefois</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">contr\u00f4ler ou contr\u00f4ler conjointement ces politiques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">L\u2019influence notable est pr\u00e9sum\u00e9e lorsque plus de 20\u00a0%</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des droits de vote sont d\u00e9tenus. Ces coentreprises et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29620 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">entreprises associ\u00e9es sont comptabilis\u00e9es selon la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29621 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">m\u00e9thode de la mise en \u00e9quivalence. Cette m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">consiste \u00e0 enregistrer, \u00e0 la date \u00e0 laquelle la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">devient une entreprise associ\u00e9e ou une coentreprise, une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">participation dans les soci\u00e9t\u00e9s mises en \u00e9quivalence dans</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:156.96pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e.</span><span class=\"f charStyle-165dec60 ps29625\" style=\"width:1.96pt\"> </span></div><div class=\"ps11398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Cette participation est initialement comptabilis\u00e9e au co\u00fbt</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11400 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">d\u2019acquisition. Au cas sp\u00e9cifique d\u2019une perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps14146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.99pt\">d\u2019une filiale emportant la comptabilisation d\u2019une</span><span class=\"f charStyle-4afdd138 ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps14147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:47.32pt\">participation</span><span class=\"f charStyle-165dec60 ps29626\" style=\"width:170.67pt\"> dans une coentreprise ou dans une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">entreprise associ\u00e9e, le co\u00fbt initial de cette participation</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">est \u00e9gal \u00e0 sa juste valeur \u00e0 la date de la perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">conform\u00e9ment \u00e0 IFRS 10.25. Elle est ensuite ajust\u00e9e apr\u00e8s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19419 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">la date d\u2019acquisition de la quote-part du Groupe dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">r\u00e9sultat global non distribu\u00e9 de l\u2019entreprise d\u00e9tenue. Ces</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">r\u00e9sultats peuvent \u00eatre retrait\u00e9s pour une mise en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:174.79pt\">conformit\u00e9 avec les principes comptables </span><span class=\"f charStyle-7cdffd50 ps29627\" style=\"width:43.2pt\">du Groupe.</span><span class=\"f charStyle-7cdffd50 ps412\" style=\"width:1.77pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps6588\" style=\"width:15.06pt\">Le\u00a0</span><span class=\"f charStyle-d7795f5b ps29628\" style=\"width:30.71pt\">goodwill</span><span class=\"f charStyle-7cdffd50 ps29629\" style=\"width:172.19pt\"> se rapportant \u00e0 l\u2019acquisition d\u2019entreprises</span><span class=\"f charStyle-b2f078f6 ps608\" style=\"width:1.83pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">associ\u00e9es ou de coentreprises est inclus dans la ligne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.59pt\">\u00ab\u00a0Participations</span><span class=\"f charStyle-b2f078f6 ps29630\" style=\"width:149.11pt\"> dans les soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps19434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.99pt\">Les modalit\u00e9s d\u2019\u00e9valuation des participations dans les</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps29633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:32.27pt\">soci\u00e9t\u00e9s </span><span class=\"f charStyle-165dec60 ps29632\" style=\"width:185.7pt\">mises en \u00e9quivalence sont r\u00e9gies par les normes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">IFRS 9 \u00ab\u00a0Instruments financiers\u00a0: comptabilisation et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62.17pt\">\u00e9valuation \u00bb et </span><span class=\"f charStyle-9206869b ps12826\" style=\"width:155.78pt\">IAS 28 r\u00e9vis\u00e9e \u00ab\u00a0Participations dans des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:78.2pt\">entreprises associ\u00e9es</span><span class=\"f charStyle-165dec60 ps29636\" style=\"width:84.87pt\"> et des coentreprises\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps29637\" style=\"width:1.96pt\"> </span></div><div class=\"ps29639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les pertes de valeur susceptibles d\u2019\u00eatre comptabilis\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">sur les participations des soci\u00e9t\u00e9s mises en \u00e9quivalence,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">ainsi que le profit ou la perte li\u00e9s \u00e0 la r\u00e9\u00e9valuation \u00e0 sa</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">juste valeur de la quote-part ant\u00e9rieurement d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29643 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">(lors de la prise de contr\u00f4le d\u2019une soci\u00e9t\u00e9 mise en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00e9quivalence) sont enregistr\u00e9s sur la ligne \u00ab\u00a0Quote-part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:202.2pt\">dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps29647 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.19pt\">La liste des soci\u00e9t\u00e9s consolid\u00e9es est pr\u00e9sent\u00e9e en </span><span class=\"f charStyle-165dec60 ps29646\" style=\"width:28.2pt\">Note 14</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.42pt\">pages 450 \u00e0 457 .</span></div><div class=\"ps29599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29649\">3.1.2<span id=\"i578675c6034c4c82affc3dd05f53a2ad\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29650\"><span style=\"display:inline-block;height:8.71pt;width:15.17pt\"></span></span><span class=\"ps29651\">M\u00e9thodes de conversion</span></span></div><div class=\"ps29601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29652\">3.1.2.1<span id=\"i4d407a1cf8324c8e9304fa8ef97cd635\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29653\"><span style=\"display:inline-block;height:8.22pt;width:10.67pt\"></span></span><span class=\"ps29654\">Conversion des \u00e9tats financiers libell\u00e9s </span></span></div><div class=\"ps29655 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29651\">en\u00a0devises \u00e9trang\u00e8res</span></div><div class=\"ps16137 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:217.97pt\">Les comptes consolid\u00e9s du Groupe sont pr\u00e9sent\u00e9s en</span><span class=\"f charStyle-9c680f66 ps16278\" style=\"width:1.93pt\"> </span></div><div class=\"ps2111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:20.78pt\">euros</span><span class=\"f charStyle-165dec60 ps29656\" style=\"width:1.59pt\">.</span></div><div class=\"ps7096 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les \u00e9tats financiers de chacune des soci\u00e9t\u00e9s consolid\u00e9es</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps26551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">du\u00a0Groupe sont pr\u00e9par\u00e9s dans la monnaie fonctionnelle,</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-4afdd138 ps6329\" style=\"width:213.77pt\">\u2019est\u2011\u00e0\u2011dire dans la monnaie de l\u2019environnement</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:47.23pt\">\u00e9conomique</span><span class=\"f charStyle-165dec60 ps29657\" style=\"width:6.36pt\"> </span><span class=\"f charStyle-5064d44f ps29658\" style=\"width:164.38pt\">principal dans lequel elle op\u00e8re et qui</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:85.3pt\">correspond, en g\u00e9n\u00e9ral</span><span class=\"f charStyle-165dec60 ps29659\" style=\"width:77.51pt\">, \u00e0 la monnaie locale.</span><span class=\"f charStyle-165dec60 ps29660\" style=\"width:1.96pt\"> </span></div><div class=\"ps8378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les \u00e9tats financiers des soci\u00e9t\u00e9s dont la monnaie</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">fonctionnelle n\u2019est pas l\u2019euro sont convertis en euros<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:95.12pt\">comme indiqu\u00e9 ci\u2011apr\u00e8s\u00a0:</span></div><div class=\"ps8380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">les postes de l\u2019\u00e9tat de la situation financi\u00e8re sont</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps8381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">convertis en euros sur la base des cours de change\u00a0 en</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:154.4pt\">vigueur \u00e0 la date de cl\u00f4ture de l\u2019exercice\u00a0;</span></div><div class=\"ps16153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">les postes du compte de r\u00e9sultat sont convertis en euros</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16154 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">au cours de change aux dates de transaction ou en</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps16155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">pratique, au cours moyen de la p\u00e9riode tant que celui-ci</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">n\u2019est pas remis en cause par des \u00e9volutions significatives</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps29664 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:39.4pt\">des cours\u00a0;</span></div><div class=\"ps29665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">les gains et pertes latents r\u00e9sultant de la conversion des</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">\u00e9tats financiers des soci\u00e9t\u00e9s \u00e9trang\u00e8res sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29667 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">comptabilis\u00e9s dans les autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">global recyclables en r\u00e9sultat sur la ligne \u00ab\u00a0\u00c9carts de</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps29670 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:48.14pt\">conversion\u00a0\u00bb.</span></div><div class=\"ps4055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe applique les dispositions de la norme IAS 29</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4057 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00ab\u00a0Information financi\u00e8re dans les \u00e9conomies hyper-</span></div><div class=\"ps4059 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">inflationnistes\u00a0\u00bb aux soci\u00e9t\u00e9s dont la monnaie</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4060 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">fonctionnelle est consid\u00e9r\u00e9e comme \u00e9tant en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">hyperinflation. Les \u00e9tats financiers des soci\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">concern\u00e9es sont retrait\u00e9s des effets de l'inflation</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">(convention du co\u00fbt historique), ils sont ensuite convertis<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dans la monnaie de pr\u00e9sentation du Groupe au cours de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.13pt\">cl\u00f4ture.</span></div><div class=\"ps29676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29649\">3.1.2.2<span id=\"i046d55045fef469c86881459f310a5ab\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29675\"><span style=\"display:inline-block;height:8.22pt;width:8.98pt\"></span></span><span class=\"ps29651\">Transactions en devises \u00e9trang\u00e8res</span></span></div><div class=\"ps29677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Cas g\u00e9n\u00e9ral<span id=\"ieea20811e09e46a9837ca3c84a509e74\"></span></span></div><div class=\"ps29678 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les transactions r\u00e9alis\u00e9es par une soci\u00e9t\u00e9 dans une devise</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12562 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">autre que sa monnaie fonctionnelle sont converties au</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.77pt\">cours </span><span class=\"f charStyle-9c680f66 ps29679\" style=\"width:195.17pt\">de change en vigueur au moment de la transaction.</span><span class=\"f charStyle-9c680f66 ps16283\" style=\"width:1.93pt\"> </span></div><div class=\"ps8946 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:37.64pt\">Les actifs </span><span class=\"f charStyle-165dec60 ps29681\" style=\"width:180.31pt\">et passifs mon\u00e9taires exprim\u00e9s en devises sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">convertis au cours de cl\u00f4ture. Les actifs et passifs non</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">mon\u00e9taires libell\u00e9s en devises \u00e9trang\u00e8res sont</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">comptabilis\u00e9s au cours historique en vigueur \u00e0 la date de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2843 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.63pt\">la transaction.</span></div><div class=\"ps29682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les diff\u00e9rences de change r\u00e9sultant de la conversion des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">transactions en devises sont g\u00e9n\u00e9ralement incluses dans</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.88pt\">le compte de r\u00e9sultat.</span></div><div class=\"ps29685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Investissement net<span id=\"i0dcdf527617b4ab59dddeeaef5d7ba8b\"></span></span></div><div class=\"ps4802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.95pt\">Certains pr\u00eats et emprunts libell\u00e9s en devises \u00e9trang\u00e8res<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16281\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:16.23pt\">sont</span><span class=\"f charStyle-165dec60 ps29308\" style=\"width:201.73pt\"> consid\u00e9r\u00e9s, en substance, comme faisant partie</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">int\u00e9grante de l\u2019investissement net dans une filiale dont la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro, lorsque le</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps4809 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.12pt\">r\u00e8glement n\u2019est ni </span><span class=\"f charStyle-d96cb356 ps29686\" style=\"width:140.83pt\">planifi\u00e9, ni probable dans un avenir</span><span class=\"f charStyle-d96cb356 ps16281\" style=\"width:1.92pt\"> </span></div><div class=\"ps4810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps448\" style=\"width:95.29pt\">pr\u00e9visible. Les diff\u00e9rences</span><span class=\"f charStyle-165dec60 ps29687\" style=\"width:2.25pt\"> </span><span class=\"f charStyle-cea761f8 ps29688\" style=\"width:120.4pt\">de change relatives \u00e0 ces pr\u00eats et</span><span class=\"f charStyle-cea761f8 ps16283\" style=\"width:1.78pt\"> </span></div><div class=\"ps4811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:116.88pt\">emprunts sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps29689\" style=\"width:101.09pt\"> en autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global, dans les \u00e9carts de conversion, pour leur</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps4813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">montant net d\u2019imp\u00f4ts. Ce traitement sp\u00e9cifique</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4814 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">s\u2019applique jusqu\u2019\u00e0 la date de sortie d\u00e9finitive de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">l\u2019investissement net ou au moment o\u00f9 le remboursement</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">partiel ou total de ces emprunts ou dettes devient</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:39.17pt\">hautemen</span><span class=\"f charStyle-165dec60 ps29690\" style=\"width:40.49pt\">t probable.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps6588\" style=\"width:217.97pt\">\u00c0 compter de la date de d\u00e9qualification de l\u2019investissement</span><span class=\"f charStyle-858f3e4c ps418\" style=\"width:1.81pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps6588\" style=\"width:13.63pt\">net,</span><span class=\"f charStyle-165dec60 ps28153\" style=\"width:204.33pt\"> les \u00e9carts de conversion g\u00e9n\u00e9r\u00e9s post\u00e9rieurement \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">cette m\u00eame date sont comptabilis\u00e9s en autres produits</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">et charges financiers dans le compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:101.45pt\">consolid\u00e9. Les \u00e9carts </span><span class=\"f charStyle-bd02d35c ps29692\" style=\"width:116.54pt\">de conversion comptabilis\u00e9s</span><span class=\"f charStyle-bd02d35c ps412\" style=\"width:1.76pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:132.57pt\">ant\u00e9rieurement en autres \u00e9l\u00e9ments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps18407\" style=\"width:3.6pt\"> </span><span class=\"f charStyle-d96cb356 ps29564\" style=\"width:81.77pt\">du r\u00e9sultat global ne</span><span class=\"f charStyle-d96cb356 ps610\" style=\"width:1.92pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:153.5pt\">sont recycl\u00e9s en r\u00e9sultat qu\u2019\u00e0 la date de</span><span class=\"f charStyle-165dec60 ps29693\" style=\"width:64.44pt\"> cession partielle</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:158.55pt\">ou totale de la\u00a0filiale. Le Groupe examine </span><span class=\"f charStyle-81f42323 ps29694\" style=\"width:59.33pt\">au cas par cas si</span><span class=\"f charStyle-81f42323 ps4806\" style=\"width:1.78pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:184.23pt\">le remboursement partiel ou total de l\u2019emprunt <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29695\" style=\"width:33.69pt\">ou dette</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.84pt\">constitue une sortie partielle ou totale de la filiale.</span></div><div class=\"ps29697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29596\">3.1.3<span id=\"ic85d95ce497944f4848a519dd5289cf1\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29696\"><span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps29598\">Regroupements d\u2019entreprises</span></span></div><div class=\"ps29698 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les regroupements d\u2019entreprises sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:127.16pt\">selon la m\u00e9thode de l\u2019acquisition\u00a0:</span></div><div class=\"ps26928 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">le co\u00fbt d\u2019une acquisition est \u00e9valu\u00e9 \u00e0 la juste valeur de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">contrepartie transf\u00e9r\u00e9e, y compris tout ajustement de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:20.34pt\">prix, </span><span class=\"f charStyle-81f42323 ps29700\" style=\"width:191.92pt\">\u00e0 la date de prise de contr\u00f4le. \u00c0 l\u2019issue du d\u00e9lai</span><span class=\"f charStyle-81f42323 ps8474\" style=\"width:1.78pt\"> </span></div><div class=\"ps26930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:44.86pt\">d\u2019affectation</span><span class=\"f charStyle-165dec60 ps5464\" style=\"width:167.41pt\">, toute variation ult\u00e9rieure de juste valeur</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:69.57pt\">d\u2019un ajustement d</span><span class=\"f charStyle-d96cb356 ps29701\" style=\"width:142.75pt\">e prix est comptabilis\u00e9e en r\u00e9sultat ou</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps29702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps3285\" style=\"width:75.92pt\">en autres \u00e9l\u00e9ments </span><span class=\"f charStyle-165dec60 ps13241\" style=\"width:136.33pt\">du r\u00e9sultat global, selon les normes</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:46.07pt\">applicables\u00a0;</span></div><div class=\"ps5351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">la diff\u00e9rence entre la contrepartie transf\u00e9r\u00e9e et la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2278 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">valeur des actifs identifiables acquis et des passifs</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps2279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:36.4pt\">assum\u00e9s </span><span class=\"f charStyle-165dec60 ps2159\" style=\"width:175.88pt\">\u00e0 la date de prise de contr\u00f4le repr\u00e9sente le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29704\" style=\"width:180.06pt\">, comptabilis\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:38.99pt\">financi\u00e8re.</span></div><div class=\"ps5356 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les ajustements de la juste valeur des actifs identifiables</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">acquis et des passifs repris enregistr\u00e9s sur une base</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:34.95pt\">provisoire</span><span class=\"f charStyle-165dec60 ps29705\" style=\"width:183.04pt\"> (en raison de travaux d\u2019expertise en cours ou</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.55pt\">d\u2019analyses c</span><span class=\"f charStyle-81f42323 ps29706\" style=\"width:170.42pt\">ompl\u00e9mentaires) sont comptabilis\u00e9s comme</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps2287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:69.18pt\">des ajustements</span><span class=\"f charStyle-165dec60 ps5626\" style=\"width:91.99pt\"> r\u00e9trospectifs du </span><span class=\"f charStyle-e8054d08 ps29707\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29708\" style=\"width:24.55pt\"> s\u2019ils</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">interviennent dans la p\u00e9riode d\u2019un an \u00e0 compter de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">date d\u2019acquisition et s\u2019ils r\u00e9sultent de faits et</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">circonstances existant \u00e0 la date d\u2019acquisition. Au\u2011del\u00e0 de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2291 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.86pt\">ce d\u00e9lai, les effets sont constat\u00e9s </span><span class=\"f charStyle-42e3db84 ps29709\" style=\"width:89.11pt\">directement en r\u00e9sultat,</span><span class=\"f charStyle-42e3db84 ps418\" style=\"width:1.82pt\"> </span></div><div class=\"ps29710 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:143.87pt\">comme tout changement d\u2019estimation.</span></div><div class=\"ps2294 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Des actifs incorporels peuvent \u00eatre reconnus au titre des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2295 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:217.93pt\">relations clients qui correspondent en substance \u00e0 des</span><span class=\"f charStyle-c709af45 ps415\" style=\"width:1.87pt\"> </span></div><div class=\"ps2296 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:30.43pt\">contrats</span><span class=\"f charStyle-165dec60 ps29711\" style=\"width:187.48pt\"> en cours d\u2019ex\u00e9cution \u00e0 la date de la prise de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps2298 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">contr\u00f4le et/ou des relations avec des clients r\u00e9guliers de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9 acquise (opportunit\u00e9 de conclusion de nouveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">contrats). Ces actifs incorporels sont \u00e9valu\u00e9s sur la base</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">de la m\u00e9thode dite du \u00ab\u00a0surprofit \u00bb consistant \u00e0 consid\u00e9rer</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">que la valeur de l\u2019actif incorporel \u00e9valu\u00e9 correspond \u00e0 la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:197.24pt\">valeur actualis\u00e9e des flux g\u00e9n\u00e9r\u00e9s par cet actif, </span><span class=\"f charStyle-165dec60 ps29712\" style=\"width:20.69pt\">apr\u00e8s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9duction d\u2019une charge capitalistique permettant de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">r\u00e9mun\u00e9rer les autres actifs mis en \u0153uvre. Des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">incorporels peuvent \u00eatre \u00e9galement reconnus au titre des</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">technologies (brevet\u00e9es ou non) et des marques.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">L\u2019\u00e9valuation de ces derniers s\u2019op\u00e8re soit sur la base de la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2319 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">m\u00e9thode dite des \u00ab\u00a0redevances\u00a0\u00bb soit sur la base de la</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.07pt\">m\u00e9thode dite du \u00ab\u00a0co\u00fbt de remplacement\u00a0\u00bb.</span></div><div class=\"ps19908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Pour chaque prise de contr\u00f4le impliquant une prise de</span><span class=\"f charStyle-b5684510 ps608\" style=\"width:1.8pt\"> </span></div><div class=\"ps2322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.92pt\">participation inf\u00e9rieure \u00e0 100\u00a0%, la fraction d\u2019int\u00e9r\u00eat non</span><span class=\"f charStyle-b5684510 ps410\" style=\"width:1.8pt\"> </span></div><div class=\"ps2323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:34.2pt\">acquise (</span><span class=\"f charStyle-165dec60 ps29713\" style=\"width:183.79pt\">participations ne donnant pas le contr\u00f4le) est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.67pt\">\u00e9valu\u00e9e\u00a0:</span></div><div class=\"ps8150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:165.85pt\">soit \u00e0 sa juste valeur : dans ce cas, un </span><span class=\"f charStyle-7e8471c2 ps29714\" style=\"width:30.55pt\">goodwill</span><span class=\"f charStyle-73c14ed6 ps29715\" style=\"width:15.85pt\"> est</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps8151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:46.19pt\">comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps29716\" style=\"width:166.08pt\"> pour la part relative aux participations ne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:180.04pt\">donnant pas le contr\u00f4le (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29717\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:37.54pt\">complet)\u00a0;</span></div><div class=\"ps29718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.3pt\">soit \u00e0 sa quote-part d\u2019actif net identifiable de l\u2019entit\u00e9</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps29722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:31.28pt\">acquise\u00a0:</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:80.32pt\"> dans ce cas, seul un </span><span class=\"f charStyle-e8054d08 ps29720\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29721\" style=\"width:68.41pt\"> au titre de la part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:146.18pt\">acquise est comptabilis\u00e9 (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29723\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29724\" style=\"width:30.1pt\"> partiel).</span></div><div class=\"ps29726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les co\u00fbts directement attribuables \u00e0 l\u2019acquisition sont</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">comptabilis\u00e9s sur la ligne \u00ab\u00a0Autres produits et charges\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.02pt\">sur la p\u00e9riode au cours de laquelle ils sont encourus.</span></div><div class=\"ps29729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les ajustements ou compl\u00e9ments de prix \u00e9ventuels du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">regroupement d\u2019entreprises sont valoris\u00e9s \u00e0 la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">valeur \u00e0 la date de l\u2019acquisition m\u00eame si leur r\u00e9alisation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">n\u2019est pas consid\u00e9r\u00e9e comme probable. Apr\u00e8s la date</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29734 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.08pt\">d\u2019acquisition, les c</span><span class=\"f charStyle-81f42323 ps29733\" style=\"width:143.91pt\">hangements d\u2019estimation de la juste</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps29737 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:86.28pt\">valeur des ajustements</span><span class=\"f charStyle-165dec60 ps29735\" style=\"width:3.46pt\"> </span><span class=\"f charStyle-367d076b ps29736\" style=\"width:128.2pt\">de prix entra\u00eenent un ajustement</span><span class=\"f charStyle-367d076b ps610\" style=\"width:1.88pt\"> </span></div><div class=\"ps29740 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:13.28pt\">du </span><span class=\"f charStyle-495ee8f6 ps29738\" style=\"width:31.59pt\">goodwill</span><span class=\"f charStyle-367d076b ps21471\" style=\"width:69.05pt\"> uniquement s\u2019ils </span><span class=\"f charStyle-165dec60 ps29739\" style=\"width:104.05pt\">interviennent dans le d\u00e9lai</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019affectation (un an maximum \u00e0 compter de la date</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019acquisition) et s\u2019ils r\u00e9sultent de faits et circonstances</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">existant \u00e0 la date d\u2019acquisition. Dans tous les autres cas, le</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">changement est constat\u00e9 en r\u00e9sultat ou parmi les autres</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">\u00e9l\u00e9ments du r\u00e9sultat global selon la norme IFRS</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.02pt\">appropri\u00e9e.</span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Dans un regroupement d\u2019entreprises r\u00e9alis\u00e9 par \u00e9tapes, la</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">participation que le Groupe d\u00e9tenait pr\u00e9c\u00e9demment</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">dans l\u2019entreprise acquise est r\u00e9\u00e9valu\u00e9e, au moment de la</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">prise de contr\u00f4le de cette entreprise, \u00e0 la juste valeur par</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.76pt\">le compte de r\u00e9sultat. Pour la d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps29742\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e0 la date d\u2019obtention du contr\u00f4le, la juste valeur de la</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">contrepartie transf\u00e9r\u00e9e (par exemple le prix pay\u00e9) est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">augment\u00e9e de la juste valeur de la participation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.35pt\">pr\u00e9c\u00e9demment d\u00e9tenue par </span><span class=\"f charStyle-81f42323 ps29743\" style=\"width:102.63pt\">le Groupe. Le montant des</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:151.5pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps29744\" style=\"width:9.1pt\"> </span><span class=\"f charStyle-81f42323 ps20435\" style=\"width:57.35pt\">pr\u00e9c\u00e9demment</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:183.13pt\">comptabilis\u00e9 au titre de la participation d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps29745\" style=\"width:34.84pt\"> avant la</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2965 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.7pt\">prise de contr\u00f4le est recycl\u00e9 en compte de r\u00e9sultat.</span></div><div class=\"ps29747 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29649\">3.1.4<span id=\"i7aa1759cf25445c39c0784c90ca3c210\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29746\"><span style=\"display:inline-block;height:8.71pt;width:14.28pt\"></span></span><span class=\"ps29651\">Transactions concernant </span></span></div><div class=\"ps29749 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">les\u00a0</span><span class=\"f charStyle-0f5edfbc ps29748\">participations ne donnant </span></div><div class=\"ps29750 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-0f5edfbc ps29651\">pas\u00a0le\u00a0contr\u00f4le</span></div><div class=\"ps29751 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.6pt\">En l\u2019absence de</span><span class=\"f charStyle-165dec60 ps21274\" style=\"width:158.33pt\"> changement de contr\u00f4le, la variation des</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29752 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">transactions concernant les participations ne donnant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.76pt\">pas le </span><span class=\"f charStyle-53279637 ps29753\" style=\"width:188.19pt\">contr\u00f4le est comptabilis\u00e9e en capitaux propres.</span><span class=\"f charStyle-53279637 ps16281\" style=\"width:1.85pt\"> </span></div><div class=\"ps29756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:45.8pt\">Notamment</span><span class=\"f charStyle-165dec60 ps29755\" style=\"width:172.18pt\">, lors d\u2019une acquisition compl\u00e9mentaire de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:66.83pt\">titres d\u2019une entit\u00e9</span><span class=\"f charStyle-bd9dab06 ps29757\" style=\"width:151.1pt\"> d\u00e9j\u00e0 contr\u00f4l\u00e9e par le Groupe, l\u2019\u00e9cart entre</span><span class=\"f charStyle-bd9dab06 ps16299\" style=\"width:1.81pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:217.99pt\">le prix d\u2019acquisition des titres et la quote-part</span><span class=\"f charStyle-bd9dab06 ps16296\" style=\"width:1.81pt\"> </span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:140.89pt\">compl\u00e9mentaire des capitaux propre</span><span class=\"f charStyle-165dec60 ps29758\" style=\"width:7.68pt\">s </span><span class=\"f charStyle-81f42323 ps29759\" style=\"width:69.38pt\">consolid\u00e9s acquise</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:204.52pt\">est enregistr\u00e9 en capitaux propres attribuable </span><span class=\"f charStyle-165dec60 ps29760\" style=\"width:13.46pt\">aux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:198.61pt\">actionnaires de la Soci\u00e9t\u00e9. La valeur consolid\u00e9e des </span><span class=\"f charStyle-81993cb5 ps29761\" style=\"width:19.35pt\">actifs</span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps29766 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:101.16pt\">et passifs identifiables de </span><span class=\"f charStyle-81993cb5 ps29763\" style=\"width:82.91pt\">l\u2019entit\u00e9 (y compris le </span><span class=\"f charStyle-55d48e21 ps29764\" style=\"width:31.51pt\">goodwill</span><span class=\"f charStyle-81993cb5 ps29765\" style=\"width:2.37pt\">)</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29768 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.77pt\">reste inchang\u00e9e</span><span class=\"f charStyle-165dec60 ps29767\" style=\"width:1.59pt\">.</span></div><div class=\"ps29770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29649\">3.1.5<span id=\"i549ab7eb1ff24deaa9bd477aadbfe6b0\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29769\"><span style=\"display:inline-block;height:8.71pt;width:15.13pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29651\">Actifs et passifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s </span></div><div class=\"ps29771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">et\u00a0activit\u00e9s abandonn\u00e9es</span></div><div class=\"ps6299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque le Groupe s\u2019attend \u00e0 recouvrer la valeur d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">ou d\u2019un groupe d\u2019actifs, par sa vente plut\u00f4t que par son</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">utilisation, cet actif est pr\u00e9sent\u00e9 distinctement sur la ligne</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00ab\u00a0Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">financi\u00e8re. Les passifs relatifs \u00e0 cet actif sont \u00e9galement</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">pr\u00e9sent\u00e9s, le cas \u00e9ch\u00e9ant, sur la ligne \u00ab\u00a0Passifs destin\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation financi\u00e8re. Un actif</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps6306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">class\u00e9 comme tel est \u00e9valu\u00e9 au montant le plus faible de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps6307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur comptable et de son prix de vente estim\u00e9,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">diminu\u00e9 des frais li\u00e9s \u00e0 la vente. Il ne fait en cons\u00e9quence</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps6309 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:120.6pt\">plus l\u2019objet d\u2019un amortissement.</span></div><div class=\"ps13412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Une activit\u00e9 abandonn\u00e9e repr\u00e9sente, selon la norme</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">IFRS\u00a05 une composante dont le Groupe s\u2019est s\u00e9par\u00e9 ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps22015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:204.37pt\">qui est class\u00e9e comme d\u00e9tenue en vue de la vente, et\u00a0:</span></div><div class=\"ps4793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:212.29pt\">qui repr\u00e9sente une ligne d\u2019activit\u00e9 ou une r\u00e9gion</span><span class=\"f charStyle-dd2d44ff ps16295\" style=\"width:1.75pt\"> </span></div><div class=\"ps4794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:51.2pt\">g\u00e9ographique</span><span class=\"f charStyle-165dec60 ps29773\" style=\"width:87.09pt\"> principale et distincte\u00a0;</span></div><div class=\"ps4796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:212.3pt\">faisant partie d\u2019un plan unique et coordonn\u00e9 pour se</span><span class=\"f charStyle-bd9dab06 ps29668\" style=\"width:1.81pt\"> </span></div><div class=\"ps4797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:41.26pt\">s\u00e9parer d</span><span class=\"f charStyle-165dec60 ps29774\" style=\"width:171.02pt\">\u2019une ligne d\u2019activit\u00e9 ou d\u2019une r\u00e9gion</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:140.81pt\">g\u00e9ographique principale et distincte\u00a0;</span></div><div class=\"ps12145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3c2b601a ps448\" style=\"width:2.62pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps26704\" style=\"width:211.3pt\">ou une filiale acquise exclusivement en vue de la revente.</span></div><div class=\"ps12518 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">La classification comme activit\u00e9 abandonn\u00e9e intervient</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps12520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">au moment de la cession ou \u00e0 une date ant\u00e9rieure</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">lorsque l\u2019activit\u00e9 satisfait aux crit\u00e8res pour \u00eatre class\u00e9e</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comme d\u00e9tenue en vue de la vente. Le r\u00e9sultat ainsi que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">la plus ou moins-value de cession de ces activit\u00e9s sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps16963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">alors pr\u00e9sent\u00e9s, nets d\u2019imp\u00f4ts, sur une ligne distincte du</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">compte de r\u00e9sultat. Le m\u00eame traitement est appliqu\u00e9 de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">mani\u00e8re comparative au compte de r\u00e9sultat de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps12155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div><div class=\"ps4869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Dans le cas des actifs relatifs \u00e0 des activit\u00e9s qui n\u2019ont pas</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9t\u00e9 class\u00e9es en activit\u00e9s abandonn\u00e9es, les \u00e9ventuelles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">pertes de valeur et le r\u00e9sultat de cession de ces actifs sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:175.29pt\">inclus dans le r\u00e9sultat op\u00e9rationnel du Groupe.</span></div><div class=\"ps29239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.64pt\">Conform\u00e9ment aux dispositions de la norme IFRS 8 \u00ab\u00a0Secteurs op\u00e9rationnels\u00a0\u00bb, l\u2019information sectorielle pr\u00e9sent\u00e9e ci-apr\u00e8s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.56pt\">est fond\u00e9e sur le reporting interne utilis\u00e9 par la Direction G\u00e9n\u00e9rale pour \u00e9valuer les performances et allouer les ressources</span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> </span></div><div class=\"ps29854 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:446.66pt\">aux diff\u00e9rents secteurs. La Direction G\u00e9n\u00e9rale repr\u00e9sente le principal d\u00e9cideur op\u00e9rationnel au sens de la norme IFRS 8.<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">Pour chaque projet automobile, les trois principales<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.15pt\">promesses<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30146\" style=\"width:178.84pt\"> faites par Valeo \u00e0 un constructeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:166.37pt\">g\u00e9n\u00e9ralement identifi\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u00e9veloppement Produit, qui comprend notamment la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">d\u00e9termination des sp\u00e9cificit\u00e9s techniques intrins\u00e8ques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">des pi\u00e8ces ainsi que celles li\u00e9es au processus de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:49.02pt\">production </span><span class=\"f charStyle-81f42323 ps30152\" style=\"width:163.28pt\">associ\u00e9. \u00c0 ce titre, cette promesse est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:88.71pt\">consid\u00e9r\u00e9e usuellement</span><span class=\"f charStyle-165dec60 ps30154\" style=\"width:123.58pt\"> comme li\u00e9e \u00e0 la promesse de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des pi\u00e8ces ; les \u00e9ventuelles contributions</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">client au titre du D\u00e9veloppement Produit sont donc</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">reconnues en chiffre d\u2019affaires lors de la\u00a0production en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.22pt\">s\u00e9rie, soit au fur et \u00e0 mesure que la promesse de livrer</span><span class=\"f charStyle-165dec60 ps30159\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">les pi\u00e8ces est remplie dans la limite de quatre ans. Cette<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:173.45pt\">conclusion g\u00e9n\u00e9rale ne pr\u00e9sage pas du </span><span class=\"f charStyle-81f42323 ps30162\" style=\"width:38.83pt\">traitement</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps30164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.29pt\">comptable \u00e0 appliquer en fonction des sp\u00e9cificit\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:193.14pt\">contractuelles et op\u00e9rationnelles de chaque projet\u00a0;</span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des outillages de production, tels que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">moules et les autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:86.71pt\">production des pi\u00e8ces\u00a0:</span></div><div class=\"ps30169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">pour certaines activit\u00e9s, la fourniture de moules peut</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">\u00eatre consid\u00e9r\u00e9e comme une promesse distincte au</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">regard de l\u2019analyse du transfert de contr\u00f4le effectu\u00e9e.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">Le chiffre d\u2019affaires est alors reconnu lors du d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:131.18pt\">de la production en s\u00e9rie du projet,<span class=\"f ps53\"> </span></span></div><div class=\"ps30174 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">la fourniture des autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">production des pi\u00e8ces est consid\u00e9r\u00e9e comme li\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30175 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">fourniture des pi\u00e8ces. Toute contribution re\u00e7ue \u00e0 ce<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">titre est donc diff\u00e9r\u00e9e et reconnue sur la dur\u00e9e de vie</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">industrielle du projet au fur et \u00e0 mesure que la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.42pt\">promesse de livrer les pi\u00e8ces est remplie dans la limite</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:53.38pt\">de quatre ans,<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps30180\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.49pt\">fourniture des pi\u00e8ces, dont le chiffre d\u2019affaires est</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.43pt\">constat\u00e9 au moment o\u00f9 le contr\u00f4le sur les pi\u00e8ces est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:176.48pt\">transf\u00e9r\u00e9 au client, soit en g\u00e9n\u00e9ral \u00e0 la livraison.</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00c0 ce titre, le chiffre d\u2019affaires inclut essentiellement les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">ventes de produits finis, ainsi que l\u2019ensemble des revenus</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sur outillages et les contributions clients sur les frais de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Recherche et D\u00e9veloppement et les prototypes. Il est</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">\u00e9valu\u00e9 \u00e0 la juste valeur de la contrepartie attendue, net</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">des rabais, remises et ristournes \u00e9ventuels et hors TVA et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">autres taxes. Le cas \u00e9ch\u00e9ant, lorsque le prix d\u2019un contrat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">fait l\u2019objet d\u2019une modification, l\u2019impact de cette r\u00e9vision</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">est allou\u00e9 aux obligations de performance sur lesquelles</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:92.97pt\">porte cette modification.</span><span class=\"f charStyle-165dec60 ps18267\" style=\"width:1.96pt\"> </span></div><div class=\"ps30182 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:6.19pt\">D</span><span class=\"f charStyle-81f42323 ps30181\" style=\"width:211.77pt\">ans le cadre de contrats sp\u00e9cifiques, l\u2019examen de la relation</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30183 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">avec le client final conduit Valeo \u00e0 consid\u00e9rer qu\u2019il agit en</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps30184 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">tant qu\u2019agent dans la mise \u00e0 disposition au client final de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">composants dits \u00ab\u00a0impos\u00e9s\u00a0\u00bb. \u00c0 ce titre, les transactions</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">dans lesquelles Valeo agit comme agent sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comptabilis\u00e9es pour leur montant net. Ce mod\u00e8le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30185 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9conomique concerne notamment l\u2019activit\u00e9 des modules</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30187 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.29pt\">face avant de la Division POWER.</span><span class=\"f charStyle-165dec60 ps30186\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Contractuellement, Valeo se voit g\u00e9n\u00e9ralement octroy\u00e9</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l'int\u00e9gralit\u00e9 des besoins d'un client pour la fourniture de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">pi\u00e8ces pour un projet sp\u00e9cifique. Tant qu\u2019un appel ferme</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">de volumes n\u2019a pas \u00e9t\u00e9 re\u00e7u du client, les volumes futurs</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30188 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">pr\u00e9visionnels ne peuvent pas \u00eatre inclus dans le carnet de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30189 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">commandes tel que d\u00e9fini par IFRS 15. La publication de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81f42323 ps6329\" style=\"width:19.94pt\">ette </span><span class=\"f charStyle-165dec60 ps30190\" style=\"width:193.81pt\">information n\u2019est donc pas consid\u00e9r\u00e9e comme</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17510 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:41.49pt\">pertinente.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances clients sont des actifs financiers courants,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initialement enregistr\u00e9es \u00e0 la juste valeur et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ult\u00e9rieurement au co\u00fbt amorti diminu\u00e9 des pertes de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">valeurs attendues. La juste valeur initiale des cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">clients est assimil\u00e9e \u00e0 leur valeur nominale compte tenu</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement inf\u00e9rieures \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.28pt\">trois\u00a0mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les cr\u00e9ances clients font l\u2019objet d\u2019une d\u00e9pr\u00e9ciation au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">titre des pertes attendues. Les deux m\u00e9thodes</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">d\u2019\u00e9valuation des pertes attendues utilis\u00e9es sont les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:39.04pt\">suivantes\u00a0:</span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.32pt\">\u00e9valuation des pertes attendues sur la base des pertes sur</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:83.8pt\">cr\u00e9ances historiques, </span><span class=\"f charStyle-165dec60 ps30236\" style=\"width:128.49pt\">de l\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019analyses de risque individuelles au niveau d\u2019une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:133.93pt\">cr\u00e9ance ou un groupe de cr\u00e9ances ;</span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9valuation sur la base de la notation de cr\u00e9dit des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:26.13pt\">clients.</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Elles sont comptabilis\u00e9es en r\u00e9sultat op\u00e9rationnel ou, si</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:19.13pt\">elles </span><span class=\"f charStyle-c709af45 ps30238\" style=\"width:198.81pt\">sont li\u00e9es \u00e0 un risque de cr\u00e9dit du d\u00e9biteur, en autres</span><span class=\"f charStyle-c709af45 ps610\" style=\"width:1.87pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:27.32pt\">produit</span><span class=\"f charStyle-165dec60 ps22018\" style=\"width:85.26pt\">s et charges financiers.</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Dans le cadre d\u2019op\u00e9rations r\u00e9currentes ou ponctuelles, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">cr\u00e9ances clients peuvent faire l\u2019objet d\u2019escompte et \u00eatre</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">c\u00e9d\u00e9es \u00e0 des \u00e9tablissements bancaires. Conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:17.24pt\">aux </span><span class=\"f charStyle-d77d7991 ps30243\" style=\"width:200.69pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-d77d7991 ps16299\" style=\"width:1.91pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:37.57pt\">financiers,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30244\" style=\"width:180.39pt\"> une analyse est alors men\u00e9e lors de ces</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">op\u00e9rations pour \u00e9valuer le transfert des risques et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">avantages inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">notamment celui du risque de cr\u00e9dit, du risque de retard</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">de paiement et du risque de dilution. Si cet examen met</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">en \u00e9vidence non seulement le transfert contractuel du</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:152.92pt\">droit \u00e0 recevoir les flux de tr\u00e9sorerie </span><span class=\"f charStyle-7cdffd50 ps30081\" style=\"width:65.01pt\">li\u00e9s aux cr\u00e9ances</span><span class=\"f charStyle-7cdffd50 ps16299\" style=\"width:1.77pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:217.95pt\">c\u00e9d\u00e9es, mais aussi celui de la quasi-totalit\u00e9 des risques et</span><span class=\"f charStyle-7cdffd50 ps16281\" style=\"width:1.77pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:208.33pt\">avantages, les cr\u00e9ances clients sont d\u00e9comptabilis\u00e9es </span><span class=\"f charStyle-165dec60 ps30245\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e et tous les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">droits cr\u00e9\u00e9s ou conserv\u00e9s lors du transfert sont reconnus,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.23pt\">le cas \u00e9ch\u00e9ant.</span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Dans la situation inverse, les cr\u00e9ances clients continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue \u00e0 hauteur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:86.63pt\">du montant escompt\u00e9.</span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">Les baisses de prix octroy\u00e9es en avance aux constructeurs</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:3.66pt\">s</span><span class=\"f charStyle-9206869b ps8949\" style=\"width:214.31pt\">ont comptabilis\u00e9es en actifs sur contrat au sein des</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:33.17pt\">cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps30250\" style=\"width:184.79pt\"> clients dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e lors de leur paiement. Elles sont ensuite</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps20651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">reconnues lin\u00e9airement au compte de r\u00e9sultat en</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">d\u00e9duction du chiffre d\u2019affaires \u00e0 compter de la date de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:138.76pt\">d\u00e9marrage de la production en s\u00e9rie.</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.63pt\">Le co\u00fbt des ventes inclut, le cas \u00e9ch\u00e9ant, les indemnit\u00e9s d\u2019assurance relatives \u00e0 des sinistres intervenus dans le cadre des</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.64pt\">activit\u00e9s op\u00e9rationnelles du Groupe. Il peut s\u2019agir de crises qualit\u00e9 ou de dommages aux biens. Un produit d\u2019assurance est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.52pt\">enregistr\u00e9 au compte de r\u00e9sultat \u00e0 la date du sinistre, s\u2019il est d\u00e9montr\u00e9 que les dommages sont couverts par une police</span><span class=\"f charStyle-165dec60 ps19112\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.62pt\">d'assurance en cours de validit\u00e9. Si ce droit est conditionn\u00e9 \u00e0 la r\u00e9alisation ult\u00e9rieure de r\u00e9parations ou\u00a0\u00e0\u00a0l\u2019acquisition de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.55pt\">nouveaux actifs (indemnit\u00e9 conditionnelle), le produit y aff\u00e9rent doit \u00eatre reconnu au moment o\u00f9 interviennent les</span><span class=\"f charStyle-165dec60 ps30348\" style=\"width:1.96pt\"> </span></div><div class=\"ps4979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:139.66pt\">r\u00e9parations ou acquisitions pr\u00e9cit\u00e9es.<span class=\"f ps53\"> </span></span></div><div class=\"ps15226 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:12.6pt\">Les</span><span class=\"f charStyle-165dec60 ps30383\" style=\"width:205.3pt\"> stocks sont \u00e9valu\u00e9s au plus bas du co\u00fbt et de la valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15227 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">nette de r\u00e9alisation. Des d\u00e9pr\u00e9ciations sont constitu\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15228 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:22.41pt\">lorsqu</span><span class=\"f charStyle-165dec60 ps30384\" style=\"width:195.51pt\">e la valeur probable de r\u00e9alisation est inf\u00e9rieure au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15229 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">prix de revient. La valeur probable de r\u00e9alisation est bas\u00e9e</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15230 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">sur le prix des produits sur leur march\u00e9 de r\u00e9f\u00e9rence et</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15231 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">tient compte, le cas \u00e9ch\u00e9ant, du risque d\u2019obsolescence li\u00e9</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps15232 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">\u00e0 une faible rotation du stock pour une r\u00e9f\u00e9rence produit</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps15233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">donn\u00e9e. Les stocks obsol\u00e8tes et/ou destin\u00e9s \u00e0 \u00eatre</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:144.31pt\">d\u00e9truits sont int\u00e9gralement d\u00e9pr\u00e9ci\u00e9s.</span><span class=\"f charStyle-165dec60 ps30385\" style=\"width:1.96pt\"> </span></div><div class=\"ps30387 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les stocks de mati\u00e8res premi\u00e8res ou marchandises sont</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30388 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">valoris\u00e9s au co\u00fbt d\u2019achat. Les stocks de produits finis et</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30389 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">les en-cours de production sont valoris\u00e9s \u00e0 leur co\u00fbt de</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30390 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">production. Ce co\u00fbt de production comprend le co\u00fbt des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30391 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">mati\u00e8res et fournitures mises en \u0153uvre, de la main-</span></div><div class=\"ps30392 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">d\u2019\u0153uvre de production, des autres frais directs de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27951 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">production et des frais indirects d\u2019usine, \u00e0 l\u2019exclusion des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps27954 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">frais g\u00e9n\u00e9raux ne contribuant pas \u00e0 la production. Ces</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27956 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">co\u00fbts sont d\u00e9termin\u00e9s par r\u00e9f\u00e9rence \u00e0 la m\u00e9thode</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps27959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">\u00ab\u00a0Premier Entr\u00e9, Premier Sorti\u00a0\u00bb (First In, First Out) et,</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps27960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">compte tenu de la rotation des stocks, sont proches des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:88.29pt\">derniers prix de revient.</span></div><div class=\"ps15226 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">Les outillages de production, sp\u00e9cifiques \u00e0 un projet, font</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15227 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:217.95pt\">l\u2019objet d\u2019une analyse \u00e9conomique de la relation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps16281\" style=\"width:1.82pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15228 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:50.26pt\">contractuelle </span><span class=\"f charStyle-165dec60 ps30393\" style=\"width:167.66pt\">avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps15229 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">contr\u00f4le de l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps15230 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont immobilis\u00e9s dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps15231 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.39pt\">Groupe (cf. </span><span class=\"f charStyle-165dec60 ps30394\" style=\"width:36.8pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps30395\" style=\"width:99.82pt\">, pages 416 \u00e0 418, s</span><span class=\"f charStyle-367d076b ps30396\" style=\"width:25.98pt\">ur les</span><span class=\"f charStyle-367d076b ps16296\" style=\"width:1.88pt\"> </span></div><div class=\"ps15232 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:210.28pt\">immobilisations corporelles) lorsque ce contr\u00f4le revient</span><span class=\"f charStyle-165dec60 ps30397\" style=\"width:7.68pt\"> \u00e0</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Valeo ou comptabilis\u00e9s en stocks (jusqu\u2019au transfert de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">contr\u00f4le) dans le cas contraire. La perte \u00e9ventuelle sur le</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps30398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:217.99pt\">contrat d\u2019outillage (correspondant \u00e0 l\u2019\u00e9cart entre la</span><span class=\"f charStyle-42e3db84 ps16296\" style=\"width:1.82pt\"> </span></div><div class=\"ps28019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:40.37pt\">contributio</span><span class=\"f charStyle-165dec60 ps19479\" style=\"width:177.57pt\">n du client et le prix de revient de l\u2019outillage)</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps28021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:148.96pt\">est provisionn\u00e9e d\u00e8s qu\u2019elle est connue.</span></div><div class=\"ps16999 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">La marge op\u00e9rationnelle correspond au chiffre d\u2019affaires diminu\u00e9 des co\u00fbts des ventes, des frais de Recherche et de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps26554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:59.87pt\">D\u00e9veloppement</span><span class=\"f charStyle-165dec60 ps30432\" style=\"width:187.55pt\"> ainsi que des frais commerciaux et administratifs.</span></div><div class=\"ps13634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.56pt\">La marge op\u00e9rationnelle y compris la quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence correspond au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:204.16pt\">r\u00e9sultat op\u00e9rationnel avant autres produits et charges.</span></div><div class=\"ps14006 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Le processus d\u2019innovation peut s\u2019analyser en une activit\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:217.93pt\">de recherche et une activit\u00e9 de d\u00e9veloppement. La</span><span class=\"f charStyle-49b0b1fa ps415\" style=\"width:1.84pt\"> </span></div><div class=\"ps14008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:45.52pt\">recherche <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30465\" style=\"width:19.78pt\">est </span><span class=\"f charStyle-53279637 ps30466\" style=\"width:152.67pt\">l\u2019activit\u00e9 qui permet d\u2019acqu\u00e9rir des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps418\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:101.33pt\">connaissances scientifiques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30467\" style=\"width:2.07pt\"> </span><span class=\"f charStyle-81f42323 ps30468\" style=\"width:114.58pt\">ou des techniques nouvelles. Le</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:115.54pt\">d\u00e9veloppement est l\u2019application</span><span class=\"f charStyle-165dec60 ps30469\" style=\"width:2.02pt\"> </span><span class=\"f charStyle-56831d77 ps30470\" style=\"width:100.42pt\">des r\u00e9sultats de la recherche</span><span class=\"f charStyle-56831d77 ps431\" style=\"width:1.7pt\"> </span></div><div class=\"ps14011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps6588\" style=\"width:171.73pt\">en vue de la r\u00e9alisation des produits,</span><span class=\"f charStyle-e64cbdd5 ps30471\" style=\"width:9.18pt\"> </span><span class=\"f charStyle-165dec60 ps30472\" style=\"width:37.05pt\">avant le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps22258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.86pt\">commencement de leur production commerciale.<span class=\"f ps53\"> </span></span></div><div class=\"ps14014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les co\u00fbts li\u00e9s \u00e0 la recherche sont comptabilis\u00e9s en charge</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.83pt\">de l\u2019exercice au cours duquel ils sont encourus.</span><span class=\"f charStyle-165dec60 ps30473\" style=\"width:1.96pt\"> </span></div><div class=\"ps21176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les frais de d\u00e9veloppement sont, quant \u00e0 eux,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">immobilis\u00e9s d\u00e8s lors que le Groupe est en mesure de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps18764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:44.45pt\">d\u00e9montrer\u00a0:</span></div><div class=\"ps30474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">son intention ainsi que sa capacit\u00e9 financi\u00e8re et</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps30475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:40.87pt\">technique <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5316\" style=\"width:171.44pt\">de mener le projet de d\u00e9veloppement \u00e0 son</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">terme, qui se mat\u00e9rialisent notamment par l\u2019obtention</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:185.98pt\">d\u2019une lettre de nomination du client sur le projet\u00a0;</span></div><div class=\"ps30478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps3285\" style=\"width:212.28pt\">que l\u2019actif incorporel g\u00e9n\u00e9rera des avantages<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30480 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps3285\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps21387\" style=\"width:3.48pt\"> </span><span class=\"f charStyle-49b0b1fa ps30479\" style=\"width:158.51pt\">futurs d\u2019une valeur sup\u00e9rieure \u00e0 sa valeur</span><span class=\"f charStyle-49b0b1fa ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps30482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps3285\" style=\"width:66.4pt\">nette comptable,</span><span class=\"f charStyle-165dec60 ps30481\" style=\"width:145.91pt\"> qui s\u2019analyse notamment par une</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:157.72pt\">marge pr\u00e9visionnelle du projet suffisante ;</span></div><div class=\"ps15194 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.24pt\">et que le co\u00fbt de cet actif incorporel peut \u00eatre \u00e9valu\u00e9 de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15195 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:45.09pt\">fa\u00e7on fiable.</span></div><div class=\"ps14006 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Les frais de d\u00e9veloppement inscrits \u00e0 l\u2019actif de l\u2019\u00e9tat de la</span><span class=\"f charStyle-56831d77 ps16299\" style=\"width:1.7pt\"> </span></div><div class=\"ps14007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps448\" style=\"width:217.95pt\">situation financi\u00e8re correspondent donc \u00e0 des projets</span><span class=\"f charStyle-56831d77 ps16281\" style=\"width:1.7pt\"> </span></div><div class=\"ps14008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps448\" style=\"width:45.35pt\">d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30484\" style=\"width:172.58pt\"> sp\u00e9cifique \u00e0 un client donn\u00e9, reposant sur</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps14009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">des standards g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u00e9j\u00e0 appliqu\u00e9es en production. Ces projets font l\u2019objet</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019une analyse au cas par cas afin de s\u2019assurer qu\u2019ils</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps22258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9pondent bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s ci-</span></div><div class=\"ps22259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">contre. Les frais encourus avant la d\u00e9cision formelle</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps22260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">d\u2019entrer dans le d\u00e9veloppement du produit sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps22261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:203.22pt\">enregistr\u00e9s dans les charges de la p\u00e9riode. Les </span><span class=\"f charStyle-81f42323 ps30485\" style=\"width:14.73pt\">frais</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps22262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.95pt\">encourus post\u00e9rieurement au d\u00e9marrage de la production</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps22263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:199.6pt\">en s\u00e9rie sont trait\u00e9s comme des co\u00fbts de production.</span><span class=\"f charStyle-165dec60 ps30486\" style=\"width:1.96pt\"> </span></div><div class=\"ps21335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">Les frais de d\u00e9veloppement immobilis\u00e9s li\u00e9s \u00e0 des projets</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps21336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">n'ayant pas encore atteint le d\u00e9marrage s\u00e9rie font l'objet</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30487 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">de tests de d\u00e9pr\u00e9ciation d\u00e8s l'apparition d'indices de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">perte de valeur et en tout \u00e9tat de cause au minimum une</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fois par an. Post\u00e9rieurement au d\u00e9marrage s\u00e9rie, ils sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9116 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:32.31pt\">test\u00e9s a<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps30490\" style=\"width:185.68pt\">u niveau des unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie</span><span class=\"f charStyle-42e3db84 ps16296\" style=\"width:1.82pt\"> </span></div><div class=\"ps7915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:12.07pt\">(cf.\u00a0</span><span class=\"f charStyle-42e3db84 ps30491\" style=\"width:30.15pt\">Note 7.4</span><span class=\"f charStyle-42e3db84 ps30492\" style=\"width:63.72pt\">, pages 419 \u00e0 422).</span></div><div class=\"ps21340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais de d\u00e9veloppement immobilis\u00e9s sont amortis</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">selon la m\u00e9thode lin\u00e9aire sur une dur\u00e9e maximale de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30495 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.58pt\">quatre ans </span><span class=\"f charStyle-c8069515 ps30494\" style=\"width:170.36pt\">\u00e0 compter de la date de d\u00e9marrage de la</span><span class=\"f charStyle-c8069515 ps16283\" style=\"width:1.84pt\"> </span></div><div class=\"ps30496 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:72.38pt\">production en\u00a0s\u00e9rie.</span></div><div class=\"ps30537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:89.03pt\">Les frais de Recherche </span><span class=\"f charStyle-165dec60 ps30534\" style=\"width:7.57pt\">et</span><span class=\"f charStyle-165dec60 ps30535\" style=\"width:361.89pt\"> de D\u00e9veloppement sont constitu\u00e9s des co\u00fbts encourus sur la p\u00e9riode, y compris les dotations</span><span class=\"f charStyle-165dec60 ps30536\" style=\"width:1.96pt\"> </span></div><div class=\"ps30538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.61pt\">aux amortissements des co\u00fbts de d\u00e9veloppement capitalis\u00e9s, minor\u00e9s des cr\u00e9dits d\u2019imp\u00f4t recherche et de la quote-part</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:378.05pt\">rapport\u00e9e au r\u00e9sultat des subventions accord\u00e9es au Groupe pour la Recherche et le D\u00e9veloppement.</span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:219.87pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche en France, dont le calcul est\u00a0</span><span class=\"f charStyle-165dec60 ps30580\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">bas\u00e9 sur certaines d\u00e9penses de recherche relatives \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">projets jug\u00e9s\u00a0\u00ab\u00a0\u00e9ligibles\u00a0\u00bb,\u00a0est pay\u00e9 par l\u2019\u00c9tat quelle que</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">soit la situation de l\u2019entit\u00e9 au regard de l\u2019imp\u00f4t sur les</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">soci\u00e9t\u00e9s\u00a0: si la soci\u00e9t\u00e9 b\u00e9n\u00e9ficiaire du Cr\u00e9dit d\u2019Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Recherche est redevable de l\u2019imp\u00f4t sur les soci\u00e9t\u00e9s, ce</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.9pt\">cr\u00e9dit sera imput\u00e9 sur l\u2019imp\u00f4t \u00e0 payer\u00a0; \u00e0 d\u00e9faut, il sera</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps30585 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.93pt\">rembours\u00e9 par l\u2019\u00c9tat dans un d\u00e9lai de trois ans.</span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche, ou tout autre dispositif fiscal</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">similaire dans d\u2019autres juridictions, n\u2019entre donc pas dans</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">le champ d\u2019application de la norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">r\u00e9sultat\u00a0\u00bb et est comptabilis\u00e9 en diminution des frais de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Recherche et D\u00e9veloppement dans la marge</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">op\u00e9rationnelle du Groupe au rythme o\u00f9 les co\u00fbts financ\u00e9s</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:140.48pt\">sont reconnus au compte de r\u00e9sultat.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances de Cr\u00e9dit d\u2019Imp\u00f4t Recherche ainsi que les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.97pt\">cr\u00e9dits de TVA peuvent faire l\u2019objet d\u2019une op\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps418\" style=\"width:1.8pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:42.78pt\">d\u2019escompte</span><span class=\"f charStyle-165dec60 ps30594\" style=\"width:175.16pt\"> et \u00eatre c\u00e9d\u00e9es \u00e0 des \u00e9tablissements</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bancaires. De mani\u00e8re analogue aux cr\u00e9ances clients, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:114.85pt\">financiers s\u2019appliquent. Une </span><span class=\"f charStyle-81993cb5 ps30595\" style=\"width:103.12pt\">analyse est alors conduite</span><span class=\"f charStyle-81993cb5 ps418\" style=\"width:1.87pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:153.6pt\">pour \u00e9valuer le transfert des risque</span><span class=\"f charStyle-165dec60 ps30596\" style=\"width:64.38pt\">s et avantages</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.82pt\">inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.91pt\">Si cet examen met en \u00e9vidence le transfert de la quasi-</span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:25.35pt\">totalit\u00e9</span><span class=\"f charStyle-165dec60 ps30599\" style=\"width:7.09pt\"> </span><span class=\"f charStyle-81f42323 ps4119\" style=\"width:185.49pt\">des risques et avantages, ces cr\u00e9ances sont</span><span class=\"f charStyle-81f42323 ps16299\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.63pt\">d\u00e9comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps30600\" style=\"width:7.33pt\"> </span><span class=\"f charStyle-49b0b1fa ps30601\" style=\"width:147pt\">de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:109.89pt\">consolid\u00e9e. Dans la situation</span><span class=\"f charStyle-165dec60 ps30602\" style=\"width:108.08pt\"> inverse, elles continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue pour</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:83.05pt\">le\u00a0montant escompt\u00e9.</span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Toutes les participations comptabilis\u00e9es selon la m\u00e9thode de la mise en \u00e9quivalence, qu\u2019il s\u2019agisse des coentreprises ou des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps2658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">entreprises associ\u00e9es, s\u2019inscrivent dans le prolongement de l\u2019activit\u00e9 op\u00e9rationnelle du Groupe et sont rattach\u00e9es \u00e0 l'un de ses</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">trois secteurs op\u00e9rationnels. Elles sont int\u00e9gr\u00e9es dans le reporting interne du Groupe au sens de la norme IFRS\u00a08 et leur</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps2660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:368.81pt\">performance op\u00e9rationnelle est suivie au niveau de chaque Division \u00e0 laquelle elles appartiennent.</span></div><div class=\"ps14152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">Les donn\u00e9es des entreprises associ\u00e9es et des coentreprises mises en \u00e9quivalence sont pr\u00e9sent\u00e9es de mani\u00e8re agr\u00e9g\u00e9e en raison</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps14155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:238.53pt\">du\u00a0caract\u00e8re individuellement non significatif de chaque entit\u00e9.</span></div><div class=\"ps30726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:307.39pt\">Le r\u00e9sultat op\u00e9rationnel inclut l\u2019ensemble des produits et des charges autres que\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps26855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:319.44pt\">les produits et charges d\u2019int\u00e9r\u00eats\u00a0constitutifs du Co\u00fbt de l'endettement financier net ;</span></div><div class=\"ps30727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:152.98pt\">les autres produits et charges financiers\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:100.37pt\">les imp\u00f4ts sur les r\u00e9sultats.</span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">Afin de faciliter la lecture du compte de r\u00e9sultat et de la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">performance du Groupe, les \u00e9l\u00e9ments inhabituels et</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:36.5pt\">significatif</span><span class=\"f charStyle-b5684510 ps17015\" style=\"width:181.46pt\">s \u00e0 l\u2019\u00e9chelle de l\u2019ensemble consolid\u00e9 sont identifi\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:52.75pt\">sur la ligne </span><span class=\"f charStyle-81f42323 ps30748\" style=\"width:165.22pt\">du r\u00e9sultat op\u00e9rationnel intitul\u00e9e \u00ab\u00a0Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:76.29pt\">produits et charges\u00a0\u00bb.</span></div><div class=\"ps30749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.12pt\">Cette ligne inclut principalement\u00a0:</span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">les plus ou moins-values et les frais de transactions et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:178.79pt\">li\u00e9s \u00e0 l\u2019\u00e9volution du p\u00e9rim\u00e8tre de consolidation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">les litiges majeurs qui ne naissent pas de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">op\u00e9rationnelle du Groupe (sont ainsi exclues les charges</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">relatives aux litiges li\u00e9s \u00e0 la qualit\u00e9 des produits vendus,</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:210.98pt\">aux clients, aux fournisseurs ou \u00e0 des pertes de contrat)\u00a0;</span></div><div class=\"ps30750 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:198.23pt\">les charges nettes li\u00e9es aux plans de restructuration\u00a0;</span></div><div class=\"ps15588 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">les pertes de valeur et reprises sur actifs immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">constat\u00e9es notamment dans le cadre des tests de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.04pt\">d\u00e9pr\u00e9ciations d</span><span class=\"f charStyle-49b0b1fa ps30751\" style=\"width:153.25pt\">es unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT)</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps15591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps26704\" style=\"width:23.92pt\">et des </span><span class=\"f charStyle-639cbf67 ps30752\" style=\"width:31.27pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30753\" style=\"width:1.47pt\">.</span></div><div class=\"ps4890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les avantages du personnel sont \u00e9valu\u00e9s conform\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">\u00e0 la norme IAS\u00a019. Ils se d\u00e9composent entre avantages \u00e0</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">court terme, avantages \u00e0 long terme et indemnit\u00e9s de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:71.73pt\">cessation d'emploi.</span></div><div class=\"ps9151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:217.98pt\">Les salari\u00e9s du Groupe b\u00e9n\u00e9ficient d\u2019avantages \u00e0 court</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps9153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:22.9pt\">terme</span><span class=\"f charStyle-165dec60 ps19662\" style=\"width:195.09pt\"> tels que les cong\u00e9s pay\u00e9s, cong\u00e9s maladie, primes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:40.22pt\">et autres </span><span class=\"f charStyle-8de4ecd0 ps12407\" style=\"width:177.72pt\">avantages (autres que les indemnit\u00e9s de fin de</span><span class=\"f charStyle-8de4ecd0 ps610\" style=\"width:1.63pt\"> </span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8de4ecd0 ps6588\" style=\"width:60.78pt\">contrat) payables<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5e2d7321 ps30812\" style=\"width:7.52pt\"> d</span><span class=\"f charStyle-165dec60 ps30813\" style=\"width:149.68pt\">ans les douze mois suivant la fin de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">p\u00e9riode pendant laquelle les salari\u00e9s ont rendu les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:92.45pt\">services correspondants.</span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.94pt\">Ces avantages sont comptabilis\u00e9s dans les dettes</span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:33.54pt\">courante<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30814\" style=\"width:184.39pt\">s et enregistr\u00e9s en charges sur l\u2019exercice lorsque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:122.94pt\">le service est rendu par le salari\u00e9.</span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:217.94pt\">Les avantages \u00e0 long terme couvrent deux cat\u00e9gories</span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:42.34pt\">d\u2019avantages</span><span class=\"f charStyle-165dec60 ps4205\" style=\"width:54.58pt\"> au personnel\u00a0:</span></div><div class=\"ps12299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.3pt\">les avantages post\u00e9rieurs \u00e0 l\u2019emploi qui incluent</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:44.15pt\">notamment</span><span class=\"f charStyle-165dec60 ps30817\" style=\"width:168.12pt\"> les indemnit\u00e9s de d\u00e9part \u00e0 la retraite, les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">compl\u00e9ments de retraite ainsi que la couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:210.76pt\">certains frais m\u00e9dicaux pour les retrait\u00e9s et pr\u00e9retrait\u00e9s\u00a0;</span></div><div class=\"ps30818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">les autres avantages \u00e0 long terme (pendant l\u2019emploi) qui</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30819 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:190.08pt\">recouvrent principalement les m\u00e9dailles du travail.</span></div><div class=\"ps4890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps448\" style=\"width:217.94pt\">Les diff\u00e9rents avantages offerts \u00e0 chaque employ\u00e9</span><span class=\"f charStyle-b5684510 ps16283\" style=\"width:1.8pt\"> </span></div><div class=\"ps4891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps448\" style=\"width:40.57pt\">d\u00e9pendent</span><span class=\"f charStyle-165dec60 ps30820\" style=\"width:177.38pt\"> des l\u00e9gislations locales, conventions ou</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:194.56pt\">accords en vigueur dans chaque soci\u00e9t\u00e9 du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps8200 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:188.42pt\">Ces avantages se caract\u00e9risent de deux mani\u00e8res\u00a0:</span></div><div class=\"ps8201 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps26704\" style=\"width:212.26pt\">les r\u00e9gimes dits \u00e0 cotisations d\u00e9finies qui ne sont pas</span><span class=\"f charStyle-42e3db84 ps16299\" style=\"width:1.82pt\"> </span></div><div class=\"ps8117 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps26704\" style=\"width:35.78pt\">porteurs </span><span class=\"f charStyle-165dec60 ps30821\" style=\"width:176.51pt\">d\u2019engagement futur puisque l\u2019obligation de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps8202 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">l\u2019employeur est limit\u00e9e au versement r\u00e9gulier de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">cotisations\u00a0; ils sont enregistr\u00e9s en charge sur la base</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:88.77pt\">des appels \u00e0 cotisation\u00a0;</span></div><div class=\"ps30822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.26pt\">les r\u00e9gimes dits \u00e0 prestations d\u00e9finies par lesquels<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16299\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:42.52pt\">l\u2019employeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30823\" style=\"width:169.78pt\"> garantit un niveau futur de prestations. Une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.96pt\">obligation (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps30825\" style=\"width:34.22pt\">Note 6.3</span><span class=\"f charStyle-165dec60 ps30826\" style=\"width:118.07pt\">, pages 406 \u00e0 411) est alors</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">comptabilis\u00e9e au passif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:38.99pt\">financi\u00e8re.</span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:79.08pt\">Comme indiqu\u00e9 en </span><span class=\"f charStyle-165dec60 ps30841\" style=\"width:32.14pt\">Note 6.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps12323\" style=\"width:106.76pt\">, page 405, les avantages \u00e0</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">long terme pour les plans \u00e0 prestations d\u00e9finies cr\u00e9ent<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">une obligation comptabilis\u00e9e en provision pour retraites<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:100.05pt\">et engagements assimil\u00e9s.<span class=\"f ps53\"> </span></span></div><div class=\"ps2106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">La provision pour retraites est \u00e9gale \u00e0 la valeur actualis\u00e9e</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.93pt\">des obligations diminu\u00e9e, le cas \u00e9ch\u00e9ant, de la juste</span><span class=\"f charStyle-b2f078f6 ps415\" style=\"width:1.83pt\"> </span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:26.39pt\">valeur\u00a0</span><span class=\"f charStyle-165dec60 ps30842\" style=\"width:191.55pt\">des actifs vers\u00e9s dans des fonds affect\u00e9s \u00e0 leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">financement. Un exc\u00e9dent d\u2019actif n\u2019est comptabilis\u00e9 que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.94pt\">dans la mesure o\u00f9 il repr\u00e9sente des avantages<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:50.72pt\">\u00e9conomiques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30843\" style=\"width:167.25pt\"> futurs qui sont effectivement disponibles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:58.01pt\">pour le Groupe.</span></div><div class=\"ps2113 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">La provision pour les autres avantages \u00e0 long terme est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">quant \u00e0 elle \u00e9gale \u00e0 la valeur actualis\u00e9e des obligations.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les co\u00fbts attendus de ces avantages sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">en charges de personnel tout au long de la p\u00e9riode</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:137.88pt\">d\u2019activit\u00e9 du salari\u00e9 dans l\u2019entreprise.</span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:217.96pt\">La d\u00e9termination de ces provisions repose sur des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps608\" style=\"width:1.76pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:40.76pt\">\u00e9valuations</span><span class=\"f charStyle-165dec60 ps30844\" style=\"width:5.63pt\"> </span><span class=\"f charStyle-5064d44f ps30845\" style=\"width:171.56pt\">effectu\u00e9es par des actuaires ind\u00e9pendants</span><span class=\"f charStyle-5064d44f ps425\" style=\"width:1.89pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:70.1pt\">selon la m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30846\" style=\"width:10.04pt\"> d</span><span class=\"f charStyle-5064d44f ps30847\" style=\"width:137.8pt\">es unit\u00e9s de cr\u00e9dit projet\u00e9es avec</span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:97.48pt\">salaire de fin de carri\u00e8re. </span><span class=\"f charStyle-165dec60 ps30848\" style=\"width:120.5pt\">Ces \u00e9valuations int\u00e8grent aussi</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps8856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bien des hypoth\u00e8ses macro\u00e9conomiques propres \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps8857 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">chaque pays dans lesquels le Groupe op\u00e8re (taux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps8858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019actualisation, croissance des salaires, \u00e9volution des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps8859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9penses de sant\u00e9) que d\u00e9mographiques (taux de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">rotation des effectifs, \u00e2ge de d\u00e9part en retraite, esp\u00e9rance</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:26.22pt\">de vie).</span></div><div class=\"ps8863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s par r\u00e9f\u00e9rence</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">aux rendements procur\u00e9s par les obligations \u00e9mises par</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:15.74pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps30849\" style=\"width:202.2pt\">entreprises de premi\u00e8re cat\u00e9gorie (not\u00e9es AA) sur des</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:21.88pt\">dur\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30850\" style=\"width:7.29pt\">s </span><span class=\"f charStyle-c709af45 ps30851\" style=\"width:188.79pt\">\u00e9quivalentes \u00e0 celles des engagements \u00e0 la date</span><span class=\"f charStyle-c709af45 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:44.89pt\">d\u2019\u00e9valuation</span><span class=\"f charStyle-165dec60 ps30852\" style=\"width:173.08pt\">. Dans les pays o\u00f9 le march\u00e9 des obligations</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.49pt\">d\u2019entreprises de </span><span class=\"f charStyle-4300c10f ps30853\" style=\"width:153.48pt\">haute qualit\u00e9 est insuffisamment profond,</span><span class=\"f charStyle-4300c10f ps16278\" style=\"width:1.73pt\"> </span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4300c10f ps448\" style=\"width:83.41pt\">les taux d\u2019actualisation</span><span class=\"f charStyle-165dec60 ps30854\" style=\"width:134.58pt\"> sont mesur\u00e9s en r\u00e9f\u00e9rence \u00e0 des</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:90.16pt\">taux gouvernementaux.</span></div><div class=\"ps2107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Des \u00e9carts actuariels sont g\u00e9n\u00e9r\u00e9s lorsque des diff\u00e9rences</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont constat\u00e9es entre les donn\u00e9es r\u00e9elles et les pr\u00e9visions</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">effectu\u00e9es ant\u00e9rieurement, ou suite \u00e0 des changements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u2019hypoth\u00e8ses actuarielles. Dans le cas d\u2019avantages \u00e0 long</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">terme pendant l\u2019emploi, les \u00e9carts actuariels sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">reconnus imm\u00e9diatement en r\u00e9sultat. En revanche, en ce</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">qui concerne les avantages post\u00e9rieurs \u00e0 l\u2019emploi, les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.51pt\">\u00e9carts a</span><span class=\"f charStyle-9206869b ps30855\" style=\"width:188.46pt\">ctuariels g\u00e9n\u00e9r\u00e9s sont comptabilis\u00e9s dans l\u2019\u00e9tat du</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:30.16pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps30856\" style=\"width:109.71pt\">global, nets d\u2019imp\u00f4ts diff\u00e9r\u00e9s.</span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les co\u00fbts des services pass\u00e9s, r\u00e9sultant de l\u2019adoption d\u2019un<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">nouveau r\u00e9gime, de la modification d\u2019un r\u00e9gime existant</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00e0 prestations d\u00e9finies, sont imm\u00e9diatement</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:96.22pt\">comptabilis\u00e9s en r\u00e9sultat.</span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La charge comptabilis\u00e9e au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.18pt\">comprend\u00a0:</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">les co\u00fbts des services rendus au cours de l\u2019exercice, le</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">co\u00fbt des services pass\u00e9s, les \u00e9carts actuariels sur les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:42.15pt\">avantages </span><span class=\"f charStyle-d77d7991 ps30857\" style=\"width:170.14pt\">\u00e0 long terme pendant l'emploi ainsi que les</span><span class=\"f charStyle-d77d7991 ps16295\" style=\"width:1.91pt\"> </span></div><div class=\"ps30858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps26704\" style=\"width:61.52pt\">\u00e9ventuels effets</span><span class=\"f charStyle-165dec60 ps4863\" style=\"width:150.78pt\"> de toute r\u00e9duction, modification ou</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps8860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:84.7pt\">liquidation de r\u00e9gime\u00a0;</span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps26704\" style=\"width:212.3pt\">la charge nette d\u2019int\u00e9r\u00eats comptabilis\u00e9e en r\u00e9sultat</span><span class=\"f charStyle-c709af45 ps29668\" style=\"width:1.87pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps26704\" style=\"width:32.06pt\">financier<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30860\" style=\"width:2.16pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-858f3e4c ps30861\" style=\"width:178.05pt\">sur les obligations (effet de d\u00e9sactualisation) et le</span><span class=\"f charStyle-858f3e4c ps16283\" style=\"width:1.81pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps26704\" style=\"width:41.45pt\">rendement</span><span class=\"f charStyle-165dec60 ps30862\" style=\"width:136.13pt\"> attendu sur les actifs de couverture.<span class=\"f ps53\"> </span></span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Certains salari\u00e9s du Groupe re\u00e7oivent une r\u00e9mun\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">en instruments de capitaux propres dont le paiement est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.48pt\">fond\u00e9 sur des actions.<span class=\"f ps53\"> </span></span></div><div class=\"ps31593 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Plans d\u2019actions gratuites<span id=\"ibdd3e5669aa54c3d94cf6f4e6021fc5a\"></span></span></div><div class=\"ps2633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La juste valeur de l\u2019avantage accord\u00e9 aux salari\u00e9s dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">cadre des plans d\u2019actions gratuites est estim\u00e9e sur la base<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">du cours de l\u2019action \u00e0 la date d\u2019attribution, en tenant</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2636 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">compte d\u2019une d\u00e9cote li\u00e9e aux dividendes non per\u00e7us sur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:8.39pt\">la </span><span class=\"f charStyle-42e3db84 ps31594\" style=\"width:113.02pt\">p\u00e9riode d\u2019acquisition des droits</span><span class=\"f charStyle-165dec60 ps31595\" style=\"width:1.59pt\">.</span></div><div class=\"ps6123 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">Pour les plans r\u00e9gl\u00e9s en instruments de capitaux propres,</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps6124 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.89pt\">la\u00a0charge globale du plan est calcul\u00e9e et fig\u00e9e \u00e0 la date</span><span class=\"f charStyle-81f42323 ps4098\" style=\"width:1.78pt\"> </span></div><div class=\"ps6125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">d\u2019attribution du plan. Le nombre d\u2019instruments que Valeo</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps2641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">s\u2019attend \u00e0 remettre aux b\u00e9n\u00e9ficiaires inclut l\u2019incidence li\u00e9e \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:200.87pt\">la rotation des populations concern\u00e9es par chaque plan.</span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:217.94pt\">L\u2019attribution finale \u00e9tant soumise \u00e0 une condition de</span><span class=\"f charStyle-bd02d35c ps16283\" style=\"width:1.76pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:41.44pt\">pr\u00e9sence, </span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.53pt\">cette charge de personnel est reconnue</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:80.25pt\">lin\u00e9airement sur la </span><span class=\"f charStyle-4afdd138 ps31597\" style=\"width:137.72pt\">p\u00e9riode d\u2019acquisition des droits en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:100.39pt\">contrepartie des capitaux </span><span class=\"f charStyle-165dec60 ps31598\" style=\"width:117.57pt\">propres. Le Groupe r\u00e9examine</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">p\u00e9riodiquement le nombre d\u2019actions gratuites \u00e0 remettre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">au regard d\u2019une non-atteinte partielle ou totale attendue<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">des crit\u00e8res de performance. Le cas \u00e9ch\u00e9ant, les</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">cons\u00e9quences de la r\u00e9vision des estimations sont</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">refl\u00e9t\u00e9es au compte de r\u00e9sultat. Le nombre d\u2019actions</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">gratuites attribuables en fonction du taux de rendement</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:19.54pt\">pour </span><span class=\"f charStyle-c709af45 ps31599\" style=\"width:65.21pt\">l\u2019actionnaire TSR (</span><span class=\"f charStyle-2faae11c ps31600\" style=\"width:93.79pt\">Total Shareholder Return</span><span class=\"f charStyle-c709af45 ps31601\" style=\"width:39.39pt\">) est quant</span><span class=\"f charStyle-c709af45 ps16299\" style=\"width:1.87pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:38.25pt\">\u00e0 lui fig\u00e9 </span><span class=\"f charStyle-165dec60 ps31602\" style=\"width:4.42pt\">\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps7700\" style=\"width:175.28pt\"> la date d\u2019approbation du plan par le Conseil</span><span class=\"f charStyle-49b0b1fa ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.7pt\">d\u2019administration.</span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">La prise en compte des actions gratuites dans le calcul</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:183.69pt\">du\u00a0r\u00e9sultat dilu\u00e9 par action est d\u00e9crite dans la </span><span class=\"f charStyle-165dec60 ps31603\" style=\"width:32.7pt\">Note 11.2</span><span class=\"f charStyle-165dec60 ps31604\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps7319 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.02pt\">page 447.</span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:458.64pt\">Les principaux dirigeants du Groupe incluent le Pr\u00e9sident du Conseil d'administration, le Directeur G\u00e9n\u00e9ral, les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:58.88pt\">administrateurs<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31691\" style=\"width:399.65pt\"> (les\u00a0mandataires sociaux) ainsi que les membres du Comit\u00e9 ex\u00e9cutif. Ce dernier Comit\u00e9 compte<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27008\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:161.09pt\">12\u00a0membres (dont le\u00a0Directeur G\u00e9n\u00e9ral) au </span><span class=\"f charStyle-165dec60 ps20253\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps31692\" style=\"width:1.59pt\">.</span></div><div class=\"ps2105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.55pt\">La r\u00e9mun\u00e9ration des mandataires sociaux est pr\u00e9sent\u00e9e dans le Chapitre 3 \u00ab\u00a0Gouvernement d\u2019entreprise\u00a0\u00bb du Document</span><span class=\"f charStyle-165dec60 ps30348\" style=\"width:1.96pt\"> </span></div><div class=\"ps2106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:103.59pt\">d\u2019enregistrement universel <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31693\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31694\" style=\"width:1.59pt\">.</span></div><div class=\"ps11949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.56pt\">Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31715\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31716\" style=\"width:311.21pt\"> sont initialement reconnus lors d\u2019un regroupement d\u2019entreprises tel que d\u00e9crit en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31717\" style=\"width:34.64pt\">Note 3.1.3</span><span class=\"f charStyle-165dec60 ps31718\" style=\"width:37.74pt\">, page 391.</span><span class=\"f charStyle-165dec60 ps31719\" style=\"width:1.96pt\"> </span></div><div class=\"ps6537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:458.57pt\">Post\u00e9rieurement \u00e0 leur comptabilisation initiale, ils ne sont pas amortis mais font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation d\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps29741\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31721 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:44.15pt\">l\u2019apparition <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31720\" style=\"width:414.49pt\">d\u2019indices de pertes de valeur et au minimum une fois par an. Les modalit\u00e9s des tests de d\u00e9pr\u00e9ciation r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps11953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.66pt\">sur </span><span class=\"f charStyle-165dec60 ps15725\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:63.98pt\"> sont d\u00e9crites en </span><span class=\"f charStyle-165dec60 ps31722\" style=\"width:31.27pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31723\" style=\"width:63.92pt\">, pages 419 \u00e0 422.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations incorporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:20.42pt\">sont <span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps31768\" style=\"width:197.52pt\">\u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Les immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:48.32pt\">incorporelles </span><span class=\"f charStyle-165dec60 ps31769\" style=\"width:169.62pt\">acquises dans le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u2019entreprises sont comptabilis\u00e9es \u00e0 leur juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:123.53pt\">s\u00e9par\u00e9ment du goodwill. </span><span class=\"f charStyle-01aaed4f ps31770\" style=\"width:94.46pt\">Post\u00e9rieurement \u00e0 la</span><span class=\"f charStyle-01aaed4f ps412\" style=\"width:1.71pt\"> </span></div><div class=\"ps31772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-01aaed4f ps6588\" style=\"width:164.36pt\">comptabilisation initiale, les immobilisations</span><span class=\"f charStyle-165dec60 ps31771\" style=\"width:53.61pt\"> incorporelles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt diminu\u00e9 du cumul des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">amortissements et des pertes de valeur constat\u00e9es. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">immobilisations incorporelles font l\u2019objet de tests de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14132 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span><span class=\"f charStyle-165dec60 ps31775\" style=\"width:1.96pt\"> </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:217.99pt\">Les frais de d\u00e9veloppement inscrits dans les autres</span><span class=\"f charStyle-4177ffd9 ps412\" style=\"width:1.65pt\"> </span></div><div class=\"ps4908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:55.63pt\">immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5409\" style=\"width:6.61pt\"> </span><span class=\"f charStyle-367d076b ps31776\" style=\"width:155.72pt\">incorporelles de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-367d076b ps608\" style=\"width:1.88pt\"> </span></div><div class=\"ps4909 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:104.84pt\">financi\u00e8re correspondent </span><span class=\"f charStyle-165dec60 ps31777\" style=\"width:113.12pt\">\u00e0 des projets d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sp\u00e9cifique pour les clients, qui reposent sur des standards</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies d\u00e9j\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">appliqu\u00e9es en production. Ces projets font l\u2019objet d\u2019une</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">analyse au cas par cas afin de s\u2019assurer qu\u2019ils r\u00e9pondent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:176.81pt\">bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s en </span><span class=\"f charStyle-165dec60 ps31778\" style=\"width:39.52pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps837\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:66.07pt\">pages 399 et 400.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais encourus avant la d\u00e9cision formelle d\u2019entrer dans</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">le d\u00e9veloppement du produit sont enregistr\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:38.37pt\">charges d<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps31779\" style=\"width:179.6pt\">e la p\u00e9riode. Les frais encourus post\u00e9rieurement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16278\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.75pt\">au d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps31780\" style=\"width:163.21pt\"> de la production en s\u00e9rie sont trait\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">comme des co\u00fbts de production.</span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:217.96pt\">Les immobilisations incorporelles sont amorties selon la</span><span class=\"f charStyle-5dca4c00 ps16295\" style=\"width:1.74pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:33.36pt\">m\u00e9thode</span><span class=\"f charStyle-c8069515 ps31781\" style=\"width:184.59pt\"> lin\u00e9aire, en fonction des dur\u00e9es d\u2019utilisation</span><span class=\"f charStyle-c8069515 ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:30.9pt\">pr\u00e9vues\u00a0</span><span class=\"f charStyle-165dec60 ps31782\" style=\"width:1.59pt\">:<span class=\"f ps53\"> </span></span></div><div class=\"ps31792 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1990 ws0 ps407\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:108.75pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1985\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">logiciels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31784 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"padding:0\"><div class=\"ps513 ss1986\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">brevets et licences</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31786 ss1987\"><div><div class=\"ps526 ss292\"><span class=\"f charStyle-a696f64a ps3599\">en fonction des dur\u00e9es <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss292\"><span class=\"f charStyle-a696f64a ps28484\">d\u2019utilisation ou de </span></div><div class=\"ps527 ss292\"><span class=\"f charStyle-a696f64a ps31785\">protection<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps12723 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">frais de d\u00e9veloppement </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31788 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31787\">4 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps25614 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">actifs repr\u00e9sentatifs des </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">relations clients acquises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31790 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31789\">au maximum 25 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps9353 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">autres immobilisations </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31791 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations corporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Ce co\u00fbt inclut les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9penses qui sont directement li\u00e9es \u00e0 l\u2019acquisition du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62pt\">bien et le co\u00fbt </span><span class=\"f charStyle-9206869b ps32002\" style=\"width:155.92pt\">estim\u00e9 de l\u2019obligation de remise en \u00e9tat</span><span class=\"f charStyle-9206869b ps410\" style=\"width:1.9pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.96pt\">d\u2019une partie de l\u2019actif le cas \u00e9ch\u00e9ant. Les immobilisations</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:77.79pt\">corporelles acquises</span><span class=\"f charStyle-165dec60 ps20531\" style=\"width:28.09pt\"> dans <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps12028\" style=\"width:112.1pt\">le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:131.54pt\">d\u2019entreprises sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32003\" style=\"width:86.42pt\"> \u00e0 leur juste valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:59.85pt\">s\u00e9par\u00e9ment du </span><span class=\"f charStyle-e8054d08 ps32004\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32005\" style=\"width:1.59pt\">.</span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.98pt\">Post\u00e9rieurement \u00e0 la comptabilisation initiale, les</span><span class=\"f charStyle-6e7624cd ps431\" style=\"width:1.72pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:53.26pt\">immobilisation</span><span class=\"f charStyle-4177ffd9 ps32006\" style=\"width:8.87pt\">s </span><span class=\"f charStyle-165dec60 ps32007\" style=\"width:155.84pt\">corporelles sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diminu\u00e9 du cumul des amortissements et des pertes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">de\u00a0valeur constat\u00e9es. Les r\u00e9\u00e9valuations significatives,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:118.35pt\">pratiqu\u00e9es conform\u00e9ment aux </span><span class=\"f charStyle-81f42323 ps32008\" style=\"width:99.63pt\">dispositions r\u00e9glementaires</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:117.76pt\">des pays dans lesquels le Group</span><span class=\"f charStyle-5064d44f ps32009\" style=\"width:7.18pt\">e <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32010\" style=\"width:93.01pt\">op\u00e8re, ont \u00e9t\u00e9 \u00e9limin\u00e9es</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">pour assurer l\u2019homog\u00e9n\u00e9it\u00e9 de l\u2019ensemble des valeurs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:138.04pt\">immobilis\u00e9es \u00e0 l\u2019int\u00e9rieur du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps7320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.98pt\">Les d\u00e9penses ult\u00e9rieures sur immobilisations sont</span><span class=\"f charStyle-5d6922b3 ps431\" style=\"width:1.66pt\"> </span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:52.7pt\">comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32011\" style=\"width:165.25pt\"> en charges lorsqu\u2019elles sont encourues,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">sauf celles engag\u00e9es pour prolonger la dur\u00e9e de vie du</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.28pt\">bien.</span></div><div class=\"ps4982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les immobilisations corporelles font l\u2019objet d\u2019un test de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span></div><div class=\"ps32012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dur\u00e9e et m\u00e9thode d\u2019amortissement<span class=\"f ps53\"> </span><span id=\"i01d151d0c943432c8366ce9cda96fc24\"></span></span></div><div class=\"ps2615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les immobilisations corporelles, \u00e0 l\u2019exception des terrains,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2617 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:217.99pt\">sont amorties, selon l\u2019approche par composant, sur leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps412\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:21.78pt\">dur\u00e9e</span><span class=\"f charStyle-165dec60 ps32013\" style=\"width:79.44pt\"> d\u2019utilisation estim\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps2654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.94pt\">Les amortissements sont calcul\u00e9s selon la m\u00e9thode</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:28.63pt\">lin\u00e9aire,</span><span class=\"f charStyle-165dec60 ps32014\" style=\"width:147.8pt\"> en fonction de ces dur\u00e9es d\u2019utilisation\u00a0:</span></div><div class=\"ps32021 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2004 ws0 ps16265\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:170.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:51.43pt\">constructions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32016 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32015\">20 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps513 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:147.6pt\">agencements et installations g\u00e9n\u00e9rales</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32017 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps16602\">8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps519 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:138.23pt\">mat\u00e9riels et \u00e9quipements industriels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32019 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32018\">8 \u00e0 15 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps10356 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:129.33pt\">autres immobilisations corporelles</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32020 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps10066\">3 \u00e0 8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Outillages<span class=\"f ps53\"> </span><span id=\"ica3c0187ffe3443986d615323c7979f8\"></span></span></div><div class=\"ps32023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">En fonction de leur nature, les outillages sp\u00e9cifiques \u00e0 un</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">projet font l\u2019objet d\u2019une analyse de la relation</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">contractuelle avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:49.8pt\">contr\u00f4le de </span><span class=\"f charStyle-5064d44f ps27682\" style=\"width:168.13pt\">l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-5064d44f ps16299\" style=\"width:1.89pt\"> </span></div><div class=\"ps32027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:63.87pt\">sont immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps17770\" style=\"width:154.06pt\"> dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps13338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:91.19pt\">Groupe lorsque ce </span><span class=\"f charStyle-9c680f66 ps32028\" style=\"width:126.79pt\">contr\u00f4le revient \u00e0 Valeo ou</span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:130.72pt\">comptabilis\u00e9s en stocks (jusqu\u2019au</span><span class=\"f charStyle-165dec60 ps32029\" style=\"width:87.22pt\"> transfert de contr\u00f4le)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.53pt\">dans le cas contraire.<span class=\"f ps53\"> </span></span></div><div class=\"ps27020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:217.96pt\">Les \u00e9ventuels financements re\u00e7us des clients sur les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:40.15pt\">outillages <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32032\" style=\"width:177.8pt\">immobilis\u00e9s sont comptabilis\u00e9s au passif de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">l\u2019\u00e9tat de la situation financi\u00e8re et sont rapport\u00e9s au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.07pt\">compte de r\u00e9sultat </span><span class=\"f charStyle-81f42323 ps32033\" style=\"width:139.89pt\">en chiffre d\u2019affaires au m\u00eame rythme</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.03pt\">que les amortissements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32035\" style=\"width:49.84pt\"> de ces biens.</span></div><div class=\"ps27024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les outillages sont amortis selon la m\u00e9thode lin\u00e9aire sur</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps27025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:2.01pt\">l</span><span class=\"f charStyle-b2f078f6 ps32037\" style=\"width:215.94pt\">eur dur\u00e9e d\u2019utilisation estim\u00e9e, soit quatre ans au</span><span class=\"f charStyle-b2f078f6 ps16281\" style=\"width:1.83pt\"> </span></div><div class=\"ps27026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:39.87pt\">maximum.</span></div><div class=\"ps32038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Cr\u00e9dits d\u2019imp\u00f4t<span id=\"i21fd0949f90e4fcbb7ca8ce38d28b671\"></span></span></div><div class=\"ps17818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:217.96pt\">Dans certains pays, l\u2019\u00c9tat peut contribuer \u00e0 l\u2019effort</span><span class=\"f charStyle-5d6922b3 ps16295\" style=\"width:1.66pt\"> </span></div><div class=\"ps17110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:60.58pt\">d\u2019investissement </span><span class=\"f charStyle-165dec60 ps32039\" style=\"width:157.37pt\">du Groupe sous forme de cr\u00e9dits d\u2019imp\u00f4t.</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Une analyse de l\u2019aide re\u00e7ue est effectu\u00e9e afin de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps32040 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">d\u00e9terminer si elle entre dans le champ d\u2019application de la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le r\u00e9sultat\u00a0\u00bb ou si elle doit \u00eatre</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">consid\u00e9r\u00e9e comme une subvention publique. Dans ce</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">dernier cas, le cr\u00e9dit d\u2019imp\u00f4t sera reconnu au r\u00e9sultat sur</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">la p\u00e9riode d\u2019amortissement des actifs sous-jacents</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:200.67pt\">comme une r\u00e9duction de la charge d\u2019amortissement.</span></div><div class=\"ps16277 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Contrats de location<span id=\"ib1b6a101f995466e83fe16d9fc13177c\"></span></span></div><div class=\"ps16279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Le preneur d\u2019un contrat de location entrant dans le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps16282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.47pt\">champ d'application de la norme IFRS 16 </span><span class=\"f charStyle-165dec60 ps32272\" style=\"width:7.07pt\">\u00ab </span><span class=\"f charStyle-165dec60 ps32273\" style=\"width:45.43pt\">Contrats de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7846 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.13pt\">location </span><span class=\"f charStyle-165dec60 ps17497\" style=\"width:3.57pt\">\u00bb<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps2684\" style=\"width:43.16pt\">, reconna\u00eet\u00a0:</span></div><div class=\"ps27722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">une dette financi\u00e8re repr\u00e9sentative de l\u2019obligation de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">payer ce droit au passif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:83.42pt\">financi\u00e8re consolid\u00e9e\u00a0;</span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">un actif non courant repr\u00e9sentatif du droit d\u2019utilisation du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:16.09pt\">bien</span><span class=\"f charStyle-81f42323 ps32274\" style=\"width:4.39pt\"> </span><span class=\"f charStyle-165dec60 ps32275\" style=\"width:191.76pt\">lou\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:44.06pt\">consolid\u00e9e\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">des dotations aux amortissements des droits</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019utilisation et des charges d\u2019int\u00e9r\u00eats sur les dettes de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.87pt\">location au compte de r\u00e9sultat consolid\u00e9.<span class=\"f ps53\"> </span></span></div><div class=\"ps32278 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dette sur biens lou\u00e9s<span id=\"ida15cfec94a24ee48d3868e3d88f44c5\"></span></span></div><div class=\"ps32279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">\u00c0 la date de prise d\u2019effet du contrat de location, la dette</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">sur biens lou\u00e9s est comptabilis\u00e9e pour un montant \u00e9gal \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la valeur actualis\u00e9e des paiements minimaux non encore</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps16300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">vers\u00e9s ainsi que des paiements li\u00e9s aux options que le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.43pt\">preneur a la certitude raisonnable d\u2019exercer.<span class=\"f ps53\"> </span></span></div><div class=\"ps32282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La dur\u00e9e du contrat retenue pour calculer la dette de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps32283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">location est d\u00e9termin\u00e9e suite \u00e0 l\u2019analyse \u00e9conomique des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">\u00e9ventuelles options de r\u00e9siliation anticip\u00e9e, d\u2019extension,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de renouvellement et d\u2019achat de l\u2019actif sous-jacent,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:167.6pt\">incluses dans la dur\u00e9e ex\u00e9cutoire du contrat.</span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Ce montant est ensuite \u00e9valu\u00e9 au co\u00fbt amorti en utilisant</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la m\u00e9thode du taux d\u2019int\u00e9r\u00eat effectif. Il est d\u2019une part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">augment\u00e9 pour prendre en compte les int\u00e9r\u00eats dus au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">titre du passif locatif et d\u2019autre part diminu\u00e9 des loyers</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:23.34pt\">pay\u00e9s.</span></div><div class=\"ps2760 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s \u00e0 partir du taux</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2761 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019endettement marginal du Groupe auquel est ajout\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.7pt\">une </span><span class=\"f charStyle-53279637 ps32284\" style=\"width:196.26pt\">marge pour tenir compte des environnements</span><span class=\"f charStyle-53279637 ps608\" style=\"width:1.85pt\"> </span></div><div class=\"ps2763 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32285\" style=\"width:167.67pt\"> sp\u00e9cifiques \u00e0 chaque pays, de la devise et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:85.26pt\">de la dur\u00e9e du contrat.</span></div><div class=\"ps32286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Droit d\u2019utilisation<span id=\"i08ce7ec2d6b0406b8b84eba8aeb01f18\"></span></span></div><div class=\"ps20022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00c0 la date de prise d\u2019effet du contrat de location, le droit</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps20023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">d\u2019utilisation est \u00e9valu\u00e9 \u00e0 son co\u00fbt et comprend (i) le montant</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">initial de la dette auquel sont ajout\u00e9s, s\u2019il y a lieu, (ii) les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">paiements d\u2019avance faits au loueur, nets le cas \u00e9ch\u00e9ant,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps16181 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des avantages re\u00e7us du bailleur, (iii) les co\u00fbts directs</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20029 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initiaux encourus par le preneur pour la conclusion du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps20030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">contrat ainsi que (iv) l\u2019estimation des co\u00fbts de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9mant\u00e8lement ou de remise en \u00e9tat du bien lou\u00e9 selon</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.99pt\">les termes du contrat.</span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Ce montant est ensuite diminu\u00e9 des amortissements et</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20.98pt\">des p</span><span class=\"f charStyle-c709af45 ps32287\" style=\"width:196.97pt\">ertes de valeur constat\u00e9s. Les droits d\u2019utilisation sont</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:28.15pt\">amortis</span><span class=\"f charStyle-165dec60 ps32288\" style=\"width:189.84pt\"> selon la m\u00e9thode lin\u00e9aire. Les agencements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">indissociables des biens lou\u00e9s sont amortis sur la dur\u00e9e la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">plus courte entre la dur\u00e9e du contrat retenue et la dur\u00e9e</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.48pt\">d\u2019utilisation estim\u00e9e.</span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Lorsque le contrat a pour effet de transf\u00e9rer au preneur la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.08pt\">pr</span><span class=\"f charStyle-4afdd138 ps32289\" style=\"width:209.9pt\">opri\u00e9t\u00e9 du bien ou lorsqu\u2019il comprend une option</span><span class=\"f charStyle-4afdd138 ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:27.42pt\">d\u2019achat</span><span class=\"f charStyle-165dec60 ps20602\" style=\"width:190.54pt\">, qui sera exerc\u00e9e avec une certitude raisonnable,</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.55pt\">le droit </span><span class=\"f charStyle-81f42323 ps32290\" style=\"width:188.41pt\">d\u2019utilisation est amorti sur la dur\u00e9e d\u2019utilit\u00e9 de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:38.41pt\">sous-jacen</span><span class=\"f charStyle-165dec60 ps32291\" style=\"width:179.54pt\">t selon les m\u00eames conditions que celles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.02pt\">appliqu\u00e9es aux actifs d</span><span class=\"f charStyle-4afdd138 ps32292\" style=\"width:128.95pt\">\u00e9tenus en propre. Dans les autres</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:105.46pt\">cas, les droits d\u2019utilisation</span><span class=\"f charStyle-165dec60 ps32293\" style=\"width:5.98pt\"> </span><span class=\"f charStyle-c8069515 ps32294\" style=\"width:106.48pt\">sont amortis sur la dur\u00e9e</span><span class=\"f charStyle-c8069515 ps16293\" style=\"width:1.84pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:146.66pt\">d\u2019utilisation raisonnablement certaine</span><span class=\"f charStyle-165dec60 ps32295\" style=\"width:71.32pt\"> des actifs sous-</span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.58pt\">jacents.</span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.99pt\">Par la suite, la dette et le droit d\u2019utilisation de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps2269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:40.97pt\">sous\u2011jacent</span><span class=\"f charStyle-4afdd138 ps32296\" style=\"width:11.47pt\"> d</span><span class=\"f charStyle-367d076b ps32297\" style=\"width:165.5pt\">oivent \u00eatre r\u00e9-estim\u00e9s pour prendre en</span><span class=\"f charStyle-367d076b ps16283\" style=\"width:1.88pt\"> </span></div><div class=\"ps2271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:75.03pt\">compte les situation</span><span class=\"f charStyle-165dec60 ps32298\" style=\"width:44.66pt\">s suivantes\u00a0:</span></div><div class=\"ps2344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:128.78pt\">la r\u00e9vision de la dur\u00e9e de location\u00a0;</span></div><div class=\"ps6665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">toute modification li\u00e9e \u00e0 l\u2019\u00e9valuation du caract\u00e8re</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:70.22pt\">raisonnablement </span><span class=\"f charStyle-73c14ed6 ps32299\" style=\"width:142.09pt\">certain (ou non) de l\u2019exercice d\u2019une</span><span class=\"f charStyle-73c14ed6 ps29662\" style=\"width:1.75pt\"> </span></div><div class=\"ps6431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps26704\" style=\"width:26.47pt\">option\u00a0;</span></div><div class=\"ps6731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:190.18pt\">la r\u00e9-estimation des garanties de valeur r\u00e9siduelle\u00a0;</span></div><div class=\"ps2432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">la r\u00e9vision des taux ou indices sur lesquels sont bas\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2433 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:37.67pt\">les\u00a0loyers ;</span></div><div class=\"ps32300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-7cdc335a ps448\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\">les modifications des montants de loyers.</span></div><div class=\"ps18521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les principales exemptions pr\u00e9vues par la norme et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:158.05pt\">retenues par le Groupe sont les suivantes\u00a0:</span></div><div class=\"ps18435 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:149.33pt\">exclusion des contrats de courte dur\u00e9e\u00a0;</span></div><div class=\"ps18522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps448\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.29pt\">exclusion des contrats portant sur des actifs de faible</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps18437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:23.39pt\">valeur.</span></div><div class=\"ps6619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les loyers relatifs aux contrats de location exclus du</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">champ d'application de la norme IFRS 16 ainsi que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">paiements variables, non pris en compte lors de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">l\u2019\u00e9valuation initiale de la dette, sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps6742 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">charges op\u00e9rationnelles et sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:129.27pt\">nets de tr\u00e9sorerie des activit\u00e9s </span><span class=\"f charStyle-5dca4c00 ps32302\" style=\"width:88.68pt\">op\u00e9rationnelles, dans le</span><span class=\"f charStyle-5dca4c00 ps16281\" style=\"width:1.74pt\"> </span></div><div class=\"ps6744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:141.43pt\">tableau des flux de tr\u00e9sorerie consolid\u00e9s</span><span class=\"f charStyle-165dec60 ps32303\" style=\"width:1.59pt\">.</span></div><div class=\"ps9286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les paiements relatifs aux contrats de location entrants<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">dans le champ d'application de la norme IFRS 16 sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">ventil\u00e9s entre la charge financi\u00e8re et le remboursement</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.36pt\">du principal </span><span class=\"f charStyle-81993cb5 ps7158\" style=\"width:170.59pt\">du passif locatif. Ils sont reconnus dans les flux</span><span class=\"f charStyle-81993cb5 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps21273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:52.64pt\">sur op\u00e9rations</span><span class=\"f charStyle-165dec60 ps14962\" style=\"width:165.35pt\"> de financement, dans le tableau des flux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">tr\u00e9sorerie consolid\u00e9s. La part relative au remboursement</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">du principal du passif locatif est r\u00e9int\u00e9gr\u00e9e dans la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.49pt\">d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps32304\" style=\"width:35.83pt\">cash flow</span><span class=\"f charStyle-165dec60 ps32305\" style=\"width:20.18pt\"> libre.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les immobilisations incorporelles et corporelles ayant une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.96pt\">dur\u00e9e d\u2019utilit\u00e9 d\u00e9termin\u00e9e font l\u2019objet de tests de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps608\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:45.53pt\">d\u00e9pr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps32396\" style=\"width:172.39pt\"> d\u00e8s lors qu\u2019il existe des indices objectifs de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:90.28pt\">perte de valeur. Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps32397\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32398\" style=\"width:95.48pt\"> et les immobilisations</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">incorporelles non encore pr\u00eates \u00e0 \u00eatre mises en service</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">font l\u2019objet de tests de d\u00e9pr\u00e9ciation d\u00e8s l\u2019apparition</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.89pt\">d\u2019indices de perte de valeur et en tout \u00e9tat de cause au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.95pt\">minimum une fois par an.<span class=\"f ps53\"> </span></span></div><div class=\"ps32400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie et <span id=\"iee563d9935cf4586a0d65c650a508101\"></span></span><span class=\"f charStyle-77ede7ab ps32399\">goodwill</span></div><div class=\"ps32401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT) sont des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32403 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:31.23pt\">entit\u00e9s </span><span class=\"f charStyle-49b0b1fa ps32402\" style=\"width:186.73pt\">op\u00e9rationnelles g\u00e9n\u00e9rant des flux de tr\u00e9sorerie</span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> </span></div><div class=\"ps32405 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:62.15pt\">ind\u00e9pendants. </span><span class=\"f charStyle-56831d77 ps32404\" style=\"width:155.8pt\">Dans l\u2019organisation du Groupe, elles<span class=\"f ps53\"> </span></span><span class=\"f charStyle-56831d77 ps425\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps28150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps6588\" style=\"width:105.63pt\">correspondent g\u00e9n\u00e9ralemen</span><span class=\"f charStyle-165dec60 ps32406\" style=\"width:112.32pt\">t \u00e0 des regroupements de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps21258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sites de production appartenant \u00e0 une m\u00eame Ligne de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Produits, au m\u00eame Groupe de Produits ou \u00e0 la m\u00eame<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.27pt\">Op\u00e9ration R\u00e9gionale. Au </span><span class=\"f charStyle-165dec60 ps32407\" style=\"width:69.08pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32408\" style=\"width:52.6pt\">, les UGT sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12039 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.13pt\">au nombre de 19.</span></div><div class=\"ps13986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.95pt\">C\u2019est \u00e0 ce niveau que l\u2019ensemble des immobilisations</span><span class=\"f charStyle-5d6922b3 ps425\" style=\"width:1.66pt\"> </span></div><div class=\"ps13987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:41.26pt\">incorporelle</span><span class=\"f charStyle-165dec60 ps20276\" style=\"width:176.67pt\">s et corporelles est test\u00e9, en cas d\u2019indice de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">perte de valeur, \u00e0 l\u2019exception des immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:106.77pt\">incorporelles et corporelles </span><span class=\"f charStyle-81f42323 ps32409\" style=\"width:111.21pt\">inutilis\u00e9es qui font l\u2019objet d\u2019un</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps13990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:114.41pt\">test de d\u00e9pr\u00e9ciation sp\u00e9cifique.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13598\" style=\"width:103.57pt\"> La survenance de facteurs</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13991 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">d\u00e9favorables d\u2019une significativit\u00e9 particuli\u00e8re et durable<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32410 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">pour le Groupe, tels que notamment la d\u00e9gradation de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32411 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">l\u2019environnement \u00e9conomique d\u2019un pays, d\u2019une usine ou</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps26638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de l\u2019existence de litiges contractuels, peut conduire le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps26639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Groupe \u00e0 r\u00e9examiner la valeur d\u2019utilit\u00e9 des actifs affect\u00e9s</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">et \u00e0 reconnaitre une d\u00e9pr\u00e9ciation \u00e0 caract\u00e8re</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:146.4pt\">exceptionnel pour certains d\u2019entre eux.<span class=\"f ps53\"> </span></span></div><div class=\"ps32415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.66pt\">Les </span><span class=\"f charStyle-e8054d08 ps32413\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32414\" style=\"width:171.07pt\"> sont test\u00e9s au niveau des Divisions telles que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:68.28pt\">d\u00e9finies dans la </span><span class=\"f charStyle-165dec60 ps32416\" style=\"width:28.04pt\">Note 4</span><span class=\"f charStyle-165dec60 ps32417\" style=\"width:121.57pt\">, pages 393 \u00e0 395,\u00a0 relative \u00e0</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps21545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">l\u2019information sectorielle. Les Divisions correspondent \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des regroupements d\u2019UGT qui repr\u00e9sentent les niveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps21549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.9pt\">auxquels les </span><span class=\"f charStyle-e8054d08 ps32418\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5232\" style=\"width:95.48pt\"> sont suivis par le Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:15.14pt\">Les </span><span class=\"f charStyle-e8054d08 ps32419\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps26810\" style=\"width:170.62pt\"> font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation annuel</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">en fin d\u2019ann\u00e9e suivant la m\u00eame m\u00e9thode et les m\u00eames</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">hypoth\u00e8ses que celles retenues pour les UGT, telles que</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:73.04pt\">d\u00e9crites ci-dessous.</span></div><div class=\"ps32420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Test de d\u00e9pr\u00e9ciation<span id=\"ic9a3c56f230342709fdd88eb6c299abe\"></span></span></div><div class=\"ps21302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Le test de d\u00e9pr\u00e9ciation consiste \u00e0 comparer la valeur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps19237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.97pt\">recouvrable d\u2019un actif immobilis\u00e9 \u00e0 sa valeur nette</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps20381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:40.82pt\">comptable.</span><span class=\"f charStyle-165dec60 ps32421\" style=\"width:2.58pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps32422\" style=\"width:174.52pt\">Si la valeur comptable est sup\u00e9rieure \u00e0 la valeur</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps32424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:44.02pt\">recouvrable,</span><span class=\"f charStyle-165dec60 ps32423\" style=\"width:173.95pt\"> l\u2019actif correspondant est ramen\u00e9 \u00e0 sa valeur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps32425 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">recouvrable. La valeur recouvrable d\u2019un actif ou d\u2019un</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">groupe d\u2019actifs est la valeur la plus \u00e9lev\u00e9e entre sa juste</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps15259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:210.05pt\">valeur diminu\u00e9e des co\u00fbts de sortie et sa valeur d\u2019utilit\u00e9.</span></div><div class=\"ps19245 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La juste valeur diminu\u00e9e des co\u00fbts de sortie est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9termin\u00e9e sur la base des informations disponibles</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps6633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">permettant de r\u00e9aliser la meilleure estimation de la valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">de vente nette des co\u00fbts n\u00e9cessaires pour r\u00e9aliser la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">vente, dans des conditions de concurrence normale entre</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:163.66pt\">des parties bien inform\u00e9es et consentantes.</span></div><div class=\"ps6637 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">La valeur d\u2019utilit\u00e9 correspond \u00e0 la valeur actuelle des flux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">de tr\u00e9sorerie futurs que l\u2019on esp\u00e8re obtenir d\u2019un actif ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">d\u2019un groupe d\u2019actifs, en tenant compte de sa valeur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps6640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:37.99pt\">r\u00e9siduelle.</span></div><div class=\"ps6641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:103.35pt\">Pour les tests d\u2019UGT et de </span><span class=\"f charStyle-e8054d08 ps32428\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32429\" style=\"width:82.4pt\">, compte tenu du fait</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">qu\u2019il existe rarement une base fiable pour \u00e9valuer la juste</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">valeur diminu\u00e9e des co\u00fbts de sortie d\u2019un groupe d\u2019actifs</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">du Groupe, Valeo utilise, sauf indication contraire, la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">valeur d\u2019utilit\u00e9 pour d\u00e9terminer la valeur recouvrable d\u2019un</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:106.22pt\">actif ou d\u2019un groupe d\u2019actifs.<span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:125.78pt\">La valeur d\u2019utilit\u00e9 des UGT et des </span><span class=\"f charStyle-e8054d08 ps32430\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32431\" style=\"width:59.9pt\"> est d\u00e9termin\u00e9e</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.56pt\">selon la m\u00e9thode suivante\u00a0:</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les projections \u00e0 cinq ans des flux de tr\u00e9sorerie apr\u00e8s</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">imp\u00f4ts, \u00e9tablies \u00e0 partir des plans \u00e0 moyen terme</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">pr\u00e9par\u00e9s par les entit\u00e9s du Groupe et approuv\u00e9s par la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">Direction G\u00e9n\u00e9rale et le Conseil d\u2019Administration, sont</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:45.09pt\">actualis\u00e9es\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2113 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">au-del\u00e0 de ces cinq ann\u00e9es, les flux futurs de tr\u00e9sorerie \u00e0</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">perp\u00e9tuit\u00e9 sont extrapol\u00e9s \u00e0 partir d\u2019un taux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">croissance \u00e0 l\u2019infini appliqu\u00e9 sur la pr\u00e9vision de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">tr\u00e9sorerie normative, qui correspond \u00e0 celle de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:138.43pt\">derni\u00e8re ann\u00e9e du plan moyen </span><span class=\"f charStyle-9c680f66 ps32432\" style=\"width:73.86pt\">terme, retrait\u00e9e si</span><span class=\"f charStyle-9c680f66 ps16295\" style=\"width:1.93pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps26704\" style=\"width:152.34pt\">n\u00e9cessaire des \u00e9l\u00e9ments non r\u00e9currents\u00a0;</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">l\u2019actualisation des flux de tr\u00e9sorerie est effectu\u00e9e selon</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">un taux qui refl\u00e8te l\u2019appr\u00e9ciation courante du march\u00e9</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">de la valeur temps de l\u2019argent et des risques sp\u00e9cifiques</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">\u00e0 l\u2019actif (ou groupe d\u2019actifs). Ce taux correspond au co\u00fbt</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps8857 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">moyen pond\u00e9r\u00e9 du capital (WACC) apr\u00e8s imp\u00f4ts.</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps8858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:64.67pt\">L\u2019utilisation d\u2019un </span><span class=\"f charStyle-81f42323 ps32433\" style=\"width:147.65pt\">taux apr\u00e8s imp\u00f4ts appliqu\u00e9 \u00e0 des flux de</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps8859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:67.99pt\">tr\u00e9sorerie fiscalis\u00e9s</span><span class=\"f charStyle-165dec60 ps32434\" style=\"width:3.05pt\"> </span><span class=\"f charStyle-367d076b ps32435\" style=\"width:141.25pt\">aboutit \u00e0 la d\u00e9termination de valeurs</span><span class=\"f charStyle-367d076b ps16295\" style=\"width:1.88pt\"> </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps26704\" style=\"width:80.45pt\">recouvrables similaire</span><span class=\"f charStyle-81f42323 ps32436\" style=\"width:3.48pt\">s</span><span class=\"f charStyle-165dec60 ps32437\" style=\"width:128.36pt\"> \u00e0 celles obtenues en utilisant des</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:207.63pt\">taux avant imp\u00f4ts \u00e0 des flux de tr\u00e9sorerie non fiscalis\u00e9s.</span></div><div class=\"ps8863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:217.95pt\">Dans certaines circonstances o\u00f9 l'application de cette</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:34.27pt\">m\u00e9thode</span><span class=\"f charStyle-165dec60 ps32438\" style=\"width:183.66pt\"> n'est pas appropri\u00e9e pour d\u00e9terminer la valeur</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:108.97pt\">d'utilit\u00e9 d'une UGT ou d'un </span><span class=\"f charStyle-e8054d08 ps32439\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32440\" style=\"width:76.73pt\">, des projections de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">flux de tr\u00e9sorerie au-del\u00e0 de cinq ans peuvent \u00eatre</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">utilis\u00e9es. Cela peut \u00eatre le cas pour des march\u00e9s en forte</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps20017 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">croissance qui ne seront pas matures en fin de plan ainsi</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps20019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">que pour les activit\u00e9s avec un horizon de temps fini.</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps16317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque cette m\u00e9thode est appliqu\u00e9e, le plan d'affaires</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps20020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">au-del\u00e0 de cinq ans est \u00e9tabli \u00e0 partir des donn\u00e9es de</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps20021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:123.25pt\">march\u00e9 les plus fiables possibles.</span><span class=\"f charStyle-165dec60 ps32441\" style=\"width:1.96pt\"> </span></div><div class=\"ps22328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Les contrats de location dans le champ d'application de la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps22330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IFRS 16 \u00ab\u00a0Contrats de location\u00a0\u00bb sont trait\u00e9s de la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.85pt\">mani\u00e8re suivante\u00a0:</span></div><div class=\"ps8880 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a33a3989 ps448\" style=\"width:2.61pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps26704\" style=\"width:212.27pt\">les capitaux employ\u00e9s test\u00e9s incluent les droits</span><span class=\"f charStyle-5064d44f ps16283\" style=\"width:1.89pt\"> </span></div><div class=\"ps8881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps26704\" style=\"width:46.18pt\">d\u2019utilisation ;</span></div><div class=\"ps12430 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">le co\u00fbt moyen pond\u00e9r\u00e9 du capital (WACC) apr\u00e8s imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">est d\u00e9termin\u00e9 en tenant compte des dettes sur biens</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps12432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:21.53pt\">lou\u00e9s.</span></div><div class=\"ps32444 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.73pt\">Une perte de valeur comptabilis\u00e9e au titre d\u2019un </span><span class=\"f charStyle-e8054d08 ps32443\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32445 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.67pt\">ne peut \u00eatre reprise.</span></div><div class=\"ps26610 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:184.16pt\">Une perte de valeur, sur un actif autre qu\u2019un </span><span class=\"f charStyle-e8054d08 ps32446\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31604\" style=\"width:1.59pt\">,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32447 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">peut \u00eatre reprise s\u2019il existe des indices que la perte de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:31.6pt\">valeur a </span><span class=\"f charStyle-1abed7d4 ps32448\" style=\"width:186.3pt\">diminu\u00e9 ou n\u2019existe plus. Le montant de la reprise</span><span class=\"f charStyle-1abed7d4 ps29741\" style=\"width:1.93pt\"> </span></div><div class=\"ps30672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps448\" style=\"width:41.65pt\">\u00e9ventuelle </span><span class=\"f charStyle-165dec60 ps32450\" style=\"width:176.33pt\">est alors bas\u00e9 sur les nouvelles estimations de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur recouvrable. La valeur comptable d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">augment\u00e9e en raison de la reprise d\u2019une perte de valeur</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">ne peut \u00eatre sup\u00e9rieure \u00e0 la valeur comptable qui aurait</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">\u00e9t\u00e9 d\u00e9termin\u00e9e si aucune perte de valeur n\u2019avait \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:54.83pt\">comptabilis\u00e9e.</span></div><span class=\"f charStyle-b11f9a65 ps29285\">Immobilisations incorporelles et\u00a0corporelles (hors </span><span class=\"f charStyle-b8a0a0c4 ps32504\">goodwill</span><span class=\"f charStyle-b11f9a65 ps32505\">)</span><div class=\"ps661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:229.26pt\">Le p\u00e9rim\u00e8tre des tests de d\u00e9pr\u00e9ciation sur les unit\u00e9s</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:49.18pt\">g\u00e9n\u00e9ratrices </span><span class=\"f charStyle-73c14ed6 ps32507\" style=\"width:180.11pt\">de tr\u00e9sorerie (UGT) est compos\u00e9 d\u2019une part des</span><span class=\"f charStyle-73c14ed6 ps425\" style=\"width:1.75pt\"> </span></div><div class=\"ps666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps275\" style=\"width:80.93pt\">UGT ayant fait l\u2019objet</span><span class=\"f charStyle-165dec60 ps32508\" style=\"width:148.34pt\"> d\u2019une d\u00e9pr\u00e9ciation lors des cl\u00f4tures</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:111.78pt\">pr\u00e9c\u00e9dentes et demeurant </span><span class=\"f charStyle-42e3db84 ps32509\" style=\"width:117.52pt\">sensibles aux crit\u00e8res \u00e9nonc\u00e9s</span><span class=\"f charStyle-42e3db84 ps608\" style=\"width:1.82pt\"> </span></div><div class=\"ps669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:28.36pt\">dans la </span><span class=\"f charStyle-42e3db84 ps32510\" style=\"width:36.13pt\">Note 7.4.3</span><span class=\"f charStyle-42e3db84 ps32511\" style=\"width:36.07pt\">, page 421</span><span class=\"f charStyle-81f42323 ps32512\" style=\"width:128.71pt\"> et d\u2019autre part des UGT pr\u00e9sentant</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps670 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:101.66pt\">un indice de perte de valeur.</span><span class=\"f charStyle-81f42323 ps32513\" style=\"width:1.78pt\"> </span></div><div class=\"ps9674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les principaux indices de perte de valeur retenus par le</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.14pt\">Groupe</span><span class=\"f charStyle-53279637 ps32514\" style=\"width:201.12pt\"> dans le cadre des tests de d\u00e9pr\u00e9ciation sur les unit\u00e9s</span><span class=\"f charStyle-53279637 ps410\" style=\"width:1.85pt\"> </span></div><div class=\"ps673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:42.27pt\">g\u00e9n\u00e9ratrice</span><span class=\"f charStyle-165dec60 ps32515\" style=\"width:187.02pt\">s de tr\u00e9sorerie (UGT) sont une marge</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:113.47pt\">op\u00e9rationnelle n\u00e9gative en\u00a0</span><span class=\"f charStyle-165dec60 ps32516\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32517\" style=\"width:98.13pt\">, une chute des ventes</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:93.83pt\">sup\u00e9rieure \u00e0 20 % entre </span><span class=\"f charStyle-165dec60 ps32518\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32519\" style=\"width:2.68pt\"> </span><span class=\"f charStyle-c709af45 ps32520\" style=\"width:9.98pt\">et\u00a0</span><span class=\"f charStyle-c709af45 ps32521\" style=\"width:17.34pt\">2025</span><span class=\"f charStyle-c709af45 ps32522\" style=\"width:87pt\"> ou un retard r\u00e9current</span><span class=\"f charStyle-c709af45 ps429\" style=\"width:1.87pt\"> </span></div><div class=\"ps676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps275\" style=\"width:143.96pt\">significatif par rapport aux objectifs </span><span class=\"f charStyle-49b0b1fa ps32523\" style=\"width:85.35pt\">fix\u00e9s dans les plans \u00e0</span><span class=\"f charStyle-49b0b1fa ps418\" style=\"width:1.84pt\"> </span></div><div class=\"ps677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:179.93pt\">moyen terme. Toute UGT en forte croissance d</span><span class=\"f charStyle-165dec60 ps5629\" style=\"width:49.34pt\">ont la valeur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps678 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">d'utilit\u00e9 est substantiellement sup\u00e9rieure \u00e0 ses capitaux</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:157.1pt\">employ\u00e9s est exclue du p\u00e9rim\u00e8tre de test.</span><span class=\"f charStyle-165dec60 ps32524\" style=\"width:1.96pt\"> </span></div><div class=\"ps661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">Ces \u00e9l\u00e9ments pris en consid\u00e9ration, six UGT ont fait l\u2019objet</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:107.61pt\">d\u2019un test de d\u00e9pr\u00e9ciation au </span><span class=\"f charStyle-165dec60 ps32525\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps32526\" style=\"width:3.55pt\"> :</span></div><div class=\"ps15376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a7e38484 ps929\" style=\"width:2.35pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-8de4ecd0 ps930\" style=\"width:222.24pt\">l'Op\u00e9ration R\u00e9gionale Thermal Europe, rattach\u00e9e \u00e0 la Division</span><span class=\"f charStyle-8de4ecd0 ps450\" style=\"width:1.63pt\"> </span></div><div class=\"ps15377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8de4ecd0 ps930\" style=\"width:31.67pt\">POWER ;</span></div><div class=\"ps32527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">l'Op\u00e9ration R\u00e9gionale Drive Am\u00e9riques, rattach\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps32529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:62.1pt\">Division POWER</span><span class=\"f charStyle-e8054d08 ps32528\" style=\"width:3.55pt\"> ;</span></div><div class=\"ps2390 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-0bb91e39 ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps930\" style=\"width:222.22pt\">l'Op\u00e9ration R\u00e9gionale Thermal Am\u00e9riques, rattach\u00e9e \u00e0 la</span><span class=\"f charStyle-42e3db84 ps460\" style=\"width:1.82pt\"> </span></div><div class=\"ps32532 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps930\" style=\"width:30.41pt\">Division </span><span class=\"f charStyle-165dec60 ps32530\" style=\"width:30.43pt\">POWER</span><span class=\"f charStyle-e8054d08 ps32531\" style=\"width:3.55pt\"> ;</span></div><div class=\"ps2395 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps930\" style=\"width:165.21pt\">la Ligne de Produits Connect, rattach\u00e9e</span><span class=\"f charStyle-165dec60 ps32533\" style=\"width:57pt\"> \u00e0 la Division</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2396 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:24.79pt\">BRAIN</span><span class=\"f charStyle-9c680f66 ps32534\" style=\"width:3.49pt\">\u00a0;</span></div><div class=\"ps2397 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps930\" style=\"width:222.22pt\">l\u2019activit\u00e9 Commandes sous volant, rattach\u00e9e \u00e0 la Division</span><span class=\"f charStyle-53279637 ps460\" style=\"width:1.85pt\"> </span></div><div class=\"ps32536 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps930\" style=\"width:24.24pt\">BRAIN</span><span class=\"f charStyle-165dec60 ps32535\" style=\"width:1.59pt\">;</span></div><div class=\"ps32537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">la Ligne de Produits Sp\u00e9ciaux - Syst\u00e8mes d'\u00c9clairage,</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps32538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:109.11pt\">rattach\u00e9e \u00e0 la Division LIGHT.</span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:140.31pt\">Une provision est constitu\u00e9e lorsque\u00a0:</span></div><div class=\"ps15280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">le Groupe a une obligation juridique, contractuelle ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:33.32pt\">implicite <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32779\" style=\"width:124.68pt\">r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9\u00a0;</span></div><div class=\"ps9256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps3285\" style=\"width:212.32pt\">il est probable qu\u2019une sortie de ressources repr\u00e9sentatives</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">d\u2019avantages \u00e9conomiques sera n\u00e9cessaire pour \u00e9teindre</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:45.32pt\">l\u2019obligation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77a4558 ps6588\" style=\"width:2.52pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps3285\" style=\"width:212.28pt\">le montant de l\u2019obligation peut \u00eatre estim\u00e9 de mani\u00e8re</span><span class=\"f charStyle-b5684510 ps425\" style=\"width:1.8pt\"> </span></div><div class=\"ps32781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps3285\" style=\"width:21.06pt\">fiable.<span class=\"f ps53\"> </span></span></div><div class=\"ps29271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:217.99pt\">Les provisions sont \u00e9valu\u00e9es en application de la norme</span><span class=\"f charStyle-49b0b1fa ps412\" style=\"width:1.84pt\"> </span></div><div class=\"ps29273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:32.77pt\">IAS\u00a037 </span><span class=\"f charStyle-165dec60 ps32782\" style=\"width:185.17pt\">en tenant compte des hypoth\u00e8ses les plus</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29275 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:113.02pt\">probables \u00e0 la date de cl\u00f4ture.</span></div><div class=\"ps32783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Des provisions pour garantie clients sont constitu\u00e9es pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">couvrir le co\u00fbt estim\u00e9 des retours des produits vendus.</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:5.01pt\">E</span><span class=\"f charStyle-49b068b5 ps32785\" style=\"width:212.93pt\">lles se d\u00e9composent en provisions statistiques et</span><span class=\"f charStyle-49b068b5 ps610\" style=\"width:1.86pt\"> </span></div><div class=\"ps29282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps6588\" style=\"width:36.95pt\">provisions</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:181.01pt\"> pour risques de qualit\u00e9 sp\u00e9cifiques. Les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">provisions pour garantie statistiques couvrent les risques</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">li\u00e9s aux engagements de garantie contractuels. Le calcul<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:129.67pt\">de la provision s\u2019appuie \u00e0 la <span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps17956\" style=\"width:88.26pt\">fois sur des donn\u00e9es</span><span class=\"f charStyle-d96cb356 ps415\" style=\"width:1.92pt\"> </span></div><div class=\"ps26775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:150.15pt\">historiques et des calculs de probabilit\u00e9.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32787\" style=\"width:67.81pt\"> La provision pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps26778 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">risques de qualit\u00e9 sp\u00e9cifiques couvre les co\u00fbts li\u00e9s \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.45pt\">situations ponctuelles exc\u00e9dant </span><span class=\"f charStyle-53279637 ps32788\" style=\"width:59.54pt\">le cadre de la </span><span class=\"f charStyle-dd2d44ff ps32789\" style=\"width:29.94pt\">garantie</span><span class=\"f charStyle-dd2d44ff ps415\" style=\"width:1.75pt\"> </span></div><div class=\"ps26780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps6588\" style=\"width:217.98pt\">normale. Les charges correspondantes sont enregistr\u00e9es</span><span class=\"f charStyle-dd2d44ff ps431\" style=\"width:1.75pt\"> </span></div><div class=\"ps26781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:89.36pt\">dans le co\u00fbt des ventes.<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les engagements r\u00e9sultant de plans de restructuration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont comptabilis\u00e9s lorsque des plans d\u00e9taill\u00e9s ont \u00e9t\u00e9<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9tablis et qu\u2019un commencement de mise en \u0153uvre ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.4pt\">une annonce </span><span class=\"f charStyle-9206869b ps32792\" style=\"width:158.58pt\">ont cr\u00e9\u00e9 une attente fond\u00e9e chez les</span><span class=\"f charStyle-9206869b ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:85.12pt\">personnes concern\u00e9es.</span></div><div class=\"ps15284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.94pt\">Une provision pour contrat d\u00e9ficitaire est comptabilis\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:26.76pt\">lorsque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32793\" style=\"width:5.66pt\"> l</span><span class=\"f charStyle-4afdd138 ps18636\" style=\"width:185.53pt\">es avantages \u00e9conomiques attendus du contrat</span><span class=\"f charStyle-4afdd138 ps16281\" style=\"width:1.9pt\"> </span></div><div class=\"ps15286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:51.14pt\">par le Groupe<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32794\" style=\"width:166.82pt\"> sont inf\u00e9rieurs aux co\u00fbts in\u00e9vitables devant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre engag\u00e9s pour satisfaire aux obligations</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.08pt\">contractuelles.</span><span class=\"f charStyle-165dec60 ps16078\" style=\"width:1.96pt\"> </span></div><div class=\"ps32795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.96pt\">Les provisions comprennent \u00e9galement des provisions</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:34.49pt\">destin\u00e9es</span><span class=\"f charStyle-165dec60 ps21333\" style=\"width:183.47pt\"> \u00e0 faire face \u00e0 des risques et litiges de nature</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.98pt\">commerciale, fiscale et sociale notamment li\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:45.69pt\">l\u2019exploitation</span><span class=\"f charStyle-165dec60 ps10966\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps32798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Lorsque le Groupe s\u2019attend \u00e0 ce que la totalit\u00e9 ou une</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">partie de la d\u00e9pense n\u00e9cessaire \u00e0 l'extinction d'une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.65pt\">provision soit rembours\u00e9e,</span><span class=\"f charStyle-367d076b ps32800\" style=\"width:117.31pt\"> ce remboursement donne lieu</span><span class=\"f charStyle-367d076b ps16295\" style=\"width:1.88pt\"> </span></div><div class=\"ps32802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:217.92pt\">\u00e0 la comptabilisation d\u2019une cr\u00e9ance distincte d\u00e8s lors que</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:93pt\">celui-ci est quasi-certain.</span><span class=\"f charStyle-165dec60 ps32803\" style=\"width:1.96pt\"> </span></div><div class=\"ps15300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les provisions dont l\u2019\u00e9ch\u00e9ance est sup\u00e9rieure \u00e0 un an ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps15301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">dont l\u2019\u00e9ch\u00e9ance n\u2019est pas fix\u00e9e de mani\u00e8re pr\u00e9cise sont</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps15302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:197.97pt\">class\u00e9es en \u00ab\u00a0Autres provisions - part \u00e0 plus d'un an\u00a0\u00bb.</span></div><div class=\"ps2117 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:292.22pt\">Par opposition \u00e0 la d\u00e9finition ci-dessus d'une provision, un passif \u00e9ventuel est\u00a0:</span></div><div class=\"ps625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.28pt\">une obligation potentielle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 dont l\u2019existence ne sera confirm\u00e9e que par la survenance<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32951\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:293.12pt\">ou\u00a0non d\u2019un \u00e9v\u00e9nement incertain qui n\u2019est pas sous le contr\u00f4le du Groupe\u00a0; ou</span></div><div class=\"ps628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.31pt\">une obligation actuelle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 pour lequel soit le montant de l\u2019obligation ne peut \u00eatre estim\u00e9</span><span class=\"f charStyle-165dec60 ps14071\" style=\"width:1.96pt\"> </span></div><div class=\"ps629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.2pt\">de\u00a0mani\u00e8re fiable ou soit il n\u2019est pas probable qu\u2019une sortie de ressources repr\u00e9sentatives d\u2019avantages \u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32952\" style=\"width:1.96pt\"> </span></div><div class=\"ps638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:156.05pt\">sera\u00a0n\u00e9cessaire pour \u00e9teindre l\u2019obligation.</span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les actifs et passifs financiers se composent</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:147pt\">principalement des \u00e9l\u00e9ments suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">les dettes financi\u00e8res \u00e0 long terme, les financements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:57.19pt\">court terme <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps32976\" style=\"width:155.12pt\">ainsi que les concours bancaires qui<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps431\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:97.56pt\">composent l\u2019endettement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4056\" style=\"width:76.04pt\"> financier brut (cf. </span><span class=\"f charStyle-165dec60 ps32978\" style=\"width:37.1pt\">Note 9.1.2</span><span class=\"f charStyle-165dec60 ps11627\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:64.61pt\">pages 427 \u00e0 431)\u00a0;</span></div><div class=\"ps13948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:149.68pt\">les pr\u00eats et cr\u00e9ances \u00e0 long terme\u00a0(cf.\u00a0</span><span class=\"f charStyle-81f42323 ps32981\" style=\"width:39.02pt\">Note 9.1.3.1</span><span class=\"f charStyle-81f42323 ps32982\" style=\"width:23.54pt\">, page</span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> </span></div><div class=\"ps13950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:18.35pt\">432)\u00a0;</span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:169.12pt\">la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie (cf. </span><span class=\"f charStyle-165dec60 ps32983\" style=\"width:41.61pt\">Note 9.1.3.2</span><span class=\"f charStyle-165dec60 ps32984\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:40.55pt\">page 432)\u00a0;</span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. </span><span class=\"f charStyle-165dec60 ps32985\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps32986\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps13942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les autres actifs et passifs financiers courants et non</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps13944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:47.88pt\">courants (cf. </span><span class=\"f charStyle-165dec60 ps32987\" style=\"width:35pt\">Note 9.1.5</span><span class=\"f charStyle-165dec60 ps32988\" style=\"width:42.45pt\">, page 439).</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:458.56pt\">L\u2019endettement financier brut comprend les dettes financi\u00e8res \u00e0 long terme, les financements court terme et les concours<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps27007\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:37.2pt\">bancaires.<span class=\"f ps53\"> </span></span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Ce poste inclut principalement les emprunts obligataires,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.9pt\">les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps33323\" style=\"width:204.09pt\">placements priv\u00e9s, les emprunts contract\u00e9s aupr\u00e8s de</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.88pt\">la\u00a0Banque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33325\" style=\"width:5.28pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps33326\" style=\"width:172.82pt\">europ\u00e9enne d'investissement, les dettes sur</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:88.43pt\">biens lou\u00e9s et les autres </span><span class=\"f charStyle-165dec60 ps33328\" style=\"width:38.96pt\">emprunts.</span><span class=\"f charStyle-165dec60 ps33329\" style=\"width:1.96pt\"> </span></div><div class=\"ps33331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les emprunts sont \u00e9valu\u00e9s au co\u00fbt amorti. Le montant</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.49pt\">des i</span><span class=\"f charStyle-c8069515 ps33332\" style=\"width:196.45pt\">nt\u00e9r\u00eats comptabilis\u00e9s en charges financi\u00e8res est</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:38.66pt\">d\u00e9termin\u00e9</span><span class=\"f charStyle-165dec60 ps5623\" style=\"width:179.29pt\"> par application du taux d\u2019int\u00e9r\u00eat effectif de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">l\u2019emprunt \u00e0 sa valeur comptable. La diff\u00e9rence entre la</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps8503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.91pt\">charge calcul\u00e9e \u00e0 </span><span class=\"f charStyle-9206869b ps33336\" style=\"width:143.06pt\">partir du taux d\u2019int\u00e9r\u00eat effectif et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps418\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:91.05pt\">coupon impacte la valeu</span><span class=\"f charStyle-165dec60 ps33337\" style=\"width:46.73pt\">r de la dette.</span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.97pt\">Lorsqu\u2019un emprunt \u00e0 taux fixe est d\u00e9sign\u00e9 en tant</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:42.77pt\">qu\u2019\u00e9l\u00e9ment</span><span class=\"f charStyle-165dec60 ps33339\" style=\"width:175.19pt\"> couvert dans une relation de couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.74pt\">juste valeur, sa v</span><span class=\"f charStyle-9206869b ps33340\" style=\"width:150.2pt\">aleur comptable est ajust\u00e9e \u00e0 chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:80.95pt\">cl\u00f4ture de la variation</span><span class=\"f charStyle-165dec60 ps4123\" style=\"width:136.97pt\"> de juste valeur imputable au risque</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps33341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.18pt\">couvert.</span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les dettes sur biens lou\u00e9s sont \u00e9valu\u00e9es conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:84.43pt\">au descriptif fourni en </span><span class=\"f charStyle-165dec60 ps33342\" style=\"width:30.54pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps11863\" style=\"width:61.31pt\">, pages 416 \u00e0 418</span><span class=\"f charStyle-165dec60 ps33343\" style=\"width:1.59pt\">.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:135.64pt\">Ce poste inclut essentiellement les </span><span class=\"f charStyle-e8054d08 ps33904\" style=\"width:82.3pt\">Negotiable European</span><span class=\"f charStyle-e8054d08 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a702cc9d ps6588\" style=\"width:115.78pt\">Commercial Paper (NEU CP)</span><span class=\"f charStyle-81f42323 ps33906\" style=\"width:102.19pt\">, anciennement billets de</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:35.61pt\">tr\u00e9sorerie,</span><span class=\"f charStyle-165dec60 ps33908\" style=\"width:3.09pt\"> </span><span class=\"f charStyle-05bafb21 ps33909\" style=\"width:179.21pt\">\u00e9mis par Valeo pour se financer \u00e0 court terme. Ils</span><span class=\"f charStyle-05bafb21 ps444\" style=\"width:1.68pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:65.4pt\">ont une maturit\u00e9</span><span class=\"f charStyle-165dec60 ps17794\" style=\"width:152.5pt\"> comprise entre 1 et 12 mois et sont</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps33912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:87.3pt\">\u00e9valu\u00e9s au co\u00fbt amorti.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Afin de refl\u00e9ter les besoins en tr\u00e9sorerie du Groupe, les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">financements court terme sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">nets de tr\u00e9sorerie sur op\u00e9rations de financement dans le</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.3pt\">Tableau des flux de tr\u00e9sorerie consolid\u00e9s.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.6pt\">L\u2019endettement financier net comprend l\u2019ensemble des dettes financi\u00e8res \u00e0 long terme, les financements \u00e0 court terme et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:102.59pt\">les concours bancaires (cf. </span><span class=\"f charStyle-165dec60 ps33926\" style=\"width:41.53pt\">Note 9.1.2.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33927\" style=\"width:314.46pt\">, page 431), sous d\u00e9duction du montant des pr\u00eats et autres actifs financiers \u00e0 long</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">terme, de la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie, ainsi que la juste valeur des instruments d\u00e9riv\u00e9s sur risque de change<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:209.36pt\">et sur risque de\u00a0taux associ\u00e9s \u00e0 l\u2019un de ces \u00e9l\u00e9ments (cf. </span><span class=\"f charStyle-165dec60 ps33928\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps33929\" style=\"width:68.06pt\">, pages 433 \u00e0 438).</span></div><div class=\"ps33996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Cette cat\u00e9gorie regroupe essentiellement les pr\u00eats \u00e0 long terme. Ils sont \u00e9valu\u00e9s selon la m\u00e9thode du co\u00fbt amorti</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps33997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">en\u00a0utilisant le taux d\u2019int\u00e9r\u00eat effectif. Ils figurent dans l\u2019\u00e9tat de la situation financi\u00e8re, sur la ligne \u00ab\u00a0Autres actifs financiers</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33998 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.07pt\">non courants\u00a0\u00bb.</span></div><div class=\"ps6626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">Ce poste est constitu\u00e9 de valeurs mobili\u00e8res de placement (de type OPCVM mon\u00e9taire et mon\u00e9taire court terme), de d\u00e9p\u00f4ts et</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:245.98pt\">placements sans risque \u00e0 tr\u00e8s court terme facilement mobilisables</span><span class=\"f charStyle-165dec60 ps34001\" style=\"width:235.3pt\"> ou cessibles ainsi que de liquidit\u00e9s sur des comptes courants</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38pt\">bancaires.</span></div><div class=\"ps5587 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:253.2pt\">Les \u00e9l\u00e9ments inclus dans ce poste sont qualifi\u00e9s d\u2019\u00e9quivalents de </span><span class=\"f charStyle-79bb7869 ps34004\" style=\"width:227.99pt\">tr\u00e9sorerie, car ils sont facilement convertibles en un montant</span><span class=\"f charStyle-79bb7869 ps1121\" style=\"width:1.79pt\"> </span></div><div class=\"ps34007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:23.25pt\">connu</span><span class=\"f charStyle-c709af45 ps34005\" style=\"width:3.66pt\"> </span><span class=\"f charStyle-165dec60 ps13790\" style=\"width:252.9pt\">de tr\u00e9sorerie, tout en \u00e9tant soumis \u00e0 un risque n\u00e9gligeable de </span><span class=\"f charStyle-79bb7869 ps34006\" style=\"width:201.52pt\">changement de valeur. Ces actifs financiers courants,</span><span class=\"f charStyle-79bb7869 ps639\" style=\"width:1.79pt\"> </span></div><div class=\"ps12079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:50.16pt\">comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34008\" style=\"width:420.15pt\"> \u00e0 la juste valeur par le r\u00e9sultat, sont d\u00e9tenus dans l\u2019optique de faire face aux besoins de tr\u00e9sorerie \u00e0 court terme.</span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span><span class=\"f charStyle-165dec60 ps34106\" style=\"width:1.96pt\"> </span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:86.54pt\">inf\u00e9rieures \u00e0 trois mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:408.8pt\">La charge d\u2019imp\u00f4ts sur les r\u00e9sultats comprend l\u2019imp\u00f4t exigible et les imp\u00f4ts diff\u00e9r\u00e9s des soci\u00e9t\u00e9s consolid\u00e9es.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34942\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Les imp\u00f4ts relatifs aux \u00e9l\u00e9ments reconnus directement en autres \u00e9l\u00e9ments du r\u00e9sultat global sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps15281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:259.42pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global et non dans le compte de r\u00e9sultat.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34943\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps29596\" style=\"width:47.25pt\">Depuis le 1</span><span class=\"f charStyle-a820d4aa ps34944\" style=\"width:4.85pt\"><span class=\"f ps53\"> </span><sup>er</sup></span><span class=\"f charStyle-d96cb356 ps30755\" style=\"width:406.4pt\"> janvier 2024, le Groupe est soumis aux \u00ab\u00a0R\u00e8gles globales de lutte contre l'\u00e9rosion de la base<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps30536\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:52.15pt\">d'imposition\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps34945\" style=\"width:406.5pt\"> (dites \u00ab\u00a0R\u00e8gles GloBE\u00a0\u00bb) qui pr\u00e9voient une imposition minimale de 15\u00a0% dans chacune des juridictions dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:54.57pt\">lequel il op\u00e8re.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34946\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.94pt\">Les imp\u00f4ts diff\u00e9r\u00e9s sont calcul\u00e9s selon l\u2019approche</span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:36.06pt\">bilantielle<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35062\" style=\"width:181.93pt\"> de la m\u00e9thode du report variable pour toutes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">les diff\u00e9rences temporelles provenant de la diff\u00e9rence</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">entre la base fiscale et la base comptable des actifs et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.71pt\">passifs, ainsi que pour les pertes fiscales reportables.</span><span class=\"f charStyle-165dec60 ps35063\" style=\"width:1.96pt\"> </span></div><div class=\"ps35064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les principales diff\u00e9rences temporelles sont li\u00e9es aux</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:30.2pt\">d\u00e9ficits </span><span class=\"f charStyle-42e3db84 ps35065\" style=\"width:187.74pt\">reportables, aux provisions pour retraites et autres</span><span class=\"f charStyle-42e3db84 ps610\" style=\"width:1.82pt\"> </span></div><div class=\"ps35069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:33.97pt\">avantage</span><span class=\"f charStyle-165dec60 ps35067\" style=\"width:11.48pt\">s a</span><span class=\"f charStyle-5dca4c00 ps35068\" style=\"width:172.51pt\">ssimil\u00e9s, aux autres provisions temporairement</span><span class=\"f charStyle-5dca4c00 ps608\" style=\"width:1.74pt\"> </span></div><div class=\"ps35072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps6588\" style=\"width:64.58pt\">non d\u00e9ductibles</span><span class=\"f charStyle-165dec60 ps35070\" style=\"width:8.76pt\"> </span><span class=\"f charStyle-9206869b ps35071\" style=\"width:144.62pt\">fiscalement ainsi qu\u2019aux frais de</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps35074 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:108.12pt\">d\u00e9veloppement immobilis\u00e9s.</span><span class=\"f charStyle-165dec60 ps35073\" style=\"width:109.85pt\"> Les actifs et passifs d\u2019imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35075 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diff\u00e9r\u00e9s sont calcul\u00e9s en utilisant les taux d\u2019imp\u00f4ts vot\u00e9s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17525 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ou quasi adopt\u00e9s qui seront en vigueur au moment du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.46pt\">renversement des diff\u00e9rences temporelles.<span class=\"f ps53\"> </span></span></div><div class=\"ps30879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s ne sont comptabilis\u00e9s que</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17528 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">dans la mesure o\u00f9 il est probable que Valeo disposera de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps17529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">b\u00e9n\u00e9fices futurs imposables sur lesquels ces actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17531 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">pourront \u00eatre imput\u00e9s. Les perspectives de r\u00e9cup\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35077 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:49.85pt\">des imp\u00f4ts d</span><span class=\"f charStyle-9206869b ps35076\" style=\"width:168.09pt\">iff\u00e9r\u00e9s actifs sont revues p\u00e9riodiquement par<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:48.51pt\">entit\u00e9 fiscale</span><span class=\"f charStyle-165dec60 ps35078\" style=\"width:169.41pt\"> et peuvent, le cas \u00e9ch\u00e9ant, conduire \u00e0 ne</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps35080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">plus reconna\u00eetre des imp\u00f4ts diff\u00e9r\u00e9s actifs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35082 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.57pt\">ant\u00e9rieurement constat\u00e9s. Ces </span><span class=\"f charStyle-81f42323 ps35081\" style=\"width:67.41pt\">perspectives de</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps29365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:184.05pt\">r\u00e9cup\u00e9ration sont analys\u00e9es selon la m\u00e9thode</span><span class=\"f charStyle-165dec60 ps35083\" style=\"width:33.9pt\"> la plus</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">appropri\u00e9e au vu de l\u2019organisation juridique et fiscale de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps35084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9, de son historique fiscal et de ses perspectives de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:98.11pt\">revenu imposable projet\u00e9.</span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Chaque entit\u00e9 ou groupe d\u2019int\u00e9gration fiscale \u00e9value</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">chaque ann\u00e9e le caract\u00e8re recouvrable de ses d\u00e9ficits</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">fiscaux reportables en se basant sur les projections \u00e0</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:50.36pt\">cinq\u00a0ans des </span><span class=\"f charStyle-81f42323 ps5728\" style=\"width:167.58pt\">r\u00e9sultats fiscaux attendus, \u00e9tablies \u00e0 partir des</span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> </span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:57.21pt\">plans \u00e0 moyen </span><span class=\"f charStyle-165dec60 ps35086\" style=\"width:160.71pt\">terme pr\u00e9par\u00e9s par les entit\u00e9s du Groupe</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">et approuv\u00e9s par la Direction G\u00e9n\u00e9rale. En situation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.78pt\">d\u2019imp\u00f4t diff\u00e9r\u00e9 actif net, </span><span class=\"f charStyle-42e3db84 ps35087\" style=\"width:115.15pt\">la reconnaissance des d\u00e9ficits</span><span class=\"f charStyle-42e3db84 ps16299\" style=\"width:1.82pt\"> </span></div><div class=\"ps30871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:125.59pt\">fiscaux reportables comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps35088\" style=\"width:92.37pt\"> reconnus au bilan est</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">g\u00e9n\u00e9ralement limit\u00e9e \u00e0 une p\u00e9riode d\u2019un maximum de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17523 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:176.87pt\">cinq\u00a0ans. Les imp\u00f4ts \u00e0 payer et les cr\u00e9dits </span><span class=\"f charStyle-5064d44f ps29312\" style=\"width:41.04pt\">d\u2019imp\u00f4ts \u00e0</span><span class=\"f charStyle-5064d44f ps13258\" style=\"width:1.89pt\"> </span></div><div class=\"ps17524 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:190.55pt\">recevoir sur les distributions de dividendes pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps35089\" style=\"width:27.44pt\"> par les</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps35090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">soci\u00e9t\u00e9s du Groupe sont enregistr\u00e9s au compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.33pt\">r\u00e9sultat.</span><span class=\"f charStyle-165dec60 ps35091\" style=\"width:1.96pt\"> </span></div><div class=\"ps17527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">Les actifs et passifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s sont compens\u00e9s</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps35094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:28.56pt\">lorsqu\u2019il</span><span class=\"f charStyle-165dec60 ps35093\" style=\"width:189.41pt\"> existe un droit juridiquement ex\u00e9cutoire de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">compenser les actifs et passifs d\u2019imp\u00f4ts exigibles et que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:71.77pt\">les actifs et passifs </span><span class=\"f charStyle-81f42323 ps35096\" style=\"width:146.22pt\">d\u2019imp\u00f4ts diff\u00e9r\u00e9s concernent des imp\u00f4ts</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps35099 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:85.79pt\">sur le r\u00e9sultat pr\u00e9lev\u00e9s</span><span class=\"f charStyle-165dec60 ps35098\" style=\"width:132.19pt\"> par la m\u00eame autorit\u00e9 fiscale. En</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">France, Valeo a opt\u00e9 pour le r\u00e9gime de l\u2019int\u00e9gration</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">fiscale. Le Groupe int\u00e9gr\u00e9 comprend la soci\u00e9t\u00e9 m\u00e8re et</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">ses principales filiales fran\u00e7aises \u00e9ligibles \u00e0 ce r\u00e9gime. Le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">groupe Valeo a \u00e9galement opt\u00e9 pour des r\u00e9gimes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019int\u00e9gration fiscale (ou assimil\u00e9s) pour ses filiales</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps18000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">implant\u00e9es dans des pays dont la l\u00e9gislation offre cette</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps18002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:217.99pt\">possibilit\u00e9 (Allemagne, Espagne, Royaume-Uni et</span><span class=\"f charStyle-53279637 ps16296\" style=\"width:1.85pt\"> </span></div><div class=\"ps18003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:37.31pt\">\u00c9tats\u2011Unis</span><span class=\"f charStyle-165dec60 ps35102\" style=\"width:4.05pt\">).</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:69.45pt\">Le r\u00e9sultat net de <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35310\" style=\"width:34.56pt\">l'exercice<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35311\" style=\"width:113.98pt\"> par action (avant dilution) est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.91pt\">calcul\u00e9 en faisant le rapport entre le r\u00e9sultat net et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:29.25pt\">nombre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps543\" style=\"width:10pt\"> m</span><span class=\"f charStyle-81f42323 ps4924\" style=\"width:178.7pt\">oyen pond\u00e9r\u00e9 d\u2019actions en circulation au cours de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:32.76pt\">l'exercice</span><span class=\"f charStyle-81f42323 ps26863\" style=\"width:1.41pt\">,</span><span class=\"f charStyle-165dec60 ps35312\" style=\"width:183.77pt\"> apr\u00e8s d\u00e9duction du nombre moyen d\u2019actions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:54.27pt\">autod\u00e9tenues.</span><span class=\"f charStyle-165dec60 ps35313\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:68.53pt\">Le r\u00e9sultat net de </span><span class=\"f charStyle-165dec60 ps35314\" style=\"width:34.56pt\">l'exercice</span><span class=\"f charStyle-165dec60 ps35315\" style=\"width:114.81pt\"> dilu\u00e9 par action est calcul\u00e9 en</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps9633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">faisant le rapport entre le r\u00e9sultat net et le nombre</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">moyen pond\u00e9r\u00e9 d\u2019actions ordinaires en circulation major\u00e9</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">du nombre moyen pond\u00e9r\u00e9 d\u2019actions ordinaires qui</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">auraient \u00e9t\u00e9 en circulation dans l\u2019hypoth\u00e8se d\u2019une</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">conversion de toutes les actions ordinaires potentielles<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.03pt\">dilutives.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:217.98pt\">Les options d\u2019achat et les actions gratuites ont un effet<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:21.52pt\">dilutif</span><span class=\"f charStyle-165dec60 ps35316\" style=\"width:196.38pt\"> d\u00e8s lors que leur prix d\u2019exercice est inf\u00e9rieur au prix</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">du march\u00e9. Cette m\u00e9thode dite du \u00ab\u00a0rachat d\u2019actions\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">permet de d\u00e9terminer les actions \u00ab\u00a0non rachet\u00e9es\u00a0\u00bb qui</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.18pt\">viennent </span><span class=\"f charStyle-81f42323 ps35317\" style=\"width:180.8pt\">s\u2019ajouter aux actions ordinaires en circulation et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.81pt\">qui constituent<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35318\" style=\"width:67.15pt\"> ainsi l\u2019effet dilutif.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35319\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:11.89pt\">Le </span><span class=\"f charStyle-e8054d08 ps35416\" style=\"width:36.82pt\">cash flow</span><span class=\"f charStyle-165dec60 ps35417\" style=\"width:169.28pt\"> libre correspond aux flux nets de tr\u00e9sorerie<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des activit\u00e9s op\u00e9rationnelles, apr\u00e8s neutralisation de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.82pt\">variation <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34008\" style=\"width:179.15pt\">des cessions de cr\u00e9ances commerciales non</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.92pt\">r\u00e9currentes et apr\u00e8s prise en compte des acquisitions et</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:96.87pt\">cessions d\u2019immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35418\" style=\"width:121.09pt\"> incorporelles et corporelles, de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:107.25pt\">la part consid\u00e9r\u00e9e comme r</span><span class=\"f charStyle-73c14ed6 ps35419\" style=\"width:110.7pt\">emboursement du capital des</span><span class=\"f charStyle-73c14ed6 ps425\" style=\"width:1.75pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.94pt\">paiements locatifs et des int\u00e9r\u00eats financiers nets. Cet<span class=\"f ps53\"> </span></span><span class=\"f charStyle-73c14ed6 ps610\" style=\"width:1.75pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:36.32pt\">indicateur</span><span class=\"f charStyle-4afdd138 ps35420\" style=\"width:86.58pt\">, qui traduit la capacit\u00e9</span><span class=\"f charStyle-165dec60 ps35421\" style=\"width:95.03pt\"> du Groupe \u00e0 g\u00e9n\u00e9rer de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la tr\u00e9sorerie par ses activit\u00e9s op\u00e9rationnelles, est pris en</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">compte par la Direction G\u00e9n\u00e9rale pour d\u00e9finir sa strat\u00e9gie<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.01pt\">d'investissement et sa politique de financement.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:11.16pt\">Le <span class=\"f ps53\"> </span></span><span class=\"f charStyle-824bd408 ps35422\" style=\"width:35.73pt\">cash flow</span><span class=\"f charStyle-4afdd138 ps35423\" style=\"width:73.6pt\"> net correspond au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-824bd408 ps35424\" style=\"width:35.73pt\">cash flow<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps35425\" style=\"width:61.72pt\"> libre apr\u00e8s prise<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.97pt\">en compte (i) des flux d\u2019investissements relatifs aux</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:44.2pt\">acquisitions</span><span class=\"f charStyle-165dec60 ps21322\" style=\"width:173.76pt\"> et cessions de participations et \u00e0 la variation</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.94pt\">de certains \u00e9l\u00e9ments inscrits en actifs financiers non</span><span class=\"f charStyle-2c17c7c1 ps16283\" style=\"width:1.94pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.95pt\">courants, (ii) des flux sur op\u00e9rations de financement</span><span class=\"f charStyle-2c17c7c1 ps16281\" style=\"width:1.94pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.95pt\">relatifs au capital, aux dividendes vers\u00e9s, aux ventes</span><span class=\"f charStyle-2c17c7c1 ps16281\" style=\"width:1.94pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:28.93pt\">(rachat)</span><span class=\"f charStyle-165dec60 ps35426\" style=\"width:188.99pt\"> d\u2019actions propres, aux frais et primes li\u00e9s aux</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9missions d\u2019emprunts, et aux rachats de participations</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">sans prise de contr\u00f4le et (iii) de la variation des cessions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div>de cr\u00e9ances commerciales non r\u00e9currentes.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-429": {
   "value": "<div class=\"ps29601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.1<span class=\"f ps53\"> </span><span id=\"ibdc9bbe6a2ae4657a0b4a3f6e5da263b\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29600\"><span style=\"display:inline-block;height:8.22pt;width:12.34pt\"></span></span><span class=\"ps29598\">Int\u00e9gration globale</span></span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.92pt\">La m\u00e9thode de l\u2019int\u00e9gration globale est appliqu\u00e9e pour la</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">consolidation des \u00e9tats financiers des soci\u00e9t\u00e9s dans</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">lesquelles Valeo exerce directement ou indirectement le</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:213.61pt\">contr\u00f4le. Le contr\u00f4le d\u2019une soci\u00e9t\u00e9 existe lorsque le Groupe\u00a0:</span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:120.6pt\">d\u00e9tient le pouvoir sur la soci\u00e9t\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">est expos\u00e9 ou a droit \u00e0 des rendements variables en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:127.26pt\">raison de ses liens avec la soci\u00e9t\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">a la capacit\u00e9 d\u2019exercer son pouvoir sur les activit\u00e9s</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps29602 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">jug\u00e9es pertinentes de la soci\u00e9t\u00e9 de mani\u00e8re \u00e0 influer sur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29603 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.15pt\">le montant des rendements qu\u2019il obtient.</span></div><div class=\"ps29604 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Toutes les transactions entre les filiales consolid\u00e9es sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29605 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">\u00e9limin\u00e9es, de m\u00eame que les r\u00e9sultats internes au Groupe</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.52pt\">(plus-values, profits sur stocks, dividendes).</span></div><div class=\"ps29606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les r\u00e9sultats des filiales acquises sont consolid\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29607 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:192.76pt\">compter de la date \u00e0 laquelle le contr\u00f4le est exerc\u00e9.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-428": {
   "value": "<div class=\"ps29601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.1<span class=\"f ps53\"> </span><span id=\"ibdc9bbe6a2ae4657a0b4a3f6e5da263b\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29600\"><span style=\"display:inline-block;height:8.22pt;width:12.34pt\"></span></span><span class=\"ps29598\">Int\u00e9gration globale</span></span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.92pt\">La m\u00e9thode de l\u2019int\u00e9gration globale est appliqu\u00e9e pour la</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps2801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">consolidation des \u00e9tats financiers des soci\u00e9t\u00e9s dans</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">lesquelles Valeo exerce directement ou indirectement le</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps2803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:213.61pt\">contr\u00f4le. Le contr\u00f4le d\u2019une soci\u00e9t\u00e9 existe lorsque le Groupe\u00a0:</span></div><div class=\"ps2804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:120.6pt\">d\u00e9tient le pouvoir sur la soci\u00e9t\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">est expos\u00e9 ou a droit \u00e0 des rendements variables en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:127.26pt\">raison de ses liens avec la soci\u00e9t\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">a la capacit\u00e9 d\u2019exercer son pouvoir sur les activit\u00e9s</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps29602 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">jug\u00e9es pertinentes de la soci\u00e9t\u00e9 de mani\u00e8re \u00e0 influer sur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29603 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.15pt\">le montant des rendements qu\u2019il obtient.</span></div><div class=\"ps29604 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Toutes les transactions entre les filiales consolid\u00e9es sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29605 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">\u00e9limin\u00e9es, de m\u00eame que les r\u00e9sultats internes au Groupe</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.52pt\">(plus-values, profits sur stocks, dividendes).</span></div><div class=\"ps29606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les r\u00e9sultats des filiales acquises sont consolid\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29607 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:192.76pt\">compter de la date \u00e0 laquelle le contr\u00f4le est exerc\u00e9.</span></div><div class=\"ps35245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">11.1.3<span id=\"i7f0b1e867a4343369853de82630a68c8\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps35244\"><span style=\"display:inline-block;height:8.71pt;width:13.44pt\"></span></span><span class=\"ps29285\">Participations ne donnant pas le contr\u00f4le</span></span></div><div class=\"ps35247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:298.88pt\">L\u2019\u00e9volution des participations ne donnant pas le contr\u00f4le s\u2019analyse comme suit\u00a0:</span><span class=\"f charStyle-165dec60 ps35246\" style=\"width:1.96pt\"> </span></div><div class=\"ps35264 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE AU 1</span><span class=\"f charStyle-f4bb8995 ps35248\"><sup>er</sup></span><span class=\"f charStyle-3f403986 ps35249\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps34597\">796<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35250\">785<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Quote-part de r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28334\">55<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28336\">72<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dividendes vers\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28204\">(40)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35251\">(42)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2202\"><div><div class=\"ps35252 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Ajustements de juste valeur des options de ventes accord\u00e9es aux d\u00e9tenteurs </span></div><div class=\"ps35254 ss1864\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0participations ne donnant pas le contr\u00f4le </span><span class=\"f charStyle-4da12822 ps35253\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss2203\"><div><div class=\"ps145 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss2203\"><div><div class=\"ps145 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps571 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres mouvements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35255 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35034\">4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35257 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35256\">(11)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35259 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35258\">(65)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35261 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35260\">(12)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8556 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35262 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps30693\">750<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35263 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps34597\">796<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:35.38pt\">Note 9.1.2.2</span><span class=\"f charStyle-776a1ec6 ps35265\" style=\"width:33.6pt\">, page 431.</span></div><div class=\"ps21170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:384.56pt\">Les participations ne donnant pas le contr\u00f4le se d\u00e9composent principalement de la mani\u00e8re suivante\u00a0:</span></div><div class=\"ps35308 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td></tr><tr style=\"height:41.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps35272 ss2204\"><div><div class=\"ps27459 ss1066\"><span class=\"f charStyle-98f46611 ps35267\">Pourcentage d'int\u00e9r\u00eats </span></div><div class=\"ps35268 ss1066\"><span class=\"f charStyle-98f46611 ps11499\">d\u00e9tenus\u00a0par\u00a0les\u00a0participations </span></div><div class=\"ps35269 ss1066\"><span class=\"f charStyle-98f46611 ps14715\">ne\u00a0donnant\u00a0pas\u00a0le contr\u00f4le<span class=\"f ps53\"> </span></span></div><div class=\"ps35271 ss1066\"><span class=\"f charStyle-a8abcdde ps35270\">(en %)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10276 ss2204\"><div><div class=\"ps27459 ss1066\"><span class=\"f charStyle-98f46611 ps35273\">Capitaux propres - Part </span></div><div class=\"ps35268 ss1066\"><span class=\"f charStyle-98f46611 ps35274\">des\u00a0participations ne donnant <span class=\"f ps53\"> </span></span></div><div class=\"ps35269 ss1066\"><span class=\"f charStyle-98f46611 ps35275\">pas\u00a0le\u00a0contr\u00f4le<span class=\"f ps53\"> </span></span></div><div class=\"ps35271 ss1066\"><span class=\"f charStyle-a8abcdde ps11197\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35278 ss1796\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-6bef0edd ps35276\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss875\"><span class=\"f charStyle-6bef0edd ps35277\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35279 ss1796\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-ae6044e9 ps35276\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss875\"><span class=\"f charStyle-ae6044e9 ps28563\">2024</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35280 ss1796\"><div><div class=\"ps523 ss875\"><span class=\"f charStyle-6bef0edd ps35277\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35281 ss1796\"><div><div class=\"ps523 ss875\"><span class=\"f charStyle-ae6044e9 ps28563\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4545 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-044fe383 ps10\">Pyeong Hwa Company\u00a0</span><span class=\"f charStyle-4da12822 ps35282\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35283 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31970\"></span><span class=\"ps31970\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35284 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31970\"></span><span class=\"ps31970\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35286 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps35285\">537<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35287 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps30546\">571<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8277 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-a696f64a ps10\">Entit\u00e9s de l'Alliance Chine Ichikoh<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35289 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35288\"></span><span class=\"ps35288\">5,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35290 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35288\"></span><span class=\"ps35288\">5,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35291 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps27477\">28<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35293 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps35292\">43<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-a696f64a ps10\">Autres entit\u00e9s Ichikoh <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35294 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps5490\"></span><span class=\"ps5490\">38,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35295 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps5490\"></span><span class=\"ps5490\">38,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35296 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps30546\">157<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35297 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps27613\">150<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2207\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-044fe383 ps10\">Autres participations individuellement </span></div><div class=\"ps748 ss2205\"><span class=\"f charStyle-044fe383 ps10\">non\u00a0significatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35299 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35298\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35300 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35298\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35301 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps27477\">28<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35303 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35302\">32<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22751 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-f573b8b5 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35305 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35304\">750<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35307 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35306\">796<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8608 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:409.44pt\">Pyeong Hwa Company est le partenaire historique dans les entit\u00e9s Valeo Pyeong Hwa et Valeo-Kapec notamment en Cor\u00e9e.<span class=\"f ps53\"> </span></span></div><div><div id=\"i2875f4fbc551449b952701acfd85d7df_1006\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i722fbe0fc23942288684937b5ee0cbf0\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">14<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35545\"><span style=\"display:inline-block;height:13.55pt;width:29.68pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Liste </span><span class=\"f charStyle-26f8f9e5 ps35546\">des soci\u00e9t\u00e9s consolid\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps35609 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">EUROPE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">FRANCE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (soci\u00e9t\u00e9 m\u00e8re)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">SC2N </span><span class=\"f charStyle-4da12822 ps35557\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Embrayages</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management\u00a0 (ex-Valeo Bayen) </span><span class=\"f charStyle-4da12822 ps35562\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services </span><span class=\"f charStyle-4da12822 ps35565\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Comfort and Driving Assistance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo \u00c9lectrification</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes d\u2019Essuyage<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes Thermiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power France </span><span class=\"f charStyle-4da12822 ps35580\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 22 <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo ExpertIn<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35587\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ESPAGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Termico, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ITALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Italia, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0</span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35612 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.</span></div><div class=\"ps35613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.</span></div><div class=\"ps35614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.</span></div><div class=\"ps4730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.</span></div><div class=\"ps4731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.</span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">ALLEMAGNE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Auto-Electric GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35616\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35618\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Holding GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35621\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Klimasysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35622\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Schalter und Sensoren GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35623\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Service Deutschland GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35624\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Wischersysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35625\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Telematik und Akustik GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35626\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Germany GmbH </span><span class=\"f charStyle-4da12822 ps35627\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive BSAES Holding GmbH </span><span class=\"f charStyle-4da12822 ps35628\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE Verwaltungs GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35629\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Powertrain GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35630\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive systems GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35631\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive M\u00f6ve GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35632\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">gestigon GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35633\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems GmbH </span><span class=\"f charStyle-4da12822 ps35634\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROYAUME-UNI</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (UK) Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Climate Control Limited </span><span class=\"f charStyle-4da12822 ps35635\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services UK Limited </span><span class=\"f charStyle-4da12822 ps35639\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Air Management UK Limited </span><span class=\"f charStyle-4da12822 ps35640\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">IRLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Connaught Electronics Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">HI-KEY Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh Holding Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35652 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35655 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35657 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35659 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BELGIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">LUXEMBOURG</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Coreval<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">PAYS-BAS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sub-Holdings C.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Holding Netherlands B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo International Holding B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Lucia Technologies B.V. <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">R\u00c9PUBLIQUE TCH\u00c8QUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autoklimatizace k.s.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor Europe s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vymeniky Tepla s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Czechia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems s.r.o </span><span class=\"f charStyle-4da12822 ps35660\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">SLOVAQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Slovakia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">POLOGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autosystemy Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Electric and Electronic Systems Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Eastern Europe Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">HONGRIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto-Electric Hungary LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Hungary Kft.</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROUMANIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Injection SA<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sisteme Termice S.R.L.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps547 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">RUSSIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35661 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Technology Rus Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35662 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35663 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35664 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35665 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35666 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35667 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35668 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35669 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35670 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TURQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Otomotiv Sanayi ve Ticaret AS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AFRIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TUNISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Embrayages Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MAROC</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Maroc, S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9GYPTE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Internal Automotive Software Egypt<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Detection Systems LLC <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AFRIQUE DU SUD</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Systems South Africa (Proprietary) Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Thermal Systems East London (Pty) Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25656\">51<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU NORD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9TATS-UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Radar Systems, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35681 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps10484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">CANADA<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Canada, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MEXIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Delmex de Juarez, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotrices de M\u00e9xico, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electricos, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electronicos, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mexico Tech Center, SA de CV <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Telematica y Acustica, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE Mexicana, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BR\u00c9SIL</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotivos Ltda<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">ASIE PACIFIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">THA\u00cfLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Siam Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Comfort and Driving Assistance Systems (Thailand)\u00a0Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25973\">61<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps17125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35685 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35686 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35689 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">COR\u00c9E DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive Korea Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Electrical Systems Korea Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong Hwa Automotive Components Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Samsung Thermal Systems Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong HWA Metals Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Kapec Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems Korea Co. Ltd </span><span class=\"f charStyle-4da12822 ps35692\"><sup>(4)</sup></span><span class=\"f charStyle-044fe383 ps35693\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo PHC Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Korea Co. Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC High Voltage Systems Co., Ltd. </span><span class=\"f charStyle-4da12822 ps35694\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps35695\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDON\u00c9SIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT Valeo AC Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">PT VPH Asean Transmission</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT. Ichikoh Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MALAISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Malaysia SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh (Malaysia) SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Malaysia CDA SDN.BHD. </span><span class=\"f charStyle-4da12822 ps35697\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">EMIRATS ARABES UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Middle East Aftermarket FZE (ex-Valeo Thermal </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Commercial Vehicles Middle East FZE) </span><span class=\"f charStyle-4da12822 ps35698\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16748 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AUSTRALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16754 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Australia PTY Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35699 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35700 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35701 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35702 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35706 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35707 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35708 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35709 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">JAPON<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Kyushu Ichikoh Industries. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Japan Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Japan K,K<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">CHINE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Faw-Valeo Climate Control Systems Co. Ltd </span><span class=\"f charStyle-4da12822 ps35711\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35712\">36,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Ichikoh Valeo Auto Lighting Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Guangzhou Valeo Engine Cooling Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Huada Automotive Air Conditioner (Hunan) Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Nanjing Valeo Clutch Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Shanghai Valeo Automotive Electrical Systems Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Pyeong-Hwa Transmission Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Taizhou Valeo Wenling Automotive Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto Parts Trading (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive Air Conditioning Hubei Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Torque Converters (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling (Foshan) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor (Changchun) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh (China) Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shenzhen) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Hubei Technical Center Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Management (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-0e45555a ps10\">Valeo Comfort Driving Assistance Systems (Guangzhou) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35716 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35717 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35719 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35720 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Shanghai Automotive Electric Motors &amp; Wiper </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Systems\u00a0Co.\u00a0Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35721 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps757 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps25232 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Wuxi Valeo Automotive Components and System Co., Ltd </span><span class=\"f charStyle-4da12822 ps35722\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35723 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16370 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25920 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25921 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Changshu Valeo Automotive Wiper System Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35724 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35725 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11132 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Pyeong Hwa International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35726 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35727 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25923 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25786 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Shenzhen) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35728 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35729 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25926 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25793 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive ePowertrain Systems (Shanghai) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35730 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35731 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25929 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3474 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Bluepark Automotive E-Drive Systems (Changzhou) Co. <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ltd. </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35732 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35734 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25932 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25934 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps792 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Valeo Electronic Auto Parts Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35735 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35736 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35737 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35738 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps793 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Powertrain (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35739 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35740 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps800 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35741 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps803 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo ePowertrain (Tianjin) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35742 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35743 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35744 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25820 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps804 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Changshu) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35745 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35746 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps812 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25826 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25441 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Fawer Valeo eAutomotive Parts Changshu <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35747 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35748 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35749 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25449 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10569 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power Technology (Nanjing) Co., Ltd (ex-FTE automotive </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">(Taicang) Co. Ltd)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35750 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35751 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35752 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25456 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3877 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Zhihui Valeo (Zhejiang) Auto Parts Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35753 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35754 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35755 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25464 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28407 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Systems (Shanghai\uff09Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35756 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35757 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35758 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35759 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28413 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems (Shenzhen) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35760 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35761 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35762 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35763 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3907 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Special Products eAutomotive Lighting (Changshu) Co., </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35764 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35765 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35766 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35767 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10608 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35768 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Amalgamations Valeo Clutch Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35770 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35771 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35772 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35773 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials India Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35774 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35775 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35776 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35777 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps542 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo India Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35778 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35780 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35781 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35782 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35785 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div>entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-435": {
   "value": "<div class=\"ps29609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.2<span id=\"iafe3fcdee4f24ee7be3c5728d91001c9\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29608\"><span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29598\">Mise en \u00e9quivalence des\u00a0coentreprises </span></span></div><div class=\"ps29611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29610\">et\u00a0des entreprises associ\u00e9es</span></div><div class=\"ps13611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.99pt\">Des contrats de partenariat organisent le contr\u00f4le d\u2019une</span><span class=\"f charStyle-b2f078f6 ps412\" style=\"width:1.83pt\"> </span></div><div class=\"ps13613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:28.49pt\">soci\u00e9t\u00e9 </span><span class=\"f charStyle-81993cb5 ps29612\" style=\"width:189.47pt\">et pr\u00e9voient un contr\u00f4le conjoint d\u2019au moins deux</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps13614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:43.27pt\">partenaires.</span><span class=\"f charStyle-165dec60 ps29613\" style=\"width:2.45pt\"> </span><span class=\"f charStyle-9c680f66 ps29614\" style=\"width:172.26pt\">Un partenariat dans lequel les parties ont des</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:63.34pt\">droits sur l\u2019actif</span><span class=\"f charStyle-165dec60 ps29615\" style=\"width:154.64pt\"> net est appel\u00e9 \u00ab\u00a0coentreprise\u00a0\u00bb. Un</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">partenariat dans lequel les parties ont des droits sur les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:105.91pt\">actifs, et des obligations au </span><span class=\"f charStyle-c8069515 ps29616\" style=\"width:112.07pt\">titre des passifs du partenariat</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:114.05pt\">est appel\u00e9 \u00ab\u00a0activit\u00e9 conjointe\u00a0\u00bb.</span></div><div class=\"ps13622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.96pt\">Valeo exerce \u00e9galement une influence notable dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps608\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:33.85pt\">certaines</span><span class=\"f charStyle-165dec60 ps29617\" style=\"width:184.11pt\"> soci\u00e9t\u00e9s, appel\u00e9es entreprises associ\u00e9es.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">L\u2019influence notable se caract\u00e9rise par le pouvoir de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">participer aux d\u00e9cisions relatives aux politiques</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">financi\u00e8res et op\u00e9rationnelles de la soci\u00e9t\u00e9, sans toutefois</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">contr\u00f4ler ou contr\u00f4ler conjointement ces politiques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">L\u2019influence notable est pr\u00e9sum\u00e9e lorsque plus de 20\u00a0%</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des droits de vote sont d\u00e9tenus. Ces coentreprises et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29620 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">entreprises associ\u00e9es sont comptabilis\u00e9es selon la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29621 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">m\u00e9thode de la mise en \u00e9quivalence. Cette m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">consiste \u00e0 enregistrer, \u00e0 la date \u00e0 laquelle la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">devient une entreprise associ\u00e9e ou une coentreprise, une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">participation dans les soci\u00e9t\u00e9s mises en \u00e9quivalence dans</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:156.96pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e.</span><span class=\"f charStyle-165dec60 ps29625\" style=\"width:1.96pt\"> </span></div><div class=\"ps11398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Cette participation est initialement comptabilis\u00e9e au co\u00fbt</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11400 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">d\u2019acquisition. Au cas sp\u00e9cifique d\u2019une perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps14146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.99pt\">d\u2019une filiale emportant la comptabilisation d\u2019une</span><span class=\"f charStyle-4afdd138 ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps14147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:47.32pt\">participation</span><span class=\"f charStyle-165dec60 ps29626\" style=\"width:170.67pt\"> dans une coentreprise ou dans une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">entreprise associ\u00e9e, le co\u00fbt initial de cette participation</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">est \u00e9gal \u00e0 sa juste valeur \u00e0 la date de la perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">conform\u00e9ment \u00e0 IFRS 10.25. Elle est ensuite ajust\u00e9e apr\u00e8s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19419 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">la date d\u2019acquisition de la quote-part du Groupe dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">r\u00e9sultat global non distribu\u00e9 de l\u2019entreprise d\u00e9tenue. Ces</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">r\u00e9sultats peuvent \u00eatre retrait\u00e9s pour une mise en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:174.79pt\">conformit\u00e9 avec les principes comptables </span><span class=\"f charStyle-7cdffd50 ps29627\" style=\"width:43.2pt\">du Groupe.</span><span class=\"f charStyle-7cdffd50 ps412\" style=\"width:1.77pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps6588\" style=\"width:15.06pt\">Le\u00a0</span><span class=\"f charStyle-d7795f5b ps29628\" style=\"width:30.71pt\">goodwill</span><span class=\"f charStyle-7cdffd50 ps29629\" style=\"width:172.19pt\"> se rapportant \u00e0 l\u2019acquisition d\u2019entreprises</span><span class=\"f charStyle-b2f078f6 ps608\" style=\"width:1.83pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">associ\u00e9es ou de coentreprises est inclus dans la ligne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.59pt\">\u00ab\u00a0Participations</span><span class=\"f charStyle-b2f078f6 ps29630\" style=\"width:149.11pt\"> dans les soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps19434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.99pt\">Les modalit\u00e9s d\u2019\u00e9valuation des participations dans les</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps29633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:32.27pt\">soci\u00e9t\u00e9s </span><span class=\"f charStyle-165dec60 ps29632\" style=\"width:185.7pt\">mises en \u00e9quivalence sont r\u00e9gies par les normes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">IFRS 9 \u00ab\u00a0Instruments financiers\u00a0: comptabilisation et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62.17pt\">\u00e9valuation \u00bb et </span><span class=\"f charStyle-9206869b ps12826\" style=\"width:155.78pt\">IAS 28 r\u00e9vis\u00e9e \u00ab\u00a0Participations dans des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:78.2pt\">entreprises associ\u00e9es</span><span class=\"f charStyle-165dec60 ps29636\" style=\"width:84.87pt\"> et des coentreprises\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps29637\" style=\"width:1.96pt\"> </span></div><div class=\"ps29639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les pertes de valeur susceptibles d\u2019\u00eatre comptabilis\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">sur les participations des soci\u00e9t\u00e9s mises en \u00e9quivalence,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">ainsi que le profit ou la perte li\u00e9s \u00e0 la r\u00e9\u00e9valuation \u00e0 sa</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">juste valeur de la quote-part ant\u00e9rieurement d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29643 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">(lors de la prise de contr\u00f4le d\u2019une soci\u00e9t\u00e9 mise en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00e9quivalence) sont enregistr\u00e9s sur la ligne \u00ab\u00a0Quote-part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:202.2pt\">dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps29647 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.19pt\">La liste des soci\u00e9t\u00e9s consolid\u00e9es est pr\u00e9sent\u00e9e en </span><span class=\"f charStyle-165dec60 ps29646\" style=\"width:28.2pt\">Note 14</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.42pt\">pages 450 \u00e0 457 .</span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Toutes les participations comptabilis\u00e9es selon la m\u00e9thode de la mise en \u00e9quivalence, qu\u2019il s\u2019agisse des coentreprises ou des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps2658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">entreprises associ\u00e9es, s\u2019inscrivent dans le prolongement de l\u2019activit\u00e9 op\u00e9rationnelle du Groupe et sont rattach\u00e9es \u00e0 l'un de ses</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">trois secteurs op\u00e9rationnels. Elles sont int\u00e9gr\u00e9es dans le reporting interne du Groupe au sens de la norme IFRS\u00a08 et leur</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps2660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:368.81pt\">performance op\u00e9rationnelle est suivie au niveau de chaque Division \u00e0 laquelle elles appartiennent.</span></div><div class=\"ps14152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">Les donn\u00e9es des entreprises associ\u00e9es et des coentreprises mises en \u00e9quivalence sont pr\u00e9sent\u00e9es de mani\u00e8re agr\u00e9g\u00e9e en raison</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps14155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:238.53pt\">du\u00a0caract\u00e8re individuellement non significatif de chaque entit\u00e9.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-434": {
   "value": "<div class=\"ps29609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.2<span id=\"iafe3fcdee4f24ee7be3c5728d91001c9\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29608\"><span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29598\">Mise en \u00e9quivalence des\u00a0coentreprises </span></span></div><div class=\"ps29611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29610\">et\u00a0des entreprises associ\u00e9es</span></div><div class=\"ps13611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.99pt\">Des contrats de partenariat organisent le contr\u00f4le d\u2019une</span><span class=\"f charStyle-b2f078f6 ps412\" style=\"width:1.83pt\"> </span></div><div class=\"ps13613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:28.49pt\">soci\u00e9t\u00e9 </span><span class=\"f charStyle-81993cb5 ps29612\" style=\"width:189.47pt\">et pr\u00e9voient un contr\u00f4le conjoint d\u2019au moins deux</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps13614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:43.27pt\">partenaires.</span><span class=\"f charStyle-165dec60 ps29613\" style=\"width:2.45pt\"> </span><span class=\"f charStyle-9c680f66 ps29614\" style=\"width:172.26pt\">Un partenariat dans lequel les parties ont des</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:63.34pt\">droits sur l\u2019actif</span><span class=\"f charStyle-165dec60 ps29615\" style=\"width:154.64pt\"> net est appel\u00e9 \u00ab\u00a0coentreprise\u00a0\u00bb. Un</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">partenariat dans lequel les parties ont des droits sur les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:105.91pt\">actifs, et des obligations au </span><span class=\"f charStyle-c8069515 ps29616\" style=\"width:112.07pt\">titre des passifs du partenariat</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:114.05pt\">est appel\u00e9 \u00ab\u00a0activit\u00e9 conjointe\u00a0\u00bb.</span></div><div class=\"ps13622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.96pt\">Valeo exerce \u00e9galement une influence notable dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps608\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:33.85pt\">certaines</span><span class=\"f charStyle-165dec60 ps29617\" style=\"width:184.11pt\"> soci\u00e9t\u00e9s, appel\u00e9es entreprises associ\u00e9es.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">L\u2019influence notable se caract\u00e9rise par le pouvoir de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">participer aux d\u00e9cisions relatives aux politiques</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">financi\u00e8res et op\u00e9rationnelles de la soci\u00e9t\u00e9, sans toutefois</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">contr\u00f4ler ou contr\u00f4ler conjointement ces politiques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">L\u2019influence notable est pr\u00e9sum\u00e9e lorsque plus de 20\u00a0%</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des droits de vote sont d\u00e9tenus. Ces coentreprises et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29620 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">entreprises associ\u00e9es sont comptabilis\u00e9es selon la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29621 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">m\u00e9thode de la mise en \u00e9quivalence. Cette m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">consiste \u00e0 enregistrer, \u00e0 la date \u00e0 laquelle la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">devient une entreprise associ\u00e9e ou une coentreprise, une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">participation dans les soci\u00e9t\u00e9s mises en \u00e9quivalence dans</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:156.96pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e.</span><span class=\"f charStyle-165dec60 ps29625\" style=\"width:1.96pt\"> </span></div><div class=\"ps11398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Cette participation est initialement comptabilis\u00e9e au co\u00fbt</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11400 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">d\u2019acquisition. Au cas sp\u00e9cifique d\u2019une perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps14146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.99pt\">d\u2019une filiale emportant la comptabilisation d\u2019une</span><span class=\"f charStyle-4afdd138 ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps14147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:47.32pt\">participation</span><span class=\"f charStyle-165dec60 ps29626\" style=\"width:170.67pt\"> dans une coentreprise ou dans une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">entreprise associ\u00e9e, le co\u00fbt initial de cette participation</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">est \u00e9gal \u00e0 sa juste valeur \u00e0 la date de la perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">conform\u00e9ment \u00e0 IFRS 10.25. Elle est ensuite ajust\u00e9e apr\u00e8s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19419 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">la date d\u2019acquisition de la quote-part du Groupe dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">r\u00e9sultat global non distribu\u00e9 de l\u2019entreprise d\u00e9tenue. Ces</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">r\u00e9sultats peuvent \u00eatre retrait\u00e9s pour une mise en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:174.79pt\">conformit\u00e9 avec les principes comptables </span><span class=\"f charStyle-7cdffd50 ps29627\" style=\"width:43.2pt\">du Groupe.</span><span class=\"f charStyle-7cdffd50 ps412\" style=\"width:1.77pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps6588\" style=\"width:15.06pt\">Le\u00a0</span><span class=\"f charStyle-d7795f5b ps29628\" style=\"width:30.71pt\">goodwill</span><span class=\"f charStyle-7cdffd50 ps29629\" style=\"width:172.19pt\"> se rapportant \u00e0 l\u2019acquisition d\u2019entreprises</span><span class=\"f charStyle-b2f078f6 ps608\" style=\"width:1.83pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">associ\u00e9es ou de coentreprises est inclus dans la ligne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.59pt\">\u00ab\u00a0Participations</span><span class=\"f charStyle-b2f078f6 ps29630\" style=\"width:149.11pt\"> dans les soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps19434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.99pt\">Les modalit\u00e9s d\u2019\u00e9valuation des participations dans les</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps29633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:32.27pt\">soci\u00e9t\u00e9s </span><span class=\"f charStyle-165dec60 ps29632\" style=\"width:185.7pt\">mises en \u00e9quivalence sont r\u00e9gies par les normes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">IFRS 9 \u00ab\u00a0Instruments financiers\u00a0: comptabilisation et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62.17pt\">\u00e9valuation \u00bb et </span><span class=\"f charStyle-9206869b ps12826\" style=\"width:155.78pt\">IAS 28 r\u00e9vis\u00e9e \u00ab\u00a0Participations dans des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:78.2pt\">entreprises associ\u00e9es</span><span class=\"f charStyle-165dec60 ps29636\" style=\"width:84.87pt\"> et des coentreprises\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps29637\" style=\"width:1.96pt\"> </span></div><div class=\"ps29639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les pertes de valeur susceptibles d\u2019\u00eatre comptabilis\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">sur les participations des soci\u00e9t\u00e9s mises en \u00e9quivalence,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">ainsi que le profit ou la perte li\u00e9s \u00e0 la r\u00e9\u00e9valuation \u00e0 sa</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">juste valeur de la quote-part ant\u00e9rieurement d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29643 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">(lors de la prise de contr\u00f4le d\u2019une soci\u00e9t\u00e9 mise en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00e9quivalence) sont enregistr\u00e9s sur la ligne \u00ab\u00a0Quote-part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:202.2pt\">dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps29647 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.19pt\">La liste des soci\u00e9t\u00e9s consolid\u00e9es est pr\u00e9sent\u00e9e en </span><span class=\"f charStyle-165dec60 ps29646\" style=\"width:28.2pt\">Note 14</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.42pt\">pages 450 \u00e0 457 .</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-433": {
   "value": "<div class=\"ps29609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.2<span id=\"iafe3fcdee4f24ee7be3c5728d91001c9\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29608\"><span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29598\">Mise en \u00e9quivalence des\u00a0coentreprises </span></span></div><div class=\"ps29611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29610\">et\u00a0des entreprises associ\u00e9es</span></div><div class=\"ps13611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.99pt\">Des contrats de partenariat organisent le contr\u00f4le d\u2019une</span><span class=\"f charStyle-b2f078f6 ps412\" style=\"width:1.83pt\"> </span></div><div class=\"ps13613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:28.49pt\">soci\u00e9t\u00e9 </span><span class=\"f charStyle-81993cb5 ps29612\" style=\"width:189.47pt\">et pr\u00e9voient un contr\u00f4le conjoint d\u2019au moins deux</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps13614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:43.27pt\">partenaires.</span><span class=\"f charStyle-165dec60 ps29613\" style=\"width:2.45pt\"> </span><span class=\"f charStyle-9c680f66 ps29614\" style=\"width:172.26pt\">Un partenariat dans lequel les parties ont des</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:63.34pt\">droits sur l\u2019actif</span><span class=\"f charStyle-165dec60 ps29615\" style=\"width:154.64pt\"> net est appel\u00e9 \u00ab\u00a0coentreprise\u00a0\u00bb. Un</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">partenariat dans lequel les parties ont des droits sur les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:105.91pt\">actifs, et des obligations au </span><span class=\"f charStyle-c8069515 ps29616\" style=\"width:112.07pt\">titre des passifs du partenariat</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:114.05pt\">est appel\u00e9 \u00ab\u00a0activit\u00e9 conjointe\u00a0\u00bb.</span></div><div class=\"ps13622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.96pt\">Valeo exerce \u00e9galement une influence notable dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps608\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:33.85pt\">certaines</span><span class=\"f charStyle-165dec60 ps29617\" style=\"width:184.11pt\"> soci\u00e9t\u00e9s, appel\u00e9es entreprises associ\u00e9es.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">L\u2019influence notable se caract\u00e9rise par le pouvoir de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">participer aux d\u00e9cisions relatives aux politiques</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">financi\u00e8res et op\u00e9rationnelles de la soci\u00e9t\u00e9, sans toutefois</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">contr\u00f4ler ou contr\u00f4ler conjointement ces politiques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">L\u2019influence notable est pr\u00e9sum\u00e9e lorsque plus de 20\u00a0%</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des droits de vote sont d\u00e9tenus. Ces coentreprises et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29620 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">entreprises associ\u00e9es sont comptabilis\u00e9es selon la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29621 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">m\u00e9thode de la mise en \u00e9quivalence. Cette m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">consiste \u00e0 enregistrer, \u00e0 la date \u00e0 laquelle la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">devient une entreprise associ\u00e9e ou une coentreprise, une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">participation dans les soci\u00e9t\u00e9s mises en \u00e9quivalence dans</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:156.96pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e.</span><span class=\"f charStyle-165dec60 ps29625\" style=\"width:1.96pt\"> </span></div><div class=\"ps11398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Cette participation est initialement comptabilis\u00e9e au co\u00fbt</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11400 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">d\u2019acquisition. Au cas sp\u00e9cifique d\u2019une perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps14146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.99pt\">d\u2019une filiale emportant la comptabilisation d\u2019une</span><span class=\"f charStyle-4afdd138 ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps14147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:47.32pt\">participation</span><span class=\"f charStyle-165dec60 ps29626\" style=\"width:170.67pt\"> dans une coentreprise ou dans une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">entreprise associ\u00e9e, le co\u00fbt initial de cette participation</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">est \u00e9gal \u00e0 sa juste valeur \u00e0 la date de la perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">conform\u00e9ment \u00e0 IFRS 10.25. Elle est ensuite ajust\u00e9e apr\u00e8s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19419 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">la date d\u2019acquisition de la quote-part du Groupe dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">r\u00e9sultat global non distribu\u00e9 de l\u2019entreprise d\u00e9tenue. Ces</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">r\u00e9sultats peuvent \u00eatre retrait\u00e9s pour une mise en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:174.79pt\">conformit\u00e9 avec les principes comptables </span><span class=\"f charStyle-7cdffd50 ps29627\" style=\"width:43.2pt\">du Groupe.</span><span class=\"f charStyle-7cdffd50 ps412\" style=\"width:1.77pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps6588\" style=\"width:15.06pt\">Le\u00a0</span><span class=\"f charStyle-d7795f5b ps29628\" style=\"width:30.71pt\">goodwill</span><span class=\"f charStyle-7cdffd50 ps29629\" style=\"width:172.19pt\"> se rapportant \u00e0 l\u2019acquisition d\u2019entreprises</span><span class=\"f charStyle-b2f078f6 ps608\" style=\"width:1.83pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">associ\u00e9es ou de coentreprises est inclus dans la ligne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.59pt\">\u00ab\u00a0Participations</span><span class=\"f charStyle-b2f078f6 ps29630\" style=\"width:149.11pt\"> dans les soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps19434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.99pt\">Les modalit\u00e9s d\u2019\u00e9valuation des participations dans les</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps29633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:32.27pt\">soci\u00e9t\u00e9s </span><span class=\"f charStyle-165dec60 ps29632\" style=\"width:185.7pt\">mises en \u00e9quivalence sont r\u00e9gies par les normes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">IFRS 9 \u00ab\u00a0Instruments financiers\u00a0: comptabilisation et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62.17pt\">\u00e9valuation \u00bb et </span><span class=\"f charStyle-9206869b ps12826\" style=\"width:155.78pt\">IAS 28 r\u00e9vis\u00e9e \u00ab\u00a0Participations dans des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:78.2pt\">entreprises associ\u00e9es</span><span class=\"f charStyle-165dec60 ps29636\" style=\"width:84.87pt\"> et des coentreprises\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps29637\" style=\"width:1.96pt\"> </span></div><div class=\"ps29639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les pertes de valeur susceptibles d\u2019\u00eatre comptabilis\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">sur les participations des soci\u00e9t\u00e9s mises en \u00e9quivalence,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">ainsi que le profit ou la perte li\u00e9s \u00e0 la r\u00e9\u00e9valuation \u00e0 sa</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">juste valeur de la quote-part ant\u00e9rieurement d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29643 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">(lors de la prise de contr\u00f4le d\u2019une soci\u00e9t\u00e9 mise en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00e9quivalence) sont enregistr\u00e9s sur la ligne \u00ab\u00a0Quote-part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:202.2pt\">dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps29647 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.19pt\">La liste des soci\u00e9t\u00e9s consolid\u00e9es est pr\u00e9sent\u00e9e en </span><span class=\"f charStyle-165dec60 ps29646\" style=\"width:28.2pt\">Note 14</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.42pt\">pages 450 \u00e0 457 .</span></div><div class=\"ps30621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.3<span id=\"i22210b0c2cfe4101a0f1619a6177d5a3\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30620\"><span style=\"display:inline-block;height:8.71pt;width:13.3pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Entreprises associ\u00e9es et coentreprises</span></div><div class=\"ps30622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.1<span id=\"i3a0cd2b6293d43de9baae091725610cd\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps17328\"><span style=\"display:inline-block;height:8.22pt;width:8.9pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Toutes les participations comptabilis\u00e9es selon la m\u00e9thode de la mise en \u00e9quivalence, qu\u2019il s\u2019agisse des coentreprises ou des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps2658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">entreprises associ\u00e9es, s\u2019inscrivent dans le prolongement de l\u2019activit\u00e9 op\u00e9rationnelle du Groupe et sont rattach\u00e9es \u00e0 l'un de ses</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">trois secteurs op\u00e9rationnels. Elles sont int\u00e9gr\u00e9es dans le reporting interne du Groupe au sens de la norme IFRS\u00a08 et leur</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps2660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:368.81pt\">performance op\u00e9rationnelle est suivie au niveau de chaque Division \u00e0 laquelle elles appartiennent.</span></div><div class=\"ps30629 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.42pt\"></span></span><span class=\"ps30603\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.4pt\"></span></span><span class=\"ps19256\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.33pt\"></span></span><span class=\"ps28284\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Shanghai Valeo Automotive Electrical Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.99pt\"></span></span><span class=\"ps28391\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Faw-Valeo Climate Control Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-f573b8b5 ps10\">QUOTE-PART DANS LES R\u00c9SULTATS DES ENTREPRISES MISES EN \u00c9QUIVALENCE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.48pt\"></span></span><span class=\"ps30627\">(20)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.2<span id=\"i9b3405a938e14d96a66521a97ea4a3eb\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30630\"><span style=\"display:inline-block;height:8.22pt;width:7.22pt\"></span></span><span class=\"ps29285\">Participations dans les soci\u00e9t\u00e9s mises en \u00e9quivalence</span></span></div><div class=\"ps30632 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les entreprises associ\u00e9es<span id=\"i454fdff3cb1a40b4bda26c32ae43bf83\"></span></span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:341.01pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les entreprises associ\u00e9es\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30640 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 1</span><span class=\"f charStyle-f4bb8995 ps30633\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps20641\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.72pt\"></span></span><span class=\"ps30634\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.26pt\"></span></span><span class=\"ps18578\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:271.59pt\">Les participations dans les entreprises associ\u00e9es sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.91pt\"></span></span><span class=\"ps30645\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.94pt\"></span></span><span class=\"ps30646\">13<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30647 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES ENTREPRISES ASSOCI\u00c9ES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">21<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.88pt\"></span></span><span class=\"ps7626\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30648 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les coentreprises<span id=\"i45a5d8663d924b43a3a64770174f4c10\"></span></span></div><div class=\"ps30649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:312.58pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les coentreprises\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30657 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 1</span><span class=\"f charStyle-f4bb8995 ps30650\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30651\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Quote-part dans les r\u00e9sultats des coentreprises</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.53pt\"></span></span><span class=\"ps30265\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Variations de p\u00e9rim\u00e8tre</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres mouvements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.07pt\"></span></span><span class=\"ps30655\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.69pt\"></span></span><span class=\"ps30656\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.34pt\"></span></span><span class=\"ps28303\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:243.16pt\">Les participations dans les coentreprises sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps30667 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Automotive Electrical <span class=\"f ps53\"> </span></span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-a696f64a ps10\">Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.38pt\"></span></span><span class=\"ps3134\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.39pt\"></span></span><span class=\"ps30658\">32<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23546 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-044fe383 ps10\">Fawer Valeo eAutomotive Parts </span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-044fe383 ps10\">(Changshu)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30660 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30661 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30662 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">19<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29320 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10289 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-2d4711d3 ps10\">Faw-Valeo Climate Control Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10328 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.66pt\"></span></span><span class=\"ps30664\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10329 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.55pt\"></span></span><span class=\"ps26141\">36,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10330 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10331 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10332 ss673\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10333 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10334 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10335 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10336 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps9780 ss517\"><div><div class=\"ps509 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES COENTREPRISES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10339 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.09pt\"></span></span><span class=\"ps19757\">43<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10340 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.84pt\"></span></span><span class=\"ps30666\">88<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">En d\u00e9cembre 2025, Valeo a c\u00e9d\u00e9 sa participation minoritaire de 36,5 % dans la coentreprise Faw-Valeo Climate Control Systems</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:396.04pt\">Co. Ltd, op\u00e9rant en Chine. Dans ses \u00e9tats financiers consolid\u00e9s au 30 juin 2025, le Groupe avait d\u00e9pr\u00e9ci\u00e9 </span><span class=\"f charStyle-165dec60 ps20961\" style=\"width:85.3pt\">la valeur des titres mis</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:105.67pt\">en \u00e9quivalence de la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps30670\" style=\"width:327.38pt\"> sur la base du prix de cession pr\u00e9vu par le protocole d'accord relatif \u00e0 cette transaction.</span></div><div class=\"ps30674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.3<span id=\"ib6cee7d98ba247f6ae704801ee6f6246\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30673\"><span style=\"display:inline-block;height:8.22pt;width:7.2pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Donn\u00e9es financi\u00e8res des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:210.89pt\">Les donn\u00e9es sont pr\u00e9sent\u00e9es \u00e0 100 % et en normes IFRS.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30675\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">Les donn\u00e9es des entreprises associ\u00e9es et des coentreprises mises en \u00e9quivalence sont pr\u00e9sent\u00e9es de mani\u00e8re agr\u00e9g\u00e9e en raison</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps14155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:238.53pt\">du\u00a0caract\u00e8re individuellement non significatif de chaque entit\u00e9.</span></div><div class=\"ps30676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Entreprises associ\u00e9es<span id=\"ibb0a0fa5c5264555ba337f02de88043e\"></span></span></div><div class=\"ps5025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:295.35pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des entreprises associ\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30681 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.16pt\"></span></span><span class=\"ps27977\">38<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.26pt\"></span></span><span class=\"ps30677\">44<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.82pt\"></span></span><span class=\"ps30678\">68<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.97pt\"></span></span><span class=\"ps30679\">78<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.29pt\"></span></span><span class=\"ps30680\">(7)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.51pt\"></span></span><span class=\"ps23528\">(45)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.05pt\"></span></span><span class=\"ps20621\">(57)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30685 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.72pt\"></span></span><span class=\"ps2611\">287<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.02pt\"></span></span><span class=\"ps30682\">313<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.71pt\"></span></span><span class=\"ps30683\">(280)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.27pt\"></span></span><span class=\"ps30684\">(302)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">C<span id=\"i2491344f02b64580a8b4c047fe0dab9e\"></span></span><span class=\"f charStyle-aa33f529 ps30686\">oentreprises</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:266.92pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des coentreprises sont les suivantes\u00a0:</span></div><div class=\"ps30695 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps27733\">31\u00a0d\u00e9cembre 2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.83pt\"></span></span><span class=\"ps30687\">137<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.26pt\"></span></span><span class=\"ps30688\">150<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.79pt\"></span></span><span class=\"ps30689\">269<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.42pt\"></span></span><span class=\"ps30690\">306<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.5pt\"></span></span><span class=\"ps30691\">(24)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(25)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.54pt\"></span></span><span class=\"ps30693\">(315)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.28pt\"></span></span><span class=\"ps30694\">(324)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30699 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">519<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">651<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.26pt\"></span></span><span class=\"ps30697\">(542)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.67pt\"></span></span><span class=\"ps30698\">(632)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.4<span id=\"id44eaf74946b42bebe1c013c73cd8b00\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30700\"><span style=\"display:inline-block;height:8.22pt;width:6.38pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Transactions avec les entreprises mises en \u00e9quivalence (parties li\u00e9es)</span></div><div class=\"ps30702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les comptes consolid\u00e9s incluent des op\u00e9rations effectu\u00e9es par le Groupe dans le cadre normal de ses activit\u00e9s avec les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:391.74pt\">entreprises associ\u00e9es et les coentreprises. Ces transactions se font \u00e0 des conditions normales de march\u00e9.</span></div><div class=\"ps30704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les entreprises associ\u00e9es<span id=\"ie435d98af34f4abba80f704d624da975\"></span></span></div><div class=\"ps30706 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.92pt\"></span></span><span class=\"ps883\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.91pt\"></span></span><span class=\"ps30705\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30709 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.5pt\"></span></span><span class=\"ps20357\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.69pt\"></span></span><span class=\"ps29563\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.05pt\"></span></span><span class=\"ps30708\">(41)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30710 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les coentreprises<span id=\"ia2247e92d8894838bfc50d8a3ac7fddf\"></span></span></div><div class=\"ps30716 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.8pt\"></span></span><span class=\"ps30711\">47<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.96pt\"></span></span><span class=\"ps28410\">42<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">(10)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.22pt\"></span></span><span class=\"ps23632\">(18)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30712 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30713 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.9pt\"></span></span><span class=\"ps30259\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30715 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.35pt\"></span></span><span class=\"ps30714\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30720 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.51pt\"></span></span><span class=\"ps30717\">112<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.55pt\"></span></span><span class=\"ps30718\">104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.59pt\"></span></span><span class=\"ps30719\">(71)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div id=\"i2875f4fbc551449b952701acfd85d7df_1006\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i722fbe0fc23942288684937b5ee0cbf0\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">14<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35545\"><span style=\"display:inline-block;height:13.55pt;width:29.68pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Liste </span><span class=\"f charStyle-26f8f9e5 ps35546\">des soci\u00e9t\u00e9s consolid\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps35609 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">EUROPE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">FRANCE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (soci\u00e9t\u00e9 m\u00e8re)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">SC2N </span><span class=\"f charStyle-4da12822 ps35557\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Embrayages</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management\u00a0 (ex-Valeo Bayen) </span><span class=\"f charStyle-4da12822 ps35562\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services </span><span class=\"f charStyle-4da12822 ps35565\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Comfort and Driving Assistance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo \u00c9lectrification</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes d\u2019Essuyage<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes Thermiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power France </span><span class=\"f charStyle-4da12822 ps35580\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 22 <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo ExpertIn<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35587\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ESPAGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Termico, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ITALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Italia, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0</span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35612 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.</span></div><div class=\"ps35613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.</span></div><div class=\"ps35614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.</span></div><div class=\"ps4730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.</span></div><div class=\"ps4731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.</span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">ALLEMAGNE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Auto-Electric GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35616\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35618\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Holding GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35621\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Klimasysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35622\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Schalter und Sensoren GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35623\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Service Deutschland GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35624\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Wischersysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35625\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Telematik und Akustik GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35626\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Germany GmbH </span><span class=\"f charStyle-4da12822 ps35627\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive BSAES Holding GmbH </span><span class=\"f charStyle-4da12822 ps35628\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE Verwaltungs GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35629\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Powertrain GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35630\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive systems GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35631\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive M\u00f6ve GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35632\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">gestigon GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35633\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems GmbH </span><span class=\"f charStyle-4da12822 ps35634\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROYAUME-UNI</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (UK) Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Climate Control Limited </span><span class=\"f charStyle-4da12822 ps35635\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services UK Limited </span><span class=\"f charStyle-4da12822 ps35639\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Air Management UK Limited </span><span class=\"f charStyle-4da12822 ps35640\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">IRLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Connaught Electronics Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">HI-KEY Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh Holding Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35652 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35655 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35657 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35659 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BELGIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">LUXEMBOURG</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Coreval<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">PAYS-BAS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sub-Holdings C.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Holding Netherlands B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo International Holding B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Lucia Technologies B.V. <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">R\u00c9PUBLIQUE TCH\u00c8QUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autoklimatizace k.s.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor Europe s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vymeniky Tepla s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Czechia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems s.r.o </span><span class=\"f charStyle-4da12822 ps35660\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">SLOVAQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Slovakia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">POLOGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autosystemy Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Electric and Electronic Systems Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Eastern Europe Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">HONGRIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto-Electric Hungary LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Hungary Kft.</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROUMANIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Injection SA<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sisteme Termice S.R.L.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps547 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">RUSSIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35661 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Technology Rus Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35662 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35663 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35664 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35665 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35666 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35667 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35668 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35669 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35670 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TURQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Otomotiv Sanayi ve Ticaret AS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AFRIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TUNISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Embrayages Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MAROC</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Maroc, S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9GYPTE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Internal Automotive Software Egypt<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Detection Systems LLC <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AFRIQUE DU SUD</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Systems South Africa (Proprietary) Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Thermal Systems East London (Pty) Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25656\">51<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU NORD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9TATS-UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Radar Systems, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35681 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps10484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">CANADA<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Canada, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MEXIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Delmex de Juarez, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotrices de M\u00e9xico, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electricos, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electronicos, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mexico Tech Center, SA de CV <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Telematica y Acustica, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE Mexicana, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BR\u00c9SIL</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotivos Ltda<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">ASIE PACIFIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">THA\u00cfLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Siam Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Comfort and Driving Assistance Systems (Thailand)\u00a0Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25973\">61<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps17125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35685 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35686 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35689 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">COR\u00c9E DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive Korea Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Electrical Systems Korea Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong Hwa Automotive Components Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Samsung Thermal Systems Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong HWA Metals Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Kapec Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems Korea Co. Ltd </span><span class=\"f charStyle-4da12822 ps35692\"><sup>(4)</sup></span><span class=\"f charStyle-044fe383 ps35693\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo PHC Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Korea Co. Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC High Voltage Systems Co., Ltd. </span><span class=\"f charStyle-4da12822 ps35694\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps35695\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDON\u00c9SIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT Valeo AC Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">PT VPH Asean Transmission</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT. Ichikoh Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MALAISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Malaysia SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh (Malaysia) SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Malaysia CDA SDN.BHD. </span><span class=\"f charStyle-4da12822 ps35697\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">EMIRATS ARABES UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Middle East Aftermarket FZE (ex-Valeo Thermal </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Commercial Vehicles Middle East FZE) </span><span class=\"f charStyle-4da12822 ps35698\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16748 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AUSTRALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16754 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Australia PTY Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35699 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35700 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35701 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35702 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35706 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35707 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35708 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35709 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">JAPON<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Kyushu Ichikoh Industries. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Japan Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Japan K,K<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">CHINE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Faw-Valeo Climate Control Systems Co. Ltd </span><span class=\"f charStyle-4da12822 ps35711\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35712\">36,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Ichikoh Valeo Auto Lighting Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Guangzhou Valeo Engine Cooling Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Huada Automotive Air Conditioner (Hunan) Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Nanjing Valeo Clutch Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Shanghai Valeo Automotive Electrical Systems Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Pyeong-Hwa Transmission Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Taizhou Valeo Wenling Automotive Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto Parts Trading (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive Air Conditioning Hubei Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Torque Converters (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling (Foshan) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor (Changchun) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh (China) Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shenzhen) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Hubei Technical Center Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Management (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-0e45555a ps10\">Valeo Comfort Driving Assistance Systems (Guangzhou) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35716 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35717 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35719 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35720 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Shanghai Automotive Electric Motors &amp; Wiper </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Systems\u00a0Co.\u00a0Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35721 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps757 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps25232 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Wuxi Valeo Automotive Components and System Co., Ltd </span><span class=\"f charStyle-4da12822 ps35722\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35723 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16370 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25920 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25921 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Changshu Valeo Automotive Wiper System Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35724 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35725 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11132 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Pyeong Hwa International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35726 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35727 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25923 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25786 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Shenzhen) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35728 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35729 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25926 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25793 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive ePowertrain Systems (Shanghai) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35730 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35731 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25929 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3474 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Bluepark Automotive E-Drive Systems (Changzhou) Co. <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ltd. </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35732 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35734 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25932 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25934 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps792 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Valeo Electronic Auto Parts Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35735 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35736 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35737 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35738 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps793 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Powertrain (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35739 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35740 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps800 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35741 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps803 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo ePowertrain (Tianjin) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35742 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35743 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35744 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25820 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps804 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Changshu) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35745 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35746 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps812 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25826 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25441 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Fawer Valeo eAutomotive Parts Changshu <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35747 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35748 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35749 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25449 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10569 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power Technology (Nanjing) Co., Ltd (ex-FTE automotive </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">(Taicang) Co. Ltd)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35750 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35751 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35752 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25456 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3877 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Zhihui Valeo (Zhejiang) Auto Parts Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35753 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35754 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35755 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25464 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28407 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Systems (Shanghai\uff09Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35756 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35757 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35758 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35759 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28413 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems (Shenzhen) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35760 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35761 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35762 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35763 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3907 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Special Products eAutomotive Lighting (Changshu) Co., </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35764 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35765 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35766 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35767 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10608 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35768 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Amalgamations Valeo Clutch Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35770 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35771 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35772 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35773 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials India Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35774 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35775 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35776 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35777 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps542 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo India Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35778 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35780 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35781 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35782 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35785 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div>entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-432": {
   "value": "<div class=\"ps29609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.2<span id=\"iafe3fcdee4f24ee7be3c5728d91001c9\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29608\"><span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29598\">Mise en \u00e9quivalence des\u00a0coentreprises </span></span></div><div class=\"ps29611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29610\">et\u00a0des entreprises associ\u00e9es</span></div><div class=\"ps13611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.99pt\">Des contrats de partenariat organisent le contr\u00f4le d\u2019une</span><span class=\"f charStyle-b2f078f6 ps412\" style=\"width:1.83pt\"> </span></div><div class=\"ps13613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:28.49pt\">soci\u00e9t\u00e9 </span><span class=\"f charStyle-81993cb5 ps29612\" style=\"width:189.47pt\">et pr\u00e9voient un contr\u00f4le conjoint d\u2019au moins deux</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps13614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:43.27pt\">partenaires.</span><span class=\"f charStyle-165dec60 ps29613\" style=\"width:2.45pt\"> </span><span class=\"f charStyle-9c680f66 ps29614\" style=\"width:172.26pt\">Un partenariat dans lequel les parties ont des</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:63.34pt\">droits sur l\u2019actif</span><span class=\"f charStyle-165dec60 ps29615\" style=\"width:154.64pt\"> net est appel\u00e9 \u00ab\u00a0coentreprise\u00a0\u00bb. Un</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">partenariat dans lequel les parties ont des droits sur les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:105.91pt\">actifs, et des obligations au </span><span class=\"f charStyle-c8069515 ps29616\" style=\"width:112.07pt\">titre des passifs du partenariat</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:114.05pt\">est appel\u00e9 \u00ab\u00a0activit\u00e9 conjointe\u00a0\u00bb.</span></div><div class=\"ps13622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.96pt\">Valeo exerce \u00e9galement une influence notable dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps608\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:33.85pt\">certaines</span><span class=\"f charStyle-165dec60 ps29617\" style=\"width:184.11pt\"> soci\u00e9t\u00e9s, appel\u00e9es entreprises associ\u00e9es.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">L\u2019influence notable se caract\u00e9rise par le pouvoir de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">participer aux d\u00e9cisions relatives aux politiques</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">financi\u00e8res et op\u00e9rationnelles de la soci\u00e9t\u00e9, sans toutefois</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">contr\u00f4ler ou contr\u00f4ler conjointement ces politiques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">L\u2019influence notable est pr\u00e9sum\u00e9e lorsque plus de 20\u00a0%</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des droits de vote sont d\u00e9tenus. Ces coentreprises et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29620 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">entreprises associ\u00e9es sont comptabilis\u00e9es selon la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29621 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">m\u00e9thode de la mise en \u00e9quivalence. Cette m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">consiste \u00e0 enregistrer, \u00e0 la date \u00e0 laquelle la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">devient une entreprise associ\u00e9e ou une coentreprise, une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">participation dans les soci\u00e9t\u00e9s mises en \u00e9quivalence dans</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:156.96pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e.</span><span class=\"f charStyle-165dec60 ps29625\" style=\"width:1.96pt\"> </span></div><div class=\"ps11398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Cette participation est initialement comptabilis\u00e9e au co\u00fbt</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11400 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">d\u2019acquisition. Au cas sp\u00e9cifique d\u2019une perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps14146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.99pt\">d\u2019une filiale emportant la comptabilisation d\u2019une</span><span class=\"f charStyle-4afdd138 ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps14147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:47.32pt\">participation</span><span class=\"f charStyle-165dec60 ps29626\" style=\"width:170.67pt\"> dans une coentreprise ou dans une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">entreprise associ\u00e9e, le co\u00fbt initial de cette participation</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">est \u00e9gal \u00e0 sa juste valeur \u00e0 la date de la perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">conform\u00e9ment \u00e0 IFRS 10.25. Elle est ensuite ajust\u00e9e apr\u00e8s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19419 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">la date d\u2019acquisition de la quote-part du Groupe dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">r\u00e9sultat global non distribu\u00e9 de l\u2019entreprise d\u00e9tenue. Ces</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">r\u00e9sultats peuvent \u00eatre retrait\u00e9s pour une mise en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:174.79pt\">conformit\u00e9 avec les principes comptables </span><span class=\"f charStyle-7cdffd50 ps29627\" style=\"width:43.2pt\">du Groupe.</span><span class=\"f charStyle-7cdffd50 ps412\" style=\"width:1.77pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps6588\" style=\"width:15.06pt\">Le\u00a0</span><span class=\"f charStyle-d7795f5b ps29628\" style=\"width:30.71pt\">goodwill</span><span class=\"f charStyle-7cdffd50 ps29629\" style=\"width:172.19pt\"> se rapportant \u00e0 l\u2019acquisition d\u2019entreprises</span><span class=\"f charStyle-b2f078f6 ps608\" style=\"width:1.83pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">associ\u00e9es ou de coentreprises est inclus dans la ligne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.59pt\">\u00ab\u00a0Participations</span><span class=\"f charStyle-b2f078f6 ps29630\" style=\"width:149.11pt\"> dans les soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps19434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.99pt\">Les modalit\u00e9s d\u2019\u00e9valuation des participations dans les</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps29633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:32.27pt\">soci\u00e9t\u00e9s </span><span class=\"f charStyle-165dec60 ps29632\" style=\"width:185.7pt\">mises en \u00e9quivalence sont r\u00e9gies par les normes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">IFRS 9 \u00ab\u00a0Instruments financiers\u00a0: comptabilisation et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62.17pt\">\u00e9valuation \u00bb et </span><span class=\"f charStyle-9206869b ps12826\" style=\"width:155.78pt\">IAS 28 r\u00e9vis\u00e9e \u00ab\u00a0Participations dans des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:78.2pt\">entreprises associ\u00e9es</span><span class=\"f charStyle-165dec60 ps29636\" style=\"width:84.87pt\"> et des coentreprises\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps29637\" style=\"width:1.96pt\"> </span></div><div class=\"ps29639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les pertes de valeur susceptibles d\u2019\u00eatre comptabilis\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">sur les participations des soci\u00e9t\u00e9s mises en \u00e9quivalence,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">ainsi que le profit ou la perte li\u00e9s \u00e0 la r\u00e9\u00e9valuation \u00e0 sa</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">juste valeur de la quote-part ant\u00e9rieurement d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29643 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">(lors de la prise de contr\u00f4le d\u2019une soci\u00e9t\u00e9 mise en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00e9quivalence) sont enregistr\u00e9s sur la ligne \u00ab\u00a0Quote-part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:202.2pt\">dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps29647 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.19pt\">La liste des soci\u00e9t\u00e9s consolid\u00e9es est pr\u00e9sent\u00e9e en </span><span class=\"f charStyle-165dec60 ps29646\" style=\"width:28.2pt\">Note 14</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.42pt\">pages 450 \u00e0 457 .</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-431": {
   "value": "<div class=\"ps29609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.2<span id=\"iafe3fcdee4f24ee7be3c5728d91001c9\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29608\"><span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29598\">Mise en \u00e9quivalence des\u00a0coentreprises </span></span></div><div class=\"ps29611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29610\">et\u00a0des entreprises associ\u00e9es</span></div><div class=\"ps13611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.99pt\">Des contrats de partenariat organisent le contr\u00f4le d\u2019une</span><span class=\"f charStyle-b2f078f6 ps412\" style=\"width:1.83pt\"> </span></div><div class=\"ps13613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:28.49pt\">soci\u00e9t\u00e9 </span><span class=\"f charStyle-81993cb5 ps29612\" style=\"width:189.47pt\">et pr\u00e9voient un contr\u00f4le conjoint d\u2019au moins deux</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps13614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:43.27pt\">partenaires.</span><span class=\"f charStyle-165dec60 ps29613\" style=\"width:2.45pt\"> </span><span class=\"f charStyle-9c680f66 ps29614\" style=\"width:172.26pt\">Un partenariat dans lequel les parties ont des</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:63.34pt\">droits sur l\u2019actif</span><span class=\"f charStyle-165dec60 ps29615\" style=\"width:154.64pt\"> net est appel\u00e9 \u00ab\u00a0coentreprise\u00a0\u00bb. Un</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">partenariat dans lequel les parties ont des droits sur les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:105.91pt\">actifs, et des obligations au </span><span class=\"f charStyle-c8069515 ps29616\" style=\"width:112.07pt\">titre des passifs du partenariat</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:114.05pt\">est appel\u00e9 \u00ab\u00a0activit\u00e9 conjointe\u00a0\u00bb.</span></div><div class=\"ps13622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.96pt\">Valeo exerce \u00e9galement une influence notable dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps608\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:33.85pt\">certaines</span><span class=\"f charStyle-165dec60 ps29617\" style=\"width:184.11pt\"> soci\u00e9t\u00e9s, appel\u00e9es entreprises associ\u00e9es.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">L\u2019influence notable se caract\u00e9rise par le pouvoir de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">participer aux d\u00e9cisions relatives aux politiques</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">financi\u00e8res et op\u00e9rationnelles de la soci\u00e9t\u00e9, sans toutefois</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">contr\u00f4ler ou contr\u00f4ler conjointement ces politiques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">L\u2019influence notable est pr\u00e9sum\u00e9e lorsque plus de 20\u00a0%</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des droits de vote sont d\u00e9tenus. Ces coentreprises et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29620 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">entreprises associ\u00e9es sont comptabilis\u00e9es selon la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29621 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">m\u00e9thode de la mise en \u00e9quivalence. Cette m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">consiste \u00e0 enregistrer, \u00e0 la date \u00e0 laquelle la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">devient une entreprise associ\u00e9e ou une coentreprise, une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">participation dans les soci\u00e9t\u00e9s mises en \u00e9quivalence dans</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:156.96pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e.</span><span class=\"f charStyle-165dec60 ps29625\" style=\"width:1.96pt\"> </span></div><div class=\"ps11398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Cette participation est initialement comptabilis\u00e9e au co\u00fbt</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11400 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">d\u2019acquisition. Au cas sp\u00e9cifique d\u2019une perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps14146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.99pt\">d\u2019une filiale emportant la comptabilisation d\u2019une</span><span class=\"f charStyle-4afdd138 ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps14147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:47.32pt\">participation</span><span class=\"f charStyle-165dec60 ps29626\" style=\"width:170.67pt\"> dans une coentreprise ou dans une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">entreprise associ\u00e9e, le co\u00fbt initial de cette participation</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">est \u00e9gal \u00e0 sa juste valeur \u00e0 la date de la perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">conform\u00e9ment \u00e0 IFRS 10.25. Elle est ensuite ajust\u00e9e apr\u00e8s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19419 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">la date d\u2019acquisition de la quote-part du Groupe dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">r\u00e9sultat global non distribu\u00e9 de l\u2019entreprise d\u00e9tenue. Ces</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">r\u00e9sultats peuvent \u00eatre retrait\u00e9s pour une mise en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:174.79pt\">conformit\u00e9 avec les principes comptables </span><span class=\"f charStyle-7cdffd50 ps29627\" style=\"width:43.2pt\">du Groupe.</span><span class=\"f charStyle-7cdffd50 ps412\" style=\"width:1.77pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps6588\" style=\"width:15.06pt\">Le\u00a0</span><span class=\"f charStyle-d7795f5b ps29628\" style=\"width:30.71pt\">goodwill</span><span class=\"f charStyle-7cdffd50 ps29629\" style=\"width:172.19pt\"> se rapportant \u00e0 l\u2019acquisition d\u2019entreprises</span><span class=\"f charStyle-b2f078f6 ps608\" style=\"width:1.83pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">associ\u00e9es ou de coentreprises est inclus dans la ligne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.59pt\">\u00ab\u00a0Participations</span><span class=\"f charStyle-b2f078f6 ps29630\" style=\"width:149.11pt\"> dans les soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps19434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.99pt\">Les modalit\u00e9s d\u2019\u00e9valuation des participations dans les</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps29633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:32.27pt\">soci\u00e9t\u00e9s </span><span class=\"f charStyle-165dec60 ps29632\" style=\"width:185.7pt\">mises en \u00e9quivalence sont r\u00e9gies par les normes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">IFRS 9 \u00ab\u00a0Instruments financiers\u00a0: comptabilisation et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62.17pt\">\u00e9valuation \u00bb et </span><span class=\"f charStyle-9206869b ps12826\" style=\"width:155.78pt\">IAS 28 r\u00e9vis\u00e9e \u00ab\u00a0Participations dans des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:78.2pt\">entreprises associ\u00e9es</span><span class=\"f charStyle-165dec60 ps29636\" style=\"width:84.87pt\"> et des coentreprises\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps29637\" style=\"width:1.96pt\"> </span></div><div class=\"ps29639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les pertes de valeur susceptibles d\u2019\u00eatre comptabilis\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">sur les participations des soci\u00e9t\u00e9s mises en \u00e9quivalence,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">ainsi que le profit ou la perte li\u00e9s \u00e0 la r\u00e9\u00e9valuation \u00e0 sa</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">juste valeur de la quote-part ant\u00e9rieurement d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29643 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">(lors de la prise de contr\u00f4le d\u2019une soci\u00e9t\u00e9 mise en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00e9quivalence) sont enregistr\u00e9s sur la ligne \u00ab\u00a0Quote-part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:202.2pt\">dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps29647 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.19pt\">La liste des soci\u00e9t\u00e9s consolid\u00e9es est pr\u00e9sent\u00e9e en </span><span class=\"f charStyle-165dec60 ps29646\" style=\"width:28.2pt\">Note 14</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.42pt\">pages 450 \u00e0 457 .</span></div><div class=\"ps30621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.3<span id=\"i22210b0c2cfe4101a0f1619a6177d5a3\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30620\"><span style=\"display:inline-block;height:8.71pt;width:13.3pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Entreprises associ\u00e9es et coentreprises</span></div><div class=\"ps30622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.1<span id=\"i3a0cd2b6293d43de9baae091725610cd\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps17328\"><span style=\"display:inline-block;height:8.22pt;width:8.9pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Toutes les participations comptabilis\u00e9es selon la m\u00e9thode de la mise en \u00e9quivalence, qu\u2019il s\u2019agisse des coentreprises ou des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps2658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">entreprises associ\u00e9es, s\u2019inscrivent dans le prolongement de l\u2019activit\u00e9 op\u00e9rationnelle du Groupe et sont rattach\u00e9es \u00e0 l'un de ses</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">trois secteurs op\u00e9rationnels. Elles sont int\u00e9gr\u00e9es dans le reporting interne du Groupe au sens de la norme IFRS\u00a08 et leur</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps2660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:368.81pt\">performance op\u00e9rationnelle est suivie au niveau de chaque Division \u00e0 laquelle elles appartiennent.</span></div><div class=\"ps30629 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.42pt\"></span></span><span class=\"ps30603\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.4pt\"></span></span><span class=\"ps19256\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.33pt\"></span></span><span class=\"ps28284\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Shanghai Valeo Automotive Electrical Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.99pt\"></span></span><span class=\"ps28391\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Faw-Valeo Climate Control Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-f573b8b5 ps10\">QUOTE-PART DANS LES R\u00c9SULTATS DES ENTREPRISES MISES EN \u00c9QUIVALENCE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.48pt\"></span></span><span class=\"ps30627\">(20)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.2<span id=\"i9b3405a938e14d96a66521a97ea4a3eb\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30630\"><span style=\"display:inline-block;height:8.22pt;width:7.22pt\"></span></span><span class=\"ps29285\">Participations dans les soci\u00e9t\u00e9s mises en \u00e9quivalence</span></span></div><div class=\"ps30632 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les entreprises associ\u00e9es<span id=\"i454fdff3cb1a40b4bda26c32ae43bf83\"></span></span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:341.01pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les entreprises associ\u00e9es\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30640 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 1</span><span class=\"f charStyle-f4bb8995 ps30633\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps20641\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.72pt\"></span></span><span class=\"ps30634\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.26pt\"></span></span><span class=\"ps18578\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:271.59pt\">Les participations dans les entreprises associ\u00e9es sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.91pt\"></span></span><span class=\"ps30645\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.94pt\"></span></span><span class=\"ps30646\">13<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30647 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES ENTREPRISES ASSOCI\u00c9ES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">21<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.88pt\"></span></span><span class=\"ps7626\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30648 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les coentreprises<span id=\"i45a5d8663d924b43a3a64770174f4c10\"></span></span></div><div class=\"ps30649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:312.58pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les coentreprises\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30657 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 1</span><span class=\"f charStyle-f4bb8995 ps30650\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30651\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Quote-part dans les r\u00e9sultats des coentreprises</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.53pt\"></span></span><span class=\"ps30265\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Variations de p\u00e9rim\u00e8tre</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres mouvements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.07pt\"></span></span><span class=\"ps30655\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.69pt\"></span></span><span class=\"ps30656\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.34pt\"></span></span><span class=\"ps28303\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:243.16pt\">Les participations dans les coentreprises sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps30667 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Automotive Electrical <span class=\"f ps53\"> </span></span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-a696f64a ps10\">Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.38pt\"></span></span><span class=\"ps3134\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.39pt\"></span></span><span class=\"ps30658\">32<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23546 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-044fe383 ps10\">Fawer Valeo eAutomotive Parts </span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-044fe383 ps10\">(Changshu)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30660 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30661 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30662 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">19<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29320 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10289 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-2d4711d3 ps10\">Faw-Valeo Climate Control Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10328 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.66pt\"></span></span><span class=\"ps30664\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10329 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.55pt\"></span></span><span class=\"ps26141\">36,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10330 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10331 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10332 ss673\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10333 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10334 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10335 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10336 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps9780 ss517\"><div><div class=\"ps509 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES COENTREPRISES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10339 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.09pt\"></span></span><span class=\"ps19757\">43<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10340 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.84pt\"></span></span><span class=\"ps30666\">88<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">En d\u00e9cembre 2025, Valeo a c\u00e9d\u00e9 sa participation minoritaire de 36,5 % dans la coentreprise Faw-Valeo Climate Control Systems</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:396.04pt\">Co. Ltd, op\u00e9rant en Chine. Dans ses \u00e9tats financiers consolid\u00e9s au 30 juin 2025, le Groupe avait d\u00e9pr\u00e9ci\u00e9 </span><span class=\"f charStyle-165dec60 ps20961\" style=\"width:85.3pt\">la valeur des titres mis</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:105.67pt\">en \u00e9quivalence de la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps30670\" style=\"width:327.38pt\"> sur la base du prix de cession pr\u00e9vu par le protocole d'accord relatif \u00e0 cette transaction.</span></div><div class=\"ps30674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.3<span id=\"ib6cee7d98ba247f6ae704801ee6f6246\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30673\"><span style=\"display:inline-block;height:8.22pt;width:7.2pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Donn\u00e9es financi\u00e8res des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:210.89pt\">Les donn\u00e9es sont pr\u00e9sent\u00e9es \u00e0 100 % et en normes IFRS.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30675\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">Les donn\u00e9es des entreprises associ\u00e9es et des coentreprises mises en \u00e9quivalence sont pr\u00e9sent\u00e9es de mani\u00e8re agr\u00e9g\u00e9e en raison</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps14155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:238.53pt\">du\u00a0caract\u00e8re individuellement non significatif de chaque entit\u00e9.</span></div><div class=\"ps30676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Entreprises associ\u00e9es<span id=\"ibb0a0fa5c5264555ba337f02de88043e\"></span></span></div><div class=\"ps5025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:295.35pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des entreprises associ\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30681 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.16pt\"></span></span><span class=\"ps27977\">38<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.26pt\"></span></span><span class=\"ps30677\">44<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.82pt\"></span></span><span class=\"ps30678\">68<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.97pt\"></span></span><span class=\"ps30679\">78<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.29pt\"></span></span><span class=\"ps30680\">(7)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.51pt\"></span></span><span class=\"ps23528\">(45)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.05pt\"></span></span><span class=\"ps20621\">(57)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30685 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.72pt\"></span></span><span class=\"ps2611\">287<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.02pt\"></span></span><span class=\"ps30682\">313<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.71pt\"></span></span><span class=\"ps30683\">(280)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.27pt\"></span></span><span class=\"ps30684\">(302)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">C<span id=\"i2491344f02b64580a8b4c047fe0dab9e\"></span></span><span class=\"f charStyle-aa33f529 ps30686\">oentreprises</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:266.92pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des coentreprises sont les suivantes\u00a0:</span></div><div class=\"ps30695 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps27733\">31\u00a0d\u00e9cembre 2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.83pt\"></span></span><span class=\"ps30687\">137<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.26pt\"></span></span><span class=\"ps30688\">150<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.79pt\"></span></span><span class=\"ps30689\">269<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.42pt\"></span></span><span class=\"ps30690\">306<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.5pt\"></span></span><span class=\"ps30691\">(24)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(25)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.54pt\"></span></span><span class=\"ps30693\">(315)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.28pt\"></span></span><span class=\"ps30694\">(324)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30699 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">519<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">651<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.26pt\"></span></span><span class=\"ps30697\">(542)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.67pt\"></span></span><span class=\"ps30698\">(632)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.4<span id=\"id44eaf74946b42bebe1c013c73cd8b00\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30700\"><span style=\"display:inline-block;height:8.22pt;width:6.38pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Transactions avec les entreprises mises en \u00e9quivalence (parties li\u00e9es)</span></div><div class=\"ps30702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les comptes consolid\u00e9s incluent des op\u00e9rations effectu\u00e9es par le Groupe dans le cadre normal de ses activit\u00e9s avec les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:391.74pt\">entreprises associ\u00e9es et les coentreprises. Ces transactions se font \u00e0 des conditions normales de march\u00e9.</span></div><div class=\"ps30704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les entreprises associ\u00e9es<span id=\"ie435d98af34f4abba80f704d624da975\"></span></span></div><div class=\"ps30706 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.92pt\"></span></span><span class=\"ps883\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.91pt\"></span></span><span class=\"ps30705\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30709 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.5pt\"></span></span><span class=\"ps20357\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.69pt\"></span></span><span class=\"ps29563\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.05pt\"></span></span><span class=\"ps30708\">(41)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30710 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les coentreprises<span id=\"ia2247e92d8894838bfc50d8a3ac7fddf\"></span></span></div><div class=\"ps30716 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.8pt\"></span></span><span class=\"ps30711\">47<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.96pt\"></span></span><span class=\"ps28410\">42<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">(10)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.22pt\"></span></span><span class=\"ps23632\">(18)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30712 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30713 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.9pt\"></span></span><span class=\"ps30259\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30715 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.35pt\"></span></span><span class=\"ps30714\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30720 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.51pt\"></span></span><span class=\"ps30717\">112<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.55pt\"></span></span><span class=\"ps30718\">104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.59pt\"></span></span><span class=\"ps30719\">(71)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div id=\"i2875f4fbc551449b952701acfd85d7df_1006\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i722fbe0fc23942288684937b5ee0cbf0\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">14<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35545\"><span style=\"display:inline-block;height:13.55pt;width:29.68pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Liste </span><span class=\"f charStyle-26f8f9e5 ps35546\">des soci\u00e9t\u00e9s consolid\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps35609 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">EUROPE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">FRANCE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (soci\u00e9t\u00e9 m\u00e8re)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">SC2N </span><span class=\"f charStyle-4da12822 ps35557\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Embrayages</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management\u00a0 (ex-Valeo Bayen) </span><span class=\"f charStyle-4da12822 ps35562\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services </span><span class=\"f charStyle-4da12822 ps35565\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Comfort and Driving Assistance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo \u00c9lectrification</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes d\u2019Essuyage<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes Thermiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power France </span><span class=\"f charStyle-4da12822 ps35580\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 22 <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo ExpertIn<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35587\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ESPAGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Termico, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ITALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Italia, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0</span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35612 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.</span></div><div class=\"ps35613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.</span></div><div class=\"ps35614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.</span></div><div class=\"ps4730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.</span></div><div class=\"ps4731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.</span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">ALLEMAGNE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Auto-Electric GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35616\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35618\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Holding GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35621\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Klimasysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35622\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Schalter und Sensoren GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35623\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Service Deutschland GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35624\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Wischersysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35625\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Telematik und Akustik GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35626\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Germany GmbH </span><span class=\"f charStyle-4da12822 ps35627\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive BSAES Holding GmbH </span><span class=\"f charStyle-4da12822 ps35628\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE Verwaltungs GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35629\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Powertrain GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35630\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive systems GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35631\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive M\u00f6ve GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35632\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">gestigon GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35633\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems GmbH </span><span class=\"f charStyle-4da12822 ps35634\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROYAUME-UNI</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (UK) Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Climate Control Limited </span><span class=\"f charStyle-4da12822 ps35635\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services UK Limited </span><span class=\"f charStyle-4da12822 ps35639\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Air Management UK Limited </span><span class=\"f charStyle-4da12822 ps35640\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">IRLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Connaught Electronics Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">HI-KEY Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh Holding Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35652 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35655 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35657 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35659 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BELGIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">LUXEMBOURG</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Coreval<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">PAYS-BAS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sub-Holdings C.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Holding Netherlands B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo International Holding B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Lucia Technologies B.V. <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">R\u00c9PUBLIQUE TCH\u00c8QUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autoklimatizace k.s.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor Europe s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vymeniky Tepla s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Czechia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems s.r.o </span><span class=\"f charStyle-4da12822 ps35660\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">SLOVAQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Slovakia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">POLOGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autosystemy Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Electric and Electronic Systems Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Eastern Europe Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">HONGRIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto-Electric Hungary LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Hungary Kft.</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROUMANIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Injection SA<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sisteme Termice S.R.L.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps547 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">RUSSIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35661 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Technology Rus Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35662 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35663 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35664 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35665 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35666 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35667 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35668 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35669 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35670 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TURQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Otomotiv Sanayi ve Ticaret AS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AFRIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TUNISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Embrayages Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MAROC</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Maroc, S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9GYPTE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Internal Automotive Software Egypt<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Detection Systems LLC <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AFRIQUE DU SUD</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Systems South Africa (Proprietary) Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Thermal Systems East London (Pty) Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25656\">51<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU NORD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9TATS-UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Radar Systems, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35681 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps10484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">CANADA<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Canada, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MEXIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Delmex de Juarez, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotrices de M\u00e9xico, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electricos, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electronicos, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mexico Tech Center, SA de CV <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Telematica y Acustica, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE Mexicana, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BR\u00c9SIL</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotivos Ltda<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">ASIE PACIFIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">THA\u00cfLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Siam Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Comfort and Driving Assistance Systems (Thailand)\u00a0Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25973\">61<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps17125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35685 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35686 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35689 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">COR\u00c9E DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive Korea Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Electrical Systems Korea Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong Hwa Automotive Components Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Samsung Thermal Systems Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong HWA Metals Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Kapec Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems Korea Co. Ltd </span><span class=\"f charStyle-4da12822 ps35692\"><sup>(4)</sup></span><span class=\"f charStyle-044fe383 ps35693\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo PHC Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Korea Co. Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC High Voltage Systems Co., Ltd. </span><span class=\"f charStyle-4da12822 ps35694\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps35695\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDON\u00c9SIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT Valeo AC Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">PT VPH Asean Transmission</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT. Ichikoh Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MALAISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Malaysia SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh (Malaysia) SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Malaysia CDA SDN.BHD. </span><span class=\"f charStyle-4da12822 ps35697\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">EMIRATS ARABES UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Middle East Aftermarket FZE (ex-Valeo Thermal </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Commercial Vehicles Middle East FZE) </span><span class=\"f charStyle-4da12822 ps35698\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16748 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AUSTRALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16754 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Australia PTY Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35699 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35700 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35701 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35702 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35706 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35707 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35708 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35709 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">JAPON<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Kyushu Ichikoh Industries. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Japan Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Japan K,K<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">CHINE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Faw-Valeo Climate Control Systems Co. Ltd </span><span class=\"f charStyle-4da12822 ps35711\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35712\">36,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Ichikoh Valeo Auto Lighting Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Guangzhou Valeo Engine Cooling Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Huada Automotive Air Conditioner (Hunan) Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Nanjing Valeo Clutch Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Shanghai Valeo Automotive Electrical Systems Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Pyeong-Hwa Transmission Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Taizhou Valeo Wenling Automotive Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto Parts Trading (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive Air Conditioning Hubei Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Torque Converters (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling (Foshan) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor (Changchun) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh (China) Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shenzhen) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Hubei Technical Center Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Management (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-0e45555a ps10\">Valeo Comfort Driving Assistance Systems (Guangzhou) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35716 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35717 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35719 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35720 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Shanghai Automotive Electric Motors &amp; Wiper </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Systems\u00a0Co.\u00a0Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35721 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps757 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps25232 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Wuxi Valeo Automotive Components and System Co., Ltd </span><span class=\"f charStyle-4da12822 ps35722\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35723 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16370 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25920 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25921 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Changshu Valeo Automotive Wiper System Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35724 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35725 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11132 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Pyeong Hwa International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35726 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35727 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25923 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25786 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Shenzhen) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35728 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35729 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25926 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25793 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive ePowertrain Systems (Shanghai) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35730 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35731 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25929 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3474 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Bluepark Automotive E-Drive Systems (Changzhou) Co. <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ltd. </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35732 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35734 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25932 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25934 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps792 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Valeo Electronic Auto Parts Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35735 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35736 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35737 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35738 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps793 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Powertrain (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35739 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35740 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps800 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35741 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps803 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo ePowertrain (Tianjin) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35742 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35743 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35744 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25820 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps804 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Changshu) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35745 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35746 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps812 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25826 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25441 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Fawer Valeo eAutomotive Parts Changshu <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35747 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35748 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35749 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25449 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10569 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power Technology (Nanjing) Co., Ltd (ex-FTE automotive </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">(Taicang) Co. Ltd)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35750 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35751 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35752 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25456 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3877 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Zhihui Valeo (Zhejiang) Auto Parts Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35753 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35754 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35755 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25464 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28407 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Systems (Shanghai\uff09Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35756 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35757 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35758 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35759 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28413 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems (Shenzhen) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35760 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35761 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35762 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35763 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3907 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Special Products eAutomotive Lighting (Changshu) Co., </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35764 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35765 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35766 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35767 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10608 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35768 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Amalgamations Valeo Clutch Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35770 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35771 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35772 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35773 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials India Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35774 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35775 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35776 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35777 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps542 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo India Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35778 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35780 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35781 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35782 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35785 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div>entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-430": {
   "value": "<div class=\"ps29609 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29596\">3.1.1.2<span id=\"iafe3fcdee4f24ee7be3c5728d91001c9\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29608\"><span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29598\">Mise en \u00e9quivalence des\u00a0coentreprises </span></span></div><div class=\"ps29611 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29610\">et\u00a0des entreprises associ\u00e9es</span></div><div class=\"ps13611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.99pt\">Des contrats de partenariat organisent le contr\u00f4le d\u2019une</span><span class=\"f charStyle-b2f078f6 ps412\" style=\"width:1.83pt\"> </span></div><div class=\"ps13613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:28.49pt\">soci\u00e9t\u00e9 </span><span class=\"f charStyle-81993cb5 ps29612\" style=\"width:189.47pt\">et pr\u00e9voient un contr\u00f4le conjoint d\u2019au moins deux</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps13614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:43.27pt\">partenaires.</span><span class=\"f charStyle-165dec60 ps29613\" style=\"width:2.45pt\"> </span><span class=\"f charStyle-9c680f66 ps29614\" style=\"width:172.26pt\">Un partenariat dans lequel les parties ont des</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:63.34pt\">droits sur l\u2019actif</span><span class=\"f charStyle-165dec60 ps29615\" style=\"width:154.64pt\"> net est appel\u00e9 \u00ab\u00a0coentreprise\u00a0\u00bb. Un</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">partenariat dans lequel les parties ont des droits sur les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:105.91pt\">actifs, et des obligations au </span><span class=\"f charStyle-c8069515 ps29616\" style=\"width:112.07pt\">titre des passifs du partenariat</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:114.05pt\">est appel\u00e9 \u00ab\u00a0activit\u00e9 conjointe\u00a0\u00bb.</span></div><div class=\"ps13622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.96pt\">Valeo exerce \u00e9galement une influence notable dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps608\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:33.85pt\">certaines</span><span class=\"f charStyle-165dec60 ps29617\" style=\"width:184.11pt\"> soci\u00e9t\u00e9s, appel\u00e9es entreprises associ\u00e9es.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">L\u2019influence notable se caract\u00e9rise par le pouvoir de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">participer aux d\u00e9cisions relatives aux politiques</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">financi\u00e8res et op\u00e9rationnelles de la soci\u00e9t\u00e9, sans toutefois</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">contr\u00f4ler ou contr\u00f4ler conjointement ces politiques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">L\u2019influence notable est pr\u00e9sum\u00e9e lorsque plus de 20\u00a0%</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des droits de vote sont d\u00e9tenus. Ces coentreprises et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29620 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">entreprises associ\u00e9es sont comptabilis\u00e9es selon la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29621 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">m\u00e9thode de la mise en \u00e9quivalence. Cette m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29622 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">consiste \u00e0 enregistrer, \u00e0 la date \u00e0 laquelle la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">devient une entreprise associ\u00e9e ou une coentreprise, une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">participation dans les soci\u00e9t\u00e9s mises en \u00e9quivalence dans</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:156.96pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e.</span><span class=\"f charStyle-165dec60 ps29625\" style=\"width:1.96pt\"> </span></div><div class=\"ps11398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Cette participation est initialement comptabilis\u00e9e au co\u00fbt</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps11400 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">d\u2019acquisition. Au cas sp\u00e9cifique d\u2019une perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps14146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.99pt\">d\u2019une filiale emportant la comptabilisation d\u2019une</span><span class=\"f charStyle-4afdd138 ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps14147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:47.32pt\">participation</span><span class=\"f charStyle-165dec60 ps29626\" style=\"width:170.67pt\"> dans une coentreprise ou dans une</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">entreprise associ\u00e9e, le co\u00fbt initial de cette participation</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">est \u00e9gal \u00e0 sa juste valeur \u00e0 la date de la perte de contr\u00f4le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">conform\u00e9ment \u00e0 IFRS 10.25. Elle est ensuite ajust\u00e9e apr\u00e8s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps19419 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">la date d\u2019acquisition de la quote-part du Groupe dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps19422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">r\u00e9sultat global non distribu\u00e9 de l\u2019entreprise d\u00e9tenue. Ces</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">r\u00e9sultats peuvent \u00eatre retrait\u00e9s pour une mise en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:174.79pt\">conformit\u00e9 avec les principes comptables </span><span class=\"f charStyle-7cdffd50 ps29627\" style=\"width:43.2pt\">du Groupe.</span><span class=\"f charStyle-7cdffd50 ps412\" style=\"width:1.77pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps6588\" style=\"width:15.06pt\">Le\u00a0</span><span class=\"f charStyle-d7795f5b ps29628\" style=\"width:30.71pt\">goodwill</span><span class=\"f charStyle-7cdffd50 ps29629\" style=\"width:172.19pt\"> se rapportant \u00e0 l\u2019acquisition d\u2019entreprises</span><span class=\"f charStyle-b2f078f6 ps608\" style=\"width:1.83pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">associ\u00e9es ou de coentreprises est inclus dans la ligne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.59pt\">\u00ab\u00a0Participations</span><span class=\"f charStyle-b2f078f6 ps29630\" style=\"width:149.11pt\"> dans les soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps19434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.99pt\">Les modalit\u00e9s d\u2019\u00e9valuation des participations dans les</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps29633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:32.27pt\">soci\u00e9t\u00e9s </span><span class=\"f charStyle-165dec60 ps29632\" style=\"width:185.7pt\">mises en \u00e9quivalence sont r\u00e9gies par les normes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">IFRS 9 \u00ab\u00a0Instruments financiers\u00a0: comptabilisation et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62.17pt\">\u00e9valuation \u00bb et </span><span class=\"f charStyle-9206869b ps12826\" style=\"width:155.78pt\">IAS 28 r\u00e9vis\u00e9e \u00ab\u00a0Participations dans des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:78.2pt\">entreprises associ\u00e9es</span><span class=\"f charStyle-165dec60 ps29636\" style=\"width:84.87pt\"> et des coentreprises\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps29637\" style=\"width:1.96pt\"> </span></div><div class=\"ps29639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les pertes de valeur susceptibles d\u2019\u00eatre comptabilis\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">sur les participations des soci\u00e9t\u00e9s mises en \u00e9quivalence,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">ainsi que le profit ou la perte li\u00e9s \u00e0 la r\u00e9\u00e9valuation \u00e0 sa</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">juste valeur de la quote-part ant\u00e9rieurement d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29643 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">(lors de la prise de contr\u00f4le d\u2019une soci\u00e9t\u00e9 mise en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00e9quivalence) sont enregistr\u00e9s sur la ligne \u00ab\u00a0Quote-part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:202.2pt\">dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence\u00a0\u00bb.</span></div><div class=\"ps29647 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.19pt\">La liste des soci\u00e9t\u00e9s consolid\u00e9es est pr\u00e9sent\u00e9e en </span><span class=\"f charStyle-165dec60 ps29646\" style=\"width:28.2pt\">Note 14</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.42pt\">pages 450 \u00e0 457 .</span></div><div class=\"ps30621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.3<span id=\"i22210b0c2cfe4101a0f1619a6177d5a3\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30620\"><span style=\"display:inline-block;height:8.71pt;width:13.3pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Entreprises associ\u00e9es et coentreprises</span></div><div class=\"ps30622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.1<span id=\"i3a0cd2b6293d43de9baae091725610cd\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps17328\"><span style=\"display:inline-block;height:8.22pt;width:8.9pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Toutes les participations comptabilis\u00e9es selon la m\u00e9thode de la mise en \u00e9quivalence, qu\u2019il s\u2019agisse des coentreprises ou des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps2658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">entreprises associ\u00e9es, s\u2019inscrivent dans le prolongement de l\u2019activit\u00e9 op\u00e9rationnelle du Groupe et sont rattach\u00e9es \u00e0 l'un de ses</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">trois secteurs op\u00e9rationnels. Elles sont int\u00e9gr\u00e9es dans le reporting interne du Groupe au sens de la norme IFRS\u00a08 et leur</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps2660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:368.81pt\">performance op\u00e9rationnelle est suivie au niveau de chaque Division \u00e0 laquelle elles appartiennent.</span></div><div class=\"ps30629 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.42pt\"></span></span><span class=\"ps30603\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.4pt\"></span></span><span class=\"ps19256\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.33pt\"></span></span><span class=\"ps28284\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Shanghai Valeo Automotive Electrical Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.99pt\"></span></span><span class=\"ps28391\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Faw-Valeo Climate Control Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-f573b8b5 ps10\">QUOTE-PART DANS LES R\u00c9SULTATS DES ENTREPRISES MISES EN \u00c9QUIVALENCE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.48pt\"></span></span><span class=\"ps30627\">(20)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.2<span id=\"i9b3405a938e14d96a66521a97ea4a3eb\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30630\"><span style=\"display:inline-block;height:8.22pt;width:7.22pt\"></span></span><span class=\"ps29285\">Participations dans les soci\u00e9t\u00e9s mises en \u00e9quivalence</span></span></div><div class=\"ps30632 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les entreprises associ\u00e9es<span id=\"i454fdff3cb1a40b4bda26c32ae43bf83\"></span></span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:341.01pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les entreprises associ\u00e9es\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30640 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 1</span><span class=\"f charStyle-f4bb8995 ps30633\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps20641\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.72pt\"></span></span><span class=\"ps30634\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.26pt\"></span></span><span class=\"ps18578\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:271.59pt\">Les participations dans les entreprises associ\u00e9es sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.91pt\"></span></span><span class=\"ps30645\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.94pt\"></span></span><span class=\"ps30646\">13<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30647 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES ENTREPRISES ASSOCI\u00c9ES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">21<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.88pt\"></span></span><span class=\"ps7626\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30648 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les coentreprises<span id=\"i45a5d8663d924b43a3a64770174f4c10\"></span></span></div><div class=\"ps30649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:312.58pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les coentreprises\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30657 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 1</span><span class=\"f charStyle-f4bb8995 ps30650\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30651\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Quote-part dans les r\u00e9sultats des coentreprises</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.53pt\"></span></span><span class=\"ps30265\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Variations de p\u00e9rim\u00e8tre</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres mouvements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.07pt\"></span></span><span class=\"ps30655\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.69pt\"></span></span><span class=\"ps30656\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.34pt\"></span></span><span class=\"ps28303\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:243.16pt\">Les participations dans les coentreprises sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps30667 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Automotive Electrical <span class=\"f ps53\"> </span></span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-a696f64a ps10\">Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.38pt\"></span></span><span class=\"ps3134\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.39pt\"></span></span><span class=\"ps30658\">32<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23546 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-044fe383 ps10\">Fawer Valeo eAutomotive Parts </span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-044fe383 ps10\">(Changshu)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30660 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30661 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30662 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">19<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29320 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10289 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-2d4711d3 ps10\">Faw-Valeo Climate Control Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10328 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.66pt\"></span></span><span class=\"ps30664\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10329 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.55pt\"></span></span><span class=\"ps26141\">36,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10330 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10331 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10332 ss673\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10333 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10334 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10335 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10336 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps9780 ss517\"><div><div class=\"ps509 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES COENTREPRISES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10339 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.09pt\"></span></span><span class=\"ps19757\">43<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10340 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.84pt\"></span></span><span class=\"ps30666\">88<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">En d\u00e9cembre 2025, Valeo a c\u00e9d\u00e9 sa participation minoritaire de 36,5 % dans la coentreprise Faw-Valeo Climate Control Systems</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:396.04pt\">Co. Ltd, op\u00e9rant en Chine. Dans ses \u00e9tats financiers consolid\u00e9s au 30 juin 2025, le Groupe avait d\u00e9pr\u00e9ci\u00e9 </span><span class=\"f charStyle-165dec60 ps20961\" style=\"width:85.3pt\">la valeur des titres mis</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:105.67pt\">en \u00e9quivalence de la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps30670\" style=\"width:327.38pt\"> sur la base du prix de cession pr\u00e9vu par le protocole d'accord relatif \u00e0 cette transaction.</span></div><div class=\"ps30674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.3<span id=\"ib6cee7d98ba247f6ae704801ee6f6246\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30673\"><span style=\"display:inline-block;height:8.22pt;width:7.2pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Donn\u00e9es financi\u00e8res des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:210.89pt\">Les donn\u00e9es sont pr\u00e9sent\u00e9es \u00e0 100 % et en normes IFRS.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30675\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">Les donn\u00e9es des entreprises associ\u00e9es et des coentreprises mises en \u00e9quivalence sont pr\u00e9sent\u00e9es de mani\u00e8re agr\u00e9g\u00e9e en raison</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps14155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:238.53pt\">du\u00a0caract\u00e8re individuellement non significatif de chaque entit\u00e9.</span></div><div class=\"ps30676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Entreprises associ\u00e9es<span id=\"ibb0a0fa5c5264555ba337f02de88043e\"></span></span></div><div class=\"ps5025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:295.35pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des entreprises associ\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30681 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.16pt\"></span></span><span class=\"ps27977\">38<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.26pt\"></span></span><span class=\"ps30677\">44<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.82pt\"></span></span><span class=\"ps30678\">68<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.97pt\"></span></span><span class=\"ps30679\">78<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.29pt\"></span></span><span class=\"ps30680\">(7)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.51pt\"></span></span><span class=\"ps23528\">(45)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.05pt\"></span></span><span class=\"ps20621\">(57)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30685 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.72pt\"></span></span><span class=\"ps2611\">287<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.02pt\"></span></span><span class=\"ps30682\">313<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.71pt\"></span></span><span class=\"ps30683\">(280)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.27pt\"></span></span><span class=\"ps30684\">(302)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">C<span id=\"i2491344f02b64580a8b4c047fe0dab9e\"></span></span><span class=\"f charStyle-aa33f529 ps30686\">oentreprises</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:266.92pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des coentreprises sont les suivantes\u00a0:</span></div><div class=\"ps30695 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps27733\">31\u00a0d\u00e9cembre 2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.83pt\"></span></span><span class=\"ps30687\">137<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.26pt\"></span></span><span class=\"ps30688\">150<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.79pt\"></span></span><span class=\"ps30689\">269<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.42pt\"></span></span><span class=\"ps30690\">306<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.5pt\"></span></span><span class=\"ps30691\">(24)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(25)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.54pt\"></span></span><span class=\"ps30693\">(315)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.28pt\"></span></span><span class=\"ps30694\">(324)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30699 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">519<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">651<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.26pt\"></span></span><span class=\"ps30697\">(542)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.67pt\"></span></span><span class=\"ps30698\">(632)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.4<span id=\"id44eaf74946b42bebe1c013c73cd8b00\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30700\"><span style=\"display:inline-block;height:8.22pt;width:6.38pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Transactions avec les entreprises mises en \u00e9quivalence (parties li\u00e9es)</span></div><div class=\"ps30702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les comptes consolid\u00e9s incluent des op\u00e9rations effectu\u00e9es par le Groupe dans le cadre normal de ses activit\u00e9s avec les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:391.74pt\">entreprises associ\u00e9es et les coentreprises. Ces transactions se font \u00e0 des conditions normales de march\u00e9.</span></div><div class=\"ps30704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les entreprises associ\u00e9es<span id=\"ie435d98af34f4abba80f704d624da975\"></span></span></div><div class=\"ps30706 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.92pt\"></span></span><span class=\"ps883\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.91pt\"></span></span><span class=\"ps30705\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30709 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.5pt\"></span></span><span class=\"ps20357\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.69pt\"></span></span><span class=\"ps29563\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.05pt\"></span></span><span class=\"ps30708\">(41)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30710 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les coentreprises<span id=\"ia2247e92d8894838bfc50d8a3ac7fddf\"></span></span></div><div class=\"ps30716 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.8pt\"></span></span><span class=\"ps30711\">47<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.96pt\"></span></span><span class=\"ps28410\">42<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">(10)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.22pt\"></span></span><span class=\"ps23632\">(18)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30712 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30713 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.9pt\"></span></span><span class=\"ps30259\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30715 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.35pt\"></span></span><span class=\"ps30714\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30720 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.51pt\"></span></span><span class=\"ps30717\">112<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.55pt\"></span></span><span class=\"ps30718\">104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.59pt\"></span></span><span class=\"ps30719\">(71)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div id=\"i2875f4fbc551449b952701acfd85d7df_1006\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i722fbe0fc23942288684937b5ee0cbf0\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">14<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35545\"><span style=\"display:inline-block;height:13.55pt;width:29.68pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Liste </span><span class=\"f charStyle-26f8f9e5 ps35546\">des soci\u00e9t\u00e9s consolid\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps35609 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">EUROPE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">FRANCE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (soci\u00e9t\u00e9 m\u00e8re)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">SC2N </span><span class=\"f charStyle-4da12822 ps35557\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Embrayages</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management\u00a0 (ex-Valeo Bayen) </span><span class=\"f charStyle-4da12822 ps35562\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services </span><span class=\"f charStyle-4da12822 ps35565\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Comfort and Driving Assistance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo \u00c9lectrification</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes d\u2019Essuyage<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes Thermiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power France </span><span class=\"f charStyle-4da12822 ps35580\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 22 <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo ExpertIn<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35587\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ESPAGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Termico, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ITALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Italia, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0</span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35612 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.</span></div><div class=\"ps35613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.</span></div><div class=\"ps35614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.</span></div><div class=\"ps4730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.</span></div><div class=\"ps4731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.</span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">ALLEMAGNE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Auto-Electric GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35616\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35618\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Holding GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35621\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Klimasysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35622\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Schalter und Sensoren GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35623\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Service Deutschland GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35624\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Wischersysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35625\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Telematik und Akustik GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35626\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Germany GmbH </span><span class=\"f charStyle-4da12822 ps35627\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive BSAES Holding GmbH </span><span class=\"f charStyle-4da12822 ps35628\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE Verwaltungs GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35629\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Powertrain GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35630\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive systems GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35631\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive M\u00f6ve GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35632\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">gestigon GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35633\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems GmbH </span><span class=\"f charStyle-4da12822 ps35634\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROYAUME-UNI</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (UK) Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Climate Control Limited </span><span class=\"f charStyle-4da12822 ps35635\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services UK Limited </span><span class=\"f charStyle-4da12822 ps35639\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Air Management UK Limited </span><span class=\"f charStyle-4da12822 ps35640\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">IRLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Connaught Electronics Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">HI-KEY Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh Holding Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35652 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35655 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35657 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35659 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BELGIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">LUXEMBOURG</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Coreval<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">PAYS-BAS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sub-Holdings C.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Holding Netherlands B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo International Holding B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Lucia Technologies B.V. <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">R\u00c9PUBLIQUE TCH\u00c8QUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autoklimatizace k.s.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor Europe s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vymeniky Tepla s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Czechia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems s.r.o </span><span class=\"f charStyle-4da12822 ps35660\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">SLOVAQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Slovakia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">POLOGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autosystemy Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Electric and Electronic Systems Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Eastern Europe Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">HONGRIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto-Electric Hungary LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Hungary Kft.</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROUMANIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Injection SA<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sisteme Termice S.R.L.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps547 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">RUSSIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35661 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Technology Rus Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35662 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35663 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35664 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35665 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35666 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35667 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35668 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35669 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35670 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TURQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Otomotiv Sanayi ve Ticaret AS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AFRIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TUNISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Embrayages Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MAROC</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Maroc, S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9GYPTE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Internal Automotive Software Egypt<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Detection Systems LLC <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AFRIQUE DU SUD</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Systems South Africa (Proprietary) Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Thermal Systems East London (Pty) Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25656\">51<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU NORD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9TATS-UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Radar Systems, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35681 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps10484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">CANADA<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Canada, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MEXIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Delmex de Juarez, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotrices de M\u00e9xico, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electricos, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electronicos, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mexico Tech Center, SA de CV <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Telematica y Acustica, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE Mexicana, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BR\u00c9SIL</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotivos Ltda<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">ASIE PACIFIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">THA\u00cfLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Siam Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Comfort and Driving Assistance Systems (Thailand)\u00a0Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25973\">61<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps17125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35685 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35686 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35689 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">COR\u00c9E DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive Korea Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Electrical Systems Korea Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong Hwa Automotive Components Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Samsung Thermal Systems Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong HWA Metals Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Kapec Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems Korea Co. Ltd </span><span class=\"f charStyle-4da12822 ps35692\"><sup>(4)</sup></span><span class=\"f charStyle-044fe383 ps35693\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo PHC Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Korea Co. Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC High Voltage Systems Co., Ltd. </span><span class=\"f charStyle-4da12822 ps35694\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps35695\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDON\u00c9SIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT Valeo AC Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">PT VPH Asean Transmission</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT. Ichikoh Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MALAISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Malaysia SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh (Malaysia) SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Malaysia CDA SDN.BHD. </span><span class=\"f charStyle-4da12822 ps35697\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">EMIRATS ARABES UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Middle East Aftermarket FZE (ex-Valeo Thermal </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Commercial Vehicles Middle East FZE) </span><span class=\"f charStyle-4da12822 ps35698\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16748 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AUSTRALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16754 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Australia PTY Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35699 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35700 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35701 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35702 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35706 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35707 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35708 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35709 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">JAPON<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Kyushu Ichikoh Industries. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Japan Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Japan K,K<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">CHINE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Faw-Valeo Climate Control Systems Co. Ltd </span><span class=\"f charStyle-4da12822 ps35711\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35712\">36,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Ichikoh Valeo Auto Lighting Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Guangzhou Valeo Engine Cooling Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Huada Automotive Air Conditioner (Hunan) Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Nanjing Valeo Clutch Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Shanghai Valeo Automotive Electrical Systems Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Pyeong-Hwa Transmission Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Taizhou Valeo Wenling Automotive Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto Parts Trading (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive Air Conditioning Hubei Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Torque Converters (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling (Foshan) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor (Changchun) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh (China) Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shenzhen) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Hubei Technical Center Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Management (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-0e45555a ps10\">Valeo Comfort Driving Assistance Systems (Guangzhou) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35716 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35717 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35719 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35720 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Shanghai Automotive Electric Motors &amp; Wiper </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Systems\u00a0Co.\u00a0Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35721 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps757 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps25232 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Wuxi Valeo Automotive Components and System Co., Ltd </span><span class=\"f charStyle-4da12822 ps35722\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35723 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16370 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25920 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25921 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Changshu Valeo Automotive Wiper System Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35724 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35725 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11132 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Pyeong Hwa International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35726 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35727 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25923 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25786 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Shenzhen) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35728 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35729 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25926 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25793 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive ePowertrain Systems (Shanghai) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35730 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35731 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25929 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3474 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Bluepark Automotive E-Drive Systems (Changzhou) Co. <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ltd. </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35732 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35734 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25932 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25934 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps792 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Valeo Electronic Auto Parts Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35735 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35736 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35737 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35738 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps793 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Powertrain (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35739 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35740 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps800 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35741 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps803 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo ePowertrain (Tianjin) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35742 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35743 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35744 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25820 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps804 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Changshu) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35745 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35746 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps812 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25826 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25441 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Fawer Valeo eAutomotive Parts Changshu <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35747 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35748 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35749 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25449 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10569 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power Technology (Nanjing) Co., Ltd (ex-FTE automotive </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">(Taicang) Co. Ltd)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35750 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35751 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35752 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25456 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3877 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Zhihui Valeo (Zhejiang) Auto Parts Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35753 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35754 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35755 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25464 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28407 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Systems (Shanghai\uff09Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35756 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35757 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35758 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35759 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28413 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems (Shenzhen) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35760 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35761 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35762 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35763 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3907 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Special Products eAutomotive Lighting (Changshu) Co., </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35764 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35765 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35766 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35767 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10608 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35768 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Amalgamations Valeo Clutch Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35770 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35771 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35772 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35773 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials India Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35774 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35775 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35776 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35777 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps542 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo India Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35778 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35780 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35781 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35782 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35785 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div>entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-436": {
   "value": "<div class=\"ps29599 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29649\">3.1.2<span id=\"i578675c6034c4c82affc3dd05f53a2ad\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29650\"><span style=\"display:inline-block;height:8.71pt;width:15.17pt\"></span></span><span class=\"ps29651\">M\u00e9thodes de conversion</span></span></div><div class=\"ps29601 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29652\">3.1.2.1<span id=\"i4d407a1cf8324c8e9304fa8ef97cd635\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29653\"><span style=\"display:inline-block;height:8.22pt;width:10.67pt\"></span></span><span class=\"ps29654\">Conversion des \u00e9tats financiers libell\u00e9s </span></span></div><div class=\"ps29655 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29651\">en\u00a0devises \u00e9trang\u00e8res</span></div><div class=\"ps16137 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:217.97pt\">Les comptes consolid\u00e9s du Groupe sont pr\u00e9sent\u00e9s en</span><span class=\"f charStyle-9c680f66 ps16278\" style=\"width:1.93pt\"> </span></div><div class=\"ps2111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:20.78pt\">euros</span><span class=\"f charStyle-165dec60 ps29656\" style=\"width:1.59pt\">.</span></div><div class=\"ps7096 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les \u00e9tats financiers de chacune des soci\u00e9t\u00e9s consolid\u00e9es</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps26551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">du\u00a0Groupe sont pr\u00e9par\u00e9s dans la monnaie fonctionnelle,</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-4afdd138 ps6329\" style=\"width:213.77pt\">\u2019est\u2011\u00e0\u2011dire dans la monnaie de l\u2019environnement</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:47.23pt\">\u00e9conomique</span><span class=\"f charStyle-165dec60 ps29657\" style=\"width:6.36pt\"> </span><span class=\"f charStyle-5064d44f ps29658\" style=\"width:164.38pt\">principal dans lequel elle op\u00e8re et qui</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:85.3pt\">correspond, en g\u00e9n\u00e9ral</span><span class=\"f charStyle-165dec60 ps29659\" style=\"width:77.51pt\">, \u00e0 la monnaie locale.</span><span class=\"f charStyle-165dec60 ps29660\" style=\"width:1.96pt\"> </span></div><div class=\"ps8378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les \u00e9tats financiers des soci\u00e9t\u00e9s dont la monnaie</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">fonctionnelle n\u2019est pas l\u2019euro sont convertis en euros<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:95.12pt\">comme indiqu\u00e9 ci\u2011apr\u00e8s\u00a0:</span></div><div class=\"ps8380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">les postes de l\u2019\u00e9tat de la situation financi\u00e8re sont</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps8381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">convertis en euros sur la base des cours de change\u00a0 en</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:154.4pt\">vigueur \u00e0 la date de cl\u00f4ture de l\u2019exercice\u00a0;</span></div><div class=\"ps16153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">les postes du compte de r\u00e9sultat sont convertis en euros</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16154 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">au cours de change aux dates de transaction ou en</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps16155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">pratique, au cours moyen de la p\u00e9riode tant que celui-ci</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">n\u2019est pas remis en cause par des \u00e9volutions significatives</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps29664 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:39.4pt\">des cours\u00a0;</span></div><div class=\"ps29665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">les gains et pertes latents r\u00e9sultant de la conversion des</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">\u00e9tats financiers des soci\u00e9t\u00e9s \u00e9trang\u00e8res sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29667 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">comptabilis\u00e9s dans les autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">global recyclables en r\u00e9sultat sur la ligne \u00ab\u00a0\u00c9carts de</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps29670 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:48.14pt\">conversion\u00a0\u00bb.</span></div><div class=\"ps4055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe applique les dispositions de la norme IAS 29</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4057 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00ab\u00a0Information financi\u00e8re dans les \u00e9conomies hyper-</span></div><div class=\"ps4059 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">inflationnistes\u00a0\u00bb aux soci\u00e9t\u00e9s dont la monnaie</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4060 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">fonctionnelle est consid\u00e9r\u00e9e comme \u00e9tant en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">hyperinflation. Les \u00e9tats financiers des soci\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">concern\u00e9es sont retrait\u00e9s des effets de l'inflation</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">(convention du co\u00fbt historique), ils sont ensuite convertis<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dans la monnaie de pr\u00e9sentation du Groupe au cours de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.13pt\">cl\u00f4ture.</span></div><div class=\"ps29676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29649\">3.1.2.2<span id=\"i046d55045fef469c86881459f310a5ab\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps29675\"><span style=\"display:inline-block;height:8.22pt;width:8.98pt\"></span></span><span class=\"ps29651\">Transactions en devises \u00e9trang\u00e8res</span></span></div><div class=\"ps29677 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Cas g\u00e9n\u00e9ral<span id=\"ieea20811e09e46a9837ca3c84a509e74\"></span></span></div><div class=\"ps29678 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les transactions r\u00e9alis\u00e9es par une soci\u00e9t\u00e9 dans une devise</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12562 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">autre que sa monnaie fonctionnelle sont converties au</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.77pt\">cours </span><span class=\"f charStyle-9c680f66 ps29679\" style=\"width:195.17pt\">de change en vigueur au moment de la transaction.</span><span class=\"f charStyle-9c680f66 ps16283\" style=\"width:1.93pt\"> </span></div><div class=\"ps8946 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:37.64pt\">Les actifs </span><span class=\"f charStyle-165dec60 ps29681\" style=\"width:180.31pt\">et passifs mon\u00e9taires exprim\u00e9s en devises sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">convertis au cours de cl\u00f4ture. Les actifs et passifs non</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">mon\u00e9taires libell\u00e9s en devises \u00e9trang\u00e8res sont</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps8952 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">comptabilis\u00e9s au cours historique en vigueur \u00e0 la date de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2843 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.63pt\">la transaction.</span></div><div class=\"ps29682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les diff\u00e9rences de change r\u00e9sultant de la conversion des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">transactions en devises sont g\u00e9n\u00e9ralement incluses dans</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.88pt\">le compte de r\u00e9sultat.</span></div><div class=\"ps29685 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Investissement net<span id=\"i0dcdf527617b4ab59dddeeaef5d7ba8b\"></span></span></div><div class=\"ps4802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.95pt\">Certains pr\u00eats et emprunts libell\u00e9s en devises \u00e9trang\u00e8res<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16281\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:16.23pt\">sont</span><span class=\"f charStyle-165dec60 ps29308\" style=\"width:201.73pt\"> consid\u00e9r\u00e9s, en substance, comme faisant partie</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">int\u00e9grante de l\u2019investissement net dans une filiale dont la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro, lorsque le</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps4809 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.12pt\">r\u00e8glement n\u2019est ni </span><span class=\"f charStyle-d96cb356 ps29686\" style=\"width:140.83pt\">planifi\u00e9, ni probable dans un avenir</span><span class=\"f charStyle-d96cb356 ps16281\" style=\"width:1.92pt\"> </span></div><div class=\"ps4810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps448\" style=\"width:95.29pt\">pr\u00e9visible. Les diff\u00e9rences</span><span class=\"f charStyle-165dec60 ps29687\" style=\"width:2.25pt\"> </span><span class=\"f charStyle-cea761f8 ps29688\" style=\"width:120.4pt\">de change relatives \u00e0 ces pr\u00eats et</span><span class=\"f charStyle-cea761f8 ps16283\" style=\"width:1.78pt\"> </span></div><div class=\"ps4811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:116.88pt\">emprunts sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps29689\" style=\"width:101.09pt\"> en autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global, dans les \u00e9carts de conversion, pour leur</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps4813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">montant net d\u2019imp\u00f4ts. Ce traitement sp\u00e9cifique</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4814 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">s\u2019applique jusqu\u2019\u00e0 la date de sortie d\u00e9finitive de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">l\u2019investissement net ou au moment o\u00f9 le remboursement</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">partiel ou total de ces emprunts ou dettes devient</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:39.17pt\">hautemen</span><span class=\"f charStyle-165dec60 ps29690\" style=\"width:40.49pt\">t probable.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps6588\" style=\"width:217.97pt\">\u00c0 compter de la date de d\u00e9qualification de l\u2019investissement</span><span class=\"f charStyle-858f3e4c ps418\" style=\"width:1.81pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps6588\" style=\"width:13.63pt\">net,</span><span class=\"f charStyle-165dec60 ps28153\" style=\"width:204.33pt\"> les \u00e9carts de conversion g\u00e9n\u00e9r\u00e9s post\u00e9rieurement \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">cette m\u00eame date sont comptabilis\u00e9s en autres produits</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">et charges financiers dans le compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:101.45pt\">consolid\u00e9. Les \u00e9carts </span><span class=\"f charStyle-bd02d35c ps29692\" style=\"width:116.54pt\">de conversion comptabilis\u00e9s</span><span class=\"f charStyle-bd02d35c ps412\" style=\"width:1.76pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:132.57pt\">ant\u00e9rieurement en autres \u00e9l\u00e9ments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps18407\" style=\"width:3.6pt\"> </span><span class=\"f charStyle-d96cb356 ps29564\" style=\"width:81.77pt\">du r\u00e9sultat global ne</span><span class=\"f charStyle-d96cb356 ps610\" style=\"width:1.92pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:153.5pt\">sont recycl\u00e9s en r\u00e9sultat qu\u2019\u00e0 la date de</span><span class=\"f charStyle-165dec60 ps29693\" style=\"width:64.44pt\"> cession partielle</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:158.55pt\">ou totale de la\u00a0filiale. Le Groupe examine </span><span class=\"f charStyle-81f42323 ps29694\" style=\"width:59.33pt\">au cas par cas si</span><span class=\"f charStyle-81f42323 ps4806\" style=\"width:1.78pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:184.23pt\">le remboursement partiel ou total de l\u2019emprunt <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29695\" style=\"width:33.69pt\">ou dette</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.84pt\">constitue une sortie partielle ou totale de la filiale.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-437": {
   "value": "<div class=\"ps16137 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:217.97pt\">Les comptes consolid\u00e9s du Groupe sont pr\u00e9sent\u00e9s en</span><span class=\"f charStyle-9c680f66 ps16278\" style=\"width:1.93pt\"> </span></div><div class=\"ps2111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:20.78pt\">euros</span><span class=\"f charStyle-165dec60 ps29656\" style=\"width:1.59pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-440": {
   "value": "<div class=\"ps29697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29596\">3.1.3<span id=\"ic85d95ce497944f4848a519dd5289cf1\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29696\"><span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps29598\">Regroupements d\u2019entreprises</span></span></div><div class=\"ps29698 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les regroupements d\u2019entreprises sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:127.16pt\">selon la m\u00e9thode de l\u2019acquisition\u00a0:</span></div><div class=\"ps26928 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">le co\u00fbt d\u2019une acquisition est \u00e9valu\u00e9 \u00e0 la juste valeur de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">contrepartie transf\u00e9r\u00e9e, y compris tout ajustement de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:20.34pt\">prix, </span><span class=\"f charStyle-81f42323 ps29700\" style=\"width:191.92pt\">\u00e0 la date de prise de contr\u00f4le. \u00c0 l\u2019issue du d\u00e9lai</span><span class=\"f charStyle-81f42323 ps8474\" style=\"width:1.78pt\"> </span></div><div class=\"ps26930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:44.86pt\">d\u2019affectation</span><span class=\"f charStyle-165dec60 ps5464\" style=\"width:167.41pt\">, toute variation ult\u00e9rieure de juste valeur</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:69.57pt\">d\u2019un ajustement d</span><span class=\"f charStyle-d96cb356 ps29701\" style=\"width:142.75pt\">e prix est comptabilis\u00e9e en r\u00e9sultat ou</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps29702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps3285\" style=\"width:75.92pt\">en autres \u00e9l\u00e9ments </span><span class=\"f charStyle-165dec60 ps13241\" style=\"width:136.33pt\">du r\u00e9sultat global, selon les normes</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:46.07pt\">applicables\u00a0;</span></div><div class=\"ps5351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">la diff\u00e9rence entre la contrepartie transf\u00e9r\u00e9e et la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2278 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">valeur des actifs identifiables acquis et des passifs</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps2279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:36.4pt\">assum\u00e9s </span><span class=\"f charStyle-165dec60 ps2159\" style=\"width:175.88pt\">\u00e0 la date de prise de contr\u00f4le repr\u00e9sente le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29704\" style=\"width:180.06pt\">, comptabilis\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:38.99pt\">financi\u00e8re.</span></div><div class=\"ps5356 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les ajustements de la juste valeur des actifs identifiables</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">acquis et des passifs repris enregistr\u00e9s sur une base</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:34.95pt\">provisoire</span><span class=\"f charStyle-165dec60 ps29705\" style=\"width:183.04pt\"> (en raison de travaux d\u2019expertise en cours ou</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.55pt\">d\u2019analyses c</span><span class=\"f charStyle-81f42323 ps29706\" style=\"width:170.42pt\">ompl\u00e9mentaires) sont comptabilis\u00e9s comme</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps2287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:69.18pt\">des ajustements</span><span class=\"f charStyle-165dec60 ps5626\" style=\"width:91.99pt\"> r\u00e9trospectifs du </span><span class=\"f charStyle-e8054d08 ps29707\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29708\" style=\"width:24.55pt\"> s\u2019ils</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">interviennent dans la p\u00e9riode d\u2019un an \u00e0 compter de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">date d\u2019acquisition et s\u2019ils r\u00e9sultent de faits et</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">circonstances existant \u00e0 la date d\u2019acquisition. Au\u2011del\u00e0 de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2291 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.86pt\">ce d\u00e9lai, les effets sont constat\u00e9s </span><span class=\"f charStyle-42e3db84 ps29709\" style=\"width:89.11pt\">directement en r\u00e9sultat,</span><span class=\"f charStyle-42e3db84 ps418\" style=\"width:1.82pt\"> </span></div><div class=\"ps29710 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:143.87pt\">comme tout changement d\u2019estimation.</span></div><div class=\"ps2294 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Des actifs incorporels peuvent \u00eatre reconnus au titre des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2295 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:217.93pt\">relations clients qui correspondent en substance \u00e0 des</span><span class=\"f charStyle-c709af45 ps415\" style=\"width:1.87pt\"> </span></div><div class=\"ps2296 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:30.43pt\">contrats</span><span class=\"f charStyle-165dec60 ps29711\" style=\"width:187.48pt\"> en cours d\u2019ex\u00e9cution \u00e0 la date de la prise de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps2298 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">contr\u00f4le et/ou des relations avec des clients r\u00e9guliers de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9 acquise (opportunit\u00e9 de conclusion de nouveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">contrats). Ces actifs incorporels sont \u00e9valu\u00e9s sur la base</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">de la m\u00e9thode dite du \u00ab\u00a0surprofit \u00bb consistant \u00e0 consid\u00e9rer</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">que la valeur de l\u2019actif incorporel \u00e9valu\u00e9 correspond \u00e0 la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:197.24pt\">valeur actualis\u00e9e des flux g\u00e9n\u00e9r\u00e9s par cet actif, </span><span class=\"f charStyle-165dec60 ps29712\" style=\"width:20.69pt\">apr\u00e8s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9duction d\u2019une charge capitalistique permettant de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">r\u00e9mun\u00e9rer les autres actifs mis en \u0153uvre. Des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">incorporels peuvent \u00eatre \u00e9galement reconnus au titre des</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">technologies (brevet\u00e9es ou non) et des marques.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">L\u2019\u00e9valuation de ces derniers s\u2019op\u00e8re soit sur la base de la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2319 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">m\u00e9thode dite des \u00ab\u00a0redevances\u00a0\u00bb soit sur la base de la</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.07pt\">m\u00e9thode dite du \u00ab\u00a0co\u00fbt de remplacement\u00a0\u00bb.</span></div><div class=\"ps19908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Pour chaque prise de contr\u00f4le impliquant une prise de</span><span class=\"f charStyle-b5684510 ps608\" style=\"width:1.8pt\"> </span></div><div class=\"ps2322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.92pt\">participation inf\u00e9rieure \u00e0 100\u00a0%, la fraction d\u2019int\u00e9r\u00eat non</span><span class=\"f charStyle-b5684510 ps410\" style=\"width:1.8pt\"> </span></div><div class=\"ps2323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:34.2pt\">acquise (</span><span class=\"f charStyle-165dec60 ps29713\" style=\"width:183.79pt\">participations ne donnant pas le contr\u00f4le) est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.67pt\">\u00e9valu\u00e9e\u00a0:</span></div><div class=\"ps8150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:165.85pt\">soit \u00e0 sa juste valeur : dans ce cas, un </span><span class=\"f charStyle-7e8471c2 ps29714\" style=\"width:30.55pt\">goodwill</span><span class=\"f charStyle-73c14ed6 ps29715\" style=\"width:15.85pt\"> est</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps8151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:46.19pt\">comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps29716\" style=\"width:166.08pt\"> pour la part relative aux participations ne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:180.04pt\">donnant pas le contr\u00f4le (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29717\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:37.54pt\">complet)\u00a0;</span></div><div class=\"ps29718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.3pt\">soit \u00e0 sa quote-part d\u2019actif net identifiable de l\u2019entit\u00e9</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps29722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:31.28pt\">acquise\u00a0:</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:80.32pt\"> dans ce cas, seul un </span><span class=\"f charStyle-e8054d08 ps29720\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29721\" style=\"width:68.41pt\"> au titre de la part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:146.18pt\">acquise est comptabilis\u00e9 (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29723\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29724\" style=\"width:30.1pt\"> partiel).</span></div><div class=\"ps29726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les co\u00fbts directement attribuables \u00e0 l\u2019acquisition sont</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">comptabilis\u00e9s sur la ligne \u00ab\u00a0Autres produits et charges\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.02pt\">sur la p\u00e9riode au cours de laquelle ils sont encourus.</span></div><div class=\"ps29729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les ajustements ou compl\u00e9ments de prix \u00e9ventuels du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">regroupement d\u2019entreprises sont valoris\u00e9s \u00e0 la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">valeur \u00e0 la date de l\u2019acquisition m\u00eame si leur r\u00e9alisation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">n\u2019est pas consid\u00e9r\u00e9e comme probable. Apr\u00e8s la date</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29734 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.08pt\">d\u2019acquisition, les c</span><span class=\"f charStyle-81f42323 ps29733\" style=\"width:143.91pt\">hangements d\u2019estimation de la juste</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps29737 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:86.28pt\">valeur des ajustements</span><span class=\"f charStyle-165dec60 ps29735\" style=\"width:3.46pt\"> </span><span class=\"f charStyle-367d076b ps29736\" style=\"width:128.2pt\">de prix entra\u00eenent un ajustement</span><span class=\"f charStyle-367d076b ps610\" style=\"width:1.88pt\"> </span></div><div class=\"ps29740 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:13.28pt\">du </span><span class=\"f charStyle-495ee8f6 ps29738\" style=\"width:31.59pt\">goodwill</span><span class=\"f charStyle-367d076b ps21471\" style=\"width:69.05pt\"> uniquement s\u2019ils </span><span class=\"f charStyle-165dec60 ps29739\" style=\"width:104.05pt\">interviennent dans le d\u00e9lai</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019affectation (un an maximum \u00e0 compter de la date</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019acquisition) et s\u2019ils r\u00e9sultent de faits et circonstances</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">existant \u00e0 la date d\u2019acquisition. Dans tous les autres cas, le</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">changement est constat\u00e9 en r\u00e9sultat ou parmi les autres</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">\u00e9l\u00e9ments du r\u00e9sultat global selon la norme IFRS</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.02pt\">appropri\u00e9e.</span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Dans un regroupement d\u2019entreprises r\u00e9alis\u00e9 par \u00e9tapes, la</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">participation que le Groupe d\u00e9tenait pr\u00e9c\u00e9demment</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">dans l\u2019entreprise acquise est r\u00e9\u00e9valu\u00e9e, au moment de la</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">prise de contr\u00f4le de cette entreprise, \u00e0 la juste valeur par</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.76pt\">le compte de r\u00e9sultat. Pour la d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps29742\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e0 la date d\u2019obtention du contr\u00f4le, la juste valeur de la</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">contrepartie transf\u00e9r\u00e9e (par exemple le prix pay\u00e9) est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">augment\u00e9e de la juste valeur de la participation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.35pt\">pr\u00e9c\u00e9demment d\u00e9tenue par </span><span class=\"f charStyle-81f42323 ps29743\" style=\"width:102.63pt\">le Groupe. Le montant des</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:151.5pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps29744\" style=\"width:9.1pt\"> </span><span class=\"f charStyle-81f42323 ps20435\" style=\"width:57.35pt\">pr\u00e9c\u00e9demment</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:183.13pt\">comptabilis\u00e9 au titre de la participation d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps29745\" style=\"width:34.84pt\"> avant la</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2965 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.7pt\">prise de contr\u00f4le est recycl\u00e9 en compte de r\u00e9sultat.</span></div><div class=\"ps29747 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29649\">3.1.4<span id=\"i7aa1759cf25445c39c0784c90ca3c210\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29746\"><span style=\"display:inline-block;height:8.71pt;width:14.28pt\"></span></span><span class=\"ps29651\">Transactions concernant </span></span></div><div class=\"ps29749 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">les\u00a0</span><span class=\"f charStyle-0f5edfbc ps29748\">participations ne donnant </span></div><div class=\"ps29750 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-0f5edfbc ps29651\">pas\u00a0le\u00a0contr\u00f4le</span></div><div class=\"ps29751 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.6pt\">En l\u2019absence de</span><span class=\"f charStyle-165dec60 ps21274\" style=\"width:158.33pt\"> changement de contr\u00f4le, la variation des</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29752 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">transactions concernant les participations ne donnant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.76pt\">pas le </span><span class=\"f charStyle-53279637 ps29753\" style=\"width:188.19pt\">contr\u00f4le est comptabilis\u00e9e en capitaux propres.</span><span class=\"f charStyle-53279637 ps16281\" style=\"width:1.85pt\"> </span></div><div class=\"ps29756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:45.8pt\">Notamment</span><span class=\"f charStyle-165dec60 ps29755\" style=\"width:172.18pt\">, lors d\u2019une acquisition compl\u00e9mentaire de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:66.83pt\">titres d\u2019une entit\u00e9</span><span class=\"f charStyle-bd9dab06 ps29757\" style=\"width:151.1pt\"> d\u00e9j\u00e0 contr\u00f4l\u00e9e par le Groupe, l\u2019\u00e9cart entre</span><span class=\"f charStyle-bd9dab06 ps16299\" style=\"width:1.81pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:217.99pt\">le prix d\u2019acquisition des titres et la quote-part</span><span class=\"f charStyle-bd9dab06 ps16296\" style=\"width:1.81pt\"> </span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:140.89pt\">compl\u00e9mentaire des capitaux propre</span><span class=\"f charStyle-165dec60 ps29758\" style=\"width:7.68pt\">s </span><span class=\"f charStyle-81f42323 ps29759\" style=\"width:69.38pt\">consolid\u00e9s acquise</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:204.52pt\">est enregistr\u00e9 en capitaux propres attribuable </span><span class=\"f charStyle-165dec60 ps29760\" style=\"width:13.46pt\">aux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:198.61pt\">actionnaires de la Soci\u00e9t\u00e9. La valeur consolid\u00e9e des </span><span class=\"f charStyle-81993cb5 ps29761\" style=\"width:19.35pt\">actifs</span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps29766 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:101.16pt\">et passifs identifiables de </span><span class=\"f charStyle-81993cb5 ps29763\" style=\"width:82.91pt\">l\u2019entit\u00e9 (y compris le </span><span class=\"f charStyle-55d48e21 ps29764\" style=\"width:31.51pt\">goodwill</span><span class=\"f charStyle-81993cb5 ps29765\" style=\"width:2.37pt\">)</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.77pt\">reste inchang\u00e9e</span><div class=\"ps11949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.56pt\">Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31715\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31716\" style=\"width:311.21pt\"> sont initialement reconnus lors d\u2019un regroupement d\u2019entreprises tel que d\u00e9crit en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31717\" style=\"width:34.64pt\">Note 3.1.3</span><span class=\"f charStyle-165dec60 ps31718\" style=\"width:37.74pt\">, page 391.</span><span class=\"f charStyle-165dec60 ps31719\" style=\"width:1.96pt\"> </span></div><div class=\"ps6537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:458.57pt\">Post\u00e9rieurement \u00e0 leur comptabilisation initiale, ils ne sont pas amortis mais font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation d\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps29741\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31721 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:44.15pt\">l\u2019apparition <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31720\" style=\"width:414.49pt\">d\u2019indices de pertes de valeur et au minimum une fois par an. Les modalit\u00e9s des tests de d\u00e9pr\u00e9ciation r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps11953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.66pt\">sur </span><span class=\"f charStyle-165dec60 ps15725\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:63.98pt\"> sont d\u00e9crites en </span><span class=\"f charStyle-165dec60 ps31722\" style=\"width:31.27pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31723\" style=\"width:63.92pt\">, pages 419 \u00e0 422.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-439": {
   "value": "<div class=\"ps29697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29596\">3.1.3<span id=\"ic85d95ce497944f4848a519dd5289cf1\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29696\"><span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps29598\">Regroupements d\u2019entreprises</span></span></div><div class=\"ps29698 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les regroupements d\u2019entreprises sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:127.16pt\">selon la m\u00e9thode de l\u2019acquisition\u00a0:</span></div><div class=\"ps26928 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">le co\u00fbt d\u2019une acquisition est \u00e9valu\u00e9 \u00e0 la juste valeur de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">contrepartie transf\u00e9r\u00e9e, y compris tout ajustement de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:20.34pt\">prix, </span><span class=\"f charStyle-81f42323 ps29700\" style=\"width:191.92pt\">\u00e0 la date de prise de contr\u00f4le. \u00c0 l\u2019issue du d\u00e9lai</span><span class=\"f charStyle-81f42323 ps8474\" style=\"width:1.78pt\"> </span></div><div class=\"ps26930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:44.86pt\">d\u2019affectation</span><span class=\"f charStyle-165dec60 ps5464\" style=\"width:167.41pt\">, toute variation ult\u00e9rieure de juste valeur</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:69.57pt\">d\u2019un ajustement d</span><span class=\"f charStyle-d96cb356 ps29701\" style=\"width:142.75pt\">e prix est comptabilis\u00e9e en r\u00e9sultat ou</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps29702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps3285\" style=\"width:75.92pt\">en autres \u00e9l\u00e9ments </span><span class=\"f charStyle-165dec60 ps13241\" style=\"width:136.33pt\">du r\u00e9sultat global, selon les normes</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:46.07pt\">applicables\u00a0;</span></div><div class=\"ps5351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">la diff\u00e9rence entre la contrepartie transf\u00e9r\u00e9e et la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2278 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">valeur des actifs identifiables acquis et des passifs</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps2279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:36.4pt\">assum\u00e9s </span><span class=\"f charStyle-165dec60 ps2159\" style=\"width:175.88pt\">\u00e0 la date de prise de contr\u00f4le repr\u00e9sente le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29704\" style=\"width:180.06pt\">, comptabilis\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:38.99pt\">financi\u00e8re.</span></div><div class=\"ps5356 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les ajustements de la juste valeur des actifs identifiables</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">acquis et des passifs repris enregistr\u00e9s sur une base</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:34.95pt\">provisoire</span><span class=\"f charStyle-165dec60 ps29705\" style=\"width:183.04pt\"> (en raison de travaux d\u2019expertise en cours ou</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.55pt\">d\u2019analyses c</span><span class=\"f charStyle-81f42323 ps29706\" style=\"width:170.42pt\">ompl\u00e9mentaires) sont comptabilis\u00e9s comme</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps2287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:69.18pt\">des ajustements</span><span class=\"f charStyle-165dec60 ps5626\" style=\"width:91.99pt\"> r\u00e9trospectifs du </span><span class=\"f charStyle-e8054d08 ps29707\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29708\" style=\"width:24.55pt\"> s\u2019ils</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">interviennent dans la p\u00e9riode d\u2019un an \u00e0 compter de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">date d\u2019acquisition et s\u2019ils r\u00e9sultent de faits et</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">circonstances existant \u00e0 la date d\u2019acquisition. Au\u2011del\u00e0 de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2291 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.86pt\">ce d\u00e9lai, les effets sont constat\u00e9s </span><span class=\"f charStyle-42e3db84 ps29709\" style=\"width:89.11pt\">directement en r\u00e9sultat,</span><span class=\"f charStyle-42e3db84 ps418\" style=\"width:1.82pt\"> </span></div><div class=\"ps29710 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:143.87pt\">comme tout changement d\u2019estimation.</span></div><div class=\"ps2294 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Des actifs incorporels peuvent \u00eatre reconnus au titre des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2295 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:217.93pt\">relations clients qui correspondent en substance \u00e0 des</span><span class=\"f charStyle-c709af45 ps415\" style=\"width:1.87pt\"> </span></div><div class=\"ps2296 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:30.43pt\">contrats</span><span class=\"f charStyle-165dec60 ps29711\" style=\"width:187.48pt\"> en cours d\u2019ex\u00e9cution \u00e0 la date de la prise de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps2298 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">contr\u00f4le et/ou des relations avec des clients r\u00e9guliers de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9 acquise (opportunit\u00e9 de conclusion de nouveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">contrats). Ces actifs incorporels sont \u00e9valu\u00e9s sur la base</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">de la m\u00e9thode dite du \u00ab\u00a0surprofit \u00bb consistant \u00e0 consid\u00e9rer</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">que la valeur de l\u2019actif incorporel \u00e9valu\u00e9 correspond \u00e0 la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:197.24pt\">valeur actualis\u00e9e des flux g\u00e9n\u00e9r\u00e9s par cet actif, </span><span class=\"f charStyle-165dec60 ps29712\" style=\"width:20.69pt\">apr\u00e8s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9duction d\u2019une charge capitalistique permettant de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">r\u00e9mun\u00e9rer les autres actifs mis en \u0153uvre. Des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">incorporels peuvent \u00eatre \u00e9galement reconnus au titre des</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">technologies (brevet\u00e9es ou non) et des marques.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">L\u2019\u00e9valuation de ces derniers s\u2019op\u00e8re soit sur la base de la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2319 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">m\u00e9thode dite des \u00ab\u00a0redevances\u00a0\u00bb soit sur la base de la</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.07pt\">m\u00e9thode dite du \u00ab\u00a0co\u00fbt de remplacement\u00a0\u00bb.</span></div><div class=\"ps19908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Pour chaque prise de contr\u00f4le impliquant une prise de</span><span class=\"f charStyle-b5684510 ps608\" style=\"width:1.8pt\"> </span></div><div class=\"ps2322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.92pt\">participation inf\u00e9rieure \u00e0 100\u00a0%, la fraction d\u2019int\u00e9r\u00eat non</span><span class=\"f charStyle-b5684510 ps410\" style=\"width:1.8pt\"> </span></div><div class=\"ps2323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:34.2pt\">acquise (</span><span class=\"f charStyle-165dec60 ps29713\" style=\"width:183.79pt\">participations ne donnant pas le contr\u00f4le) est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.67pt\">\u00e9valu\u00e9e\u00a0:</span></div><div class=\"ps8150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:165.85pt\">soit \u00e0 sa juste valeur : dans ce cas, un </span><span class=\"f charStyle-7e8471c2 ps29714\" style=\"width:30.55pt\">goodwill</span><span class=\"f charStyle-73c14ed6 ps29715\" style=\"width:15.85pt\"> est</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps8151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:46.19pt\">comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps29716\" style=\"width:166.08pt\"> pour la part relative aux participations ne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:180.04pt\">donnant pas le contr\u00f4le (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29717\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:37.54pt\">complet)\u00a0;</span></div><div class=\"ps29718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.3pt\">soit \u00e0 sa quote-part d\u2019actif net identifiable de l\u2019entit\u00e9</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps29722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:31.28pt\">acquise\u00a0:</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:80.32pt\"> dans ce cas, seul un </span><span class=\"f charStyle-e8054d08 ps29720\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29721\" style=\"width:68.41pt\"> au titre de la part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:146.18pt\">acquise est comptabilis\u00e9 (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29723\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29724\" style=\"width:30.1pt\"> partiel).</span></div><div class=\"ps29726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les co\u00fbts directement attribuables \u00e0 l\u2019acquisition sont</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">comptabilis\u00e9s sur la ligne \u00ab\u00a0Autres produits et charges\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.02pt\">sur la p\u00e9riode au cours de laquelle ils sont encourus.</span></div><div class=\"ps29729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les ajustements ou compl\u00e9ments de prix \u00e9ventuels du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">regroupement d\u2019entreprises sont valoris\u00e9s \u00e0 la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">valeur \u00e0 la date de l\u2019acquisition m\u00eame si leur r\u00e9alisation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">n\u2019est pas consid\u00e9r\u00e9e comme probable. Apr\u00e8s la date</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29734 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.08pt\">d\u2019acquisition, les c</span><span class=\"f charStyle-81f42323 ps29733\" style=\"width:143.91pt\">hangements d\u2019estimation de la juste</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps29737 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:86.28pt\">valeur des ajustements</span><span class=\"f charStyle-165dec60 ps29735\" style=\"width:3.46pt\"> </span><span class=\"f charStyle-367d076b ps29736\" style=\"width:128.2pt\">de prix entra\u00eenent un ajustement</span><span class=\"f charStyle-367d076b ps610\" style=\"width:1.88pt\"> </span></div><div class=\"ps29740 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:13.28pt\">du </span><span class=\"f charStyle-495ee8f6 ps29738\" style=\"width:31.59pt\">goodwill</span><span class=\"f charStyle-367d076b ps21471\" style=\"width:69.05pt\"> uniquement s\u2019ils </span><span class=\"f charStyle-165dec60 ps29739\" style=\"width:104.05pt\">interviennent dans le d\u00e9lai</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019affectation (un an maximum \u00e0 compter de la date</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019acquisition) et s\u2019ils r\u00e9sultent de faits et circonstances</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">existant \u00e0 la date d\u2019acquisition. Dans tous les autres cas, le</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">changement est constat\u00e9 en r\u00e9sultat ou parmi les autres</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">\u00e9l\u00e9ments du r\u00e9sultat global selon la norme IFRS</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.02pt\">appropri\u00e9e.</span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Dans un regroupement d\u2019entreprises r\u00e9alis\u00e9 par \u00e9tapes, la</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">participation que le Groupe d\u00e9tenait pr\u00e9c\u00e9demment</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">dans l\u2019entreprise acquise est r\u00e9\u00e9valu\u00e9e, au moment de la</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">prise de contr\u00f4le de cette entreprise, \u00e0 la juste valeur par</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.76pt\">le compte de r\u00e9sultat. Pour la d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps29742\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e0 la date d\u2019obtention du contr\u00f4le, la juste valeur de la</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">contrepartie transf\u00e9r\u00e9e (par exemple le prix pay\u00e9) est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">augment\u00e9e de la juste valeur de la participation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.35pt\">pr\u00e9c\u00e9demment d\u00e9tenue par </span><span class=\"f charStyle-81f42323 ps29743\" style=\"width:102.63pt\">le Groupe. Le montant des</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:151.5pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps29744\" style=\"width:9.1pt\"> </span><span class=\"f charStyle-81f42323 ps20435\" style=\"width:57.35pt\">pr\u00e9c\u00e9demment</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:183.13pt\">comptabilis\u00e9 au titre de la participation d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps29745\" style=\"width:34.84pt\"> avant la</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2965 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.7pt\">prise de contr\u00f4le est recycl\u00e9 en compte de r\u00e9sultat.</span></div><div class=\"ps11949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.56pt\">Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31715\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31716\" style=\"width:311.21pt\"> sont initialement reconnus lors d\u2019un regroupement d\u2019entreprises tel que d\u00e9crit en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31717\" style=\"width:34.64pt\">Note 3.1.3</span><span class=\"f charStyle-165dec60 ps31718\" style=\"width:37.74pt\">, page 391.</span><span class=\"f charStyle-165dec60 ps31719\" style=\"width:1.96pt\"> </span></div><div class=\"ps6537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:458.57pt\">Post\u00e9rieurement \u00e0 leur comptabilisation initiale, ils ne sont pas amortis mais font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation d\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps29741\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31721 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:44.15pt\">l\u2019apparition <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31720\" style=\"width:414.49pt\">d\u2019indices de pertes de valeur et au minimum une fois par an. Les modalit\u00e9s des tests de d\u00e9pr\u00e9ciation r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps11953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.66pt\">sur </span><span class=\"f charStyle-165dec60 ps15725\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:63.98pt\"> sont d\u00e9crites en </span><span class=\"f charStyle-165dec60 ps31722\" style=\"width:31.27pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31723\" style=\"width:63.92pt\">, pages 419 \u00e0 422.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-438": {
   "value": "<div class=\"ps29697 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29596\">3.1.3<span id=\"ic85d95ce497944f4848a519dd5289cf1\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29696\"><span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps29598\">Regroupements d\u2019entreprises</span></span></div><div class=\"ps29698 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les regroupements d\u2019entreprises sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:127.16pt\">selon la m\u00e9thode de l\u2019acquisition\u00a0:</span></div><div class=\"ps26928 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">le co\u00fbt d\u2019une acquisition est \u00e9valu\u00e9 \u00e0 la juste valeur de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">contrepartie transf\u00e9r\u00e9e, y compris tout ajustement de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps26582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:20.34pt\">prix, </span><span class=\"f charStyle-81f42323 ps29700\" style=\"width:191.92pt\">\u00e0 la date de prise de contr\u00f4le. \u00c0 l\u2019issue du d\u00e9lai</span><span class=\"f charStyle-81f42323 ps8474\" style=\"width:1.78pt\"> </span></div><div class=\"ps26930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:44.86pt\">d\u2019affectation</span><span class=\"f charStyle-165dec60 ps5464\" style=\"width:167.41pt\">, toute variation ult\u00e9rieure de juste valeur</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:69.57pt\">d\u2019un ajustement d</span><span class=\"f charStyle-d96cb356 ps29701\" style=\"width:142.75pt\">e prix est comptabilis\u00e9e en r\u00e9sultat ou</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps29702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps3285\" style=\"width:75.92pt\">en autres \u00e9l\u00e9ments </span><span class=\"f charStyle-165dec60 ps13241\" style=\"width:136.33pt\">du r\u00e9sultat global, selon les normes</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:46.07pt\">applicables\u00a0;</span></div><div class=\"ps5351 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">la diff\u00e9rence entre la contrepartie transf\u00e9r\u00e9e et la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2278 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">valeur des actifs identifiables acquis et des passifs</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps2279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:36.4pt\">assum\u00e9s </span><span class=\"f charStyle-165dec60 ps2159\" style=\"width:175.88pt\">\u00e0 la date de prise de contr\u00f4le repr\u00e9sente le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29704\" style=\"width:180.06pt\">, comptabilis\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:38.99pt\">financi\u00e8re.</span></div><div class=\"ps5356 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les ajustements de la juste valeur des actifs identifiables</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">acquis et des passifs repris enregistr\u00e9s sur une base</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps2285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:34.95pt\">provisoire</span><span class=\"f charStyle-165dec60 ps29705\" style=\"width:183.04pt\"> (en raison de travaux d\u2019expertise en cours ou</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.55pt\">d\u2019analyses c</span><span class=\"f charStyle-81f42323 ps29706\" style=\"width:170.42pt\">ompl\u00e9mentaires) sont comptabilis\u00e9s comme</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps2287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:69.18pt\">des ajustements</span><span class=\"f charStyle-165dec60 ps5626\" style=\"width:91.99pt\"> r\u00e9trospectifs du </span><span class=\"f charStyle-e8054d08 ps29707\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29708\" style=\"width:24.55pt\"> s\u2019ils</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">interviennent dans la p\u00e9riode d\u2019un an \u00e0 compter de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">date d\u2019acquisition et s\u2019ils r\u00e9sultent de faits et</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">circonstances existant \u00e0 la date d\u2019acquisition. Au\u2011del\u00e0 de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2291 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.86pt\">ce d\u00e9lai, les effets sont constat\u00e9s </span><span class=\"f charStyle-42e3db84 ps29709\" style=\"width:89.11pt\">directement en r\u00e9sultat,</span><span class=\"f charStyle-42e3db84 ps418\" style=\"width:1.82pt\"> </span></div><div class=\"ps29710 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:143.87pt\">comme tout changement d\u2019estimation.</span></div><div class=\"ps2294 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Des actifs incorporels peuvent \u00eatre reconnus au titre des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2295 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:217.93pt\">relations clients qui correspondent en substance \u00e0 des</span><span class=\"f charStyle-c709af45 ps415\" style=\"width:1.87pt\"> </span></div><div class=\"ps2296 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:30.43pt\">contrats</span><span class=\"f charStyle-165dec60 ps29711\" style=\"width:187.48pt\"> en cours d\u2019ex\u00e9cution \u00e0 la date de la prise de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps2298 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">contr\u00f4le et/ou des relations avec des clients r\u00e9guliers de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9 acquise (opportunit\u00e9 de conclusion de nouveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">contrats). Ces actifs incorporels sont \u00e9valu\u00e9s sur la base</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">de la m\u00e9thode dite du \u00ab\u00a0surprofit \u00bb consistant \u00e0 consid\u00e9rer</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">que la valeur de l\u2019actif incorporel \u00e9valu\u00e9 correspond \u00e0 la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:197.24pt\">valeur actualis\u00e9e des flux g\u00e9n\u00e9r\u00e9s par cet actif, </span><span class=\"f charStyle-165dec60 ps29712\" style=\"width:20.69pt\">apr\u00e8s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9duction d\u2019une charge capitalistique permettant de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">r\u00e9mun\u00e9rer les autres actifs mis en \u0153uvre. Des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">incorporels peuvent \u00eatre \u00e9galement reconnus au titre des</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">technologies (brevet\u00e9es ou non) et des marques.</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">L\u2019\u00e9valuation de ces derniers s\u2019op\u00e8re soit sur la base de la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2319 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">m\u00e9thode dite des \u00ab\u00a0redevances\u00a0\u00bb soit sur la base de la</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.07pt\">m\u00e9thode dite du \u00ab\u00a0co\u00fbt de remplacement\u00a0\u00bb.</span></div><div class=\"ps19908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Pour chaque prise de contr\u00f4le impliquant une prise de</span><span class=\"f charStyle-b5684510 ps608\" style=\"width:1.8pt\"> </span></div><div class=\"ps2322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.92pt\">participation inf\u00e9rieure \u00e0 100\u00a0%, la fraction d\u2019int\u00e9r\u00eat non</span><span class=\"f charStyle-b5684510 ps410\" style=\"width:1.8pt\"> </span></div><div class=\"ps2323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:34.2pt\">acquise (</span><span class=\"f charStyle-165dec60 ps29713\" style=\"width:183.79pt\">participations ne donnant pas le contr\u00f4le) est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.67pt\">\u00e9valu\u00e9e\u00a0:</span></div><div class=\"ps8150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:165.85pt\">soit \u00e0 sa juste valeur : dans ce cas, un </span><span class=\"f charStyle-7e8471c2 ps29714\" style=\"width:30.55pt\">goodwill</span><span class=\"f charStyle-73c14ed6 ps29715\" style=\"width:15.85pt\"> est</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps8151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps3285\" style=\"width:46.19pt\">comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps29716\" style=\"width:166.08pt\"> pour la part relative aux participations ne</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:180.04pt\">donnant pas le contr\u00f4le (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29717\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:37.54pt\">complet)\u00a0;</span></div><div class=\"ps29718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.3pt\">soit \u00e0 sa quote-part d\u2019actif net identifiable de l\u2019entit\u00e9</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps29722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:31.28pt\">acquise\u00a0:</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:80.32pt\"> dans ce cas, seul un </span><span class=\"f charStyle-e8054d08 ps29720\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29721\" style=\"width:68.41pt\"> au titre de la part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:146.18pt\">acquise est comptabilis\u00e9 (m\u00e9thode du </span><span class=\"f charStyle-e8054d08 ps29723\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29724\" style=\"width:30.1pt\"> partiel).</span></div><div class=\"ps29726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les co\u00fbts directement attribuables \u00e0 l\u2019acquisition sont</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">comptabilis\u00e9s sur la ligne \u00ab\u00a0Autres produits et charges\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.02pt\">sur la p\u00e9riode au cours de laquelle ils sont encourus.</span></div><div class=\"ps29729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les ajustements ou compl\u00e9ments de prix \u00e9ventuels du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">regroupement d\u2019entreprises sont valoris\u00e9s \u00e0 la juste</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">valeur \u00e0 la date de l\u2019acquisition m\u00eame si leur r\u00e9alisation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">n\u2019est pas consid\u00e9r\u00e9e comme probable. Apr\u00e8s la date</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29734 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.08pt\">d\u2019acquisition, les c</span><span class=\"f charStyle-81f42323 ps29733\" style=\"width:143.91pt\">hangements d\u2019estimation de la juste</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps29737 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:86.28pt\">valeur des ajustements</span><span class=\"f charStyle-165dec60 ps29735\" style=\"width:3.46pt\"> </span><span class=\"f charStyle-367d076b ps29736\" style=\"width:128.2pt\">de prix entra\u00eenent un ajustement</span><span class=\"f charStyle-367d076b ps610\" style=\"width:1.88pt\"> </span></div><div class=\"ps29740 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:13.28pt\">du </span><span class=\"f charStyle-495ee8f6 ps29738\" style=\"width:31.59pt\">goodwill</span><span class=\"f charStyle-367d076b ps21471\" style=\"width:69.05pt\"> uniquement s\u2019ils </span><span class=\"f charStyle-165dec60 ps29739\" style=\"width:104.05pt\">interviennent dans le d\u00e9lai</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019affectation (un an maximum \u00e0 compter de la date</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019acquisition) et s\u2019ils r\u00e9sultent de faits et circonstances</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">existant \u00e0 la date d\u2019acquisition. Dans tous les autres cas, le</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">changement est constat\u00e9 en r\u00e9sultat ou parmi les autres</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">\u00e9l\u00e9ments du r\u00e9sultat global selon la norme IFRS</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.02pt\">appropri\u00e9e.</span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Dans un regroupement d\u2019entreprises r\u00e9alis\u00e9 par \u00e9tapes, la</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">participation que le Groupe d\u00e9tenait pr\u00e9c\u00e9demment</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">dans l\u2019entreprise acquise est r\u00e9\u00e9valu\u00e9e, au moment de la</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">prise de contr\u00f4le de cette entreprise, \u00e0 la juste valeur par</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.76pt\">le compte de r\u00e9sultat. Pour la d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps29742\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e0 la date d\u2019obtention du contr\u00f4le, la juste valeur de la</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">contrepartie transf\u00e9r\u00e9e (par exemple le prix pay\u00e9) est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">augment\u00e9e de la juste valeur de la participation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.35pt\">pr\u00e9c\u00e9demment d\u00e9tenue par </span><span class=\"f charStyle-81f42323 ps29743\" style=\"width:102.63pt\">le Groupe. Le montant des</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:151.5pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps29744\" style=\"width:9.1pt\"> </span><span class=\"f charStyle-81f42323 ps20435\" style=\"width:57.35pt\">pr\u00e9c\u00e9demment</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:183.13pt\">comptabilis\u00e9 au titre de la participation d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps29745\" style=\"width:34.84pt\"> avant la</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps2965 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.7pt\">prise de contr\u00f4le est recycl\u00e9 en compte de r\u00e9sultat.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-442": {
   "value": "<span class=\"f charStyle-b11f9a65\"><span class=\"ps29746\"><span style=\"display:inline-block;height:8.71pt;width:14.28pt\"></span></span><span class=\"ps29651\">Transactions concernant </span></span><div class=\"ps29749 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">les\u00a0</span><span class=\"f charStyle-0f5edfbc ps29748\">participations ne donnant </span></div><div class=\"ps29750 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-0f5edfbc ps29651\">pas\u00a0le\u00a0contr\u00f4le</span></div><div class=\"ps29751 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.6pt\">En l\u2019absence de</span><span class=\"f charStyle-165dec60 ps21274\" style=\"width:158.33pt\"> changement de contr\u00f4le, la variation des</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29752 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">transactions concernant les participations ne donnant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.76pt\">pas le </span><span class=\"f charStyle-53279637 ps29753\" style=\"width:188.19pt\">contr\u00f4le est comptabilis\u00e9e en capitaux propres.</span><span class=\"f charStyle-53279637 ps16281\" style=\"width:1.85pt\"> </span></div><div class=\"ps29756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:45.8pt\">Notamment</span><span class=\"f charStyle-165dec60 ps29755\" style=\"width:172.18pt\">, lors d\u2019une acquisition compl\u00e9mentaire de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:66.83pt\">titres d\u2019une entit\u00e9</span><span class=\"f charStyle-bd9dab06 ps29757\" style=\"width:151.1pt\"> d\u00e9j\u00e0 contr\u00f4l\u00e9e par le Groupe, l\u2019\u00e9cart entre</span><span class=\"f charStyle-bd9dab06 ps16299\" style=\"width:1.81pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:217.99pt\">le prix d\u2019acquisition des titres et la quote-part</span><span class=\"f charStyle-bd9dab06 ps16296\" style=\"width:1.81pt\"> </span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:140.89pt\">compl\u00e9mentaire des capitaux propre</span><span class=\"f charStyle-165dec60 ps29758\" style=\"width:7.68pt\">s </span><span class=\"f charStyle-81f42323 ps29759\" style=\"width:69.38pt\">consolid\u00e9s acquise</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:204.52pt\">est enregistr\u00e9 en capitaux propres attribuable </span><span class=\"f charStyle-165dec60 ps29760\" style=\"width:13.46pt\">aux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:198.61pt\">actionnaires de la Soci\u00e9t\u00e9. La valeur consolid\u00e9e des </span><span class=\"f charStyle-81993cb5 ps29761\" style=\"width:19.35pt\">actifs</span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps29766 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:101.16pt\">et passifs identifiables de </span><span class=\"f charStyle-81993cb5 ps29763\" style=\"width:82.91pt\">l\u2019entit\u00e9 (y compris le </span><span class=\"f charStyle-55d48e21 ps29764\" style=\"width:31.51pt\">goodwill</span><span class=\"f charStyle-81993cb5 ps29765\" style=\"width:2.37pt\">)</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29768 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.77pt\">reste inchang\u00e9e</span><span class=\"f charStyle-165dec60 ps29767\" style=\"width:1.59pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-441": {
   "value": "<span class=\"f charStyle-b11f9a65\"><span class=\"ps29746\"><span style=\"display:inline-block;height:8.71pt;width:14.28pt\"></span></span><span class=\"ps29651\">Transactions concernant </span></span><div class=\"ps29749 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">les\u00a0</span><span class=\"f charStyle-0f5edfbc ps29748\">participations ne donnant </span></div><div class=\"ps29750 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-0f5edfbc ps29651\">pas\u00a0le\u00a0contr\u00f4le</span></div><div class=\"ps29751 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.6pt\">En l\u2019absence de</span><span class=\"f charStyle-165dec60 ps21274\" style=\"width:158.33pt\"> changement de contr\u00f4le, la variation des</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29752 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">transactions concernant les participations ne donnant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.76pt\">pas le </span><span class=\"f charStyle-53279637 ps29753\" style=\"width:188.19pt\">contr\u00f4le est comptabilis\u00e9e en capitaux propres.</span><span class=\"f charStyle-53279637 ps16281\" style=\"width:1.85pt\"> </span></div><div class=\"ps29756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:45.8pt\">Notamment</span><span class=\"f charStyle-165dec60 ps29755\" style=\"width:172.18pt\">, lors d\u2019une acquisition compl\u00e9mentaire de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:66.83pt\">titres d\u2019une entit\u00e9</span><span class=\"f charStyle-bd9dab06 ps29757\" style=\"width:151.1pt\"> d\u00e9j\u00e0 contr\u00f4l\u00e9e par le Groupe, l\u2019\u00e9cart entre</span><span class=\"f charStyle-bd9dab06 ps16299\" style=\"width:1.81pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:217.99pt\">le prix d\u2019acquisition des titres et la quote-part</span><span class=\"f charStyle-bd9dab06 ps16296\" style=\"width:1.81pt\"> </span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:140.89pt\">compl\u00e9mentaire des capitaux propre</span><span class=\"f charStyle-165dec60 ps29758\" style=\"width:7.68pt\">s </span><span class=\"f charStyle-81f42323 ps29759\" style=\"width:69.38pt\">consolid\u00e9s acquise</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:204.52pt\">est enregistr\u00e9 en capitaux propres attribuable </span><span class=\"f charStyle-165dec60 ps29760\" style=\"width:13.46pt\">aux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:198.61pt\">actionnaires de la Soci\u00e9t\u00e9. La valeur consolid\u00e9e des </span><span class=\"f charStyle-81993cb5 ps29761\" style=\"width:19.35pt\">actifs</span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps29766 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:101.16pt\">et passifs identifiables de </span><span class=\"f charStyle-81993cb5 ps29763\" style=\"width:82.91pt\">l\u2019entit\u00e9 (y compris le </span><span class=\"f charStyle-55d48e21 ps29764\" style=\"width:31.51pt\">goodwill</span><span class=\"f charStyle-81993cb5 ps29765\" style=\"width:2.37pt\">)</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29768 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.77pt\">reste inchang\u00e9e</span><span class=\"f charStyle-165dec60 ps29767\" style=\"width:1.59pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-446": {
   "value": "<span class=\"f charStyle-b11f9a65 ps29651\">Actifs et passifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s </span><div class=\"ps29771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">et\u00a0activit\u00e9s abandonn\u00e9es</span></div><div class=\"ps6299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque le Groupe s\u2019attend \u00e0 recouvrer la valeur d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">ou d\u2019un groupe d\u2019actifs, par sa vente plut\u00f4t que par son</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">utilisation, cet actif est pr\u00e9sent\u00e9 distinctement sur la ligne</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00ab\u00a0Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">financi\u00e8re. Les passifs relatifs \u00e0 cet actif sont \u00e9galement</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">pr\u00e9sent\u00e9s, le cas \u00e9ch\u00e9ant, sur la ligne \u00ab\u00a0Passifs destin\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation financi\u00e8re. Un actif</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps6306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">class\u00e9 comme tel est \u00e9valu\u00e9 au montant le plus faible de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps6307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur comptable et de son prix de vente estim\u00e9,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">diminu\u00e9 des frais li\u00e9s \u00e0 la vente. Il ne fait en cons\u00e9quence</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps6309 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:120.6pt\">plus l\u2019objet d\u2019un amortissement.</span></div><div class=\"ps13412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Une activit\u00e9 abandonn\u00e9e repr\u00e9sente, selon la norme</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">IFRS\u00a05 une composante dont le Groupe s\u2019est s\u00e9par\u00e9 ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps22015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:204.37pt\">qui est class\u00e9e comme d\u00e9tenue en vue de la vente, et\u00a0:</span></div><div class=\"ps4793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:212.29pt\">qui repr\u00e9sente une ligne d\u2019activit\u00e9 ou une r\u00e9gion</span><span class=\"f charStyle-dd2d44ff ps16295\" style=\"width:1.75pt\"> </span></div><div class=\"ps4794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:51.2pt\">g\u00e9ographique</span><span class=\"f charStyle-165dec60 ps29773\" style=\"width:87.09pt\"> principale et distincte\u00a0;</span></div><div class=\"ps4796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:212.3pt\">faisant partie d\u2019un plan unique et coordonn\u00e9 pour se</span><span class=\"f charStyle-bd9dab06 ps29668\" style=\"width:1.81pt\"> </span></div><div class=\"ps4797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:41.26pt\">s\u00e9parer d</span><span class=\"f charStyle-165dec60 ps29774\" style=\"width:171.02pt\">\u2019une ligne d\u2019activit\u00e9 ou d\u2019une r\u00e9gion</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:140.81pt\">g\u00e9ographique principale et distincte\u00a0;</span></div><div class=\"ps12145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3c2b601a ps448\" style=\"width:2.62pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps26704\" style=\"width:211.3pt\">ou une filiale acquise exclusivement en vue de la revente.</span></div><div class=\"ps12518 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">La classification comme activit\u00e9 abandonn\u00e9e intervient</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps12520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">au moment de la cession ou \u00e0 une date ant\u00e9rieure</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">lorsque l\u2019activit\u00e9 satisfait aux crit\u00e8res pour \u00eatre class\u00e9e</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comme d\u00e9tenue en vue de la vente. Le r\u00e9sultat ainsi que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">la plus ou moins-value de cession de ces activit\u00e9s sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps16963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">alors pr\u00e9sent\u00e9s, nets d\u2019imp\u00f4ts, sur une ligne distincte du</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">compte de r\u00e9sultat. Le m\u00eame traitement est appliqu\u00e9 de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">mani\u00e8re comparative au compte de r\u00e9sultat de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps12155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div><div class=\"ps4869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Dans le cas des actifs relatifs \u00e0 des activit\u00e9s qui n\u2019ont pas</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9t\u00e9 class\u00e9es en activit\u00e9s abandonn\u00e9es, les \u00e9ventuelles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">pertes de valeur et le r\u00e9sultat de cession de ces actifs sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:175.29pt\">inclus dans le r\u00e9sultat op\u00e9rationnel du Groupe.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps448\">3.2.2<span id=\"iea13f312d0ab49c0b860671869f34389\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29823\"><span style=\"display:inline-block;height:8.71pt;width:13.38pt\"></span></span><span class=\"ps17462\">Op\u00e9ration non encore finalis\u00e9e</span></span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Valeo a entam\u00e9 des n\u00e9gociations visant \u00e0 transf\u00e9rer ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s d'\u00e9clairage en Inde dans une coentreprise d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">par Ichikoh et Tata AutoComp Systems. La mise en \u0153uvre de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">cette op\u00e9ration conduirait \u00e0 un changement de m\u00e9thode de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:203.29pt\">consolidation des actifs et des passifs de cette activit\u00e9.</span></div><div class=\"ps29824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Conform\u00e9ment aux crit\u00e8res d'IFRS 5, les actifs et passifs</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29825 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">rattach\u00e9s \u00e0 cette activit\u00e9 figurent en actifs et passifs destin\u00e9s</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29459 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">\u00e0 \u00eatre c\u00e9d\u00e9s dans l'\u00e9tat de la situation financi\u00e8re consolid\u00e9e</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.17pt\">au 31 d\u00e9cembre 2025.</span><span class=\"f charStyle-165dec60 ps29826\" style=\"width:140.1pt\"> \u00c0 cette date, les actifs et passifs</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s s'\u00e9l\u00e8vent respectivement \u00e0 22 millions</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">d'euros et 16 millions d'euros. Sur la base des informations</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">disponibles \u00e0 la cl\u00f4ture, Valeo n'a pas identifi\u00e9 de perte de</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:24.65pt\">valeur.</span></div><div class=\"ps4022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">La contribution de ces activit\u00e9s au chiffre d\u2019affaires du</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.14pt\">Groupe </span><span class=\"f charStyle-81f42323 ps29827\" style=\"width:199.1pt\">s'\u00e9l\u00e8ve \u00e0 35 millions d\u2019euros sur l'exercice 2025 contre 32</span><span class=\"f charStyle-81f42323 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:27.98pt\">millions</span><span class=\"f charStyle-165dec60 ps2539\" style=\"width:101.62pt\"> d'euros sur l'exercice 2024.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-445": {
   "value": "<span class=\"f charStyle-b11f9a65 ps29651\">Actifs et passifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s </span><div class=\"ps29771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">et\u00a0activit\u00e9s abandonn\u00e9es</span></div><div class=\"ps6299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque le Groupe s\u2019attend \u00e0 recouvrer la valeur d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">ou d\u2019un groupe d\u2019actifs, par sa vente plut\u00f4t que par son</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">utilisation, cet actif est pr\u00e9sent\u00e9 distinctement sur la ligne</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00ab\u00a0Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">financi\u00e8re. Les passifs relatifs \u00e0 cet actif sont \u00e9galement</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">pr\u00e9sent\u00e9s, le cas \u00e9ch\u00e9ant, sur la ligne \u00ab\u00a0Passifs destin\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation financi\u00e8re. Un actif</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps6306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">class\u00e9 comme tel est \u00e9valu\u00e9 au montant le plus faible de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps6307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur comptable et de son prix de vente estim\u00e9,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">diminu\u00e9 des frais li\u00e9s \u00e0 la vente. Il ne fait en cons\u00e9quence</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps6309 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:120.6pt\">plus l\u2019objet d\u2019un amortissement.</span></div><div class=\"ps13412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Une activit\u00e9 abandonn\u00e9e repr\u00e9sente, selon la norme</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">IFRS\u00a05 une composante dont le Groupe s\u2019est s\u00e9par\u00e9 ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps22015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:204.37pt\">qui est class\u00e9e comme d\u00e9tenue en vue de la vente, et\u00a0:</span></div><div class=\"ps4793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:212.29pt\">qui repr\u00e9sente une ligne d\u2019activit\u00e9 ou une r\u00e9gion</span><span class=\"f charStyle-dd2d44ff ps16295\" style=\"width:1.75pt\"> </span></div><div class=\"ps4794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:51.2pt\">g\u00e9ographique</span><span class=\"f charStyle-165dec60 ps29773\" style=\"width:87.09pt\"> principale et distincte\u00a0;</span></div><div class=\"ps4796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:212.3pt\">faisant partie d\u2019un plan unique et coordonn\u00e9 pour se</span><span class=\"f charStyle-bd9dab06 ps29668\" style=\"width:1.81pt\"> </span></div><div class=\"ps4797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:41.26pt\">s\u00e9parer d</span><span class=\"f charStyle-165dec60 ps29774\" style=\"width:171.02pt\">\u2019une ligne d\u2019activit\u00e9 ou d\u2019une r\u00e9gion</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:140.81pt\">g\u00e9ographique principale et distincte\u00a0;</span></div><div class=\"ps12145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3c2b601a ps448\" style=\"width:2.62pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps26704\" style=\"width:211.3pt\">ou une filiale acquise exclusivement en vue de la revente.</span></div><div class=\"ps12518 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">La classification comme activit\u00e9 abandonn\u00e9e intervient</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps12520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">au moment de la cession ou \u00e0 une date ant\u00e9rieure</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">lorsque l\u2019activit\u00e9 satisfait aux crit\u00e8res pour \u00eatre class\u00e9e</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comme d\u00e9tenue en vue de la vente. Le r\u00e9sultat ainsi que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">la plus ou moins-value de cession de ces activit\u00e9s sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps16963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">alors pr\u00e9sent\u00e9s, nets d\u2019imp\u00f4ts, sur une ligne distincte du</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">compte de r\u00e9sultat. Le m\u00eame traitement est appliqu\u00e9 de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">mani\u00e8re comparative au compte de r\u00e9sultat de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps12155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div><div class=\"ps4869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Dans le cas des actifs relatifs \u00e0 des activit\u00e9s qui n\u2019ont pas</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9t\u00e9 class\u00e9es en activit\u00e9s abandonn\u00e9es, les \u00e9ventuelles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">pertes de valeur et le r\u00e9sultat de cession de ces actifs sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:175.29pt\">inclus dans le r\u00e9sultat op\u00e9rationnel du Groupe.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscontinuedOperationsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-444": {
   "value": "<span class=\"f charStyle-b11f9a65 ps29651\">Actifs et passifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s </span><div class=\"ps29771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">et\u00a0activit\u00e9s abandonn\u00e9es</span></div><div class=\"ps6299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque le Groupe s\u2019attend \u00e0 recouvrer la valeur d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">ou d\u2019un groupe d\u2019actifs, par sa vente plut\u00f4t que par son</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">utilisation, cet actif est pr\u00e9sent\u00e9 distinctement sur la ligne</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00ab\u00a0Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">financi\u00e8re. Les passifs relatifs \u00e0 cet actif sont \u00e9galement</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">pr\u00e9sent\u00e9s, le cas \u00e9ch\u00e9ant, sur la ligne \u00ab\u00a0Passifs destin\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation financi\u00e8re. Un actif</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps6306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">class\u00e9 comme tel est \u00e9valu\u00e9 au montant le plus faible de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps6307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur comptable et de son prix de vente estim\u00e9,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">diminu\u00e9 des frais li\u00e9s \u00e0 la vente. Il ne fait en cons\u00e9quence</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps6309 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:120.6pt\">plus l\u2019objet d\u2019un amortissement.</span></div><div class=\"ps13412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Une activit\u00e9 abandonn\u00e9e repr\u00e9sente, selon la norme</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">IFRS\u00a05 une composante dont le Groupe s\u2019est s\u00e9par\u00e9 ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps22015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:204.37pt\">qui est class\u00e9e comme d\u00e9tenue en vue de la vente, et\u00a0:</span></div><div class=\"ps4793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:212.29pt\">qui repr\u00e9sente une ligne d\u2019activit\u00e9 ou une r\u00e9gion</span><span class=\"f charStyle-dd2d44ff ps16295\" style=\"width:1.75pt\"> </span></div><div class=\"ps4794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:51.2pt\">g\u00e9ographique</span><span class=\"f charStyle-165dec60 ps29773\" style=\"width:87.09pt\"> principale et distincte\u00a0;</span></div><div class=\"ps4796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:212.3pt\">faisant partie d\u2019un plan unique et coordonn\u00e9 pour se</span><span class=\"f charStyle-bd9dab06 ps29668\" style=\"width:1.81pt\"> </span></div><div class=\"ps4797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:41.26pt\">s\u00e9parer d</span><span class=\"f charStyle-165dec60 ps29774\" style=\"width:171.02pt\">\u2019une ligne d\u2019activit\u00e9 ou d\u2019une r\u00e9gion</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:140.81pt\">g\u00e9ographique principale et distincte\u00a0;</span></div><div class=\"ps12145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3c2b601a ps448\" style=\"width:2.62pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps26704\" style=\"width:211.3pt\">ou une filiale acquise exclusivement en vue de la revente.</span></div><div class=\"ps12518 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">La classification comme activit\u00e9 abandonn\u00e9e intervient</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps12520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">au moment de la cession ou \u00e0 une date ant\u00e9rieure</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">lorsque l\u2019activit\u00e9 satisfait aux crit\u00e8res pour \u00eatre class\u00e9e</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comme d\u00e9tenue en vue de la vente. Le r\u00e9sultat ainsi que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">la plus ou moins-value de cession de ces activit\u00e9s sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps16963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">alors pr\u00e9sent\u00e9s, nets d\u2019imp\u00f4ts, sur une ligne distincte du</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">compte de r\u00e9sultat. Le m\u00eame traitement est appliqu\u00e9 de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">mani\u00e8re comparative au compte de r\u00e9sultat de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps12155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div><div class=\"ps4869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Dans le cas des actifs relatifs \u00e0 des activit\u00e9s qui n\u2019ont pas</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9t\u00e9 class\u00e9es en activit\u00e9s abandonn\u00e9es, les \u00e9ventuelles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">pertes de valeur et le r\u00e9sultat de cession de ces actifs sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:175.29pt\">inclus dans le r\u00e9sultat op\u00e9rationnel du Groupe.</span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Valeo a entam\u00e9 des n\u00e9gociations visant \u00e0 transf\u00e9rer ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s d'\u00e9clairage en Inde dans une coentreprise d\u00e9tenue</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">par Ichikoh et Tata AutoComp Systems. La mise en \u0153uvre de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">cette op\u00e9ration conduirait \u00e0 un changement de m\u00e9thode de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:203.29pt\">consolidation des actifs et des passifs de cette activit\u00e9.</span></div><div class=\"ps29824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Conform\u00e9ment aux crit\u00e8res d'IFRS 5, les actifs et passifs</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29825 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">rattach\u00e9s \u00e0 cette activit\u00e9 figurent en actifs et passifs destin\u00e9s</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps29459 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">\u00e0 \u00eatre c\u00e9d\u00e9s dans l'\u00e9tat de la situation financi\u00e8re consolid\u00e9e</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.17pt\">au 31 d\u00e9cembre 2025.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-443": {
   "value": "<span class=\"f charStyle-b11f9a65 ps29651\">Actifs et passifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s </span><div class=\"ps29771 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps29651\">et\u00a0activit\u00e9s abandonn\u00e9es</span></div><div class=\"ps6299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque le Groupe s\u2019attend \u00e0 recouvrer la valeur d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">ou d\u2019un groupe d\u2019actifs, par sa vente plut\u00f4t que par son</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">utilisation, cet actif est pr\u00e9sent\u00e9 distinctement sur la ligne</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00ab\u00a0Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">financi\u00e8re. Les passifs relatifs \u00e0 cet actif sont \u00e9galement</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">pr\u00e9sent\u00e9s, le cas \u00e9ch\u00e9ant, sur la ligne \u00ab\u00a0Passifs destin\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00eatre c\u00e9d\u00e9s\u00a0\u00bb de l\u2019\u00e9tat de la situation financi\u00e8re. Un actif</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps6306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">class\u00e9 comme tel est \u00e9valu\u00e9 au montant le plus faible de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps6307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur comptable et de son prix de vente estim\u00e9,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">diminu\u00e9 des frais li\u00e9s \u00e0 la vente. Il ne fait en cons\u00e9quence</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps6309 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:120.6pt\">plus l\u2019objet d\u2019un amortissement.</span></div><div class=\"ps13412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Une activit\u00e9 abandonn\u00e9e repr\u00e9sente, selon la norme</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps29772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">IFRS\u00a05 une composante dont le Groupe s\u2019est s\u00e9par\u00e9 ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps22015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:204.37pt\">qui est class\u00e9e comme d\u00e9tenue en vue de la vente, et\u00a0:</span></div><div class=\"ps4793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:212.29pt\">qui repr\u00e9sente une ligne d\u2019activit\u00e9 ou une r\u00e9gion</span><span class=\"f charStyle-dd2d44ff ps16295\" style=\"width:1.75pt\"> </span></div><div class=\"ps4794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps26704\" style=\"width:51.2pt\">g\u00e9ographique</span><span class=\"f charStyle-165dec60 ps29773\" style=\"width:87.09pt\"> principale et distincte\u00a0;</span></div><div class=\"ps4796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:212.3pt\">faisant partie d\u2019un plan unique et coordonn\u00e9 pour se</span><span class=\"f charStyle-bd9dab06 ps29668\" style=\"width:1.81pt\"> </span></div><div class=\"ps4797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps26704\" style=\"width:41.26pt\">s\u00e9parer d</span><span class=\"f charStyle-165dec60 ps29774\" style=\"width:171.02pt\">\u2019une ligne d\u2019activit\u00e9 ou d\u2019une r\u00e9gion</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:140.81pt\">g\u00e9ographique principale et distincte\u00a0;</span></div><div class=\"ps12145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3c2b601a ps448\" style=\"width:2.62pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps26704\" style=\"width:211.3pt\">ou une filiale acquise exclusivement en vue de la revente.</span></div><div class=\"ps12518 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">La classification comme activit\u00e9 abandonn\u00e9e intervient</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps12520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">au moment de la cession ou \u00e0 une date ant\u00e9rieure</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">lorsque l\u2019activit\u00e9 satisfait aux crit\u00e8res pour \u00eatre class\u00e9e</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comme d\u00e9tenue en vue de la vente. Le r\u00e9sultat ainsi que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps29776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">la plus ou moins-value de cession de ces activit\u00e9s sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps16963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">alors pr\u00e9sent\u00e9s, nets d\u2019imp\u00f4ts, sur une ligne distincte du</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">compte de r\u00e9sultat. Le m\u00eame traitement est appliqu\u00e9 de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">mani\u00e8re comparative au compte de r\u00e9sultat de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps12155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div><div class=\"ps4869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Dans le cas des actifs relatifs \u00e0 des activit\u00e9s qui n\u2019ont pas</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9t\u00e9 class\u00e9es en activit\u00e9s abandonn\u00e9es, les \u00e9ventuelles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">pertes de valeur et le r\u00e9sultat de cession de ces actifs sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:175.29pt\">inclus dans le r\u00e9sultat op\u00e9rationnel du Groupe.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-447": {
   "value": "<div class=\"ps29781 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">3.2.1<span class=\"f ps53\"> </span><span id=\"i0818d2d6e7274c5cb3908af154b784ab\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29780\"><span style=\"display:inline-block;height:8.71pt;width:15.17pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Op\u00e9rations finalis\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps29782 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400\"><span class=\"ps275\">3.2.1.1<span style=\"display:inline-block;height:8.22pt;width:10.66pt\"></span></span><span class=\"ps29285\">Cession de l'activit\u00e9 de capteurs </span><span id=\"ida82d820449044d1987460108c380862\"></span></span></div><div class=\"ps29783 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">automobiles pour syst\u00e8mes de propulsion</span></div><div class=\"ps29784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Le 30 avril 2025, Sinotec a sign\u00e9 une promesse d'achat de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:39.02pt\">l\u2019activit\u00e9 </span><span class=\"f charStyle-9206869b ps29785\" style=\"width:190.31pt\">de capteurs automobiles pour syst\u00e8mes de</span><span class=\"f charStyle-9206869b ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps29788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:75.71pt\">propulsion de Valeo</span><span class=\"f charStyle-165dec60 ps29787\" style=\"width:153.6pt\">. Le contrat de cession a \u00e9t\u00e9 sign\u00e9 le 10</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29789 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">juillet 2025 et la cl\u00f4ture de cette op\u00e9ration est intervenue le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27075 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:71.31pt\">30 novembre 2025.</span><span class=\"f charStyle-165dec60 ps26461\" style=\"width:1.96pt\"> </span></div><div class=\"ps26521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">La cession de cette activit\u00e9 a donn\u00e9 lieu \u00e0 la comptabilisation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps26522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">d\u2019une plus-value de cession de 4 millions d\u2019euros pr\u00e9sent\u00e9e</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps29792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:125.07pt\">en autres produits et charges (cf. </span><span class=\"f charStyle-165dec60 ps29790\" style=\"width:40.84pt\">Note\u00a05.6.2.1</span><span class=\"f charStyle-165dec60 ps29791\" style=\"width:43.58pt\">, page 404).</span></div><div class=\"ps17493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:229.27pt\">Les actifs et passifs de l\u2019activit\u00e9 de capteurs automobiles</span><span class=\"f charStyle-9206869b ps415\" style=\"width:1.9pt\"> </span></div><div class=\"ps17495 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:229.33pt\">permettant les mesures de temp\u00e9rature, de pression et de</span><span class=\"f charStyle-9206869b ps412\" style=\"width:1.9pt\"> </span></div><div class=\"ps17496 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:187.29pt\">position de tous types de syst\u00e8mes de propulsion </span><span class=\"f charStyle-165dec60 ps29793\" style=\"width:42.01pt\">avaient \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps6360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">class\u00e9s en actifs et passifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s dans l'\u00e9tat de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:32.99pt\">situation</span><span class=\"f charStyle-d77d7991 ps20392\" style=\"width:44.64pt\"> financi\u00e8re </span><span class=\"f charStyle-165dec60 ps29794\" style=\"width:151.64pt\">consolid\u00e9e au 31 d\u00e9cembre 2024 pour</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps6362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:217.99pt\">respectivement 100 millions d'euros et 47 millions d'euros.</span><span class=\"f charStyle-165dec60 ps29795\" style=\"width:1.96pt\"> </span></div><div class=\"ps15787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">La contribution de cette activit\u00e9 au chiffre d'affaires du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Groupe s\u2019est \u00e9lev\u00e9e \u00e0 133 millions d'euros en 2025 (11 mois<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15789 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.22pt\">d'activit\u00e9) </span><span class=\"f charStyle-49b068b5 ps29796\" style=\"width:189.09pt\">contre 128 millions d'euros sur l'exercice 2024 (12</span><span class=\"f charStyle-49b068b5 ps418\" style=\"width:1.86pt\"> </span></div><div class=\"ps6368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:56.55pt\">mois d'activit\u00e9).</span><span class=\"f charStyle-49b068b5 ps29797\" style=\"width:1.86pt\"> </span></div><div class=\"ps29798 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400\"><span class=\"ps275\">3.2.1.2<span style=\"display:inline-block;height:8.22pt;width:8.98pt\"></span></span><span class=\"ps29285\">Cession de la filiale gestigon GmbH</span><span id=\"i3515402b493e44f88ad33b633d6b04f5\"></span></span></div><div class=\"ps29799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">En octobre 2025, Valeo a c\u00e9d\u00e9 \u00e0 Majelan X sa filiale gestigon</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps29800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">sp\u00e9cialis\u00e9e dans les logiciels de traitement d\u2019images en 3D</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps29801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">de l\u2019habitacle. Le r\u00e9sultat de cette op\u00e9ration est pr\u00e9sent\u00e9 en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:113.51pt\">autres produits et charges (cf. </span><span class=\"f charStyle-165dec60 ps29802\" style=\"width:40.84pt\">Note\u00a05.6.2.1</span><span class=\"f charStyle-165dec60 ps29803\" style=\"width:43.58pt\">, page 404).</span><span class=\"f charStyle-165dec60 ps29804\" style=\"width:1.96pt\"> </span></div><div class=\"ps29806 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">La contribution de cette activit\u00e9 au chiffre d'affaires du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29808 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:167.51pt\">Groupe en 2024 et 2025 est non significative.</span><span class=\"f charStyle-165dec60 ps29807\" style=\"width:1.96pt\"> </span></div><div class=\"ps29809 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400\"><span class=\"ps275\">3.2.1.3<span style=\"display:inline-block;height:8.22pt;width:8.96pt\"></span></span><span class=\"ps29285\">Cession de l\u2019activit\u00e9 pi\u00e8ces d\u00e9cor\u00e9es </span><span id=\"i9fc0530dfb834537a4733427c83ec451\"></span></span></div><div class=\"ps29810 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">en\u00a0Malaisie</span></div><div class=\"ps4774 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.23pt\">Le 24 d\u00e9cembre 2025, le Groupe a sign\u00e9 un contrat avec la</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps4775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">soci\u00e9t\u00e9 Nationgate System SDN BHD pour lui c\u00e9der sa filiale</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">en Malaisie sp\u00e9cialis\u00e9e dans la production de pi\u00e8ces</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4777 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">d\u00e9cor\u00e9es fabriqu\u00e9es par injection plastique et assemblage</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4778 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">de modules \u00e9lectroniques. Le r\u00e9sultat de cette op\u00e9ration est</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:164.6pt\">pr\u00e9sent\u00e9 en autres produits et charges (cf. </span><span class=\"f charStyle-165dec60 ps12515\" style=\"width:41.43pt\">Note\u00a05.6.2.1</span><span class=\"f charStyle-165dec60 ps29811\" style=\"width:23.3pt\">, page</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">404).</span></div><div class=\"ps29812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">En 2025 comme en 2024, la contribution de cette activit\u00e9 au</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps12136 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:219.8pt\">chiffre d'affaires du Groupe s\u2019est \u00e9lev\u00e9e \u00e0 2 millions d'euros</span><span class=\"f charStyle-49b068b5 ps29813\" style=\"width:1.49pt\">.</span><span class=\"f charStyle-165dec60 ps29814\" style=\"width:1.96pt\"> </span></div><div class=\"ps29815 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400\"><span class=\"ps275\">3.2.1.4<span style=\"display:inline-block;height:8.22pt;width:8.14pt\"></span></span><span class=\"ps29285\">Cession de la participation minoritaire dans </span><span id=\"i51e39b0177ac498894ba8a4052e8b0f7\"></span></span></div><div class=\"ps29816 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">la coentreprise Faw-Valeo Climate Control </span></div><div class=\"ps29817 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">Systems</span></div><div class=\"ps15812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Le 4 juillet 2025, Valeo a sign\u00e9 un protocole d'accord</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">concernant la cession de sa participation minoritaire de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps15814 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.49pt\">36,5\u00a0%</span><span class=\"f charStyle-165dec60 ps29818\" style=\"width:202.81pt\"> dans la coentreprise Faw-Valeo Climate Control</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29819 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Systems Co. Ltd, op\u00e9rant en Chine. La cession est intervenue</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps29820 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:71.73pt\">en novembre 2025.</span></div><div class=\"ps19551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Le prix de cession pr\u00e9vu par ce protocole d'accord avait</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19552 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">conduit le Groupe \u00e0 d\u00e9pr\u00e9cier la valeur des titres mis en</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">\u00e9quivalence de la soci\u00e9t\u00e9 dans ses \u00e9tats financiers consolid\u00e9s</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps18251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">au 30 juin 2025. Cette perte de valeur est pr\u00e9sent\u00e9e dans les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps18252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">r\u00e9sultats des entreprises mises en \u00e9quivalence (cf Note 5.5.3,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:178.39pt\">pages 401 \u00e0 403) au sein du compte de r\u00e9sultat.</span><span class=\"f charStyle-165dec60 ps29821\" style=\"width:1.96pt\"> </span></div><div class=\"ps30621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.3<span id=\"i22210b0c2cfe4101a0f1619a6177d5a3\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30620\"><span style=\"display:inline-block;height:8.71pt;width:13.3pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Entreprises associ\u00e9es et coentreprises</span></div><div class=\"ps30622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.1<span id=\"i3a0cd2b6293d43de9baae091725610cd\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps17328\"><span style=\"display:inline-block;height:8.22pt;width:8.9pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Toutes les participations comptabilis\u00e9es selon la m\u00e9thode de la mise en \u00e9quivalence, qu\u2019il s\u2019agisse des coentreprises ou des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps2658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">entreprises associ\u00e9es, s\u2019inscrivent dans le prolongement de l\u2019activit\u00e9 op\u00e9rationnelle du Groupe et sont rattach\u00e9es \u00e0 l'un de ses</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">trois secteurs op\u00e9rationnels. Elles sont int\u00e9gr\u00e9es dans le reporting interne du Groupe au sens de la norme IFRS\u00a08 et leur</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps2660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:368.81pt\">performance op\u00e9rationnelle est suivie au niveau de chaque Division \u00e0 laquelle elles appartiennent.</span></div><div class=\"ps30629 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.42pt\"></span></span><span class=\"ps30603\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.4pt\"></span></span><span class=\"ps19256\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.33pt\"></span></span><span class=\"ps28284\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Shanghai Valeo Automotive Electrical Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.99pt\"></span></span><span class=\"ps28391\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Faw-Valeo Climate Control Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-f573b8b5 ps10\">QUOTE-PART DANS LES R\u00c9SULTATS DES ENTREPRISES MISES EN \u00c9QUIVALENCE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.48pt\"></span></span><span class=\"ps30627\">(20)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.2<span id=\"i9b3405a938e14d96a66521a97ea4a3eb\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30630\"><span style=\"display:inline-block;height:8.22pt;width:7.22pt\"></span></span><span class=\"ps29285\">Participations dans les soci\u00e9t\u00e9s mises en \u00e9quivalence</span></span></div><div class=\"ps30632 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les entreprises associ\u00e9es<span id=\"i454fdff3cb1a40b4bda26c32ae43bf83\"></span></span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:341.01pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les entreprises associ\u00e9es\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30640 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 1</span><span class=\"f charStyle-f4bb8995 ps30633\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps20641\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.72pt\"></span></span><span class=\"ps30634\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.26pt\"></span></span><span class=\"ps18578\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:271.59pt\">Les participations dans les entreprises associ\u00e9es sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.91pt\"></span></span><span class=\"ps30645\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.94pt\"></span></span><span class=\"ps30646\">13<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30647 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES ENTREPRISES ASSOCI\u00c9ES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">21<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.88pt\"></span></span><span class=\"ps7626\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30648 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les coentreprises<span id=\"i45a5d8663d924b43a3a64770174f4c10\"></span></span></div><div class=\"ps30649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:312.58pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les coentreprises\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30657 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 1</span><span class=\"f charStyle-f4bb8995 ps30650\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30651\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Quote-part dans les r\u00e9sultats des coentreprises</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.53pt\"></span></span><span class=\"ps30265\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Variations de p\u00e9rim\u00e8tre</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres mouvements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.07pt\"></span></span><span class=\"ps30655\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.69pt\"></span></span><span class=\"ps30656\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.34pt\"></span></span><span class=\"ps28303\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:243.16pt\">Les participations dans les coentreprises sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps30667 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Automotive Electrical <span class=\"f ps53\"> </span></span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-a696f64a ps10\">Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.38pt\"></span></span><span class=\"ps3134\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.39pt\"></span></span><span class=\"ps30658\">32<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23546 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-044fe383 ps10\">Fawer Valeo eAutomotive Parts </span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-044fe383 ps10\">(Changshu)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30660 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30661 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30662 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">19<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29320 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10289 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-2d4711d3 ps10\">Faw-Valeo Climate Control Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10328 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.66pt\"></span></span><span class=\"ps30664\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10329 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.55pt\"></span></span><span class=\"ps26141\">36,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10330 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10331 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10332 ss673\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10333 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10334 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10335 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10336 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps9780 ss517\"><div><div class=\"ps509 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES COENTREPRISES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10339 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.09pt\"></span></span><span class=\"ps19757\">43<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10340 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.84pt\"></span></span><span class=\"ps30666\">88<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">En d\u00e9cembre 2025, Valeo a c\u00e9d\u00e9 sa participation minoritaire de 36,5 % dans la coentreprise Faw-Valeo Climate Control Systems</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:396.04pt\">Co. Ltd, op\u00e9rant en Chine. Dans ses \u00e9tats financiers consolid\u00e9s au 30 juin 2025, le Groupe avait d\u00e9pr\u00e9ci\u00e9 </span><span class=\"f charStyle-165dec60 ps20961\" style=\"width:85.3pt\">la valeur des titres mis</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:105.67pt\">en \u00e9quivalence de la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps30670\" style=\"width:327.38pt\"> sur la base du prix de cession pr\u00e9vu par le protocole d'accord relatif \u00e0 cette transaction.</span></div><div class=\"ps30674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.3<span id=\"ib6cee7d98ba247f6ae704801ee6f6246\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30673\"><span style=\"display:inline-block;height:8.22pt;width:7.2pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Donn\u00e9es financi\u00e8res des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:210.89pt\">Les donn\u00e9es sont pr\u00e9sent\u00e9es \u00e0 100 % et en normes IFRS.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30675\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">Les donn\u00e9es des entreprises associ\u00e9es et des coentreprises mises en \u00e9quivalence sont pr\u00e9sent\u00e9es de mani\u00e8re agr\u00e9g\u00e9e en raison</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps14155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:238.53pt\">du\u00a0caract\u00e8re individuellement non significatif de chaque entit\u00e9.</span></div><div class=\"ps30676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Entreprises associ\u00e9es<span id=\"ibb0a0fa5c5264555ba337f02de88043e\"></span></span></div><div class=\"ps5025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:295.35pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des entreprises associ\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30681 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.16pt\"></span></span><span class=\"ps27977\">38<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.26pt\"></span></span><span class=\"ps30677\">44<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.82pt\"></span></span><span class=\"ps30678\">68<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.97pt\"></span></span><span class=\"ps30679\">78<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.29pt\"></span></span><span class=\"ps30680\">(7)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.51pt\"></span></span><span class=\"ps23528\">(45)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.05pt\"></span></span><span class=\"ps20621\">(57)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30685 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.72pt\"></span></span><span class=\"ps2611\">287<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.02pt\"></span></span><span class=\"ps30682\">313<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.71pt\"></span></span><span class=\"ps30683\">(280)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.27pt\"></span></span><span class=\"ps30684\">(302)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">C<span id=\"i2491344f02b64580a8b4c047fe0dab9e\"></span></span><span class=\"f charStyle-aa33f529 ps30686\">oentreprises</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:266.92pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des coentreprises sont les suivantes\u00a0:</span></div><div class=\"ps30695 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps27733\">31\u00a0d\u00e9cembre 2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.83pt\"></span></span><span class=\"ps30687\">137<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.26pt\"></span></span><span class=\"ps30688\">150<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.79pt\"></span></span><span class=\"ps30689\">269<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.42pt\"></span></span><span class=\"ps30690\">306<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.5pt\"></span></span><span class=\"ps30691\">(24)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(25)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.54pt\"></span></span><span class=\"ps30693\">(315)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.28pt\"></span></span><span class=\"ps30694\">(324)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30699 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">519<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">651<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.26pt\"></span></span><span class=\"ps30697\">(542)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.67pt\"></span></span><span class=\"ps30698\">(632)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.4<span id=\"id44eaf74946b42bebe1c013c73cd8b00\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30700\"><span style=\"display:inline-block;height:8.22pt;width:6.38pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Transactions avec les entreprises mises en \u00e9quivalence (parties li\u00e9es)</span></div><div class=\"ps30702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les comptes consolid\u00e9s incluent des op\u00e9rations effectu\u00e9es par le Groupe dans le cadre normal de ses activit\u00e9s avec les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:391.74pt\">entreprises associ\u00e9es et les coentreprises. Ces transactions se font \u00e0 des conditions normales de march\u00e9.</span></div><div class=\"ps30704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les entreprises associ\u00e9es<span id=\"ie435d98af34f4abba80f704d624da975\"></span></span></div><div class=\"ps30706 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.92pt\"></span></span><span class=\"ps883\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.91pt\"></span></span><span class=\"ps30705\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30709 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.5pt\"></span></span><span class=\"ps20357\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.69pt\"></span></span><span class=\"ps29563\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.05pt\"></span></span><span class=\"ps30708\">(41)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30710 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les coentreprises<span id=\"ia2247e92d8894838bfc50d8a3ac7fddf\"></span></span></div><div class=\"ps30716 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.8pt\"></span></span><span class=\"ps30711\">47<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.96pt\"></span></span><span class=\"ps28410\">42<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">(10)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.22pt\"></span></span><span class=\"ps23632\">(18)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30712 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30713 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.9pt\"></span></span><span class=\"ps30259\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30715 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.35pt\"></span></span><span class=\"ps30714\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30720 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.51pt\"></span></span><span class=\"ps30717\">112<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.55pt\"></span></span><span class=\"ps30718\">104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.59pt\"></span></span><span class=\"ps30719\">(71)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps27028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.27pt\">Les placements long terme s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34814\" style=\"width:44.29pt\">272 millions</span><span class=\"f charStyle-165dec60 ps34815\" style=\"width:19.92pt\"> \u00e0 fin </span><span class=\"f charStyle-165dec60 ps34816\" style=\"width:58.58pt\">d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps17656\" style=\"width:101.7pt\"> et ont \u00e9volu\u00e9 comme suit\u00a0:</span></div><div class=\"ps34821 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 1</span><span class=\"f charStyle-f4bb8995 ps34817\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps34818\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">321<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en capitaux propres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les fonds communs de placement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.56pt\"></span></span><span class=\"ps34819\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:334.22pt\">Ils sont principalement compos\u00e9s des titres de participations dans les soci\u00e9t\u00e9s suivantes\u00a0:</span></div><div class=\"ps34830 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.45pt\"></span></span><span class=\"ps34823\">52<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine II<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.46pt\"></span></span><span class=\"ps34825\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">41<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund II (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund III (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Iris Capital<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.28pt\"></span></span><span class=\"ps34827\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.74pt\"></span></span><span class=\"ps28147\">24<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aledia</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Autres placements long terme\u00a0</span><span class=\"f charStyle-4da12822 ps34828\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.14pt\"></span></span><span class=\"ps34829\">56<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:466.99pt\">Autres participations dans des fonds d\u2019investissement et des soci\u00e9t\u00e9s sur lesquelles Valeo n\u2019exerce ni contr\u00f4le ni influence notable dont la</span><span class=\"f charStyle-776a1ec6 ps1288\" style=\"width:1.7pt\"> </span></div><div class=\"ps34832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:168.03pt\">valeur individuelle n'exc\u00e8de pas 20 millions d\u2019euros.</span></div><div><div id=\"i2875f4fbc551449b952701acfd85d7df_1006\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i722fbe0fc23942288684937b5ee0cbf0\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">14<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35545\"><span style=\"display:inline-block;height:13.55pt;width:29.68pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Liste </span><span class=\"f charStyle-26f8f9e5 ps35546\">des soci\u00e9t\u00e9s consolid\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps35609 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">EUROPE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">FRANCE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (soci\u00e9t\u00e9 m\u00e8re)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 11<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">SC2N </span><span class=\"f charStyle-4da12822 ps35557\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Embrayages</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management\u00a0 (ex-Valeo Bayen) </span><span class=\"f charStyle-4da12822 ps35562\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services </span><span class=\"f charStyle-4da12822 ps35565\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Comfort and Driving Assistance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo \u00c9lectrification</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes d\u2019Essuyage<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Syst\u00e8mes Thermiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power France </span><span class=\"f charStyle-4da12822 ps35580\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Equipement 22 <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo ExpertIn<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35587\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25491\"></span><span class=\"ps25491\">50,1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ESPAGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Espa\u00f1a, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Termico, S.A.U.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ITALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Italia, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo, S.p.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0</span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35612 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.</span></div><div class=\"ps35613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.</span></div><div class=\"ps35614 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.</span></div><div class=\"ps4730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.</span></div><div class=\"ps4731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.</span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">ALLEMAGNE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Auto-Electric GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35616\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35618\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Holding GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35621\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Klimasysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35622\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Schalter und Sensoren GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35623\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Service Deutschland GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35624\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Wischersysteme GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35625\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Telematik und Akustik GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35626\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Germany GmbH </span><span class=\"f charStyle-4da12822 ps35627\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive BSAES Holding GmbH </span><span class=\"f charStyle-4da12822 ps35628\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE Verwaltungs GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35629\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Powertrain GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35630\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive systems GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35631\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">FTE automotive M\u00f6ve GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35632\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">gestigon GmbH\u00a0</span><span class=\"f charStyle-4da12822 ps35633\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems GmbH </span><span class=\"f charStyle-4da12822 ps35634\"><span class=\"f ps53\"> </span><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROYAUME-UNI</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo (UK) Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Climate Control Limited </span><span class=\"f charStyle-4da12822 ps35635\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Management Services UK Limited </span><span class=\"f charStyle-4da12822 ps35639\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service UK Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Air Management UK Limited </span><span class=\"f charStyle-4da12822 ps35640\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">IRLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Connaught Electronics Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">HI-KEY Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh Holding Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35652 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35655 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35657 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35659 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BELGIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Belgique<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">LUXEMBOURG</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Coreval<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">PAYS-BAS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sub-Holdings C.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Holding Netherlands B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo International Holding B.V.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Lucia Technologies B.V. <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">R\u00c9PUBLIQUE TCH\u00c8QUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autoklimatizace k.s.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor Europe s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vymeniky Tepla s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Czechia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems s.r.o </span><span class=\"f charStyle-4da12822 ps35660\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">SLOVAQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE automotive Slovakia s.r.o.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">POLOGNE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Autosystemy Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Electric and Electronic Systems Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Eastern Europe Sp.ZO.O.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">HONGRIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto-Electric Hungary LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive Hungary Kft.</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">ROUMANIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Injection SA<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps546 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sisteme Termice S.R.L.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35648 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35649 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35650 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35651 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps547 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">RUSSIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35661 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Technology Rus Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35662 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35663 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35664 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35665 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35666 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Limited Liability Company<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35667 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35668 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35669 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35670 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TURQUIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Otomotiv Sanayi ve Ticaret AS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AFRIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">TUNISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">DAV Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Embrayages Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Tunisie S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MAROC</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Vision Maroc, S.A.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9GYPTE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Internal Automotive Software Egypt<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Detection Systems LLC <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AFRIQUE DU SUD</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Systems South Africa (Proprietary) Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Thermal Systems East London (Pty) Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25656\">51<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35678\"></span><span class=\"ps35678\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU NORD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">\u00c9TATS-UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Radar Systems, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems LLC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">49<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec North America, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35680 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35681 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35682 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps10484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35683 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35684 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">CANADA<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Canada, Inc.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MEXIQUE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Delmex de Juarez, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotrices de M\u00e9xico, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electricos, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Electronicos, S de RL de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mexico Tech Center, SA de CV <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Telematica y Acustica, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">FTE Mexicana, SA de CV<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">AM\u00c9RIQUE DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">BR\u00c9SIL</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Sistemas Automotivos Ltda<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-3f403986 ps10\">ASIE PACIFIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">THA\u00cfLANDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Siam Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31339\"></span><span class=\"ps31339\">74,9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Comfort and Driving Assistance Systems (Thailand)\u00a0Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries (Thailand) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25973\">61<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps17125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35685 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35686 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35689 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">COR\u00c9E DU SUD<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive Korea Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Electrical Systems Korea Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong Hwa Automotive Components Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Pyeong HWA International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35555 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35556 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26079 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23898 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Samsung Thermal Systems Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Pyeong HWA Metals Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Kapec Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems Korea Co. Ltd </span><span class=\"f charStyle-4da12822 ps35692\"><sup>(4)</sup></span><span class=\"f charStyle-044fe383 ps35693\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo PHC Thermal Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Korea Co. Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo PHC High Voltage Systems Co., Ltd. </span><span class=\"f charStyle-4da12822 ps35694\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps35695\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDON\u00c9SIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT Valeo AC Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">PT VPH Asean Transmission</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">PT. Ichikoh Indonesia<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">MALAISIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Malaysia SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh (Malaysia) SDN.BHD.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35696\"></span><span class=\"ps35696\">43<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Malaysia CDA SDN.BHD. </span><span class=\"f charStyle-4da12822 ps35697\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">EMIRATS ARABES UNIS</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Middle East Aftermarket FZE (ex-Valeo Thermal </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Commercial Vehicles Middle East FZE) </span><span class=\"f charStyle-4da12822 ps35698\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16748 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">AUSTRALIE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16754 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Service Australia PTY Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35699 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35700 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35701 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35702 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35706 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35707 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35708 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35709 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">JAPON<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ichikoh Industries Limited<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13207 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35617 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26065 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25235 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Kyushu Ichikoh Industries. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35619 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35620 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26069 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25240 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34893\"></span><span class=\"ps34893\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Japan Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35550 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35552 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26072 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25244 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Japan K,K<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35553 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35554 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26076 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25249 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">CHINE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Faw-Valeo Climate Control Systems Co. Ltd </span><span class=\"f charStyle-4da12822 ps35711\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35558 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35559 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26084 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26086 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35712\">36,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Ichikoh Valeo Auto Lighting Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35560 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35561 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26090 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25260 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25263\">94<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Guangzhou Valeo Engine Cooling Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35563 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35564 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26094 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3493 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Huada Automotive Air Conditioner (Hunan) Co. Ltd </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35566 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35567 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26098 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25270 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25259\">66<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Nanjing Valeo Clutch Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35568 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35569 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26099 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26101 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps35713\">37,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3846 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Shanghai Valeo Automotive Electrical Systems Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35570 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35571 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26104 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26106 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26107 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35572 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35573 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26111 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26113 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26114 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shenyang Valeo Pyeong-Hwa Transmission Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35574 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35575 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26118 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26120 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14618 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Taizhou Valeo Wenling Automotive Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35576 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35577 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26123 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26124 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14552 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Auto Parts Trading (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35578 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35579 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26128 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26130 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16690 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Automotive Air Conditioning Hubei Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35581 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35582 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26135 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26137 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Kapec Torque Converters (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35583 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35584 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26138 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26139 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Engine Cooling (Foshan) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35585 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35586 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35588 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35589 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Compressor (Changchun) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35636 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35637 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35638 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23319 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23717 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35590 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35591 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35592 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23721 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Ichikoh (China) Auto Lighting Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35593 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35594 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35595 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35596 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35597 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35598 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35599 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35600 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35601 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8593 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Interior Controls (Shenzhen) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35641 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35642 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26271 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26273 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11574 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Lighting Hubei Technical Center Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35602 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35603 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26383 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26384 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps28653\"></span><span class=\"ps28653\">94<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35604 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Management (Shanghai) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35605 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35606 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35607 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35608 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35643 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-0e45555a ps10\">Valeo Comfort Driving Assistance Systems (Guangzhou) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35644 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35645 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35646 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35647 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps3007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35716 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35717 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35719 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35720 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:239pt\">entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.<span class=\"f ps53\"> </span></span></div></div><div class=\"ps564 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2215\"><div><div class=\"ps9325 ss2214\"><span class=\"f charStyle-ae6044e9 ps10\">Soci\u00e9t\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps35548 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-6bef0edd ps35547\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps742 ss1851\"><div><div class=\"ps509 ss694\"><span class=\"f charStyle-ae6044e9 ps11103\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33285 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-6bef0edd ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1797\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23257\">M\u00e9thode <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps35549\">d'int\u00e9gration</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-ae6044e9 ps14601\">% d'int\u00e9r\u00eat<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Shanghai Automotive Electric Motors &amp; Wiper </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Systems\u00a0Co.\u00a0Ltd <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35721 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps757 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps25232 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Wuxi Valeo Automotive Components and System Co., Ltd </span><span class=\"f charStyle-4da12822 ps35722\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35723 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16370 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35444\"></span><span class=\"ps35444\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25920 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25921 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Changshu Valeo Automotive Wiper System Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35724 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35725 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11132 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Pyeong Hwa International Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35726 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35727 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25923 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25786 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Shenzhen) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35728 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35729 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25926 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25793 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Automotive ePowertrain Systems (Shanghai) Co. Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35730 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35731 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25929 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3474 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Bluepark Automotive E-Drive Systems (Changzhou) Co. <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Ltd. </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35732 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35734 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25932 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25934 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps792 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Foshan Valeo Electronic Auto Parts Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35735 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35736 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35737 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35738 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps793 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Powertrain (Nanjing) Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35739 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35740 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps800 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35741 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps803 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo ePowertrain (Tianjin) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35742 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35743 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35744 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25820 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps804 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo eAutomotive (Changshu) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35745 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35746 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps812 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25826 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25441 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Fawer Valeo eAutomotive Parts Changshu <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35747 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35748 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35749 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25449 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps29997\"></span><span class=\"ps29997\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10569 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Power Technology (Nanjing) Co., Ltd (ex-FTE automotive </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">(Taicang) Co. Ltd)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35750 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35751 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35752 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25456 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3877 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Zhihui Valeo (Zhejiang) Auto Parts Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35753 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35754 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35755 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25464 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3904\"></span><span class=\"ps3904\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28407 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Mobility Systems (Shanghai\uff09Co., Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35756 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35757 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35758 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35759 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28413 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Detection Systems (Shenzhen) Co., Ltd</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35760 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35761 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35762 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35763 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3907 ss2217\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Valeo Special Products eAutomotive Lighting (Changshu) Co., </span></div><div class=\"ps748 ss2214\"><span class=\"f charStyle-044fe383 ps10\">Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35764 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35765 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35766 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35767 ss280\"><div><div class=\"ps6851 ss211\"><span class=\"f charStyle-a696f64a ps26363\">100<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10608 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-c942a721 ps10\">INDE</span></div></div></div></td><td colspan=\"2\" style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35768 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Amalgamations Valeo Clutch Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35769 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35770 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35771 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps1975\">EQ<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35772 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps23640\"></span><span class=\"ps23640\">50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35773 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo Friction Materials India Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35774 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35775 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35776 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35777 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35733\"></span><span class=\"ps35733\">60<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps542 ss2216\"><div><div class=\"ps746 ss2214\"><span class=\"f charStyle-a696f64a ps10\">Valeo India Private Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35778 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35779 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35780 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a ps25828\">IG<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35781 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35551\"></span><span class=\"ps35551\">100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps6305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.98pt\">IG<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35610\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps19993\" style=\"width:82.03pt\">: Int\u00e9gration globale / EQ<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35611\" style=\"width:1.96pt\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps13241\" style=\"width:149.24pt\">: mise en \u00e9quivalence (cf. Note 3.1.1, page 390).<span class=\"f ps53\"> </span></span></div><div class=\"ps35782 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:301.46pt\">Cr\u00e9ation sur la p\u00e9riode sans impact significatif sur les \u00e9tats financiers consolid\u00e9s du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps35783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.92pt\">Acquisition.<span class=\"f ps53\"> </span></span></div><div class=\"ps35784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:29.67pt\">Cessions.<span class=\"f ps53\"> </span></span></div><div class=\"ps35785 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:75.11pt\">Fusions et liquidations.<span class=\"f ps53\"> </span></span></div><div class=\"ps35786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ces entit\u00e9s, consolid\u00e9es dans les \u00e9tats financiers du groupe Valeo, exercent leur droit au titre du paragraphe 264 \u2013 sous-paragraphe 3 \u2013 du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">Code de Commerce allemand (HGB) sur l\u2019exemption et la pr\u00e9paration. Les \u00e9tats financiers consolid\u00e9s de Valeo incluent les \u00e9tats financiers des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div>entit\u00e9s identifi\u00e9es. Ils seront publi\u00e9s dans la Gazette F\u00e9d\u00e9rale Allemande.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-449": {
   "value": "<div class=\"ps29828 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">3.3<span id=\"ia6211bf71734423093dc5a2af7ded8bc\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps8947\"><span style=\"display:inline-block;height:10.16pt;width:27.35pt\"></span></span></span><span class=\"f charStyle-25177d68 ps29267\">Engagements hors bilan li\u00e9s <span class=\"f ps53\"> </span></span></div><div class=\"ps29829 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">au\u00a0p\u00e9rim\u00e8tre de consolidation<span class=\"f ps53\"> </span></span></div><div class=\"ps29831 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps448\">3.3.1<span class=\"f ps53\"> </span><span id=\"i3e484f1c0f6f4db69c724368603a599d\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29830\"><span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps17462\">Engagements donn\u00e9s</span></span></div><div class=\"ps29832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">Valeo et V. Johnson Enterprises ont form\u00e9 la soci\u00e9t\u00e9 Detroit<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:30.02pt\">Thermal</span><span class=\"f charStyle-165dec60 ps29833\" style=\"width:89.52pt\"> Systems en 2012. Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29834\" style=\"width:71.64pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29835\" style=\"width:38.15pt\">, Valeo et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29837 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">V.\u00a0Johnson Enterprises en sont actionnaires respectivement</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29838 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:95.92pt\">\u00e0 hauteur de 49\u00a0% et 51\u00a0%.</span></div><div class=\"ps14968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">V. Johnson Enterprises dispose d\u2019une option de vente dont</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14969 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l'exercice est conditionn\u00e9 \u00e0 la survenance d'\u00e9v\u00e9nements</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps14970 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">pr\u00e9cis\u00e9s contractuellement et qui ne sont pas li\u00e9s \u00e0 un</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps8023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">niveau de r\u00e9sultat. Cette option serait notamment exer\u00e7able<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">si Valeo ne pouvait contribuer au financement de la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps8026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">ou encore en cas de cession de tout ou partie de sa</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">participation \u00e0 un tiers. En cas d'exercice de l\u2019option, la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">totalit\u00e9 des titres d\u00e9tenus par V. Johnson Enterprises serait</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps14976 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">vendue \u00e0 Valeo et le prix serait d\u00e9termin\u00e9 selon les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">dispositions pr\u00e9vues dans l\u2019accord r\u00e9gissant la gouvernance</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps14978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:48.24pt\">de la soci\u00e9t\u00e9.</span></div><div class=\"ps29839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">Par ailleurs, dans le cadre des op\u00e9rations de cession r\u00e9alis\u00e9es en</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps14980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:16.98pt\">2025</span><span class=\"f charStyle-81f42323 ps29840\" style=\"width:212.3pt\"> et lors des exercices pr\u00e9c\u00e9dents, Valeo a accord\u00e9 diverses</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps14982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">garanties de passif usuelles pour ce type d\u2019op\u00e9rations. Au</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps17896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:64.88pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps29841\" style=\"width:164.42pt\">, le montant total de ces garanties s\u2019\u00e9l\u00e8ve \u00e0 92</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps17897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.25pt\">millions d'euros, dont 76 millions d'euros dans le cadre des</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps17898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.29pt\">cessions des activit\u00e9s Syst\u00e8mes thermiques v\u00e9hicules</span><span class=\"f charStyle-81f42323 ps467\" style=\"width:1.78pt\"> </span></div><div class=\"ps17899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">commerciaux en 2024 et capteurs automobiles pour syst\u00e8mes</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps17903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:93.01pt\">de propulsion en 2025 (cf. </span><span class=\"f charStyle-81f42323 ps29842\" style=\"width:36.8pt\">Note 3.2.1.1</span><span class=\"f charStyle-81f42323 ps29843\" style=\"width:38.18pt\">, page 392)</span></div><div class=\"ps29845 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps448\">3.3.2<span id=\"i6506c0d646e841bc92ba8040fad8d7ed\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29844\"><span style=\"display:inline-block;height:8.71pt;width:13.37pt\"></span></span><span class=\"ps17462\">Engagements re\u00e7us</span></span></div><div class=\"ps9239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:12.62pt\">Au </span><span class=\"f charStyle-81f42323 ps29846\" style=\"width:66.16pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps19035\" style=\"width:46.67pt\">, comme au </span><span class=\"f charStyle-81f42323 ps29847\" style=\"width:66.87pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-81f42323 ps29848\" style=\"width:37pt\">, Valeo n'a</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps6830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:207.15pt\">pas d'engagement re\u00e7u li\u00e9 au p\u00e9rim\u00e8tre de consolidation.<span class=\"f ps53\"> </span></span></div><div class=\"ps32746 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.5<span id=\"ie856e32260d24eee84af04f03e1a60e9\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps32745\"><span style=\"display:inline-block;height:10.16pt;width:27.02pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Engagements hors bilan li\u00e9s aux locations et aux investissements<span class=\"f ps53\"> </span></span></div><div class=\"ps32748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:283.65pt\">Les engagements irr\u00e9vocables d\u2019achats d\u2019actifs ainsi que ceux relatifs \u00e0 des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32747\" style=\"width:197.59pt\"> contrats de location sign\u00e9s mais n'ayant pas encore</span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> </span></div><div class=\"ps32751 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:145.94pt\">d\u00e9marr\u00e9 sont en baisse par rapport au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32749\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32750\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps32753 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.5.1<span id=\"i1c310de5c01849488bf363bd9b477c1a\"></span></span><span class=\"f charStyle-b11f9a65 ps32752\"> Contrats de location</span></div><div class=\"ps32754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.26pt\"><span style=\"background-color:inherit\">Les engagements futurs minimums relatifs aux contrats de location en cours exclus du champ d'application d'IFRS 16 et aux</span></span><span class=\"f charStyle-68ecf294 ps689\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps32757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:213.47pt\"><span style=\"background-color:inherit\">contrats de location sign\u00e9s mais n\u2019ayant pas d\u00e9marr\u00e9 au </span></span><span class=\"f charStyle-68ecf294 ps32755\" style=\"width:67.46pt\"><span style=\"background-color:inherit\">31\u00a0d\u00e9cembre 2025</span></span><span class=\"f charStyle-68ecf294 ps32756\" style=\"width:68.65pt\"><span style=\"background-color:inherit\">, sont les suivants\u00a0:</span></span></div><div class=\"ps32759 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">\u00c0 moins d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.69pt\"></span></span><span class=\"ps28266\">34<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.37pt\"></span></span><span class=\"ps1908\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">De un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18382 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.84pt\"></span></span><span class=\"ps30065\">58<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.3pt\"></span></span><span class=\"ps28371\">88<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">\u00c0 plus de cinq ans</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10359 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.38pt\"></span></span><span class=\"ps3134\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10368 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.94pt\"></span></span><span class=\"ps32758\">116<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.28pt\"></span></span><span class=\"ps1397\">131<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.5.2<span class=\"f ps53\"> </span><span id=\"ie6b7c508568f43c997f935e6af4f0569\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps19667\"><span style=\"display:inline-block;height:8.71pt;width:13.08pt\"></span></span><span class=\"ps29285\">Autres engagements donn\u00e9s</span></span></div><div class=\"ps19134 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:12.83pt\">Au </span><span class=\"f charStyle-165dec60 ps32761\" style=\"width:68.8pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-5064d44f ps32762\" style=\"width:249.31pt\">, Valeo porte des engagements irr\u00e9vocables d\u2019achats d\u2019actifs pour <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps32763\" style=\"width:13.54pt\">456</span><span class=\"f charStyle-5064d44f ps32764\" style=\"width:91.87pt\"> millions d\u2019euros, contre </span><span class=\"f charStyle-5064d44f ps32765\" style=\"width:13.47pt\">666<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps32766\" style=\"width:31.42pt\"> millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps8438\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32770 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:29pt\">d\u2019euros </span><span class=\"f charStyle-165dec60 ps32767\" style=\"width:11.42pt\">au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16129\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps32768\" style=\"width:316.24pt\">, ainsi que 3 millions d\u2019euros d\u2019autres engagements li\u00e9s aux activit\u00e9s op\u00e9rationnelles.</span><span class=\"f charStyle-165dec60 ps32769\" style=\"width:1.96pt\"> </span></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:46.28pt\">, comme au </span><span class=\"f charStyle-165dec60 ps32771\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps32772\" style=\"width:212.38pt\">, aucun actif du Groupe ne fait l'objet d'un nantissement.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-448": {
   "value": "<div class=\"ps29828 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">3.3<span id=\"ia6211bf71734423093dc5a2af7ded8bc\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps8947\"><span style=\"display:inline-block;height:10.16pt;width:27.35pt\"></span></span></span><span class=\"f charStyle-25177d68 ps29267\">Engagements hors bilan li\u00e9s <span class=\"f ps53\"> </span></span></div><div class=\"ps29829 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">au\u00a0p\u00e9rim\u00e8tre de consolidation<span class=\"f ps53\"> </span></span></div><div class=\"ps29831 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps448\">3.3.1<span class=\"f ps53\"> </span><span id=\"i3e484f1c0f6f4db69c724368603a599d\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29830\"><span style=\"display:inline-block;height:8.71pt;width:15.16pt\"></span></span><span class=\"ps17462\">Engagements donn\u00e9s</span></span></div><div class=\"ps29832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">Valeo et V. Johnson Enterprises ont form\u00e9 la soci\u00e9t\u00e9 Detroit<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:30.02pt\">Thermal</span><span class=\"f charStyle-165dec60 ps29833\" style=\"width:89.52pt\"> Systems en 2012. Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29834\" style=\"width:71.64pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29835\" style=\"width:38.15pt\">, Valeo et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29837 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">V.\u00a0Johnson Enterprises en sont actionnaires respectivement</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29838 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:95.92pt\">\u00e0 hauteur de 49\u00a0% et 51\u00a0%.</span></div><div class=\"ps14968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">V. Johnson Enterprises dispose d\u2019une option de vente dont</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14969 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l'exercice est conditionn\u00e9 \u00e0 la survenance d'\u00e9v\u00e9nements</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps14970 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">pr\u00e9cis\u00e9s contractuellement et qui ne sont pas li\u00e9s \u00e0 un</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps8023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">niveau de r\u00e9sultat. Cette option serait notamment exer\u00e7able<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">si Valeo ne pouvait contribuer au financement de la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps8026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">ou encore en cas de cession de tout ou partie de sa</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">participation \u00e0 un tiers. En cas d'exercice de l\u2019option, la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">totalit\u00e9 des titres d\u00e9tenus par V. Johnson Enterprises serait</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps14976 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">vendue \u00e0 Valeo et le prix serait d\u00e9termin\u00e9 selon les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps14977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">dispositions pr\u00e9vues dans l\u2019accord r\u00e9gissant la gouvernance</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps14978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:48.24pt\">de la soci\u00e9t\u00e9.</span></div><div class=\"ps29839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">Par ailleurs, dans le cadre des op\u00e9rations de cession r\u00e9alis\u00e9es en</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps14980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:16.98pt\">2025</span><span class=\"f charStyle-81f42323 ps29840\" style=\"width:212.3pt\"> et lors des exercices pr\u00e9c\u00e9dents, Valeo a accord\u00e9 diverses</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps14982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">garanties de passif usuelles pour ce type d\u2019op\u00e9rations. Au</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps17896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:64.88pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps29841\" style=\"width:164.42pt\">, le montant total de ces garanties s\u2019\u00e9l\u00e8ve \u00e0 92</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps17897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.25pt\">millions d'euros, dont 76 millions d'euros dans le cadre des</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps17898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.29pt\">cessions des activit\u00e9s Syst\u00e8mes thermiques v\u00e9hicules</span><span class=\"f charStyle-81f42323 ps467\" style=\"width:1.78pt\"> </span></div><div class=\"ps17899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">commerciaux en 2024 et capteurs automobiles pour syst\u00e8mes</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps17903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:93.01pt\">de propulsion en 2025 (cf. </span><span class=\"f charStyle-81f42323 ps29842\" style=\"width:36.8pt\">Note 3.2.1.1</span><span class=\"f charStyle-81f42323 ps29843\" style=\"width:38.18pt\">, page 392)</span></div><div class=\"ps29845 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps448\">3.3.2<span id=\"i6506c0d646e841bc92ba8040fad8d7ed\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps29844\"><span style=\"display:inline-block;height:8.71pt;width:13.37pt\"></span></span><span class=\"ps17462\">Engagements re\u00e7us</span></span></div><div class=\"ps9239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:12.62pt\">Au </span><span class=\"f charStyle-81f42323 ps29846\" style=\"width:66.16pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps19035\" style=\"width:46.67pt\">, comme au </span><span class=\"f charStyle-81f42323 ps29847\" style=\"width:66.87pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-81f42323 ps29848\" style=\"width:37pt\">, Valeo n'a</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps6830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:207.15pt\">pas d'engagement re\u00e7u li\u00e9 au p\u00e9rim\u00e8tre de consolidation.<span class=\"f ps53\"> </span></span></div><div class=\"ps32746 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.5<span id=\"ie856e32260d24eee84af04f03e1a60e9\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps32745\"><span style=\"display:inline-block;height:10.16pt;width:27.02pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Engagements hors bilan li\u00e9s aux locations et aux investissements<span class=\"f ps53\"> </span></span></div><div class=\"ps32748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:283.65pt\">Les engagements irr\u00e9vocables d\u2019achats d\u2019actifs ainsi que ceux relatifs \u00e0 des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32747\" style=\"width:197.59pt\"> contrats de location sign\u00e9s mais n'ayant pas encore</span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> </span></div><div class=\"ps32751 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:145.94pt\">d\u00e9marr\u00e9 sont en baisse par rapport au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32749\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32750\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps32753 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.5.1<span id=\"i1c310de5c01849488bf363bd9b477c1a\"></span></span><span class=\"f charStyle-b11f9a65 ps32752\"> Contrats de location</span></div><div class=\"ps32754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.26pt\"><span style=\"background-color:inherit\">Les engagements futurs minimums relatifs aux contrats de location en cours exclus du champ d'application d'IFRS 16 et aux</span></span><span class=\"f charStyle-68ecf294 ps689\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps32757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:213.47pt\"><span style=\"background-color:inherit\">contrats de location sign\u00e9s mais n\u2019ayant pas d\u00e9marr\u00e9 au </span></span><span class=\"f charStyle-68ecf294 ps32755\" style=\"width:67.46pt\"><span style=\"background-color:inherit\">31\u00a0d\u00e9cembre 2025</span></span><span class=\"f charStyle-68ecf294 ps32756\" style=\"width:68.65pt\"><span style=\"background-color:inherit\">, sont les suivants\u00a0:</span></span></div><div class=\"ps32759 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">\u00c0 moins d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.69pt\"></span></span><span class=\"ps28266\">34<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.37pt\"></span></span><span class=\"ps1908\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">De un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18382 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.84pt\"></span></span><span class=\"ps30065\">58<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.3pt\"></span></span><span class=\"ps28371\">88<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">\u00c0 plus de cinq ans</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10359 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.38pt\"></span></span><span class=\"ps3134\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10368 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.94pt\"></span></span><span class=\"ps32758\">116<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.28pt\"></span></span><span class=\"ps1397\">131<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32760 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.5.2<span class=\"f ps53\"> </span><span id=\"ie6b7c508568f43c997f935e6af4f0569\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps19667\"><span style=\"display:inline-block;height:8.71pt;width:13.08pt\"></span></span><span class=\"ps29285\">Autres engagements donn\u00e9s</span></span></div><div class=\"ps19134 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:12.83pt\">Au </span><span class=\"f charStyle-165dec60 ps32761\" style=\"width:68.8pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-5064d44f ps32762\" style=\"width:249.31pt\">, Valeo porte des engagements irr\u00e9vocables d\u2019achats d\u2019actifs pour <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps32763\" style=\"width:13.54pt\">456</span><span class=\"f charStyle-5064d44f ps32764\" style=\"width:91.87pt\"> millions d\u2019euros, contre </span><span class=\"f charStyle-5064d44f ps32765\" style=\"width:13.47pt\">666<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps32766\" style=\"width:31.42pt\"> millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps8438\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32770 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:29pt\">d\u2019euros </span><span class=\"f charStyle-165dec60 ps32767\" style=\"width:11.42pt\">au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16129\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps32768\" style=\"width:316.24pt\">, ainsi que 3 millions d\u2019euros d\u2019autres engagements li\u00e9s aux activit\u00e9s op\u00e9rationnelles.</span><span class=\"f charStyle-165dec60 ps32769\" style=\"width:1.96pt\"> </span></div><div class=\"ps32774 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:46.28pt\">, comme au </span><span class=\"f charStyle-165dec60 ps32771\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps32772\" style=\"width:212.38pt\">, aucun actif du Groupe ne fait l'objet d'un nantissement.</span><span class=\"f charStyle-165dec60 ps32773\" style=\"width:1.96pt\"> </span></div><div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i174e427032bf4e868bee1fd74f22ce16\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">8<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps32775\"><span style=\"display:inline-block;height:13.55pt;width:35.78pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Autres</span><span class=\"f charStyle-26f8f9e5 ps32776\"> provisions et passifs \u00e9ventuels<span class=\"f ps53\"> </span></span></div><div class=\"ps32949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">8.2<span id=\"i8399119700de476a83c4f9ba306ecc63\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30294\"><span style=\"display:inline-block;height:10.16pt;width:26.65pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Passifs \u00e9ventuels<span class=\"f ps53\"> </span></span></div><div class=\"ps2117 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:292.22pt\">Par opposition \u00e0 la d\u00e9finition ci-dessus d'une provision, un passif \u00e9ventuel est\u00a0:</span></div><div class=\"ps625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.28pt\">une obligation potentielle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 dont l\u2019existence ne sera confirm\u00e9e que par la survenance<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32951\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:293.12pt\">ou\u00a0non d\u2019un \u00e9v\u00e9nement incertain qui n\u2019est pas sous le contr\u00f4le du Groupe\u00a0; ou</span></div><div class=\"ps628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.31pt\">une obligation actuelle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 pour lequel soit le montant de l\u2019obligation ne peut \u00eatre estim\u00e9</span><span class=\"f charStyle-165dec60 ps14071\" style=\"width:1.96pt\"> </span></div><div class=\"ps629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.2pt\">de\u00a0mani\u00e8re fiable ou soit il n\u2019est pas probable qu\u2019une sortie de ressources repr\u00e9sentatives d\u2019avantages \u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32952\" style=\"width:1.96pt\"> </span></div><div class=\"ps638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:156.05pt\">sera\u00a0n\u00e9cessaire pour \u00e9teindre l\u2019obligation.</span></div><div class=\"ps18094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Le Groupe a des passifs \u00e9ventuels se rapportant \u00e0 des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps18095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.02pt\">actions <span class=\"f ps53\"> </span></span><span class=\"f charStyle-79bb7869 ps32953\" style=\"width:198.27pt\">en justice, des proc\u00e9dures r\u00e9glementaires et fiscales</span><span class=\"f charStyle-79bb7869 ps425\" style=\"width:1.79pt\"> </span></div><div class=\"ps26718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:78.53pt\">ainsi que divers litiges</span><span class=\"f charStyle-165dec60 ps32954\" style=\"width:150.71pt\"> survenant dans le cadre habituel de ses</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps32955 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">activit\u00e9s. Chacun des litiges connus ou proc\u00e9dures en cours,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps32957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.78pt\">dans lesquels Valeo ou </span><span class=\"f charStyle-49b0b1fa ps32956\" style=\"width:122.51pt\">des soci\u00e9t\u00e9s du\u00a0Groupe sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps425\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:140.08pt\">impliqu\u00e9s, a fait l\u2019objet d\u2019un examen</span><span class=\"f charStyle-165dec60 ps32958\" style=\"width:89.23pt\"> \u00e0 la date d\u2019arr\u00eat\u00e9 des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">comptes. Les\u00a0provisions jug\u00e9es n\u00e9cessaires pouvant \u00eatre</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">estim\u00e9es de mani\u00e8re fiable ont, le cas \u00e9ch\u00e9ant, \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:165.3pt\">constitu\u00e9es pour couvrir les risques estim\u00e9s.</span></div><div class=\"ps18094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:187.89pt\">Des campagnes de rappel ont \u00e9t\u00e9 lanc\u00e9es au 2</span><span class=\"f charStyle-47cc131c ps32962\" style=\"width:2.94pt\"><sup>e</sup></span><span class=\"f charStyle-165dec60 ps32963\" style=\"width:38.43pt\"> semestre</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps18095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:56.12pt\">2025 et au 1</span><span class=\"f charStyle-47cc131c ps32964\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps32965\" style=\"width:168.3pt\"> trimestre 2026 sans l\u2019accord de Valeo,</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">notamment pour le remplacement de produits livr\u00e9s par le</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps32955 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe entre 2017 et 2022. A l\u2019aune des \u00e9l\u00e9ments disponibles</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps32957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">\u00e0 la date d\u2019arr\u00eat\u00e9 des comptes, le Groupe consid\u00e8re que le</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps32959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">probl\u00e8me \u00e0 l\u2019origine de ces rappels ne rel\u00e8ve pas de sa</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">responsabilit\u00e9. Par cons\u00e9quent, aucune provision n\u2019a \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.98pt\">constitu\u00e9e au 31 d\u00e9cembre </span><span class=\"f charStyle-9c680f66 ps32966\" style=\"width:17.58pt\">2025</span><span class=\"f charStyle-165dec60 ps32967\" style=\"width:1.59pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-450": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i79559fe7e90042c799c612a0d27fc8cd\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps29849\"><span style=\"display:inline-block;height:13.55pt;width:35.35pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Information </span><span class=\"f charStyle-26f8f9e5 ps29850\">sectorielle</span></div><div class=\"ps29239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.64pt\">Conform\u00e9ment aux dispositions de la norme IFRS 8 \u00ab\u00a0Secteurs op\u00e9rationnels\u00a0\u00bb, l\u2019information sectorielle pr\u00e9sent\u00e9e ci-apr\u00e8s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.56pt\">est fond\u00e9e sur le reporting interne utilis\u00e9 par la Direction G\u00e9n\u00e9rale pour \u00e9valuer les performances et allouer les ressources</span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> </span></div><div class=\"ps29854 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:446.66pt\">aux diff\u00e9rents secteurs. La Direction G\u00e9n\u00e9rale repr\u00e9sente le principal d\u00e9cideur op\u00e9rationnel au sens de la norme IFRS 8.<span class=\"f ps53\"> </span></span></div><div class=\"ps12277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:4.23pt\">L</span><span class=\"f charStyle-81f42323 ps28135\" style=\"width:225.07pt\">a Direction G\u00e9n\u00e9rale repr\u00e9sente le principal d\u00e9cideur</span><span class=\"f charStyle-81f42323 ps608\" style=\"width:1.78pt\"> </span></div><div class=\"ps12278 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.28pt\">op\u00e9rationnel au sens de la norme IFRS 8 \u00ab Secteurs</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.32pt\">op\u00e9rationnels \u00bb. Conform\u00e9ment aux dispositions d'IFRS 8,</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps29265 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.31pt\">l\u2019information sectorielle pr\u00e9sent\u00e9e ci-apr\u00e8s est fond\u00e9e sur le</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps29855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.3pt\">reporting interne utilis\u00e9 par la Direction G\u00e9n\u00e9rale pour \u00e9valuer</span><span class=\"f charStyle-81f42323 ps608\" style=\"width:1.78pt\"> </span></div><div class=\"ps29856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.33pt\">les performances et allouer les ressources aux diff\u00e9rents</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps29858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:31.65pt\">secteurs.</span><span class=\"f charStyle-81f42323 ps29857\" style=\"width:1.78pt\"> </span></div><div class=\"ps12179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:4.23pt\">L</span><span class=\"f charStyle-81f42323 ps28135\" style=\"width:214.94pt\">es secteurs op\u00e9rationnels correspondent aux trois Divisions :</span></div><div class=\"ps11989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:71.64pt\">Division POWER - </span><span class=\"f charStyle-165dec60 ps29859\" style=\"width:150.57pt\">Cette Division con\u00e7oit des syst\u00e8mes de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps11991 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">gestion thermique et de propulsion innovants adapt\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">tous types de v\u00e9hicules int\u00e9grant des moteurs \u00e9lectriques</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps12183 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">performants, des \u00e9lectroniques de puissance avanc\u00e9es et</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12184 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">des syst\u00e8mes de gestion thermique efficaces contribuant</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12185 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:209.45pt\">par cette approche \u00e0 la r\u00e9duction des \u00e9missions de CO</span><span class=\"f charStyle-63816fc8 ps29860\" style=\"width:2.76pt\">2</span><span class=\"f charStyle-165dec60 ps29861\" style=\"width:10.03pt\"> et</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">de polluants. Elle d\u00e9veloppe des syst\u00e8mes de gestion</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps29862 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">thermique et de propulsion \u00e9lectrique optimis\u00e9s pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">am\u00e9liorer l\u2019autonomie du v\u00e9hicule, la dur\u00e9e de vie et la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:176.19pt\">s\u00e9curit\u00e9 des batteries, le confort des passagers.</span><span class=\"f charStyle-165dec60 ps29864\" style=\"width:1.96pt\"> </span></div><div class=\"ps12368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-813fac5f ps275\" style=\"width:2.62pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">Division BRAIN - Cette Division est \u00e0 l\u2019avant-garde de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">l\u2019automatisation du v\u00e9hicule et de la r\u00e9invention de la vie \u00e0</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">bord en tirant pleinement parti des opportunit\u00e9s offertes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">par les nouvelles architectures \u00e9lectriques/\u00e9lectroniques.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:188.09pt\">Elle s\u2019inscrit\u00a0 au\u00a0 c\u0153ur\u00a0 de\u00a0 la\u00a0 r\u00e9volution\u00a0 du </span><span class=\"f charStyle-e8054d08 ps3173\" style=\"width:34.09pt\">Software</span><span class=\"f charStyle-e8054d08 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps29868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps626\" style=\"width:59.51pt\">Defined Vehicle</span><span class=\"f charStyle-165dec60 ps29867\" style=\"width:24.5pt\"> (SDV).</span></div><div class=\"ps29869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">Division LIGHT - Cette Division con\u00e7oit et produit des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">syst\u00e8mes innovants, performants et intelligents d\u00e9di\u00e9s \u00e0</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.23pt\">l\u2019\u00e9clairage et la signalisation, ext\u00e9rieurs et int\u00e9rieurs ainsi</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">que des solutions d\u2019essuyage des vitrages et de nettoyage</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29873 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">des capteurs. En toutes circonstances de conduite, ces</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps5359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">syst\u00e8mes aident le conducteur et am\u00e9liorent sa s\u00e9curit\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:169.14pt\">ainsi que celle des autres usagers de la route.</span></div><div class=\"ps12277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">Chacune de ces Divisions a \u00e9galement la responsabilit\u00e9 de la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps12278 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">production et d\u2019une partie de la distribution des produits</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps12279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">dans le domaine de la rechange. Une part significative des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29265 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">r\u00e9sultats de Valeo Service, qui vend principalement des</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps29855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">produits fabriqu\u00e9s par le Groupe, est int\u00e9gr\u00e9e dans chacune</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">des Divisions. La partie n\u00e9goce externe de Valeo Service ainsi<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">que les holdings et les \u00e9liminations entre les trois secteurs</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29874 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:207.43pt\">op\u00e9rationnels sont class\u00e9es dans la rubrique\u00a0 \u00ab\u00a0Autres\u00a0\u00bb.</span></div><div class=\"ps29876 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">4.1<span id=\"i1248a81ad6934dcfb5281ea380e8d0db\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29875\"><span style=\"display:inline-block;height:10.16pt;width:28.43pt\"></span></span></span><span class=\"f charStyle-25177d68 ps29267\">Indicateurs cl\u00e9s par Division<span class=\"f ps53\"> </span></span></div><div class=\"ps29279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">En lien avec la position exprim\u00e9e par l\u2019IFRIC en juillet 2024, le</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps29877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">Groupe a revu les indicateurs pr\u00e9sent\u00e9s pour chacun de ses</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps15295 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:87.05pt\">secteurs op\u00e9rationnels.</span><span class=\"f charStyle-165dec60 ps29878\" style=\"width:1.96pt\"> </span></div><div class=\"ps29283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">Les indicateurs cl\u00e9s par Division pr\u00e9sent\u00e9s dans les tableaux</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps29879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:96.54pt\">ci\u2011apr\u00e8s sont les suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps8234 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:71.71pt\">le chiffre d\u2019affaires\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps18036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:104.53pt\">la consommation mati\u00e8res ;</span></div><div class=\"ps29880 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:169.82pt\">les frais de Recherche et de D\u00e9veloppement\u00a0;</span></div><div class=\"ps976 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:93.63pt\">la marge op\u00e9rationnelle ;</span></div><div class=\"ps29881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.23pt\">les dotations aux amortissements sur immobilisations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">incorporelles et corporelles et\u00a0pertes\u00a0de\u00a0valeur, nettes des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:88.96pt\">subventions publiques ;</span></div><div class=\"ps983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">les dividendes vers\u00e9s par les soci\u00e9t\u00e9s mises en</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:49.05pt\">\u00e9quivalence ;</span></div><div class=\"ps896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:60.63pt\">l\u2019EBITDA ajust\u00e9\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7955 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:166.52pt\">les investissements corporels et incorporels\u00a0;</span></div><div class=\"ps11309 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">les actifs sectoriels qui sont constitu\u00e9s des immobilisations</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps11310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:168.69pt\">incorporelles et corporelles (y compris les </span><span class=\"f charStyle-e8054d08 ps29883\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps29884\" style=\"width:21.29pt\">), des</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps11312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">participations dans les soci\u00e9t\u00e9s mises en \u00e9quivalence et</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps7959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:40.6pt\">des stocks.</span></div><div class=\"ps29885 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i4be7f78de8684954b2ef22bbe2956092\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps29978 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:42.75pt\"></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:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1923\"><div><div class=\"ps10243 ss1922\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29887 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-ae6044e9 ps29886\">POWER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29889 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps29888\">BRAIN<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24068 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps358\">LIGHT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16417 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps29890\">Autres <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29891 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps9424\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-ae6044e9 ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29892 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-ae6044e9 ps4592\">10\u00a0512<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16601 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps29893\">4\u00a0957<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29894 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps16827\">5\u00a0405<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16419 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps29895\">29<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29897 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps29896\">20\u00a0903<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">du secteur (hors Groupe)</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29899 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.51pt\"></span></span><span class=\"ps29898\">10\u00a0389<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29901 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.3pt\"></span></span><span class=\"ps29900\">4\u00a0931<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29903 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.93pt\"></span></span><span class=\"ps29902\">5\u00a0398<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16424 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.97pt\"></span></span><span class=\"ps29904\">185<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29905 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.78pt\"></span></span><span class=\"ps17294\">20\u00a0903<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">ventes intersecteurs (Groupe)</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29906 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.52pt\"></span></span><span class=\"ps17678\">123<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16612 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29909 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.28pt\"></span></span><span class=\"ps29908\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16428 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.73pt\"></span></span><span class=\"ps29910\">(156)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29912 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.19pt\"></span></span><span class=\"ps29911\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Consommation mati\u00e8res</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29914 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.49pt\"></span></span><span class=\"ps29913\">(6\u00a0109)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16622 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.97pt\"></span></span><span class=\"ps29915\">(2\u00a0562)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29917 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.59pt\"></span></span><span class=\"ps29916\">(2\u00a0857)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16432 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.44pt\"></span></span><span class=\"ps29918\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29919 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.82pt\"></span></span><span class=\"ps25470\">(11\u00a0526)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Frais de Recherche et D\u00e9veloppement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29921 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.36pt\"></span></span><span class=\"ps29920\">(753)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29922 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.13pt\"></span></span><span class=\"ps28686\">(1\u00a0081)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29924 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.81pt\"></span></span><span class=\"ps29923\">(432)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16437 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.82pt\"></span></span><span class=\"ps29925\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29926 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.14pt\"></span></span><span class=\"ps23393\">(2\u00a0273)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-c942a721 ps10\">Marge op\u00e9rationnelle</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29928 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.43pt\"></span></span><span class=\"ps29927\">441<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29930 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.85pt\"></span></span><span class=\"ps29929\">267<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29932 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.53pt\"></span></span><span class=\"ps29931\">270<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29933 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.08pt\"></span></span><span class=\"ps3618\">(1)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29935 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.62pt\"></span></span><span class=\"ps29934\">977<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1924\"><div><div class=\"ps15656 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Dotations aux amortissements sur immobilisations </span></div><div class=\"ps13845 ss1922\"><span class=\"f charStyle-044fe383 ps10\">corporelles et incorporelles et pertes de valeur, nettes </span></div><div class=\"ps15657 ss1922\"><span class=\"f charStyle-044fe383 ps10\">des subventions publiques </span><span class=\"f charStyle-4da12822 ps29936\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29938 ss1031\"><div><div class=\"ps527 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.99pt\"></span></span><span class=\"ps29937\">831<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29940 ss1557\"><div><div class=\"ps527 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.02pt\"></span></span><span class=\"ps29939\">719<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29942 ss1557\"><div><div class=\"ps527 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.22pt\"></span></span><span class=\"ps29941\">490<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29943 ss1557\"><div><div class=\"ps527 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.89pt\"></span></span><span class=\"ps23539\">56<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29945 ss1557\"><div><div class=\"ps527 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.4pt\"></span></span><span class=\"ps29944\">2\u00a0096<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss1925\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les soci\u00e9t\u00e9s mises en </span></div><div class=\"ps748 ss1922\"><span class=\"f charStyle-044fe383 ps10\">\u00e9quivalence</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29946 ss274\"><div><div class=\"ps516 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.13pt\"></span></span><span class=\"ps28686\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29947 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.19pt\"></span></span><span class=\"ps29911\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29948 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.19pt\"></span></span><span class=\"ps29911\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29949 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.19pt\"></span></span><span class=\"ps29911\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29951 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.13pt\"></span></span><span class=\"ps29950\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps792 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-c942a721 ps10\">EBITDA ajust\u00e9</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29953 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.32pt\"></span></span><span class=\"ps29952\">1\u00a0281<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29955 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.2pt\"></span></span><span class=\"ps29954\">986<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><span id=\"if890a9d3fa454d4d9518065f9ed71d39_4-3-1-1-925878\"></span><div class=\"ps29957 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.18pt\"></span></span><span class=\"ps29956\">760<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29959 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.77pt\"></span></span><span class=\"ps29958\">55<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29960 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.67pt\"></span></span><span class=\"ps28963\">3\u00a0082<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps793 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Investissements corporels et\u00a0incorporels de l'exercice</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29961 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.64pt\"></span></span><span class=\"ps9803\">625<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29963 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">945<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29965 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.71pt\"></span></span><span class=\"ps29964\">428<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29966 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">36<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29968 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.35pt\"></span></span><span class=\"ps29967\">2\u00a0034<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps803 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Actifs sectoriels </span><span class=\"f charStyle-4da12822 ps29969\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29970 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.23pt\"></span></span><span class=\"ps16426\">5\u00a0881<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29972 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.47pt\"></span></span><span class=\"ps29971\">3\u00a0819<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29974 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.5pt\"></span></span><span class=\"ps29973\">2\u00a0805<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29976 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.56pt\"></span></span><span class=\"ps29975\">304<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29977 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.34pt\"></span></span><span class=\"ps27200\">12\u00a0810<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps29980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:235.72pt\">Uniquement pertes de valeurs comprises dans la marge op\u00e9rationnelle.</span><span class=\"f charStyle-776a1ec6 ps29979\" style=\"width:1.7pt\"> </span></div><div class=\"ps29981 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.03pt\">Les actifs sectoriels de la Division LIGHT n'int\u00e8grent pas le montant des actifs des activit\u00e9s d'\u00e9clairage en Inde reclass\u00e9s en actifs destin\u00e9s \u00e0</span><span class=\"f charStyle-776a1ec6 ps1231\" style=\"width:1.7pt\"> </span></div><div class=\"ps29985 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:106.14pt\">\u00eatre c\u00e9d\u00e9s au 31\u00a0d\u00e9cembre 2025 </span><span class=\"f charStyle-776a1ec6 ps29982\" style=\"width:28.65pt\">(cf.\u00a0Note </span><span class=\"f charStyle-776a1ec6 ps29983\" style=\"width:13.78pt\">3.2.2</span><span class=\"f charStyle-776a1ec6 ps29984\" style=\"width:36.74pt\">, page 392).</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"iaf13a9ab0f7e45978d967c16f6d6c02e\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps3228 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:42.75pt\"></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:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1923\"><div><div class=\"ps10243 ss1922\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29887 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-ae6044e9 ps29886\">POWER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29889 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps29888\">BRAIN<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24068 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps358\">LIGHT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16417 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps29890\">Autres <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29891 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps9424\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-ae6044e9 ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29892 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-ae6044e9 ps10060\">10\u00a0845<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16601 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps11197\">5\u00a0053<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29894 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps347\">5\u00a0554<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16419 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps29986\">40<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29897 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps25192\">21\u00a0492<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">du secteur (hors Groupe)</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29899 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.45pt\"></span></span><span class=\"ps29168\">10\u00a0702<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29901 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.58pt\"></span></span><span class=\"ps29987\">5\u00a0021<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29903 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.74pt\"></span></span><span class=\"ps20751\">5\u00a0546<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16424 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.97pt\"></span></span><span class=\"ps29988\">223<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29905 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.02pt\"></span></span><span class=\"ps27316\">21\u00a0492<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">ventes intersecteurs (Groupe)</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29906 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.82pt\"></span></span><span class=\"ps17908\">143<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16612 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.22pt\"></span></span><span class=\"ps13187\">32<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29909 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.91pt\"></span></span><span class=\"ps28679\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16428 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.53pt\"></span></span><span class=\"ps29931\">(183)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29912 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.19pt\"></span></span><span class=\"ps29911\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Consommation mati\u00e8res</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29914 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.09pt\"></span></span><span class=\"ps22372\">(6\u00a0207)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16622 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.3pt\"></span></span><span class=\"ps599\">(2\u00a0851)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29917 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.94pt\"></span></span><span class=\"ps4278\">(2\u00a0990)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16432 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.13pt\"></span></span><span class=\"ps29950\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29919 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.36pt\"></span></span><span class=\"ps29989\">(12\u00a0038)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Frais de Recherche et D\u00e9veloppement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29921 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.19pt\"></span></span><span class=\"ps29990\">(861)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29922 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.48pt\"></span></span><span class=\"ps28729\">(867)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29924 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.67pt\"></span></span><span class=\"ps29991\">(386)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16437 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.31pt\"></span></span><span class=\"ps29992\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29926 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">(2\u00a0127)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-c942a721 ps10\">Marge op\u00e9rationnelle</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29928 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.54pt\"></span></span><span class=\"ps29993\">319<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29930 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.34pt\"></span></span><span class=\"ps29994\">294<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29932 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.51pt\"></span></span><span class=\"ps29995\">307<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29933 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.08pt\"></span></span><span class=\"ps3618\">(1)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29935 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.21pt\"></span></span><span class=\"ps10394\">919<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1924\"><div><div class=\"ps15656 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Dotations aux amortissements sur immobilisations </span></div><div class=\"ps13845 ss1922\"><span class=\"f charStyle-044fe383 ps10\">corporelles et incorporelles et pertes de valeur, nettes <span class=\"f ps53\"> </span></span></div><div class=\"ps15657 ss1922\"><span class=\"f charStyle-044fe383 ps10\">des subventions publiques <span class=\"f ps53\"> </span></span><span class=\"f charStyle-4da12822 ps29936\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29938 ss1031\"><div><div class=\"ps527 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.63pt\"></span></span><span class=\"ps29996\">922<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29940 ss1557\"><div><div class=\"ps527 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.82pt\"></span></span><span class=\"ps29997\">537<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29942 ss1557\"><div><div class=\"ps527 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.25pt\"></span></span><span class=\"ps29998\">425<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29943 ss1557\"><div><div class=\"ps527 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.5pt\"></span></span><span class=\"ps29999\">45<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29945 ss1557\"><div><div class=\"ps527 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.66pt\"></span></span><span class=\"ps30000\">1\u00a0929<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss1925\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les soci\u00e9t\u00e9s mises en </span></div><div class=\"ps748 ss1922\"><span class=\"f charStyle-044fe383 ps10\">\u00e9quivalence<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29946 ss274\"><div><div class=\"ps516 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.75pt\"></span></span><span class=\"ps30001\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29947 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.19pt\"></span></span><span class=\"ps29911\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29948 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.19pt\"></span></span><span class=\"ps29911\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29949 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.19pt\"></span></span><span class=\"ps29911\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29951 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps792 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-c942a721 ps10\">EBITDA ajust\u00e9</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29953 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.98pt\"></span></span><span class=\"ps22370\">1\u00a0256<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29955 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.36pt\"></span></span><span class=\"ps30003\">831<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29957 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.18pt\"></span></span><span class=\"ps30004\">732<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29959 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.37pt\"></span></span><span class=\"ps25785\">44<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29960 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.99pt\"></span></span><span class=\"ps30005\">2\u00a0863<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps793 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Investissements corporels et\u00a0incorporels de l'exercice</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29961 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.73pt\"></span></span><span class=\"ps30006\">803<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29963 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.64pt\"></span></span><span class=\"ps30007\">925<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29965 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.45pt\"></span></span><span class=\"ps30008\">538<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29966 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.33pt\"></span></span><span class=\"ps10884\">74<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29968 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.35pt\"></span></span><span class=\"ps29967\">2\u00a0340<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps803 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Actifs sectoriels </span><span class=\"f charStyle-4da12822 ps29969\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29970 ss1325\"><div><div class=\"ps509 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.13pt\"></span></span><span class=\"ps30009\">6\u00a0559<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29972 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.92pt\"></span></span><span class=\"ps30010\">3\u00a0829<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29974 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.34pt\"></span></span><span class=\"ps30011\">3\u00a0020<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29976 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.21pt\"></span></span><span class=\"ps30012\">319<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29977 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.74pt\"></span></span><span class=\"ps4237\">13\u00a0727<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30013 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:235.72pt\">Uniquement pertes de valeurs comprises dans la marge op\u00e9rationnelle.</span><span class=\"f charStyle-776a1ec6 ps29979\" style=\"width:1.7pt\"> </span></div><div class=\"ps30014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.12pt\">Les actifs sectoriels de la Division POWER n'int\u00e8grent pas le montant des actifs de l'activit\u00e9 de capteurs automobiles pour syst\u00e8mes de</span><span class=\"f charStyle-776a1ec6 ps458\" style=\"width:1.7pt\"> </span></div><div class=\"ps30017 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:268.13pt\">propulsion reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2024 (cf.\u00a0Note </span><span class=\"f charStyle-776a1ec6 ps30015\" style=\"width:13.78pt\">3.2.2</span><span class=\"f charStyle-776a1ec6 ps30016\" style=\"width:36.74pt\">, page 392).</span></div><div class=\"ps7942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">En 2025, les pertes de valeur sur frais de d\u00e9veloppement immobilis\u00e9s et sur actifs corporels immobilis\u00e9s comprises dans la</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps7944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:136.65pt\">marge op\u00e9rationnelle s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps30019\" style=\"width:13.96pt\">308</span><span class=\"f charStyle-165dec60 ps30020\" style=\"width:66.76pt\"> millions d\u2019euros</span><span class=\"f charStyle-165dec60 ps30021\" style=\"width:34.3pt\"> contre </span><span class=\"f charStyle-165dec60 ps30022\" style=\"width:12.61pt\">104</span><span class=\"f charStyle-165dec60 ps30023\" style=\"width:200.54pt\"> millions d\u2019euros en 2024. Ces pertes de valeur </span><span class=\"f charStyle-165dec60 ps30024\" style=\"width:16.47pt\">sont</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps7946 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:191.07pt\">principalement li\u00e9es \u00e0 des annulations de contrats.</span></div><div class=\"ps30029 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:240pt\"></td><td style=\"padding:0;width:240pt\"></td></tr><tr style=\"height:36.75pt\"><td style=\"padding:0\"><div class=\"ps1 ss1927\"><div><div class=\"ps30025 ss1926\"><span class=\"f charStyle-22e622cc ps10\">CHIFFRE D\u2019AFFAIRES PAR DIVISION <span class=\"f ps53\"> </span></span></div><div class=\"ps30026 ss1926\"><span class=\"f charStyle-22e622cc ps10\">(INCLUANT\u00a0LES VENTES INTERSECTEURS)<span class=\"f ps53\"> </span></span></div><div class=\"ps30027 ss1926\"><span class=\"f charStyle-a8abcdde ps10\">(en % du chiffre d\u2019affaires total et en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps10132 ss1927\"><div><div class=\"ps30025 ss1926\"><span class=\"f charStyle-22e622cc ps10\">MARGE OP\u00c9RATIONNELLE PAR DIVISION</span></div><div class=\"ps30028 ss1926\"><span class=\"f charStyle-a8abcdde ps10\">(% du chiffre d\u2019affaires total et en millions d\u2019euros)</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30033 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ps563\"><div class=\"ps1\"><img alt=\"1507\" id=\"i-789\" 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style=\"height:144.56pt;width:226.77pt\"/></div></div></div><div class=\"ps30033 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ps407\"><div class=\"ps1\"><img alt=\"1509\" id=\"i-790\" src=\"data:image/png;base64,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\" style=\"height:144.56pt;width:226.77pt\"/></div></div></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">4.2<span id=\"i293f6617166d4268bd62e0c63ed5aa96_891\"></span><span id=\"ia87f9ab93af948e8b9c66300ea86fe0b\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30061\"> <span style=\"display:inline-block;height:10.16pt;width:23.38pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9conciliation avec les donn\u00e9es du Groupe<span class=\"f ps53\"> </span></span></div><div class=\"ps9052 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:367.81pt\">Le total des actifs sectoriels se r\u00e9concilie de la mani\u00e8re suivante avec le total des actifs du Groupe\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps30073 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-ae6044e9 ps10\">Actifs sectoriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9 ps20776\">12\u00a0810<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9 ps30062\">13\u00a0727<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances clients<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18382 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.29pt\"></span></span><span class=\"ps27600\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.29pt\"></span></span><span class=\"ps27600\">2\u00a0656<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Autres cr\u00e9ances<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10359 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.5pt\"></span></span><span class=\"ps30063\">659<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.18pt\"></span></span><span class=\"ps30064\">699<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Actifs d'imp\u00f4t exigible<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10368 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.84pt\"></span></span><span class=\"ps30065\">58<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.35pt\"></span></span><span class=\"ps30066\">64<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Actifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10375 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.44pt\"></span></span><span class=\"ps25683\">2\u00a0957<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10376 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.78pt\"></span></span><span class=\"ps30067\">3\u00a0668<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Actifs d'imp\u00f4t diff\u00e9r\u00e9<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.88pt\"></span></span><span class=\"ps30068\">805<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10380 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.54pt\"></span></span><span class=\"ps30069\">740<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s </span><span class=\"f charStyle-4da12822 ps30070\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.37pt\"></span></span><span class=\"ps1908\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10385 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.25pt\"></span></span><span class=\"ps30071\">104<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps573 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL DES ACTIFS DU GROUPE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps28278 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.7pt\"></span></span><span class=\"ps28682\">20\u00a0270<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps28280 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.74pt\"></span></span><span class=\"ps30072\">21\u00a0658<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:72.4pt\">Au 31 d\u00e9cembre 2025, </span><span class=\"f charStyle-e1f5705a ps2576\" style=\"width:242.65pt\">les actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s correspondent essentiellement aux actifs </span><span class=\"f charStyle-776a1ec6 ps30074\" style=\"width:107.1pt\">des activit\u00e9s d'\u00e9clairage en Inde </span><span class=\"f charStyle-e1f5705a ps30075\" style=\"width:29.33pt\">(cf. Note </span><span class=\"f charStyle-e1f5705a ps30076\" style=\"width:14.08pt\">3.2.2</span><span class=\"f charStyle-e1f5705a ps30077\" style=\"width:1.43pt\">,</span><span class=\"f charStyle-e1f5705a ps1288\" style=\"width:1.76pt\"> </span></div><div class=\"ps30080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e1f5705a ps269\" style=\"width:38.51pt\">page 392). </span><span class=\"f charStyle-776a1ec6 ps30079\" style=\"width:39.15pt\">A fin 2024, </span><span class=\"f charStyle-e1f5705a ps29354\" style=\"width:389.33pt\">les actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s correspondaient essentiellement aux actifs de l'activit\u00e9 de capteurs automobiles</span><span class=\"f charStyle-e1f5705a ps1288\" style=\"width:1.76pt\"> </span></div><div class=\"ps30084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e1f5705a ps269\" style=\"width:390.76pt\">permettant les mesures de temp\u00e9rature, de pression et de position de tous types de syst\u00e8mes de propulsion (cf. Note </span><span class=\"f charStyle-e1f5705a ps30081\" style=\"width:14.08pt\">3.2.2</span><span class=\"f charStyle-e1f5705a ps30082\" style=\"width:37.46pt\">, page 392).</span><span class=\"f charStyle-e1f5705a ps30083\" style=\"width:1.76pt\"> </span></div><div class=\"ps30086 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">4.3<span id=\"id6aa95a9b2344d21a6ebb4857b34ae67_569\"></span><span id=\"id5fd96a373f542b29b3ceba879d39dea\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30085\"><span style=\"display:inline-block;height:10.16pt;width:26.33pt\"></span></span><span class=\"ps408\">Informations par zone g\u00e9ographique</span></span></div><div class=\"ps2814 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:422.42pt\">Les actifs non courants comprennent les immobilisations corporelles, les immobilisations incorporelles (hors <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps30087\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30088\" style=\"width:26.61pt\">) et les</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:233pt\">participations dans les entreprises mises en \u00e9quivalence. Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps30089\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30090\" style=\"width:216.02pt\"> ne peuvent \u00eatre ventil\u00e9s par zone g\u00e9ographique dans la</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps2818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:327.89pt\">mesure o\u00f9 ils sont allou\u00e9s aux Divisions qui op\u00e8rent sur plusieurs zones g\u00e9ographiques.</span></div><div class=\"ps26937 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span class=\"f ps53\"> </span><span id=\"i587a97f8a2be4c868a39a72a2b7e136e\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps30122 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1930\"><div><div class=\"ps16333 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps16452\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps30091\">Actifs non <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps30092\">courants</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Europe et Afrique</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30094 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.03pt\"></span></span><span class=\"ps30093\">11\u00a0094<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20333 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.2pt\"></span></span><span class=\"ps30095\">4\u00a0867<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps749 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-6bfccbf4 ps3086\">dont France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.51pt\"></span></span><span class=\"ps30096\">3\u00a0132<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.02pt\"></span></span><span class=\"ps30098\">1\u00a0181<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-6bfccbf4 ps3086\">dont Allemagne<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.24pt\"></span></span><span class=\"ps30099\">2\u00a0354<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.23pt\"></span></span><span class=\"ps28276\">1\u00a0458<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Am\u00e9riques</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.04pt\"></span></span><span class=\"ps28275\">4\u00a0102<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.14pt\"></span></span><span class=\"ps30102\">1\u00a0147<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-373e86b9 ps3086\">dont \u00c9tats-Unis / Mexique </span><span class=\"f charStyle-ee1faa92 ps30103\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.21pt\"></span></span><span class=\"ps30104\">3\u00a0904<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.84pt\"></span></span><span class=\"ps30106\">1\u00a0101<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.91pt\"></span></span><span class=\"ps30108\">6\u00a0418<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.62pt\"></span></span><span class=\"ps28136\">1\u00a0958<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-373e86b9 ps3086\">dont Chine</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30112 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.53pt\"></span></span><span class=\"ps30111\">3\u00a0442<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30114 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.72pt\"></span></span><span class=\"ps30113\">1\u00a0060<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">\u00c9liminations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30116 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.59pt\"></span></span><span class=\"ps30115\">(711)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.74pt\"></span></span><span class=\"ps30117\">(10)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps25253 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30119 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.55pt\"></span></span><span class=\"ps17235\">20\u00a0903<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.73pt\"></span></span><span class=\"ps30120\">7\u00a0962<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30123 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.11pt\">Les activit\u00e9s de Valeo au Mexique op\u00e8rent de mani\u00e8re quasi-exclusive en sous-traitance pour les \u00c9tats-Unis. La ventilation du chiffre d\u2019affaires</span><span class=\"f charStyle-776a1ec6 ps455\" style=\"width:1.7pt\"> </span></div><div class=\"ps30124 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:403.58pt\">et des actifs non courants de la zone g\u00e9ographique Am\u00e9riques entre les \u00c9tats-Unis et le Mexique n'est donc pas pertinente.</span></div><div class=\"ps30125 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i767864e649b44f3c9cf38fa400bc6f0f\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps30138 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1930\"><div><div class=\"ps16333 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps16452\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps30091\">Actifs non <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps30092\">courants</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Europe et Afrique</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30094 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.54pt\"></span></span><span class=\"ps30126\">11\u00a0083<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20333 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.21pt\"></span></span><span class=\"ps30104\">4\u00a0930<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps749 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-6bfccbf4 ps3086\">dont France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.92pt\"></span></span><span class=\"ps30127\">3\u00a0065<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.51pt\"></span></span><span class=\"ps30128\">1\u00a0084<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-6bfccbf4 ps3086\">dont Allemagne<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.38pt\"></span></span><span class=\"ps30129\">2\u00a0528<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.86pt\"></span></span><span class=\"ps20882\">1\u00a0663<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Am\u00e9riques</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.81pt\"></span></span><span class=\"ps30130\">4\u00a0313<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.01pt\"></span></span><span class=\"ps30131\">1\u00a0379<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-373e86b9 ps3086\">dont \u00c9tats-Unis / Mexique </span><span class=\"f charStyle-ee1faa92 ps30103\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.87pt\"></span></span><span class=\"ps30132\">4\u00a0096<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.35pt\"></span></span><span class=\"ps30133\">1\u00a0337<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.3pt\"></span></span><span class=\"ps30134\">6\u00a0819<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.59pt\"></span></span><span class=\"ps30135\">2\u00a0226<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-373e86b9 ps3086\">dont Chine</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30112 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.47pt\"></span></span><span class=\"ps30136\">3\u00a0675<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30114 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.55pt\"></span></span><span class=\"ps26141\">1\u00a0211<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">\u00c9liminations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30116 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.49pt\"></span></span><span class=\"ps27851\">(722)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps25253 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30119 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.56pt\"></span></span><span class=\"ps30137\">21\u00a0492<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.57pt\"></span></span><span class=\"ps28096\">8\u00a0531<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.11pt\">Les activit\u00e9s de Valeo au Mexique op\u00e8rent de mani\u00e8re quasi-exclusive en sous-traitance pour les \u00c9tats-Unis. La ventilation du chiffre d\u2019affaires</span><span class=\"f charStyle-776a1ec6 ps455\" style=\"width:1.7pt\"> </span></div><div class=\"ps30140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:403.58pt\">et des actifs non courants de la zone g\u00e9ographique Am\u00e9riques entre les \u00c9tats-Unis et le Mexique n'est donc pas pertinente.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-451": {
   "value": "<div class=\"ps29239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.64pt\">Conform\u00e9ment aux dispositions de la norme IFRS 8 \u00ab\u00a0Secteurs op\u00e9rationnels\u00a0\u00bb, l\u2019information sectorielle pr\u00e9sent\u00e9e ci-apr\u00e8s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.56pt\">est fond\u00e9e sur le reporting interne utilis\u00e9 par la Direction G\u00e9n\u00e9rale pour \u00e9valuer les performances et allouer les ressources</span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> </span></div>aux diff\u00e9rents secteurs. La Direction G\u00e9n\u00e9rale repr\u00e9sente le principal d\u00e9cideur op\u00e9rationnel au sens de la norme IFRS 8.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-452": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i403d90ce79c34afe9394632aa4e9b990\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">5<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps30141\"><span style=\"display:inline-block;height:13.55pt;width:36.65pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Donn\u00e9es </span><span class=\"f charStyle-26f8f9e5 ps30142\">op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.1<span id=\"i31e402ab19cd4795ac03dd7182fa3f92\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30143\"><span style=\"display:inline-block;height:10.16pt;width:29.42pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Chiffre d\u2019affaires<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">Pour chaque projet automobile, les trois principales<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.15pt\">promesses<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30146\" style=\"width:178.84pt\"> faites par Valeo \u00e0 un constructeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:166.37pt\">g\u00e9n\u00e9ralement identifi\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u00e9veloppement Produit, qui comprend notamment la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">d\u00e9termination des sp\u00e9cificit\u00e9s techniques intrins\u00e8ques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">des pi\u00e8ces ainsi que celles li\u00e9es au processus de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:49.02pt\">production </span><span class=\"f charStyle-81f42323 ps30152\" style=\"width:163.28pt\">associ\u00e9. \u00c0 ce titre, cette promesse est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:88.71pt\">consid\u00e9r\u00e9e usuellement</span><span class=\"f charStyle-165dec60 ps30154\" style=\"width:123.58pt\"> comme li\u00e9e \u00e0 la promesse de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des pi\u00e8ces ; les \u00e9ventuelles contributions</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">client au titre du D\u00e9veloppement Produit sont donc</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">reconnues en chiffre d\u2019affaires lors de la\u00a0production en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.22pt\">s\u00e9rie, soit au fur et \u00e0 mesure que la promesse de livrer</span><span class=\"f charStyle-165dec60 ps30159\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">les pi\u00e8ces est remplie dans la limite de quatre ans. Cette<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:173.45pt\">conclusion g\u00e9n\u00e9rale ne pr\u00e9sage pas du </span><span class=\"f charStyle-81f42323 ps30162\" style=\"width:38.83pt\">traitement</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps30164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.29pt\">comptable \u00e0 appliquer en fonction des sp\u00e9cificit\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:193.14pt\">contractuelles et op\u00e9rationnelles de chaque projet\u00a0;</span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des outillages de production, tels que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">moules et les autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:86.71pt\">production des pi\u00e8ces\u00a0:</span></div><div class=\"ps30169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">pour certaines activit\u00e9s, la fourniture de moules peut</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">\u00eatre consid\u00e9r\u00e9e comme une promesse distincte au</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">regard de l\u2019analyse du transfert de contr\u00f4le effectu\u00e9e.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">Le chiffre d\u2019affaires est alors reconnu lors du d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:131.18pt\">de la production en s\u00e9rie du projet,<span class=\"f ps53\"> </span></span></div><div class=\"ps30174 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">la fourniture des autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">production des pi\u00e8ces est consid\u00e9r\u00e9e comme li\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30175 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">fourniture des pi\u00e8ces. Toute contribution re\u00e7ue \u00e0 ce<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">titre est donc diff\u00e9r\u00e9e et reconnue sur la dur\u00e9e de vie</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">industrielle du projet au fur et \u00e0 mesure que la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.42pt\">promesse de livrer les pi\u00e8ces est remplie dans la limite</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:53.38pt\">de quatre ans,<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps30180\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.49pt\">fourniture des pi\u00e8ces, dont le chiffre d\u2019affaires est</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.43pt\">constat\u00e9 au moment o\u00f9 le contr\u00f4le sur les pi\u00e8ces est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:176.48pt\">transf\u00e9r\u00e9 au client, soit en g\u00e9n\u00e9ral \u00e0 la livraison.</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00c0 ce titre, le chiffre d\u2019affaires inclut essentiellement les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">ventes de produits finis, ainsi que l\u2019ensemble des revenus</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sur outillages et les contributions clients sur les frais de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Recherche et D\u00e9veloppement et les prototypes. Il est</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">\u00e9valu\u00e9 \u00e0 la juste valeur de la contrepartie attendue, net</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">des rabais, remises et ristournes \u00e9ventuels et hors TVA et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">autres taxes. Le cas \u00e9ch\u00e9ant, lorsque le prix d\u2019un contrat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">fait l\u2019objet d\u2019une modification, l\u2019impact de cette r\u00e9vision</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">est allou\u00e9 aux obligations de performance sur lesquelles</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:92.97pt\">porte cette modification.</span><span class=\"f charStyle-165dec60 ps18267\" style=\"width:1.96pt\"> </span></div><div class=\"ps30182 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:6.19pt\">D</span><span class=\"f charStyle-81f42323 ps30181\" style=\"width:211.77pt\">ans le cadre de contrats sp\u00e9cifiques, l\u2019examen de la relation</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30183 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">avec le client final conduit Valeo \u00e0 consid\u00e9rer qu\u2019il agit en</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps30184 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">tant qu\u2019agent dans la mise \u00e0 disposition au client final de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">composants dits \u00ab\u00a0impos\u00e9s\u00a0\u00bb. \u00c0 ce titre, les transactions</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">dans lesquelles Valeo agit comme agent sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comptabilis\u00e9es pour leur montant net. Ce mod\u00e8le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30185 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9conomique concerne notamment l\u2019activit\u00e9 des modules</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30187 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.29pt\">face avant de la Division POWER.</span><span class=\"f charStyle-165dec60 ps30186\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Contractuellement, Valeo se voit g\u00e9n\u00e9ralement octroy\u00e9</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l'int\u00e9gralit\u00e9 des besoins d'un client pour la fourniture de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">pi\u00e8ces pour un projet sp\u00e9cifique. Tant qu\u2019un appel ferme</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">de volumes n\u2019a pas \u00e9t\u00e9 re\u00e7u du client, les volumes futurs</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30188 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">pr\u00e9visionnels ne peuvent pas \u00eatre inclus dans le carnet de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30189 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">commandes tel que d\u00e9fini par IFRS 15. La publication de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81f42323 ps6329\" style=\"width:19.94pt\">ette </span><span class=\"f charStyle-165dec60 ps30190\" style=\"width:193.81pt\">information n\u2019est donc pas consid\u00e9r\u00e9e comme</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17510 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:41.49pt\">pertinente.</span></div><div class=\"ps12380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:172.46pt\">Le chiffre d\u2019affaires du groupe Valeo s\u2019\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-165dec60 ps30192\" style=\"width:25.2pt\">20\u00a0903</span><span class=\"f charStyle-165dec60 ps30193\" style=\"width:31.67pt\"> millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:42.7pt\">d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30195\" style=\"width:31.65pt\">, contre </span><span class=\"f charStyle-165dec60 ps30196\" style=\"width:23.46pt\">21\u00a0492</span><span class=\"f charStyle-165dec60 ps9208\" style=\"width:77.62pt\"> millions d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30197\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30198\" style=\"width:17.75pt\">, soit</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:16.6pt\">une </span><span class=\"f charStyle-165dec60 ps30199\" style=\"width:23.36pt\">baisse</span><span class=\"f charStyle-165dec60 ps30200\" style=\"width:13.53pt\"> de </span><span class=\"f charStyle-165dec60 ps30201\" style=\"width:18.42pt\">2,7 %</span><span class=\"f charStyle-165dec60 ps30202\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps8260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">L\u2019\u00e9volution des taux de change a un effet d\u00e9favorable de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps8265 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">2,4\u00a0% principalement li\u00e9 \u00e0 l\u2019appr\u00e9ciation de l\u2019euro face au</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps8266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dollar am\u00e9ricain, au renminbi chinois et au won sud-cor\u00e9en.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30203 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Les variations de p\u00e9rim\u00e8tre ont un effet d\u00e9favorable de 0.8%</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">principalement li\u00e9 \u00e0 la cession intervenue au 30 juin 2024 de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps15313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">l\u2019activit\u00e9 Syst\u00e8mes thermiques v\u00e9hicules commerciaux et de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:189.11pt\">l\u2019activit\u00e9 PIAA, soci\u00e9t\u00e9 sp\u00e9cialis\u00e9e dans la </span><span class=\"f charStyle-1abed7d4 ps30204\" style=\"width:40.18pt\">fabrication</span><span class=\"f charStyle-1abed7d4 ps467\" style=\"width:1.93pt\"> </span></div><div class=\"ps15315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps448\" style=\"width:128.02pt\">d'\u00e9quipements innovants pour </span><span class=\"f charStyle-367d076b ps30205\" style=\"width:101.3pt\">l\u2019\u00e9clairage de v\u00e9hicule et</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps15316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:149.44pt\">rattach\u00e9e \u00e0 Valeo Service, en ao\u00fbt 2024</span><span class=\"f charStyle-bd02d35c ps30206\" style=\"width:1.39pt\">.</span><span class=\"f charStyle-165dec60 ps30207\" style=\"width:62.09pt\"> \u00c0 p\u00e9rim\u00e8tre et </span><span class=\"f charStyle-9c680f66 ps30208\" style=\"width:16.38pt\">taux</span><span class=\"f charStyle-9c680f66 ps449\" style=\"width:1.93pt\"> </span></div><div class=\"ps15317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:229.32pt\">de change constants, le chiffre d\u2019affaires consolid\u00e9 augmente</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.44pt\">de 0,5\u00a0% entre les exercices </span><span class=\"f charStyle-165dec60 ps30209\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30210\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps30211\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30212\" style=\"width:1.59pt\">.</span></div><div class=\"ps26901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.69pt\">Le chiffre d\u2019affaires se d\u00e9compose comme suit\u00a0:</span></div><div class=\"ps30218 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><span id=\"i2765b25b62fe401cb2411ffc354b8991_0-0-1-1-925878\"></span><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps18377\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Premi\u00e8re monte<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">17\u00a0301<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.03pt\"></span></span><span class=\"ps30214\">17\u00a0950<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">March\u00e9 du remplacement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.49pt\"></span></span><span class=\"ps30215\">2\u00a0135<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.59pt\"></span></span><span class=\"ps30135\">2\u00a0262<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Divers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.28pt\"></span></span><span class=\"ps30216\">1\u00a0467<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.21pt\"></span></span><span class=\"ps30217\">1\u00a0280<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CHIFFRE D'AFFAIRES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.55pt\"></span></span><span class=\"ps17235\">20\u00a0903<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.56pt\"></span></span><span class=\"ps30137\">21\u00a0492<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps27448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:229.32pt\">En 2025 comme en 2024, deux clients g\u00e9n\u00e8rent un chiffre</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps27449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:229.33pt\">d\u2019affaires sup\u00e9rieur \u00e0 10 %. La part respective de chacun de ces</span><span class=\"f charStyle-c8069515 ps412\" style=\"width:1.84pt\"> </span></div><div class=\"ps27450 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:126.71pt\">deux clients s\u2019\u00e9l\u00e8ve \u00e0 15 % et 13 % </span><span class=\"f charStyle-c8069515 ps30219\" style=\"width:102.51pt\">du chiffre d\u2019affaires total du</span><span class=\"f charStyle-c8069515 ps4806\" style=\"width:1.84pt\"> </span></div><div class=\"ps30221 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:27.42pt\">Groupe</span><span class=\"f charStyle-c8069515 ps30220\" style=\"width:201.84pt\">. Le poids de ces clients dans chacune des trois</span><span class=\"f charStyle-c8069515 ps410\" style=\"width:1.84pt\"> </span></div><div class=\"ps26699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:138.02pt\">Divisions est globalement homog\u00e8ne.</span></div><div class=\"ps5031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:229.31pt\">Les contributions clients sur les frais de Recherche et</span><span class=\"f charStyle-5064d44f ps418\" style=\"width:1.89pt\"> </span></div><div class=\"ps5032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:182.08pt\">D\u00e9veloppement et les prototypes s'\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-5064d44f ps30222\" style=\"width:13.77pt\">805</span><span class=\"f charStyle-5064d44f ps30223\" style=\"width:33.43pt\"> millions</span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> </span></div><div class=\"ps5033 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:85.28pt\">d'euros sur l'exercice </span><span class=\"f charStyle-5064d44f ps30224\" style=\"width:17.42pt\">2025</span><span class=\"f charStyle-165dec60 ps30225\" style=\"width:33.3pt\"> contre </span><span class=\"f charStyle-165dec60 ps30226\" style=\"width:11.48pt\">631</span><span class=\"f charStyle-165dec60 ps339\" style=\"width:81.83pt\"> millions d\u2019euros sur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:37.59pt\">l'exercice </span><span class=\"f charStyle-165dec60 ps14931\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30227\" style=\"width:173.24pt\">. Elles sont pr\u00e9sent\u00e9es sur la ligne \u00ab\u00a0Divers\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps5035 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Dans la plupart des cas, ces contributions sont reconnues en</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps5036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.24pt\">chiffre d\u2019affaires </span><span class=\"f charStyle-165dec60 ps30228\" style=\"width:162.05pt\">au cours de la\u00a0production en s\u00e9rie des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps5037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:62.97pt\">pi\u00e8ces associ\u00e9es.</span></div><div class=\"ps27448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:186.36pt\">Le chiffre d\u2019affaires du Groupe tient compte d\u2019</span><span class=\"f charStyle-165dec60 ps30229\" style=\"width:42.95pt\">indemnit\u00e9s</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps27449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">per\u00e7ues de clients notamment en lien avec des annulations</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps27450 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">de projets, des baisses de volumes significatives ou des fins</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30221 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:94.16pt\">de production anticip\u00e9s.</span><span class=\"f charStyle-165dec60 ps30230\" style=\"width:135.16pt\"> Dans le cas d\u2019annulations portant</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps26699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.35pt\">sur des projets </span><span class=\"f charStyle-165dec60 ps30231\" style=\"width:167.96pt\">dont la\u00a0production en s\u00e9rie n\u2019a pas encore</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26700 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:187.65pt\">d\u00e9marr\u00e9e, les indemnit\u00e9s per\u00e7ues de clients sont </span><span class=\"f charStyle-165dec60 ps30232\" style=\"width:41.63pt\">pr\u00e9sent\u00e9es</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.86pt\">sur la ligne \u00ab\u00a0Divers\u00a0\u00bb.</span></div><div class=\"ps30346 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.3<span id=\"i536db04b76d0497cac04f71354e38a6d_1079\"></span><span id=\"i536db04b76d0497cac04f71354e38a6d_1082\"></span><span id=\"i52b2e844c77e499fabef12a5277c096c\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30345\"><span style=\"display:inline-block;height:10.16pt;width:27.32pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Co\u00fbt des ventes<span class=\"f ps53\"> </span></span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.63pt\">Le co\u00fbt des ventes inclut, le cas \u00e9ch\u00e9ant, les indemnit\u00e9s d\u2019assurance relatives \u00e0 des sinistres intervenus dans le cadre des</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.64pt\">activit\u00e9s op\u00e9rationnelles du Groupe. Il peut s\u2019agir de crises qualit\u00e9 ou de dommages aux biens. Un produit d\u2019assurance est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.52pt\">enregistr\u00e9 au compte de r\u00e9sultat \u00e0 la date du sinistre, s\u2019il est d\u00e9montr\u00e9 que les dommages sont couverts par une police</span><span class=\"f charStyle-165dec60 ps19112\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.62pt\">d'assurance en cours de validit\u00e9. Si ce droit est conditionn\u00e9 \u00e0 la r\u00e9alisation ult\u00e9rieure de r\u00e9parations ou\u00a0\u00e0\u00a0l\u2019acquisition de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.55pt\">nouveaux actifs (indemnit\u00e9 conditionnelle), le produit y aff\u00e9rent doit \u00eatre reconnu au moment o\u00f9 interviennent les</span><span class=\"f charStyle-165dec60 ps30348\" style=\"width:1.96pt\"> </span></div><div class=\"ps4979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:139.66pt\">r\u00e9parations ou acquisitions pr\u00e9cit\u00e9es.<span class=\"f ps53\"> </span></span></div><div class=\"ps8381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.11pt\">Le co\u00fbt des ventes se d\u00e9compose comme suit\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps30368 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:27.75pt\"></td><td style=\"padding:0;width:12pt\"></td><td style=\"padding:0;width:176.25pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td rowspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss1934\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30349\"></span><span class=\"ps30349\">55,1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30272 ss1939\"><div><div class=\"ps17246 ss969\"><span class=\"f charStyle-4da12822 ps30350\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30351 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Consommation mati\u00e8res</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.07pt\"></span></span><span class=\"ps30352\">(11\u00a0526)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.61pt\"></span></span><span class=\"ps30353\">(12\u00a0038)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30277 ss1934\"><div><div class=\"ps30276 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30278 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30354\"></span><span class=\"ps30354\">11,7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30279 ss1939\"><div><div class=\"ps17246 ss969\"><span class=\"f charStyle-4da12822 ps30350\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30355 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Main-d'\u0153uvre </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30281 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.15pt\"></span></span><span class=\"ps27621\">(2\u00a0443)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30357 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.05pt\"></span></span><span class=\"ps30356\">(2\u00a0627)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30283 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdbfbd4c ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30284 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30358\"></span><span class=\"ps30358\">8,2 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30285 ss1939\"><div><div class=\"ps17246 ss969\"><span class=\"f charStyle-4da12822 ps30350\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30359 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-249bb638 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps4503\">Co\u00fbts directs et frais g\u00e9n\u00e9raux de production </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30287 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.3pt\"></span></span><span class=\"ps30134\">(1\u00a0717)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30360 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.21pt\"></span></span><span class=\"ps30104\">(1\u00a0724)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cbb4a92e ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps27152\"></span><span class=\"ps27152\">4,7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30291 ss1939\"><div><div class=\"ps17246 ss969\"><span class=\"f charStyle-4da12822 ps30350\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30362 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Amortissements et pertes de valeur </span><span class=\"f charStyle-4da12822 ps30361\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.36pt\"></span></span><span class=\"ps20332\">(988)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30364 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.36pt\"></span></span><span class=\"ps30363\">(1\u00a0022)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30365 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-ae6044e9 ps10\">CO\u00dbT DES VENTES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.86pt\"></span></span><span class=\"ps30366\">(16\u00a0674)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10380 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.52pt\"></span></span><span class=\"ps30367\">(17\u00a0411)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:82.14pt\">En % du chiffre d\u2019affaires.</span><span class=\"f charStyle-776a1ec6 ps30372\" style=\"width:1.7pt\"> </span></div><div class=\"ps30374 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ce montant n\u2019inclut pas les amortissements et pertes de valeur sur les frais de d\u00e9veloppement capitalis\u00e9s comptabilis\u00e9s en frais de Recherche<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">et\u00a0D\u00e9veloppement. Il inclut l\u2019impact des subventions publiques sur les actifs non courants de production (hors Recherche et D\u00e9veloppement)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">reconnu au compte de r\u00e9sultat sur l'exercice ainsi que l\u2019impact des mises au rebut et les plus ou moins-value de cession d\u2019immobilisations</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps30378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.25pt\">corporelles.</span><span class=\"f charStyle-776a1ec6 ps30377\" style=\"width:1.7pt\"> </span></div><div class=\"ps30428 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.5<span id=\"ib58d2ba2561a441887f5738b8d67ffde\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps29570\"><span style=\"display:inline-block;height:10.16pt;width:27.29pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Marge op\u00e9rationnelle y compris la quote-part dans les r\u00e9sultats <span class=\"f ps53\"> </span></span></div><div class=\"ps30429 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps2788\">des\u00a0soci\u00e9t\u00e9s\u00a0mises\u00a0en \u00e9quivalence<span class=\"f ps53\"> </span></span></div><div class=\"ps16999 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">La marge op\u00e9rationnelle correspond au chiffre d\u2019affaires diminu\u00e9 des co\u00fbts des ventes, des frais de Recherche et de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps26554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:59.87pt\">D\u00e9veloppement</span><span class=\"f charStyle-165dec60 ps30432\" style=\"width:187.55pt\"> ainsi que des frais commerciaux et administratifs.</span></div><div class=\"ps13634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.56pt\">La marge op\u00e9rationnelle y compris la quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence correspond au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:204.16pt\">r\u00e9sultat op\u00e9rationnel avant autres produits et charges.</span></div><div class=\"ps20920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:102.15pt\">Sur l\u2019exercice clos au </span><span class=\"f charStyle-81993cb5 ps30433\" style=\"width:78.54pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps12447\" style=\"width:48.59pt\">, la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps610\" style=\"width:1.87pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20921 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:53.44pt\">op\u00e9rationnelle</span><span class=\"f charStyle-165dec60 ps30434\" style=\"width:175.84pt\"> y compris la quote-part dans les r\u00e9sultats des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30439 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:134.09pt\">soci\u00e9t\u00e9s mises en \u00e9quivalence est </span><span class=\"f charStyle-165dec60 ps30435\" style=\"width:46.33pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30436\" style=\"width:3.12pt\"> </span><span class=\"f charStyle-165dec60 ps30437\" style=\"width:13.21pt\">957</span><span class=\"f charStyle-165dec60 ps30438\" style=\"width:32.54pt\"> millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps26559 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:46.52pt\">d\u2019euros, soit </span><span class=\"f charStyle-165dec60 ps30440\" style=\"width:19.27pt\">4,6 %</span><span class=\"f charStyle-165dec60 ps28152\" style=\"width:102.18pt\"> du chiffre d\u2019affaires contre </span><span class=\"f charStyle-165dec60 ps30441\" style=\"width:18.93pt\">4,3 %</span><span class=\"f charStyle-165dec60 ps30442\" style=\"width:13.52pt\"> en </span><span class=\"f charStyle-165dec60 ps30443\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30444\" style=\"width:1.59pt\">.</span></div><div class=\"ps15161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:229.3pt\">La quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en</span><span class=\"f charStyle-bd9dab06 ps608\" style=\"width:1.81pt\"> </span></div><div class=\"ps15162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps275\" style=\"width:43.85pt\">\u00e9quivalence</span><span class=\"f charStyle-165dec60 ps30445\" style=\"width:24.19pt\"> est </span><span class=\"f charStyle-165dec60 ps30446\" style=\"width:41.3pt\">une perte</span><span class=\"f charStyle-165dec60 ps30447\" style=\"width:22.57pt\"> de </span><span class=\"f charStyle-165dec60 ps30448\" style=\"width:9.21pt\">20</span><span class=\"f charStyle-165dec60 ps30449\" style=\"width:88.16pt\"> millions d\u2019euros sur</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps15163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:37.18pt\">l\u2019exercice </span><span class=\"f charStyle-165dec60 ps30450\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30451\" style=\"width:31.23pt\">, contre </span><span class=\"f charStyle-165dec60 ps30452\" style=\"width:29.28pt\">un gain</span><span class=\"f charStyle-165dec60 ps30453\" style=\"width:14.69pt\"> de </span><span class=\"f charStyle-165dec60 ps30454\" style=\"width:6.95pt\">12</span><span class=\"f charStyle-165dec60 ps30455\" style=\"width:92.26pt\"> millions d\u2019euros au titre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:48.17pt\">de l\u2019exercice <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30456\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30457\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27793\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">Le d\u00e9tail de la quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps20921 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:143.81pt\">mises en \u00e9quivalence est explicit\u00e9 en </span><span class=\"f charStyle-165dec60 ps30458\" style=\"width:36.68pt\">Note 5.5.3</span><span class=\"f charStyle-165dec60 ps30459\" style=\"width:48.76pt\">, pages 401 \u00e0</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps30439 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:15.72pt\">403.</span><span class=\"f charStyle-165dec60 ps30460\" style=\"width:1.96pt\"> </span></div><div class=\"ps30461 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.1<span class=\"f ps53\"> </span><span id=\"i001ad646532d4045aa36fe5fbd0abf8e\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps19680\"><span style=\"display:inline-block;height:8.71pt;width:15.1pt\"></span></span><span class=\"ps29285\">Frais de Recherche et D\u00e9veloppement</span></span></div><div class=\"ps21019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.1.1<span id=\"i672d715b2a0048f58f84c7247f67cb53\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30462\"><span style=\"display:inline-block;height:8.22pt;width:10.6pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps14006 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Le processus d\u2019innovation peut s\u2019analyser en une activit\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:217.93pt\">de recherche et une activit\u00e9 de d\u00e9veloppement. La</span><span class=\"f charStyle-49b0b1fa ps415\" style=\"width:1.84pt\"> </span></div><div class=\"ps14008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:45.52pt\">recherche <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30465\" style=\"width:19.78pt\">est </span><span class=\"f charStyle-53279637 ps30466\" style=\"width:152.67pt\">l\u2019activit\u00e9 qui permet d\u2019acqu\u00e9rir des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps418\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:101.33pt\">connaissances scientifiques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30467\" style=\"width:2.07pt\"> </span><span class=\"f charStyle-81f42323 ps30468\" style=\"width:114.58pt\">ou des techniques nouvelles. Le</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:115.54pt\">d\u00e9veloppement est l\u2019application</span><span class=\"f charStyle-165dec60 ps30469\" style=\"width:2.02pt\"> </span><span class=\"f charStyle-56831d77 ps30470\" style=\"width:100.42pt\">des r\u00e9sultats de la recherche</span><span class=\"f charStyle-56831d77 ps431\" style=\"width:1.7pt\"> </span></div><div class=\"ps14011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps6588\" style=\"width:171.73pt\">en vue de la r\u00e9alisation des produits,</span><span class=\"f charStyle-e64cbdd5 ps30471\" style=\"width:9.18pt\"> </span><span class=\"f charStyle-165dec60 ps30472\" style=\"width:37.05pt\">avant le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps22258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.86pt\">commencement de leur production commerciale.<span class=\"f ps53\"> </span></span></div><div class=\"ps14014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les co\u00fbts li\u00e9s \u00e0 la recherche sont comptabilis\u00e9s en charge</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.83pt\">de l\u2019exercice au cours duquel ils sont encourus.</span><span class=\"f charStyle-165dec60 ps30473\" style=\"width:1.96pt\"> </span></div><div class=\"ps21176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les frais de d\u00e9veloppement sont, quant \u00e0 eux,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">immobilis\u00e9s d\u00e8s lors que le Groupe est en mesure de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps18764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:44.45pt\">d\u00e9montrer\u00a0:</span></div><div class=\"ps30474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">son intention ainsi que sa capacit\u00e9 financi\u00e8re et</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps30475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:40.87pt\">technique <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5316\" style=\"width:171.44pt\">de mener le projet de d\u00e9veloppement \u00e0 son</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">terme, qui se mat\u00e9rialisent notamment par l\u2019obtention</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:185.98pt\">d\u2019une lettre de nomination du client sur le projet\u00a0;</span></div><div class=\"ps30478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps3285\" style=\"width:212.28pt\">que l\u2019actif incorporel g\u00e9n\u00e9rera des avantages<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30480 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps3285\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps21387\" style=\"width:3.48pt\"> </span><span class=\"f charStyle-49b0b1fa ps30479\" style=\"width:158.51pt\">futurs d\u2019une valeur sup\u00e9rieure \u00e0 sa valeur</span><span class=\"f charStyle-49b0b1fa ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps30482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps3285\" style=\"width:66.4pt\">nette comptable,</span><span class=\"f charStyle-165dec60 ps30481\" style=\"width:145.91pt\"> qui s\u2019analyse notamment par une</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:157.72pt\">marge pr\u00e9visionnelle du projet suffisante ;</span></div><div class=\"ps15194 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.24pt\">et que le co\u00fbt de cet actif incorporel peut \u00eatre \u00e9valu\u00e9 de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15195 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:45.09pt\">fa\u00e7on fiable.</span></div><div class=\"ps14006 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Les frais de d\u00e9veloppement inscrits \u00e0 l\u2019actif de l\u2019\u00e9tat de la</span><span class=\"f charStyle-56831d77 ps16299\" style=\"width:1.7pt\"> </span></div><div class=\"ps14007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps448\" style=\"width:217.95pt\">situation financi\u00e8re correspondent donc \u00e0 des projets</span><span class=\"f charStyle-56831d77 ps16281\" style=\"width:1.7pt\"> </span></div><div class=\"ps14008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps448\" style=\"width:45.35pt\">d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30484\" style=\"width:172.58pt\"> sp\u00e9cifique \u00e0 un client donn\u00e9, reposant sur</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps14009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">des standards g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u00e9j\u00e0 appliqu\u00e9es en production. Ces projets font l\u2019objet</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019une analyse au cas par cas afin de s\u2019assurer qu\u2019ils</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps22258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9pondent bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s ci-</span></div><div class=\"ps22259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">contre. Les frais encourus avant la d\u00e9cision formelle</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps22260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">d\u2019entrer dans le d\u00e9veloppement du produit sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps22261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:203.22pt\">enregistr\u00e9s dans les charges de la p\u00e9riode. Les </span><span class=\"f charStyle-81f42323 ps30485\" style=\"width:14.73pt\">frais</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps22262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.95pt\">encourus post\u00e9rieurement au d\u00e9marrage de la production</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps22263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:199.6pt\">en s\u00e9rie sont trait\u00e9s comme des co\u00fbts de production.</span><span class=\"f charStyle-165dec60 ps30486\" style=\"width:1.96pt\"> </span></div><div class=\"ps21335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">Les frais de d\u00e9veloppement immobilis\u00e9s li\u00e9s \u00e0 des projets</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps21336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">n'ayant pas encore atteint le d\u00e9marrage s\u00e9rie font l'objet</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30487 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">de tests de d\u00e9pr\u00e9ciation d\u00e8s l'apparition d'indices de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">perte de valeur et en tout \u00e9tat de cause au minimum une</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fois par an. Post\u00e9rieurement au d\u00e9marrage s\u00e9rie, ils sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9116 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:32.31pt\">test\u00e9s a<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps30490\" style=\"width:185.68pt\">u niveau des unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie</span><span class=\"f charStyle-42e3db84 ps16296\" style=\"width:1.82pt\"> </span></div><div class=\"ps7915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:12.07pt\">(cf.\u00a0</span><span class=\"f charStyle-42e3db84 ps30491\" style=\"width:30.15pt\">Note 7.4</span><span class=\"f charStyle-42e3db84 ps30492\" style=\"width:63.72pt\">, pages 419 \u00e0 422).</span></div><div class=\"ps21340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais de d\u00e9veloppement immobilis\u00e9s sont amortis</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">selon la m\u00e9thode lin\u00e9aire sur une dur\u00e9e maximale de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30495 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.58pt\">quatre ans </span><span class=\"f charStyle-c8069515 ps30494\" style=\"width:170.36pt\">\u00e0 compter de la date de d\u00e9marrage de la</span><span class=\"f charStyle-c8069515 ps16283\" style=\"width:1.84pt\"> </span></div><div class=\"ps30496 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:72.38pt\">production en\u00a0s\u00e9rie.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:4.41pt\">L</span><span class=\"f charStyle-165dec60 ps30498\" style=\"width:263.57pt\">es variations des co\u00fbts de d\u00e9veloppement capitalis\u00e9s sur les exercices </span><span class=\"f charStyle-165dec60 ps30499\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30500\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps12619\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30501\" style=\"width:101.68pt\"> sont analys\u00e9es ci-dessous\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-c942a721 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-795e0f1d ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-c942a721 ps30503\"> JANVIER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.71pt\"></span></span><span class=\"ps30504\">6\u00a0511<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.38pt\"></span></span><span class=\"ps30505\">6\u00a0042<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et d\u00e9pr\u00e9ciations cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.08pt\"></span></span><span class=\"ps30506\">(3\u00a0726)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.25pt\"></span></span><span class=\"ps28270\">(3\u00a0625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-c942a721 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-795e0f1d ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-c942a721 ps30508\"> JANVIER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.34pt\"></span></span><span class=\"ps30509\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.65pt\"></span></span><span class=\"ps30510\">2\u00a0417<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Capitalisations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.2pt\"></span></span><span class=\"ps30511\">930<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.13pt\"></span></span><span class=\"ps30512\">1\u00a0045<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16833 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30334 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30336 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16837 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30515 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.06pt\"></span></span><span class=\"ps30514\">(234)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30517 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.36pt\"></span></span><span class=\"ps30516\">(66)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps772 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30519 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.45pt\"></span></span><span class=\"ps30518\">(623)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30521 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.43pt\"></span></span><span class=\"ps30520\">(625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9780 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Reclassements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30523 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.16pt\"></span></span><span class=\"ps30522\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30525 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.99pt\"></span></span><span class=\"ps30524\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30527 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.97pt\"></span></span><span class=\"ps30526\">(94)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30528 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.16pt\"></span></span><span class=\"ps27977\">39<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">VALEUR NETTE AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27870 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.68pt\"></span></span><span class=\"ps30529\">2\u00a0772<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27872 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.34pt\"></span></span><span class=\"ps30509\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30531 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.1.2<span id=\"ic5b0c277691446198116906c45dc67e7\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30530\"><span style=\"display:inline-block;height:8.22pt;width:8.92pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Frais de Recherche et D\u00e9veloppement</span></div><div class=\"ps30537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:89.03pt\">Les frais de Recherche </span><span class=\"f charStyle-165dec60 ps30534\" style=\"width:7.57pt\">et</span><span class=\"f charStyle-165dec60 ps30535\" style=\"width:361.89pt\"> de D\u00e9veloppement sont constitu\u00e9s des co\u00fbts encourus sur la p\u00e9riode, y compris les dotations</span><span class=\"f charStyle-165dec60 ps30536\" style=\"width:1.96pt\"> </span></div><div class=\"ps30538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.61pt\">aux amortissements des co\u00fbts de d\u00e9veloppement capitalis\u00e9s, minor\u00e9s des cr\u00e9dits d\u2019imp\u00f4t recherche et de la quote-part</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:378.05pt\">rapport\u00e9e au r\u00e9sultat des subventions accord\u00e9es au Groupe pour la Recherche et le D\u00e9veloppement.</span></div><div class=\"ps15509 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:333.23pt\">Les frais de Recherche et D\u00e9veloppement se d\u00e9composent comme suit sur les exercices </span><span class=\"f charStyle-165dec60 ps30541\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30542\" style=\"width:11.49pt\"> et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30543\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps20647\" style=\"width:3.55pt\">\u00a0:</span></div><div class=\"ps30556 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Frais de Recherche et D\u00e9veloppement bruts </span><span class=\"f charStyle-4da12822 ps30544\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps30545\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.44pt\"></span></span><span class=\"ps25776\">(2\u00a0459)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.14pt\"></span></span><span class=\"ps30546\">(2\u00a0652)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Subventions et autres produits </span><span class=\"f charStyle-4da12822 ps30547\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.64pt\"></span></span><span class=\"ps30548\">109<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.64pt\"></span></span><span class=\"ps30548\">109<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.12pt\"></span></span><span class=\"ps30549\">930<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.05pt\"></span></span><span class=\"ps30550\">1\u00a0045<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Amortissements, pertes de valeur et mouvements de provisions </span><span class=\"f charStyle-4da12822 ps30551\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.16pt\"></span></span><span class=\"ps30552\">(853)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.81pt\"></span></span><span class=\"ps30553\">(628)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16833 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-96b05324 ps10\">FRAIS DE RECHERCHE ET D\u00c9VELOPPEMENT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30334 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.68pt\"></span></span><span class=\"ps30554\">(2\u00a0273)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30336 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.17pt\"></span></span><span class=\"ps30555\">(2\u00a0127)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30557 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.02pt\">Dans les comptes consolid\u00e9s au 31 d\u00e9cembre 2024, les frais de Recherche et D\u00e9veloppement bruts incluaient les variations de provisions</span><span class=\"f charStyle-776a1ec6 ps1121\" style=\"width:1.7pt\"> </span></div><div class=\"ps30558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">relatives \u00e0 des frais de Recherche et D\u00e9veloppement qui constituaient un produit de 62 millions d\u2019euros. Dans le tableau ci-dessus, l\u2019impact de</span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> </span></div><div class=\"ps27779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:341.35pt\">ces variations de provisions n\u2019est plus pr\u00e9sent\u00e9 au sein de cette ligne. Celui-ci est pr\u00e9sent\u00e9 sur la ligne </span><span class=\"f charStyle-165dec60 ps30559\" style=\"width:5.97pt\">\u00ab\u00a0</span><span class=\"f charStyle-776a1ec6 ps30560\" style=\"width:119.83pt\">Amortissements, pertes de valeur et</span><span class=\"f charStyle-776a1ec6 ps460\" style=\"width:1.7pt\"> </span></div><div class=\"ps27781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:88.35pt\">mouvements de provisions</span><span class=\"f charStyle-165dec60 ps30561\" style=\"width:5.53pt\">\u00a0\u00bb</span><span class=\"f charStyle-776a1ec6 ps20346\" style=\"width:1.37pt\">.</span></div><div class=\"ps30562 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.01pt\">L'incidence du Cr\u00e9dit d'Imp\u00f4t Recherche, ou de tout autre dispositif fiscal similaire dans d'autres juridictions hors du champ d'application</span><span class=\"f charStyle-776a1ec6 ps1225\" style=\"width:1.7pt\"> </span></div><div class=\"ps30563 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.15pt\">d'IAS 12, ainsi que l'incidence de la subvention calcul\u00e9e sur l'emprunt souscrit aupr\u00e8s de la Banque europ\u00e9enne d'investissement en 2021 sont</span><span class=\"f charStyle-776a1ec6 ps460\" style=\"width:1.7pt\"> </span></div><div class=\"ps30565 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:85.63pt\">pr\u00e9sent\u00e9es sur cette ligne.</span><span class=\"f charStyle-776a1ec6 ps30564\" style=\"width:1.7pt\"> </span></div><div class=\"ps30566 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.09pt\">Les amortissements et pertes de valeur des frais de d\u00e9veloppement immobilis\u00e9s comprises dans la marge op\u00e9rationnelle ainsi que les</span><span class=\"f charStyle-776a1ec6 ps1710\" style=\"width:1.7pt\"> </span></div><div class=\"ps30567 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:387.3pt\">dotations, reprises et utilisations de provisions sur frais de Recherche et D\u00e9veloppement sont pr\u00e9sent\u00e9s sur cette ligne.</span></div><div class=\"ps30568 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.61pt\">En </span><span class=\"f charStyle-165dec60 ps29568\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps19538\" style=\"width:220.37pt\">, les actions lanc\u00e9es par Valeo au cours de l\u2019exercice </span><span class=\"f charStyle-68ecf294 ps1348\" style=\"width:228.64pt\"><span style=\"background-color:inherit\">pour rationaliser ses efforts en mati\u00e8re de Recherche et</span></span><span class=\"f charStyle-68ecf294 ps460\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps30569 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.25pt\"><span style=\"background-color:inherit\">D\u00e9veloppement ont conduit \u00e0 une diminution des frais de Recherche et D\u00e9veloppement bruts par rapport \u00e0 2024. Par ailleurs,</span></span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30574 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:184.05pt\"><span style=\"background-color:inherit\">Valeo a comptabilis\u00e9 des pertes de valeur de </span></span><span class=\"f charStyle-165dec60 ps30570\" style=\"width:13.42pt\">234</span><span class=\"f charStyle-165dec60 ps30571\" style=\"width:68.51pt\"> millions d\u2019euros </span><span class=\"f charStyle-68ecf294 ps30572\" style=\"width:101.25pt\"><span style=\"background-color:inherit\">principalement du fait de</span></span><span class=\"f charStyle-165dec60 ps30573\" style=\"width:114.02pt\"> r\u00e9siliations de contrats pour</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30575 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:240.23pt\">lesquelles le Groupe a obtenu des compensations de ses clients.</span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">Les contributions clients sur les frais de Recherche et D\u00e9veloppement et les prototypes sont comptabilis\u00e9es en chiffres d'affaires</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:186.38pt\">et\u00a0pr\u00e9sent\u00e9es au sein du poste \u00ab\u00a0Divers\u00a0\u00bb (cf. Note </span><span class=\"f charStyle-165dec60 ps12067\" style=\"width:8.53pt\">5.1</span><span class=\"f charStyle-165dec60 ps30576\" style=\"width:42.06pt\">, page 396).</span><span class=\"f charStyle-165dec60 ps30577\" style=\"width:1.96pt\"> </span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:219.87pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche en France, dont le calcul est\u00a0</span><span class=\"f charStyle-165dec60 ps30580\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">bas\u00e9 sur certaines d\u00e9penses de recherche relatives \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">projets jug\u00e9s\u00a0\u00ab\u00a0\u00e9ligibles\u00a0\u00bb,\u00a0est pay\u00e9 par l\u2019\u00c9tat quelle que</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">soit la situation de l\u2019entit\u00e9 au regard de l\u2019imp\u00f4t sur les</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">soci\u00e9t\u00e9s\u00a0: si la soci\u00e9t\u00e9 b\u00e9n\u00e9ficiaire du Cr\u00e9dit d\u2019Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Recherche est redevable de l\u2019imp\u00f4t sur les soci\u00e9t\u00e9s, ce</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.9pt\">cr\u00e9dit sera imput\u00e9 sur l\u2019imp\u00f4t \u00e0 payer\u00a0; \u00e0 d\u00e9faut, il sera</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps30585 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.93pt\">rembours\u00e9 par l\u2019\u00c9tat dans un d\u00e9lai de trois ans.</span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche, ou tout autre dispositif fiscal</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">similaire dans d\u2019autres juridictions, n\u2019entre donc pas dans</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">le champ d\u2019application de la norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">r\u00e9sultat\u00a0\u00bb et est comptabilis\u00e9 en diminution des frais de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Recherche et D\u00e9veloppement dans la marge</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">op\u00e9rationnelle du Groupe au rythme o\u00f9 les co\u00fbts financ\u00e9s</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:140.48pt\">sont reconnus au compte de r\u00e9sultat.</span></div><div class=\"ps7252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:428.81pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche en France comptabilis\u00e9 au compte de r\u00e9sultat sur la p\u00e9riode au titre de l'exercice </span><span class=\"f charStyle-165dec60 ps30587\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30588\" style=\"width:34.65pt\"> s'\u00e9l\u00e8ve \u00e0</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps7253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:255.35pt\">42\u00a0millions d\u2019euros (contre 50 millions d\u2019euros au cours de l\u2019exercice </span><span class=\"f charStyle-165dec60 ps30589\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30590\" style=\"width:4.05pt\">).</span><span class=\"f charStyle-165dec60 ps30591\" style=\"width:1.96pt\"> </span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.2<span id=\"i9463f01b77d347a0991877ae1dfb775e\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30592\"><span style=\"display:inline-block;height:8.71pt;width:13.31pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres cr\u00e9ances</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances de Cr\u00e9dit d\u2019Imp\u00f4t Recherche ainsi que les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.97pt\">cr\u00e9dits de TVA peuvent faire l\u2019objet d\u2019une op\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps418\" style=\"width:1.8pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:42.78pt\">d\u2019escompte</span><span class=\"f charStyle-165dec60 ps30594\" style=\"width:175.16pt\"> et \u00eatre c\u00e9d\u00e9es \u00e0 des \u00e9tablissements</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bancaires. De mani\u00e8re analogue aux cr\u00e9ances clients, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:114.85pt\">financiers s\u2019appliquent. Une </span><span class=\"f charStyle-81993cb5 ps30595\" style=\"width:103.12pt\">analyse est alors conduite</span><span class=\"f charStyle-81993cb5 ps418\" style=\"width:1.87pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:153.6pt\">pour \u00e9valuer le transfert des risque</span><span class=\"f charStyle-165dec60 ps30596\" style=\"width:64.38pt\">s et avantages</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.82pt\">inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.91pt\">Si cet examen met en \u00e9vidence le transfert de la quasi-</span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:25.35pt\">totalit\u00e9</span><span class=\"f charStyle-165dec60 ps30599\" style=\"width:7.09pt\"> </span><span class=\"f charStyle-81f42323 ps4119\" style=\"width:185.49pt\">des risques et avantages, ces cr\u00e9ances sont</span><span class=\"f charStyle-81f42323 ps16299\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.63pt\">d\u00e9comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps30600\" style=\"width:7.33pt\"> </span><span class=\"f charStyle-49b0b1fa ps30601\" style=\"width:147pt\">de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:109.89pt\">consolid\u00e9e. Dans la situation</span><span class=\"f charStyle-165dec60 ps30602\" style=\"width:108.08pt\"> inverse, elles continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue pour</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:83.05pt\">le\u00a0montant escompt\u00e9.</span></div><div class=\"ps4019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:16.36pt\">Au </span><span class=\"f charStyle-165dec60 ps30603\" style=\"width:75.44pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30604\" style=\"width:137.47pt\">, les cr\u00e9ances de Cr\u00e9dit d'Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps4020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">Recherche de la France au titre des ann\u00e9es 2022, 2023, 2024</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">et 2025 ne\u00a0figurent plus dans l'\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:42.1pt\">consolid\u00e9e.</span></div><div class=\"ps30606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.08pt\">En effet, ces cr\u00e9ances ont fait l\u2019objet de cessions\u00a0:</span><span class=\"f charStyle-165dec60 ps30605\" style=\"width:1.96pt\"> </span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps626\" style=\"width:222.19pt\">le 16 d\u00e9cembre 2022 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps26829 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps626\" style=\"width:28.86pt\">d\u2019Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps30607\" style=\"width:93.08pt\"> Recherche 2022 pour </span><span class=\"f charStyle-165dec60 ps30608\" style=\"width:9.19pt\">45</span><span class=\"f charStyle-165dec60 ps19928\" style=\"width:91.07pt\"> millions d'euros et en</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:176.68pt\">juillet 2023 pour le reliquat de 1 million d'euros ;</span></div><div class=\"ps26830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">le 20 d\u00e9cembre 2023 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps15086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps626\" style=\"width:222.24pt\">d'Imp\u00f4t Recherche 2023 pour 53 millions d'euros et en juin</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps15087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps626\" style=\"width:18.13pt\">2024</span><span class=\"f charStyle-165dec60 ps158\" style=\"width:141.53pt\"> pour le reliquat de 3 millions d'euros ;</span></div><div class=\"ps4019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">le 19 d\u00e9cembre 2024 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">d'Imp\u00f4t Recherche 2024 pour 42 millions d'euros et en juin</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps4021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:162.75pt\">2025 pour le reliquat de 10 millions d\u2019euros ;</span></div><div class=\"ps26826 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">le 19 d\u00e9cembre 2025 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps30606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:185.05pt\">d'Imp\u00f4t Recherche 2025 pour 28 millions d'euros.</span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:14.57pt\">Au </span><span class=\"f charStyle-165dec60 ps30609\" style=\"width:71.86pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30610\" style=\"width:105.45pt\"> comme au 31 d\u00e9cembre </span><span class=\"f charStyle-165dec60 ps30611\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30612\" style=\"width:19.02pt\">, des</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26829 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">cr\u00e9ances au titre de cr\u00e9dits de TVA au Mexique ont fait</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps15084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">l'objet d'une cession et ne figurent plus dans l'\u00e9tat de la</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps13594 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">situation financi\u00e8re consolid\u00e9e ; celles-ci s\u2019\u00e9l\u00e8vent \u00e0 59</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps13595 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">millions d\u2019euros \u00e0 fin 2025 contre 14 millions d\u2019euros \u00e0 fin</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps13597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20pt\">2024.</span></div><div class=\"ps15088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Le co\u00fbt de ces cessions, comptabilis\u00e9 en co\u00fbt de</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps15090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:58.09pt\">l\u2019endettement </span><span class=\"f charStyle-d77d7991 ps30613\" style=\"width:106.72pt\">financier net sur l\u2019exercice </span><span class=\"f charStyle-d77d7991 ps30614\" style=\"width:17.5pt\">2025</span><span class=\"f charStyle-d77d7991 ps30615\" style=\"width:42.48pt\">, s'\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-d77d7991 ps30616\" style=\"width:4.51pt\">6</span><span class=\"f charStyle-d77d7991 ps449\" style=\"width:1.91pt\"> </span></div><div class=\"ps15092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:79.54pt\">millions d'euros pour </span><span class=\"f charStyle-165dec60 ps30617\" style=\"width:119.68pt\">le Groupe (5 millions d'euros en\u00a0</span><span class=\"f charStyle-165dec60 ps30618\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30619\" style=\"width:4.05pt\">).</span></div><div class=\"ps30621 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.3<span id=\"i22210b0c2cfe4101a0f1619a6177d5a3\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30620\"><span style=\"display:inline-block;height:8.71pt;width:13.3pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Entreprises associ\u00e9es et coentreprises</span></div><div class=\"ps30622 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.1<span id=\"i3a0cd2b6293d43de9baae091725610cd\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps17328\"><span style=\"display:inline-block;height:8.22pt;width:8.9pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Toutes les participations comptabilis\u00e9es selon la m\u00e9thode de la mise en \u00e9quivalence, qu\u2019il s\u2019agisse des coentreprises ou des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps2658 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">entreprises associ\u00e9es, s\u2019inscrivent dans le prolongement de l\u2019activit\u00e9 op\u00e9rationnelle du Groupe et sont rattach\u00e9es \u00e0 l'un de ses</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">trois secteurs op\u00e9rationnels. Elles sont int\u00e9gr\u00e9es dans le reporting interne du Groupe au sens de la norme IFRS\u00a08 et leur</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps2660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:368.81pt\">performance op\u00e9rationnelle est suivie au niveau de chaque Division \u00e0 laquelle elles appartiennent.</span></div><div class=\"ps30629 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.42pt\"></span></span><span class=\"ps30603\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.4pt\"></span></span><span class=\"ps19256\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Quote-part dans les r\u00e9sultats des coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.33pt\"></span></span><span class=\"ps28284\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Shanghai Valeo Automotive Electrical Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.99pt\"></span></span><span class=\"ps28391\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Faw-Valeo Climate Control Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-6bfccbf4 ps4503\">Dont Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-f573b8b5 ps10\">QUOTE-PART DANS LES R\u00c9SULTATS DES ENTREPRISES MISES EN \u00c9QUIVALENCE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.48pt\"></span></span><span class=\"ps30627\">(20)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.2<span id=\"i9b3405a938e14d96a66521a97ea4a3eb\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30630\"><span style=\"display:inline-block;height:8.22pt;width:7.22pt\"></span></span><span class=\"ps29285\">Participations dans les soci\u00e9t\u00e9s mises en \u00e9quivalence</span></span></div><div class=\"ps30632 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les entreprises associ\u00e9es<span id=\"i454fdff3cb1a40b4bda26c32ae43bf83\"></span></span></div><div class=\"ps6940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:341.01pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les entreprises associ\u00e9es\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30640 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 1</span><span class=\"f charStyle-f4bb8995 ps30633\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps20641\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Quote-part dans les r\u00e9sultats des entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.72pt\"></span></span><span class=\"ps30634\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.26pt\"></span></span><span class=\"ps18578\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">ENTREPRISES ASSOCI\u00c9ES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.1pt\"></span></span><span class=\"ps2622\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:271.59pt\">Les participations dans les entreprises associ\u00e9es sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Detroit Thermal Systems<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps26217\"></span><span class=\"ps26217\">49,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.91pt\"></span></span><span class=\"ps30645\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.94pt\"></span></span><span class=\"ps30646\">13<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres entreprises associ\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30647 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES ENTREPRISES ASSOCI\u00c9ES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.34pt\"></span></span><span class=\"ps30628\">21<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.88pt\"></span></span><span class=\"ps7626\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30648 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Participations dans les coentreprises<span id=\"i45a5d8663d924b43a3a64770174f4c10\"></span></span></div><div class=\"ps30649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:312.58pt\">L\u2019\u00e9volution du poste \u00ab\u00a0Participations dans les coentreprises\u00a0\u00bb s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30657 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 1</span><span class=\"f charStyle-f4bb8995 ps30650\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30651\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Quote-part dans les r\u00e9sultats des coentreprises</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.53pt\"></span></span><span class=\"ps30265\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Distribution de dividendes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Variations de p\u00e9rim\u00e8tre</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.7pt\"></span></span><span class=\"ps30654\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres mouvements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.07pt\"></span></span><span class=\"ps30655\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.69pt\"></span></span><span class=\"ps30656\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">COENTREPRISES AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.34pt\"></span></span><span class=\"ps28303\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">88<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:243.16pt\">Les participations dans les coentreprises sont d\u00e9taill\u00e9es ci-apr\u00e8s\u00a0:</span></div><div class=\"ps30667 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps20825\">Pourcentage d'int\u00e9r\u00eat</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps10993\">(en pourcentage)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss704\"><div><div class=\"ps27459 ss668\"><span class=\"f charStyle-98f46611 ps14432\">Valeur de mise en \u00e9quivalence</span></div><div class=\"ps4498 ss668\"><span class=\"f charStyle-a8abcdde ps30642\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30643 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27462 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27464 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27467 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps14288 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Shanghai Valeo Automotive Electrical <span class=\"f ps53\"> </span></span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-a696f64a ps10\">Systems Company Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30644 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27469 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps15237\"></span><span class=\"ps15237\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27470 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.38pt\"></span></span><span class=\"ps3134\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27472 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.39pt\"></span></span><span class=\"ps30658\">32<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23546 ss674\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-044fe383 ps10\">Fawer Valeo eAutomotive Parts </span></div><div class=\"ps516 ss666\"><span class=\"f charStyle-044fe383 ps10\">(Changshu)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30660 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30661 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30659\"></span><span class=\"ps30659\">49,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30662 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">19<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29320 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10289 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-2d4711d3 ps10\">Faw-Valeo Climate Control Systems Co. Ltd<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10328 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.66pt\"></span></span><span class=\"ps30664\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10329 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.55pt\"></span></span><span class=\"ps26141\">36,5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10330 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10331 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10332 ss673\"><div><div class=\"ps509 ss666\"><span class=\"f charStyle-a696f64a ps10\">Autres coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10333 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10334 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30665\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10335 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10336 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.75pt\"></span></span><span class=\"ps30663\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"2\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps9780 ss517\"><div><div class=\"ps509 ss516\"><span class=\"f charStyle-96b05324 ps10\">PARTICIPATIONS DANS LES COENTREPRISES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10339 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.09pt\"></span></span><span class=\"ps19757\">43<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10340 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.84pt\"></span></span><span class=\"ps30666\">88<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">En d\u00e9cembre 2025, Valeo a c\u00e9d\u00e9 sa participation minoritaire de 36,5 % dans la coentreprise Faw-Valeo Climate Control Systems</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:396.04pt\">Co. Ltd, op\u00e9rant en Chine. Dans ses \u00e9tats financiers consolid\u00e9s au 30 juin 2025, le Groupe avait d\u00e9pr\u00e9ci\u00e9 </span><span class=\"f charStyle-165dec60 ps20961\" style=\"width:85.3pt\">la valeur des titres mis</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30671 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:105.67pt\">en \u00e9quivalence de la soci\u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps30670\" style=\"width:327.38pt\"> sur la base du prix de cession pr\u00e9vu par le protocole d'accord relatif \u00e0 cette transaction.</span></div><div class=\"ps30674 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.3<span id=\"ib6cee7d98ba247f6ae704801ee6f6246\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30673\"><span style=\"display:inline-block;height:8.22pt;width:7.2pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Donn\u00e9es financi\u00e8res des soci\u00e9t\u00e9s mises en \u00e9quivalence</span></div><div class=\"ps19418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:210.89pt\">Les donn\u00e9es sont pr\u00e9sent\u00e9es \u00e0 100 % et en normes IFRS.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30675\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14152 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">Les donn\u00e9es des entreprises associ\u00e9es et des coentreprises mises en \u00e9quivalence sont pr\u00e9sent\u00e9es de mani\u00e8re agr\u00e9g\u00e9e en raison</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps14155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:238.53pt\">du\u00a0caract\u00e8re individuellement non significatif de chaque entit\u00e9.</span></div><div class=\"ps30676 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Entreprises associ\u00e9es<span id=\"ibb0a0fa5c5264555ba337f02de88043e\"></span></span></div><div class=\"ps5025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:295.35pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des entreprises associ\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30681 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.16pt\"></span></span><span class=\"ps27977\">38<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.26pt\"></span></span><span class=\"ps30677\">44<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.82pt\"></span></span><span class=\"ps30678\">68<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.97pt\"></span></span><span class=\"ps30679\">78<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.29pt\"></span></span><span class=\"ps30680\">(7)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.51pt\"></span></span><span class=\"ps23528\">(45)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.05pt\"></span></span><span class=\"ps20621\">(57)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30685 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.72pt\"></span></span><span class=\"ps2611\">287<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.02pt\"></span></span><span class=\"ps30682\">313<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.71pt\"></span></span><span class=\"ps30683\">(280)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.27pt\"></span></span><span class=\"ps30684\">(302)</span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">C<span id=\"i2491344f02b64580a8b4c047fe0dab9e\"></span></span><span class=\"f charStyle-aa33f529 ps30686\">oentreprises</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:266.92pt\">Les donn\u00e9es financi\u00e8res agr\u00e9g\u00e9es des coentreprises sont les suivantes\u00a0:</span></div><div class=\"ps30695 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps27733\">31\u00a0d\u00e9cembre 2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.83pt\"></span></span><span class=\"ps30687\">137<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.26pt\"></span></span><span class=\"ps30688\">150<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Actifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.79pt\"></span></span><span class=\"ps30689\">269<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.42pt\"></span></span><span class=\"ps30690\">306<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs non courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.5pt\"></span></span><span class=\"ps30691\">(24)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(25)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Passifs courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.54pt\"></span></span><span class=\"ps30693\">(315)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.28pt\"></span></span><span class=\"ps30694\">(324)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30699 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Chiffre d'affaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">519<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.66pt\"></span></span><span class=\"ps30696\">651<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges op\u00e9rationnelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.26pt\"></span></span><span class=\"ps30697\">(542)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.67pt\"></span></span><span class=\"ps30698\">(632)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.4<span id=\"id44eaf74946b42bebe1c013c73cd8b00\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30700\"><span style=\"display:inline-block;height:8.22pt;width:6.38pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Transactions avec les entreprises mises en \u00e9quivalence (parties li\u00e9es)</span></div><div class=\"ps30702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les comptes consolid\u00e9s incluent des op\u00e9rations effectu\u00e9es par le Groupe dans le cadre normal de ses activit\u00e9s avec les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:391.74pt\">entreprises associ\u00e9es et les coentreprises. Ces transactions se font \u00e0 des conditions normales de march\u00e9.</span></div><div class=\"ps30704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les entreprises associ\u00e9es<span id=\"ie435d98af34f4abba80f704d624da975\"></span></span></div><div class=\"ps30706 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.92pt\"></span></span><span class=\"ps883\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.91pt\"></span></span><span class=\"ps30705\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30709 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.5pt\"></span></span><span class=\"ps20357\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.69pt\"></span></span><span class=\"ps29563\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.05pt\"></span></span><span class=\"ps30708\">(41)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30710 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les coentreprises<span id=\"ia2247e92d8894838bfc50d8a3ac7fddf\"></span></span></div><div class=\"ps30716 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.8pt\"></span></span><span class=\"ps30711\">47<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.96pt\"></span></span><span class=\"ps28410\">42<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">(10)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.22pt\"></span></span><span class=\"ps23632\">(18)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30712 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30713 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.9pt\"></span></span><span class=\"ps30259\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30715 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.35pt\"></span></span><span class=\"ps30714\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30720 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.51pt\"></span></span><span class=\"ps30717\">112<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.55pt\"></span></span><span class=\"ps30718\">104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.59pt\"></span></span><span class=\"ps30719\">(71)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.6<span id=\"ie88e2f7d28e646809fd8c6ba49b9dfc1\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30721\"><span style=\"display:inline-block;height:10.16pt;width:26.85pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat op\u00e9rationnel et autres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30723 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.1<span id=\"i70a34b865be74202aae2d0df69cfd0a6\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">R\u00e9sultat op\u00e9rationnel<span class=\"f ps53\"> </span></span></div><div class=\"ps30726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:307.39pt\">Le r\u00e9sultat op\u00e9rationnel inclut l\u2019ensemble des produits et des charges autres que\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps26855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:319.44pt\">les produits et charges d\u2019int\u00e9r\u00eats\u00a0constitutifs du Co\u00fbt de l'endettement financier net ;</span></div><div class=\"ps30727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:152.98pt\">les autres produits et charges financiers\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:100.37pt\">les imp\u00f4ts sur les r\u00e9sultats.</span></div><div class=\"ps30732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:82.54pt\">Sur l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps30730\" style=\"width:69.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30731\" style=\"width:329.59pt\">, le r\u00e9sultat op\u00e9rationnel y compris la quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:72.21pt\">en\u00a0\u00e9quivalence est <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30733\" style=\"width:44.01pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30734\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps30735\" style=\"width:13.75pt\">789</span><span class=\"f charStyle-165dec60 ps30736\" style=\"width:91.01pt\"> millions d\u2019euros, contre </span><span class=\"f charStyle-165dec60 ps30737\" style=\"width:44.01pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30738\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps30739\" style=\"width:12.04pt\">618</span><span class=\"f charStyle-165dec60 ps30740\" style=\"width:74.46pt\"> millions d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30741\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30742\" style=\"width:1.59pt\">.</span></div><div class=\"ps30744 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.2<span id=\"i3cb3052ea63f40ab9a725a4dfada25bc\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps14013\"><span style=\"display:inline-block;height:8.71pt;width:12.93pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Au</span><span class=\"f charStyle-b11f9a65 ps19441\">tres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">Afin de faciliter la lecture du compte de r\u00e9sultat et de la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">performance du Groupe, les \u00e9l\u00e9ments inhabituels et</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:36.5pt\">significatif</span><span class=\"f charStyle-b5684510 ps17015\" style=\"width:181.46pt\">s \u00e0 l\u2019\u00e9chelle de l\u2019ensemble consolid\u00e9 sont identifi\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:52.75pt\">sur la ligne </span><span class=\"f charStyle-81f42323 ps30748\" style=\"width:165.22pt\">du r\u00e9sultat op\u00e9rationnel intitul\u00e9e \u00ab\u00a0Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:76.29pt\">produits et charges\u00a0\u00bb.</span></div><div class=\"ps30749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.12pt\">Cette ligne inclut principalement\u00a0:</span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">les plus ou moins-values et les frais de transactions et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:178.79pt\">li\u00e9s \u00e0 l\u2019\u00e9volution du p\u00e9rim\u00e8tre de consolidation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">les litiges majeurs qui ne naissent pas de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">op\u00e9rationnelle du Groupe (sont ainsi exclues les charges</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">relatives aux litiges li\u00e9s \u00e0 la qualit\u00e9 des produits vendus,</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:210.98pt\">aux clients, aux fournisseurs ou \u00e0 des pertes de contrat)\u00a0;</span></div><div class=\"ps30750 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:198.23pt\">les charges nettes li\u00e9es aux plans de restructuration\u00a0;</span></div><div class=\"ps15588 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">les pertes de valeur et reprises sur actifs immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">constat\u00e9es notamment dans le cadre des tests de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.04pt\">d\u00e9pr\u00e9ciations d</span><span class=\"f charStyle-49b0b1fa ps30751\" style=\"width:153.25pt\">es unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT)</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps15591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps26704\" style=\"width:23.92pt\">et des </span><span class=\"f charStyle-639cbf67 ps30752\" style=\"width:31.27pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30753\" style=\"width:1.47pt\">.</span></div><div class=\"ps17606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:63.43pt\">Sur les exercices </span><span class=\"f charStyle-165dec60 ps30755\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30756\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps27633\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30757\" style=\"width:229.73pt\">, les autres produits et charges se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps30765 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss517\"><div><div class=\"ps10243 ss516\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps28263\">Notes explicatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1859\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Plus ou moins-values et frais de transactions li\u00e9s </span></div><div class=\"ps748 ss516\"><span class=\"f charStyle-044fe383 ps10\">\u00e0\u00a0l'\u00e9volution\u00a0du\u00a0p\u00e9rim\u00e8tre de consolidation</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps8015 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps30758\">5.6.2.1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.08pt\"></span></span><span class=\"ps29220\">63<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Litiges<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28134\">5.6.2.2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67pt\"></span></span><span class=\"ps30759\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Plans de restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30760\">5.6.2.3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.9pt\"></span></span><span class=\"ps27736\">(156)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.98pt\"></span></span><span class=\"ps27871\">(305)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur sur actifs</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27480 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30761\">5.6.2.4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.88pt\"></span></span><span class=\"ps30762\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22743 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">AUTRES PRODUITS ET CHARGES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27487 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.2pt\"></span></span><span class=\"ps30763\">(168)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27490 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.03pt\"></span></span><span class=\"ps30764\">(313)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.1<span id=\"i41055b0d4bea477eb4c3b84dd17c200c\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Plus ou moins-values et frais </span></span></div><div class=\"ps30768 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">de\u00a0transactions\u00a0li\u00e9s \u00e0 l'\u00e9volution </span></div><div class=\"ps30769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">du\u00a0p\u00e9rim\u00e8tre\u00a0de\u00a0consolidation</span></div><div class=\"ps22301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Ce poste inclut le r\u00e9sultat des op\u00e9rations de cession</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps22302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.09pt\">pr\u00e9sent\u00e9es en note 3.2.1, page 392.</span><span class=\"f charStyle-165dec60 ps30770\" style=\"width:1.96pt\"> </span></div><div class=\"ps12882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Au 31 d\u00e9cembre 2024, ce poste incluait notamment la plus-</span></div><div class=\"ps12883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">value de 91 millions d'euros relative \u00e0 la cession de l'activit\u00e9</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">de Syst\u00e8mes thermiques v\u00e9hicules commerciaux finalis\u00e9e le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:47.27pt\">30 juin 2024.</span></div><div class=\"ps30772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.2<span id=\"i55af2552803c41aa9938dd2c1e8e83ca\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30771\"><span style=\"display:inline-block;height:8.22pt;width:6.88pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Litiges</span></div><div class=\"ps15261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Ce poste inclut les incidences et les frais des conseils</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">juridiques aff\u00e9rents li\u00e9es \u00e0 divers litiges rev\u00eatant un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps15263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">caract\u00e8re inhabituel de par leur nature, leur montant ou leur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.94pt\">ant\u00e9riorit\u00e9.</span></div><div class=\"ps30774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.3<span id=\"i6238a26fee9241e588291592e040f779\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30773\"><span style=\"display:inline-block;height:8.22pt;width:6.86pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Plans de restructuration</span></div><div class=\"ps30775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">En 2025, Valeo a poursuivi ses efforts pour all\u00e9ger sa</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">structure de co\u00fbts et r\u00e9aligner ses capacit\u00e9s de production \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30777 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">la demande de march\u00e9. Ces actions se sont traduites par la</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30497 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">mise en oeuvre de plans de restructuration principalement</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9122 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:188.73pt\">en France, en Allemagne et en Am\u00e9rique du Nord.</span></div><div class=\"ps21987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Les charges de restructuration constat\u00e9es au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">l\u2019exercice 2024 \u00e9taient principalement li\u00e9es au plan de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9organisation de la Division POWER, annonc\u00e9 au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:201.27pt\">l\u2019ann\u00e9e et dont la mise en oeuvre a continu\u00e9 en 2025. </span><span class=\"f charStyle-5f5146f2 ps30778\" style=\"width:2.07pt\"> </span></div><div class=\"ps7756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.19pt\">Ce poste inclut \u00e9galement</span><span class=\"f charStyle-81f42323 ps30780\" style=\"width:123.09pt\"> des charges li\u00e9es aux plans de</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:90.4pt\">pr\u00e9retraite en Allemagne</span><span class=\"f charStyle-165dec60 ps30781\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">5.6.2.4<span id=\"i2f567202da71418caefe989c317019f2\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2539\"><span style=\"display:inline-block;height:8.22pt;width:6.04pt\"></span></span></span><span class=\"f charStyle-9417a400 ps17462\">P</span><span class=\"f charStyle-9417a400 ps30783\">ertes de valeur sur actifs</span></div><div class=\"ps30786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:80.4pt\">Sur l'exercice clos au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps30784\" style=\"width:67.3pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30785\" style=\"width:81.58pt\">, les tests de perte de</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">valeur ont conduit \u00e0 la reprise de pertes de valeur \u00e0 hauteur de</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps30788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">6 millions d\u2019euros sur les actifs de l\u2019unit\u00e9 g\u00e9n\u00e9ratrice de</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps30790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:147.88pt\">tr\u00e9sorerie Commandes sous volant (cf. </span><span class=\"f charStyle-81f42323 ps30789\" style=\"width:81.43pt\">Note 7.4.2, page 420),</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps30791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">augmentant la valeur comptable de ces actifs \u00e0 la valeur qui</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">aurait \u00e9t\u00e9 d\u00e9termin\u00e9e (nette des amortissements) si aucune</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:146.63pt\">perte de valeur n\u2019avait \u00e9t\u00e9 comptabilis\u00e9e.</span></div><div class=\"ps30794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Au 31 d\u00e9cembre 2024, le Groupe avait comptabilis\u00e9 une</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.83pt\">perte </span><span class=\"f charStyle-81f42323 ps30795\" style=\"width:47.89pt\">de valeur de </span><span class=\"f charStyle-165dec60 ps30796\" style=\"width:158.57pt\">48 millions d'euros sur une relation client</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">reconnue dans le cadre de la prise de contr\u00f4le de Valeo</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">eAutomotive en 2022, afin de tenir compte de la r\u00e9vision des</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">avantages \u00e9conomiques futurs attendus d'un contrat avec</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.54pt\">un client.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-454": {
   "value": "<div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.1<span id=\"i31e402ab19cd4795ac03dd7182fa3f92\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30143\"><span style=\"display:inline-block;height:10.16pt;width:29.42pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Chiffre d\u2019affaires<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">Pour chaque projet automobile, les trois principales<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.15pt\">promesses<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30146\" style=\"width:178.84pt\"> faites par Valeo \u00e0 un constructeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:166.37pt\">g\u00e9n\u00e9ralement identifi\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u00e9veloppement Produit, qui comprend notamment la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">d\u00e9termination des sp\u00e9cificit\u00e9s techniques intrins\u00e8ques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">des pi\u00e8ces ainsi que celles li\u00e9es au processus de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:49.02pt\">production </span><span class=\"f charStyle-81f42323 ps30152\" style=\"width:163.28pt\">associ\u00e9. \u00c0 ce titre, cette promesse est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:88.71pt\">consid\u00e9r\u00e9e usuellement</span><span class=\"f charStyle-165dec60 ps30154\" style=\"width:123.58pt\"> comme li\u00e9e \u00e0 la promesse de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des pi\u00e8ces ; les \u00e9ventuelles contributions</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">client au titre du D\u00e9veloppement Produit sont donc</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">reconnues en chiffre d\u2019affaires lors de la\u00a0production en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.22pt\">s\u00e9rie, soit au fur et \u00e0 mesure que la promesse de livrer</span><span class=\"f charStyle-165dec60 ps30159\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">les pi\u00e8ces est remplie dans la limite de quatre ans. Cette<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:173.45pt\">conclusion g\u00e9n\u00e9rale ne pr\u00e9sage pas du </span><span class=\"f charStyle-81f42323 ps30162\" style=\"width:38.83pt\">traitement</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps30164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.29pt\">comptable \u00e0 appliquer en fonction des sp\u00e9cificit\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:193.14pt\">contractuelles et op\u00e9rationnelles de chaque projet\u00a0;</span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des outillages de production, tels que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">moules et les autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:86.71pt\">production des pi\u00e8ces\u00a0:</span></div><div class=\"ps30169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">pour certaines activit\u00e9s, la fourniture de moules peut</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">\u00eatre consid\u00e9r\u00e9e comme une promesse distincte au</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">regard de l\u2019analyse du transfert de contr\u00f4le effectu\u00e9e.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">Le chiffre d\u2019affaires est alors reconnu lors du d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:131.18pt\">de la production en s\u00e9rie du projet,<span class=\"f ps53\"> </span></span></div><div class=\"ps30174 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">la fourniture des autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">production des pi\u00e8ces est consid\u00e9r\u00e9e comme li\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30175 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">fourniture des pi\u00e8ces. Toute contribution re\u00e7ue \u00e0 ce<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">titre est donc diff\u00e9r\u00e9e et reconnue sur la dur\u00e9e de vie</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">industrielle du projet au fur et \u00e0 mesure que la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.42pt\">promesse de livrer les pi\u00e8ces est remplie dans la limite</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:53.38pt\">de quatre ans,<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps30180\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.49pt\">fourniture des pi\u00e8ces, dont le chiffre d\u2019affaires est</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.43pt\">constat\u00e9 au moment o\u00f9 le contr\u00f4le sur les pi\u00e8ces est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:176.48pt\">transf\u00e9r\u00e9 au client, soit en g\u00e9n\u00e9ral \u00e0 la livraison.</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00c0 ce titre, le chiffre d\u2019affaires inclut essentiellement les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">ventes de produits finis, ainsi que l\u2019ensemble des revenus</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sur outillages et les contributions clients sur les frais de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Recherche et D\u00e9veloppement et les prototypes. Il est</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">\u00e9valu\u00e9 \u00e0 la juste valeur de la contrepartie attendue, net</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">des rabais, remises et ristournes \u00e9ventuels et hors TVA et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">autres taxes. Le cas \u00e9ch\u00e9ant, lorsque le prix d\u2019un contrat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">fait l\u2019objet d\u2019une modification, l\u2019impact de cette r\u00e9vision</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">est allou\u00e9 aux obligations de performance sur lesquelles</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:92.97pt\">porte cette modification.</span><span class=\"f charStyle-165dec60 ps18267\" style=\"width:1.96pt\"> </span></div><div class=\"ps30182 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:6.19pt\">D</span><span class=\"f charStyle-81f42323 ps30181\" style=\"width:211.77pt\">ans le cadre de contrats sp\u00e9cifiques, l\u2019examen de la relation</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30183 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">avec le client final conduit Valeo \u00e0 consid\u00e9rer qu\u2019il agit en</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps30184 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">tant qu\u2019agent dans la mise \u00e0 disposition au client final de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">composants dits \u00ab\u00a0impos\u00e9s\u00a0\u00bb. \u00c0 ce titre, les transactions</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">dans lesquelles Valeo agit comme agent sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comptabilis\u00e9es pour leur montant net. Ce mod\u00e8le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30185 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9conomique concerne notamment l\u2019activit\u00e9 des modules</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30187 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.29pt\">face avant de la Division POWER.</span><span class=\"f charStyle-165dec60 ps30186\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Contractuellement, Valeo se voit g\u00e9n\u00e9ralement octroy\u00e9</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l'int\u00e9gralit\u00e9 des besoins d'un client pour la fourniture de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">pi\u00e8ces pour un projet sp\u00e9cifique. Tant qu\u2019un appel ferme</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">de volumes n\u2019a pas \u00e9t\u00e9 re\u00e7u du client, les volumes futurs</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30188 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">pr\u00e9visionnels ne peuvent pas \u00eatre inclus dans le carnet de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30189 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">commandes tel que d\u00e9fini par IFRS 15. La publication de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81f42323 ps6329\" style=\"width:19.94pt\">ette </span><span class=\"f charStyle-165dec60 ps30190\" style=\"width:193.81pt\">information n\u2019est donc pas consid\u00e9r\u00e9e comme</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17510 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:41.49pt\">pertinente.</span></div><div class=\"ps12380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:172.46pt\">Le chiffre d\u2019affaires du groupe Valeo s\u2019\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-165dec60 ps30192\" style=\"width:25.2pt\">20\u00a0903</span><span class=\"f charStyle-165dec60 ps30193\" style=\"width:31.67pt\"> millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:42.7pt\">d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30195\" style=\"width:31.65pt\">, contre </span><span class=\"f charStyle-165dec60 ps30196\" style=\"width:23.46pt\">21\u00a0492</span><span class=\"f charStyle-165dec60 ps9208\" style=\"width:77.62pt\"> millions d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30197\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30198\" style=\"width:17.75pt\">, soit</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:16.6pt\">une </span><span class=\"f charStyle-165dec60 ps30199\" style=\"width:23.36pt\">baisse</span><span class=\"f charStyle-165dec60 ps30200\" style=\"width:13.53pt\"> de </span><span class=\"f charStyle-165dec60 ps30201\" style=\"width:18.42pt\">2,7 %</span><span class=\"f charStyle-165dec60 ps30202\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps8260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">L\u2019\u00e9volution des taux de change a un effet d\u00e9favorable de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps8265 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">2,4\u00a0% principalement li\u00e9 \u00e0 l\u2019appr\u00e9ciation de l\u2019euro face au</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps8266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dollar am\u00e9ricain, au renminbi chinois et au won sud-cor\u00e9en.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30203 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Les variations de p\u00e9rim\u00e8tre ont un effet d\u00e9favorable de 0.8%</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">principalement li\u00e9 \u00e0 la cession intervenue au 30 juin 2024 de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps15313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">l\u2019activit\u00e9 Syst\u00e8mes thermiques v\u00e9hicules commerciaux et de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:189.11pt\">l\u2019activit\u00e9 PIAA, soci\u00e9t\u00e9 sp\u00e9cialis\u00e9e dans la </span><span class=\"f charStyle-1abed7d4 ps30204\" style=\"width:40.18pt\">fabrication</span><span class=\"f charStyle-1abed7d4 ps467\" style=\"width:1.93pt\"> </span></div><div class=\"ps15315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps448\" style=\"width:128.02pt\">d'\u00e9quipements innovants pour </span><span class=\"f charStyle-367d076b ps30205\" style=\"width:101.3pt\">l\u2019\u00e9clairage de v\u00e9hicule et</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps15316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:149.44pt\">rattach\u00e9e \u00e0 Valeo Service, en ao\u00fbt 2024</span><span class=\"f charStyle-bd02d35c ps30206\" style=\"width:1.39pt\">.</span><span class=\"f charStyle-165dec60 ps30207\" style=\"width:62.09pt\"> \u00c0 p\u00e9rim\u00e8tre et </span><span class=\"f charStyle-9c680f66 ps30208\" style=\"width:16.38pt\">taux</span><span class=\"f charStyle-9c680f66 ps449\" style=\"width:1.93pt\"> </span></div><div class=\"ps15317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:229.32pt\">de change constants, le chiffre d\u2019affaires consolid\u00e9 augmente</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.44pt\">de 0,5\u00a0% entre les exercices </span><span class=\"f charStyle-165dec60 ps30209\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30210\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps30211\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30212\" style=\"width:1.59pt\">.</span></div><div class=\"ps26901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.69pt\">Le chiffre d\u2019affaires se d\u00e9compose comme suit\u00a0:</span></div><div class=\"ps30218 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><span id=\"i2765b25b62fe401cb2411ffc354b8991_0-0-1-1-925878\"></span><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps18377\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Premi\u00e8re monte<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">17\u00a0301<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.03pt\"></span></span><span class=\"ps30214\">17\u00a0950<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">March\u00e9 du remplacement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.49pt\"></span></span><span class=\"ps30215\">2\u00a0135<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.59pt\"></span></span><span class=\"ps30135\">2\u00a0262<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Divers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.28pt\"></span></span><span class=\"ps30216\">1\u00a0467<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.21pt\"></span></span><span class=\"ps30217\">1\u00a0280<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CHIFFRE D'AFFAIRES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.55pt\"></span></span><span class=\"ps17235\">20\u00a0903<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.56pt\"></span></span><span class=\"ps30137\">21\u00a0492<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps27448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:229.32pt\">En 2025 comme en 2024, deux clients g\u00e9n\u00e8rent un chiffre</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps27449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:229.33pt\">d\u2019affaires sup\u00e9rieur \u00e0 10 %. La part respective de chacun de ces</span><span class=\"f charStyle-c8069515 ps412\" style=\"width:1.84pt\"> </span></div><div class=\"ps27450 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:126.71pt\">deux clients s\u2019\u00e9l\u00e8ve \u00e0 15 % et 13 % </span><span class=\"f charStyle-c8069515 ps30219\" style=\"width:102.51pt\">du chiffre d\u2019affaires total du</span><span class=\"f charStyle-c8069515 ps4806\" style=\"width:1.84pt\"> </span></div><div class=\"ps30221 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:27.42pt\">Groupe</span><span class=\"f charStyle-c8069515 ps30220\" style=\"width:201.84pt\">. Le poids de ces clients dans chacune des trois</span><span class=\"f charStyle-c8069515 ps410\" style=\"width:1.84pt\"> </span></div><div class=\"ps26699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:138.02pt\">Divisions est globalement homog\u00e8ne.</span></div><div class=\"ps5031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:229.31pt\">Les contributions clients sur les frais de Recherche et</span><span class=\"f charStyle-5064d44f ps418\" style=\"width:1.89pt\"> </span></div><div class=\"ps5032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:182.08pt\">D\u00e9veloppement et les prototypes s'\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-5064d44f ps30222\" style=\"width:13.77pt\">805</span><span class=\"f charStyle-5064d44f ps30223\" style=\"width:33.43pt\"> millions</span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> </span></div><div class=\"ps5033 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:85.28pt\">d'euros sur l'exercice </span><span class=\"f charStyle-5064d44f ps30224\" style=\"width:17.42pt\">2025</span><span class=\"f charStyle-165dec60 ps30225\" style=\"width:33.3pt\"> contre </span><span class=\"f charStyle-165dec60 ps30226\" style=\"width:11.48pt\">631</span><span class=\"f charStyle-165dec60 ps339\" style=\"width:81.83pt\"> millions d\u2019euros sur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:37.59pt\">l'exercice </span><span class=\"f charStyle-165dec60 ps14931\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30227\" style=\"width:173.24pt\">. Elles sont pr\u00e9sent\u00e9es sur la ligne \u00ab\u00a0Divers\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps5035 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Dans la plupart des cas, ces contributions sont reconnues en</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps5036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.24pt\">chiffre d\u2019affaires </span><span class=\"f charStyle-165dec60 ps30228\" style=\"width:162.05pt\">au cours de la\u00a0production en s\u00e9rie des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps5037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:62.97pt\">pi\u00e8ces associ\u00e9es.</span></div><div class=\"ps27448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:186.36pt\">Le chiffre d\u2019affaires du Groupe tient compte d\u2019</span><span class=\"f charStyle-165dec60 ps30229\" style=\"width:42.95pt\">indemnit\u00e9s</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps27449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">per\u00e7ues de clients notamment en lien avec des annulations</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps27450 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">de projets, des baisses de volumes significatives ou des fins</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30221 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:94.16pt\">de production anticip\u00e9s.</span><span class=\"f charStyle-165dec60 ps30230\" style=\"width:135.16pt\"> Dans le cas d\u2019annulations portant</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps26699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.35pt\">sur des projets </span><span class=\"f charStyle-165dec60 ps30231\" style=\"width:167.96pt\">dont la\u00a0production en s\u00e9rie n\u2019a pas encore</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26700 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:187.65pt\">d\u00e9marr\u00e9e, les indemnit\u00e9s per\u00e7ues de clients sont </span><span class=\"f charStyle-165dec60 ps30232\" style=\"width:41.63pt\">pr\u00e9sent\u00e9es</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.86pt\">sur la ligne \u00ab\u00a0Divers\u00a0\u00bb.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-453": {
   "value": "<div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.1<span id=\"i31e402ab19cd4795ac03dd7182fa3f92\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30143\"><span style=\"display:inline-block;height:10.16pt;width:29.42pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Chiffre d\u2019affaires<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">Pour chaque projet automobile, les trois principales<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.15pt\">promesses<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30146\" style=\"width:178.84pt\"> faites par Valeo \u00e0 un constructeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:166.37pt\">g\u00e9n\u00e9ralement identifi\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u00e9veloppement Produit, qui comprend notamment la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">d\u00e9termination des sp\u00e9cificit\u00e9s techniques intrins\u00e8ques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">des pi\u00e8ces ainsi que celles li\u00e9es au processus de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:49.02pt\">production </span><span class=\"f charStyle-81f42323 ps30152\" style=\"width:163.28pt\">associ\u00e9. \u00c0 ce titre, cette promesse est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:88.71pt\">consid\u00e9r\u00e9e usuellement</span><span class=\"f charStyle-165dec60 ps30154\" style=\"width:123.58pt\"> comme li\u00e9e \u00e0 la promesse de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des pi\u00e8ces ; les \u00e9ventuelles contributions</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">client au titre du D\u00e9veloppement Produit sont donc</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">reconnues en chiffre d\u2019affaires lors de la\u00a0production en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.22pt\">s\u00e9rie, soit au fur et \u00e0 mesure que la promesse de livrer</span><span class=\"f charStyle-165dec60 ps30159\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">les pi\u00e8ces est remplie dans la limite de quatre ans. Cette<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:173.45pt\">conclusion g\u00e9n\u00e9rale ne pr\u00e9sage pas du </span><span class=\"f charStyle-81f42323 ps30162\" style=\"width:38.83pt\">traitement</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps30164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.29pt\">comptable \u00e0 appliquer en fonction des sp\u00e9cificit\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:193.14pt\">contractuelles et op\u00e9rationnelles de chaque projet\u00a0;</span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des outillages de production, tels que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">moules et les autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:86.71pt\">production des pi\u00e8ces\u00a0:</span></div><div class=\"ps30169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">pour certaines activit\u00e9s, la fourniture de moules peut</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">\u00eatre consid\u00e9r\u00e9e comme une promesse distincte au</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">regard de l\u2019analyse du transfert de contr\u00f4le effectu\u00e9e.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">Le chiffre d\u2019affaires est alors reconnu lors du d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:131.18pt\">de la production en s\u00e9rie du projet,<span class=\"f ps53\"> </span></span></div><div class=\"ps30174 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">la fourniture des autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">production des pi\u00e8ces est consid\u00e9r\u00e9e comme li\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30175 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">fourniture des pi\u00e8ces. Toute contribution re\u00e7ue \u00e0 ce<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">titre est donc diff\u00e9r\u00e9e et reconnue sur la dur\u00e9e de vie</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">industrielle du projet au fur et \u00e0 mesure que la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.42pt\">promesse de livrer les pi\u00e8ces est remplie dans la limite</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:53.38pt\">de quatre ans,<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps30180\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.49pt\">fourniture des pi\u00e8ces, dont le chiffre d\u2019affaires est</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.43pt\">constat\u00e9 au moment o\u00f9 le contr\u00f4le sur les pi\u00e8ces est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:176.48pt\">transf\u00e9r\u00e9 au client, soit en g\u00e9n\u00e9ral \u00e0 la livraison.</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00c0 ce titre, le chiffre d\u2019affaires inclut essentiellement les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">ventes de produits finis, ainsi que l\u2019ensemble des revenus</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sur outillages et les contributions clients sur les frais de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Recherche et D\u00e9veloppement et les prototypes. Il est</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">\u00e9valu\u00e9 \u00e0 la juste valeur de la contrepartie attendue, net</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">des rabais, remises et ristournes \u00e9ventuels et hors TVA et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">autres taxes. Le cas \u00e9ch\u00e9ant, lorsque le prix d\u2019un contrat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">fait l\u2019objet d\u2019une modification, l\u2019impact de cette r\u00e9vision</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">est allou\u00e9 aux obligations de performance sur lesquelles</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:92.97pt\">porte cette modification.</span><span class=\"f charStyle-165dec60 ps18267\" style=\"width:1.96pt\"> </span></div><div class=\"ps30182 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:6.19pt\">D</span><span class=\"f charStyle-81f42323 ps30181\" style=\"width:211.77pt\">ans le cadre de contrats sp\u00e9cifiques, l\u2019examen de la relation</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30183 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">avec le client final conduit Valeo \u00e0 consid\u00e9rer qu\u2019il agit en</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps30184 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">tant qu\u2019agent dans la mise \u00e0 disposition au client final de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">composants dits \u00ab\u00a0impos\u00e9s\u00a0\u00bb. \u00c0 ce titre, les transactions</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">dans lesquelles Valeo agit comme agent sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comptabilis\u00e9es pour leur montant net. Ce mod\u00e8le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30185 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9conomique concerne notamment l\u2019activit\u00e9 des modules</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30187 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.29pt\">face avant de la Division POWER.</span><span class=\"f charStyle-165dec60 ps30186\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Contractuellement, Valeo se voit g\u00e9n\u00e9ralement octroy\u00e9</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l'int\u00e9gralit\u00e9 des besoins d'un client pour la fourniture de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">pi\u00e8ces pour un projet sp\u00e9cifique. Tant qu\u2019un appel ferme</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">de volumes n\u2019a pas \u00e9t\u00e9 re\u00e7u du client, les volumes futurs</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30188 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">pr\u00e9visionnels ne peuvent pas \u00eatre inclus dans le carnet de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30189 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">commandes tel que d\u00e9fini par IFRS 15. La publication de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81f42323 ps6329\" style=\"width:19.94pt\">ette </span><span class=\"f charStyle-165dec60 ps30190\" style=\"width:193.81pt\">information n\u2019est donc pas consid\u00e9r\u00e9e comme</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17510 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:41.49pt\">pertinente.</span></div><div class=\"ps12380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:172.46pt\">Le chiffre d\u2019affaires du groupe Valeo s\u2019\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-165dec60 ps30192\" style=\"width:25.2pt\">20\u00a0903</span><span class=\"f charStyle-165dec60 ps30193\" style=\"width:31.67pt\"> millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:42.7pt\">d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30195\" style=\"width:31.65pt\">, contre </span><span class=\"f charStyle-165dec60 ps30196\" style=\"width:23.46pt\">21\u00a0492</span><span class=\"f charStyle-165dec60 ps9208\" style=\"width:77.62pt\"> millions d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30197\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30198\" style=\"width:17.75pt\">, soit</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:16.6pt\">une </span><span class=\"f charStyle-165dec60 ps30199\" style=\"width:23.36pt\">baisse</span><span class=\"f charStyle-165dec60 ps30200\" style=\"width:13.53pt\"> de </span><span class=\"f charStyle-165dec60 ps30201\" style=\"width:18.42pt\">2,7 %</span><span class=\"f charStyle-165dec60 ps30202\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps8260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">L\u2019\u00e9volution des taux de change a un effet d\u00e9favorable de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps8265 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">2,4\u00a0% principalement li\u00e9 \u00e0 l\u2019appr\u00e9ciation de l\u2019euro face au</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps8266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dollar am\u00e9ricain, au renminbi chinois et au won sud-cor\u00e9en.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30203 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Les variations de p\u00e9rim\u00e8tre ont un effet d\u00e9favorable de 0.8%</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">principalement li\u00e9 \u00e0 la cession intervenue au 30 juin 2024 de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps15313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">l\u2019activit\u00e9 Syst\u00e8mes thermiques v\u00e9hicules commerciaux et de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:189.11pt\">l\u2019activit\u00e9 PIAA, soci\u00e9t\u00e9 sp\u00e9cialis\u00e9e dans la </span><span class=\"f charStyle-1abed7d4 ps30204\" style=\"width:40.18pt\">fabrication</span><span class=\"f charStyle-1abed7d4 ps467\" style=\"width:1.93pt\"> </span></div><div class=\"ps15315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps448\" style=\"width:128.02pt\">d'\u00e9quipements innovants pour </span><span class=\"f charStyle-367d076b ps30205\" style=\"width:101.3pt\">l\u2019\u00e9clairage de v\u00e9hicule et</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps15316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:149.44pt\">rattach\u00e9e \u00e0 Valeo Service, en ao\u00fbt 2024</span><span class=\"f charStyle-bd02d35c ps30206\" style=\"width:1.39pt\">.</span><span class=\"f charStyle-165dec60 ps30207\" style=\"width:62.09pt\"> \u00c0 p\u00e9rim\u00e8tre et </span><span class=\"f charStyle-9c680f66 ps30208\" style=\"width:16.38pt\">taux</span><span class=\"f charStyle-9c680f66 ps449\" style=\"width:1.93pt\"> </span></div><div class=\"ps15317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:229.32pt\">de change constants, le chiffre d\u2019affaires consolid\u00e9 augmente</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.44pt\">de 0,5\u00a0% entre les exercices </span><span class=\"f charStyle-165dec60 ps30209\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30210\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps30211\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30212\" style=\"width:1.59pt\">.</span></div><div class=\"ps26901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.69pt\">Le chiffre d\u2019affaires se d\u00e9compose comme suit\u00a0:</span></div><div class=\"ps30218 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><span id=\"i2765b25b62fe401cb2411ffc354b8991_0-0-1-1-925878\"></span><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps18377\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Premi\u00e8re monte<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">17\u00a0301<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.03pt\"></span></span><span class=\"ps30214\">17\u00a0950<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">March\u00e9 du remplacement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.49pt\"></span></span><span class=\"ps30215\">2\u00a0135<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.59pt\"></span></span><span class=\"ps30135\">2\u00a0262<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Divers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.28pt\"></span></span><span class=\"ps30216\">1\u00a0467<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.21pt\"></span></span><span class=\"ps30217\">1\u00a0280<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CHIFFRE D'AFFAIRES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.55pt\"></span></span><span class=\"ps17235\">20\u00a0903<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.56pt\"></span></span><span class=\"ps30137\">21\u00a0492<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps27448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:229.32pt\">En 2025 comme en 2024, deux clients g\u00e9n\u00e8rent un chiffre</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps27449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:229.33pt\">d\u2019affaires sup\u00e9rieur \u00e0 10 %. La part respective de chacun de ces</span><span class=\"f charStyle-c8069515 ps412\" style=\"width:1.84pt\"> </span></div><div class=\"ps27450 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:126.71pt\">deux clients s\u2019\u00e9l\u00e8ve \u00e0 15 % et 13 % </span><span class=\"f charStyle-c8069515 ps30219\" style=\"width:102.51pt\">du chiffre d\u2019affaires total du</span><span class=\"f charStyle-c8069515 ps4806\" style=\"width:1.84pt\"> </span></div><div class=\"ps30221 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:27.42pt\">Groupe</span><span class=\"f charStyle-c8069515 ps30220\" style=\"width:201.84pt\">. Le poids de ces clients dans chacune des trois</span><span class=\"f charStyle-c8069515 ps410\" style=\"width:1.84pt\"> </span></div><div class=\"ps26699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps275\" style=\"width:138.02pt\">Divisions est globalement homog\u00e8ne.</span></div><div class=\"ps5031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:229.31pt\">Les contributions clients sur les frais de Recherche et</span><span class=\"f charStyle-5064d44f ps418\" style=\"width:1.89pt\"> </span></div><div class=\"ps5032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:182.08pt\">D\u00e9veloppement et les prototypes s'\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-5064d44f ps30222\" style=\"width:13.77pt\">805</span><span class=\"f charStyle-5064d44f ps30223\" style=\"width:33.43pt\"> millions</span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> </span></div><div class=\"ps5033 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:85.28pt\">d'euros sur l'exercice </span><span class=\"f charStyle-5064d44f ps30224\" style=\"width:17.42pt\">2025</span><span class=\"f charStyle-165dec60 ps30225\" style=\"width:33.3pt\"> contre </span><span class=\"f charStyle-165dec60 ps30226\" style=\"width:11.48pt\">631</span><span class=\"f charStyle-165dec60 ps339\" style=\"width:81.83pt\"> millions d\u2019euros sur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:37.59pt\">l'exercice </span><span class=\"f charStyle-165dec60 ps14931\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30227\" style=\"width:173.24pt\">. Elles sont pr\u00e9sent\u00e9es sur la ligne \u00ab\u00a0Divers\u00a0\u00bb.</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps5035 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Dans la plupart des cas, ces contributions sont reconnues en</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps5036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.24pt\">chiffre d\u2019affaires </span><span class=\"f charStyle-165dec60 ps30228\" style=\"width:162.05pt\">au cours de la\u00a0production en s\u00e9rie des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps5037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:62.97pt\">pi\u00e8ces associ\u00e9es.</span></div><div class=\"ps27448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:186.36pt\">Le chiffre d\u2019affaires du Groupe tient compte d\u2019</span><span class=\"f charStyle-165dec60 ps30229\" style=\"width:42.95pt\">indemnit\u00e9s</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps27449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">per\u00e7ues de clients notamment en lien avec des annulations</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps27450 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">de projets, des baisses de volumes significatives ou des fins</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30221 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:94.16pt\">de production anticip\u00e9s.</span><span class=\"f charStyle-165dec60 ps30230\" style=\"width:135.16pt\"> Dans le cas d\u2019annulations portant</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps26699 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.35pt\">sur des projets </span><span class=\"f charStyle-165dec60 ps30231\" style=\"width:167.96pt\">dont la\u00a0production en s\u00e9rie n\u2019a pas encore</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26700 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:187.65pt\">d\u00e9marr\u00e9e, les indemnit\u00e9s per\u00e7ues de clients sont </span><span class=\"f charStyle-165dec60 ps30232\" style=\"width:41.63pt\">pr\u00e9sent\u00e9es</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.86pt\">sur la ligne \u00ab\u00a0Divers\u00a0\u00bb.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-455": {
   "value": "<div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">Pour chaque projet automobile, les trois principales<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.15pt\">promesses<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30146\" style=\"width:178.84pt\"> faites par Valeo \u00e0 un constructeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:166.37pt\">g\u00e9n\u00e9ralement identifi\u00e9es sont les suivantes\u00a0:</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u00e9veloppement Produit, qui comprend notamment la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">d\u00e9termination des sp\u00e9cificit\u00e9s techniques intrins\u00e8ques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">des pi\u00e8ces ainsi que celles li\u00e9es au processus de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:49.02pt\">production </span><span class=\"f charStyle-81f42323 ps30152\" style=\"width:163.28pt\">associ\u00e9. \u00c0 ce titre, cette promesse est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:88.71pt\">consid\u00e9r\u00e9e usuellement</span><span class=\"f charStyle-165dec60 ps30154\" style=\"width:123.58pt\"> comme li\u00e9e \u00e0 la promesse de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des pi\u00e8ces ; les \u00e9ventuelles contributions</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">client au titre du D\u00e9veloppement Produit sont donc</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">reconnues en chiffre d\u2019affaires lors de la\u00a0production en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.22pt\">s\u00e9rie, soit au fur et \u00e0 mesure que la promesse de livrer</span><span class=\"f charStyle-165dec60 ps30159\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">les pi\u00e8ces est remplie dans la limite de quatre ans. Cette<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:173.45pt\">conclusion g\u00e9n\u00e9rale ne pr\u00e9sage pas du </span><span class=\"f charStyle-81f42323 ps30162\" style=\"width:38.83pt\">traitement</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps30164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.29pt\">comptable \u00e0 appliquer en fonction des sp\u00e9cificit\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:193.14pt\">contractuelles et op\u00e9rationnelles de chaque projet\u00a0;</span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">fourniture des outillages de production, tels que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">moules et les autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:86.71pt\">production des pi\u00e8ces\u00a0:</span></div><div class=\"ps30169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">pour certaines activit\u00e9s, la fourniture de moules peut</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">\u00eatre consid\u00e9r\u00e9e comme une promesse distincte au</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.47pt\">regard de l\u2019analyse du transfert de contr\u00f4le effectu\u00e9e.</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">Le chiffre d\u2019affaires est alors reconnu lors du d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:131.18pt\">de la production en s\u00e9rie du projet,<span class=\"f ps53\"> </span></span></div><div class=\"ps30174 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps269\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.46pt\">la fourniture des autres \u00e9quipements utilis\u00e9s pour la</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">production des pi\u00e8ces est consid\u00e9r\u00e9e comme li\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30175 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.48pt\">fourniture des pi\u00e8ces. Toute contribution re\u00e7ue \u00e0 ce<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">titre est donc diff\u00e9r\u00e9e et reconnue sur la dur\u00e9e de vie</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.43pt\">industrielle du projet au fur et \u00e0 mesure que la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:209.42pt\">promesse de livrer les pi\u00e8ces est remplie dans la limite</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6589\" style=\"width:53.38pt\">de quatre ans,<span class=\"f ps53\"> </span></span></div><div class=\"ps30145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps30180\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.49pt\">fourniture des pi\u00e8ces, dont le chiffre d\u2019affaires est</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:209.43pt\">constat\u00e9 au moment o\u00f9 le contr\u00f4le sur les pi\u00e8ces est</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps981\" style=\"width:176.48pt\">transf\u00e9r\u00e9 au client, soit en g\u00e9n\u00e9ral \u00e0 la livraison.</span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00c0 ce titre, le chiffre d\u2019affaires inclut essentiellement les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">ventes de produits finis, ainsi que l\u2019ensemble des revenus</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sur outillages et les contributions clients sur les frais de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Recherche et D\u00e9veloppement et les prototypes. Il est</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">\u00e9valu\u00e9 \u00e0 la juste valeur de la contrepartie attendue, net</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps30156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">des rabais, remises et ristournes \u00e9ventuels et hors TVA et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30157 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">autres taxes. Le cas \u00e9ch\u00e9ant, lorsque le prix d\u2019un contrat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">fait l\u2019objet d\u2019une modification, l\u2019impact de cette r\u00e9vision</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">est allou\u00e9 aux obligations de performance sur lesquelles</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:92.97pt\">porte cette modification.</span><span class=\"f charStyle-165dec60 ps18267\" style=\"width:1.96pt\"> </span></div><div class=\"ps30182 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:6.19pt\">D</span><span class=\"f charStyle-81f42323 ps30181\" style=\"width:211.77pt\">ans le cadre de contrats sp\u00e9cifiques, l\u2019examen de la relation</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30183 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">avec le client final conduit Valeo \u00e0 consid\u00e9rer qu\u2019il agit en</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps30184 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">tant qu\u2019agent dans la mise \u00e0 disposition au client final de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">composants dits \u00ab\u00a0impos\u00e9s\u00a0\u00bb. \u00c0 ce titre, les transactions</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">dans lesquelles Valeo agit comme agent sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">comptabilis\u00e9es pour leur montant net. Ce mod\u00e8le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30185 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9conomique concerne notamment l\u2019activit\u00e9 des modules</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30187 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.29pt\">face avant de la Division POWER.</span><span class=\"f charStyle-165dec60 ps30186\" style=\"width:1.96pt\"> </span></div><div class=\"ps30171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Contractuellement, Valeo se voit g\u00e9n\u00e9ralement octroy\u00e9</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30172 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l'int\u00e9gralit\u00e9 des besoins d'un client pour la fourniture de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30173 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">pi\u00e8ces pour un projet sp\u00e9cifique. Tant qu\u2019un appel ferme</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">de volumes n\u2019a pas \u00e9t\u00e9 re\u00e7u du client, les volumes futurs</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30188 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">pr\u00e9visionnels ne peuvent pas \u00eatre inclus dans le carnet de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30189 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">commandes tel que d\u00e9fini par IFRS 15. La publication de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81f42323 ps6329\" style=\"width:19.94pt\">ette </span><span class=\"f charStyle-165dec60 ps30190\" style=\"width:193.81pt\">information n\u2019est donc pas consid\u00e9r\u00e9e comme</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17510 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:41.49pt\">pertinente.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-458": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.2<span id=\"i00cba70567854de89162357d5849508c\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30234\"><span style=\"display:inline-block;height:10.16pt;width:27.34pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Cr\u00e9ances clients<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances clients sont des actifs financiers courants,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initialement enregistr\u00e9es \u00e0 la juste valeur et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ult\u00e9rieurement au co\u00fbt amorti diminu\u00e9 des pertes de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">valeurs attendues. La juste valeur initiale des cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">clients est assimil\u00e9e \u00e0 leur valeur nominale compte tenu</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement inf\u00e9rieures \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.28pt\">trois\u00a0mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les cr\u00e9ances clients font l\u2019objet d\u2019une d\u00e9pr\u00e9ciation au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">titre des pertes attendues. Les deux m\u00e9thodes</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">d\u2019\u00e9valuation des pertes attendues utilis\u00e9es sont les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:39.04pt\">suivantes\u00a0:</span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.32pt\">\u00e9valuation des pertes attendues sur la base des pertes sur</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:83.8pt\">cr\u00e9ances historiques, </span><span class=\"f charStyle-165dec60 ps30236\" style=\"width:128.49pt\">de l\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019analyses de risque individuelles au niveau d\u2019une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:133.93pt\">cr\u00e9ance ou un groupe de cr\u00e9ances ;</span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9valuation sur la base de la notation de cr\u00e9dit des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:26.13pt\">clients.</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Elles sont comptabilis\u00e9es en r\u00e9sultat op\u00e9rationnel ou, si</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:19.13pt\">elles </span><span class=\"f charStyle-c709af45 ps30238\" style=\"width:198.81pt\">sont li\u00e9es \u00e0 un risque de cr\u00e9dit du d\u00e9biteur, en autres</span><span class=\"f charStyle-c709af45 ps610\" style=\"width:1.87pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:27.32pt\">produit</span><span class=\"f charStyle-165dec60 ps22018\" style=\"width:85.26pt\">s et charges financiers.</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Dans le cadre d\u2019op\u00e9rations r\u00e9currentes ou ponctuelles, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">cr\u00e9ances clients peuvent faire l\u2019objet d\u2019escompte et \u00eatre</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">c\u00e9d\u00e9es \u00e0 des \u00e9tablissements bancaires. Conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:17.24pt\">aux </span><span class=\"f charStyle-d77d7991 ps30243\" style=\"width:200.69pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-d77d7991 ps16299\" style=\"width:1.91pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:37.57pt\">financiers,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30244\" style=\"width:180.39pt\"> une analyse est alors men\u00e9e lors de ces</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">op\u00e9rations pour \u00e9valuer le transfert des risques et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">avantages inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">notamment celui du risque de cr\u00e9dit, du risque de retard</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">de paiement et du risque de dilution. Si cet examen met</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">en \u00e9vidence non seulement le transfert contractuel du</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:152.92pt\">droit \u00e0 recevoir les flux de tr\u00e9sorerie </span><span class=\"f charStyle-7cdffd50 ps30081\" style=\"width:65.01pt\">li\u00e9s aux cr\u00e9ances</span><span class=\"f charStyle-7cdffd50 ps16299\" style=\"width:1.77pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:217.95pt\">c\u00e9d\u00e9es, mais aussi celui de la quasi-totalit\u00e9 des risques et</span><span class=\"f charStyle-7cdffd50 ps16281\" style=\"width:1.77pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:208.33pt\">avantages, les cr\u00e9ances clients sont d\u00e9comptabilis\u00e9es </span><span class=\"f charStyle-165dec60 ps30245\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e et tous les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">droits cr\u00e9\u00e9s ou conserv\u00e9s lors du transfert sont reconnus,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.23pt\">le cas \u00e9ch\u00e9ant.</span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Dans la situation inverse, les cr\u00e9ances clients continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue \u00e0 hauteur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:86.63pt\">du montant escompt\u00e9.</span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">Les baisses de prix octroy\u00e9es en avance aux constructeurs</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:3.66pt\">s</span><span class=\"f charStyle-9206869b ps8949\" style=\"width:214.31pt\">ont comptabilis\u00e9es en actifs sur contrat au sein des</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:33.17pt\">cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps30250\" style=\"width:184.79pt\"> clients dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e lors de leur paiement. Elles sont ensuite</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps20651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">reconnues lin\u00e9airement au compte de r\u00e9sultat en</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">d\u00e9duction du chiffre d\u2019affaires \u00e0 compter de la date de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:138.76pt\">d\u00e9marrage de la production en s\u00e9rie.</span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:230.15pt\">Les cr\u00e9ances clients se d\u00e9composent de la mani\u00e8re suivante\u00a0:<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30253\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30258 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps27733\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-98f46611 ps30254\"> </span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Actifs sur contrat</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">251<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.88pt\"></span></span><span class=\"ps30068\">248<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances clients brutes </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">2\u00a0736<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.07pt\"></span></span><span class=\"ps30256\">2\u00a0437<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">D\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.48pt\"></span></span><span class=\"ps28395\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.59pt\"></span></span><span class=\"ps23876\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CR\u00c9ANCES CLIENTS NETTES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.92pt\"></span></span><span class=\"ps30257\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.92pt\"></span></span><span class=\"ps30257\">2\u00a0656<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:5.37pt\">A</span><span class=\"f charStyle-165dec60 ps18720\" style=\"width:8.47pt\">u </span><span class=\"f charStyle-165dec60 ps30259\" style=\"width:70.4pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps331\" style=\"width:397.06pt\">, le premier groupe automobile client de Valeo repr\u00e9sente 24\u00a0% des cr\u00e9ances clients (contre 14\u00a0% au</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29490 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps27793\" style=\"width:4.05pt\">).</span></div><div class=\"ps17426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:123.92pt\">Le d\u00e9lai de r\u00e8glement moyen au </span><span class=\"f charStyle-165dec60 ps30260\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30261\" style=\"width:128.15pt\"> est de 46\u00a0jours, contre 41 jours au </span><span class=\"f charStyle-165dec60 ps14638\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps30262\" style=\"width:1.59pt\">.</span></div><div class=\"ps30263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.56pt\">L\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances commerciales \u00e0 la date de la cl\u00f4ture s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30298 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:27.75pt\"></td><td style=\"padding:0;width:188.25pt\"></td><td style=\"padding:0;width:78.75pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1931\"><div><div class=\"ps10243 ss1239\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1932\"><div><div class=\"ps509 ss877\"><span class=\"f charStyle-6bef0edd ps30264\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30267 ss1933\"><div><div class=\"ps509 ss213\" style=\"font-size:12pt\"><span class=\"f charStyle-240a360a ps28758\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-240a360a ps30265\"> </span><span class=\"f charStyle-9f758b3b ps30266\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td rowspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss1934\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"></span><span class=\"ps10\">95,3 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30272 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Non \u00e9chues</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.4pt\"></span></span><span class=\"ps30273\">2\u00a0606<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30275 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.22pt\"></span></span><span class=\"ps30274\">2\u00a0294<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30277 ss1934\"><div><div class=\"ps30276 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30278 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps22475\"></span><span class=\"ps22475\">2,1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30279 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">\u00c9chues depuis moins d'un mois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30281 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.89pt\"></span></span><span class=\"ps30280\">59<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30282 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.68pt\"></span></span><span class=\"ps28062\">64<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30283 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdbfbd4c ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30284 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3517\"></span><span class=\"ps3517\">2,2 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30285 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-249bb638 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps4503\">\u00c9chues depuis plus d'un mois mais moins d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30287 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.17pt\"></span></span><span class=\"ps30286\">60<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30289 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.41pt\"></span></span><span class=\"ps30288\">63<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cbb4a92e ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps16788\"></span><span class=\"ps16788\">0,4 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30291 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">\u00c9chues depuis plus d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">11<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30295 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.93pt\"></span></span><span class=\"ps30294\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30296 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-ae6044e9 ps10\">CR\u00c9ANCES CLIENTS BRUTES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.29pt\"></span></span><span class=\"ps8311\">2\u00a0736<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30297 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.4pt\"></span></span><span class=\"ps12681\">2\u00a0437<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4734 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps30305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:70.9pt\">au 31 d\u00e9cembre 2024.</span></div><div class=\"ps26506 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:362.02pt\">Les montants des cr\u00e9ances clients brutes non \u00e9chues et \u00e9chues depuis moins d\u2019un mois au </span><span class=\"f charStyle-165dec60 ps30307\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps15820\" style=\"width:49.42pt\"> s\u2019\u00e9tablissent</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps26507 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:69.69pt\">respectivement \u00e0 </span><span class=\"f charStyle-165dec60 ps30308\" style=\"width:21.34pt\">2\u00a0606<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16009\" style=\"width:13.59pt\"> et </span><span class=\"f charStyle-165dec60 ps30309\" style=\"width:8.8pt\">59</span><span class=\"f charStyle-165dec60 ps30310\" style=\"width:84.06pt\"> millions d\u2019euros, soit </span><span class=\"f charStyle-165dec60 ps30311\" style=\"width:18.19pt\">97 %</span><span class=\"f charStyle-165dec60 ps30312\" style=\"width:182.97pt\"> du montant total des cr\u00e9ances clients brutes (</span><span class=\"f charStyle-165dec60 ps30313\" style=\"width:18.19pt\">97 %</span><span class=\"f charStyle-165dec60 ps30314\" style=\"width:15.48pt\"> au </span><span class=\"f charStyle-165dec60 ps30315\" style=\"width:48.85pt\">31\u00a0d\u00e9cembre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps26508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27949\" style=\"width:196.8pt\">). Les\u00a0cr\u00e9ances \u00e9chues sont d\u00e9pr\u00e9ci\u00e9es \u00e0 hauteur de <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30316\" style=\"width:6.92pt\">31</span><span class=\"f charStyle-165dec60 ps30317\" style=\"width:65.36pt\"> millions d\u2019euros (</span><span class=\"f charStyle-165dec60 ps30318\" style=\"width:8.81pt\">29</span><span class=\"f charStyle-165dec60 ps19958\" style=\"width:74.32pt\"> millions d\u2019euros au </span><span class=\"f charStyle-165dec60 ps30319\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps30320\" style=\"width:4.05pt\">).</span></div><div class=\"ps30323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:253.71pt\">Le montant des cr\u00e9ances c\u00e9d\u00e9es dont l\u2019\u00e9ch\u00e9ance est post\u00e9rieure au </span><span class=\"f charStyle-81f42323 ps30321\" style=\"width:66.26pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30322\" style=\"width:161.35pt\">, pour lesquelles la quasi-totalit\u00e9 des risques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:444.01pt\">et\u00a0avantages a \u00e9t\u00e9 transf\u00e9r\u00e9e et qui ne figurent donc plus \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re, se pr\u00e9sente comme suit :</span></div><div class=\"ps30337 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances c\u00e9d\u00e9es :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Op\u00e9rations de cession r\u00e9currentes</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.35pt\"></span></span><span class=\"ps28420\">261<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.82pt\"></span></span><span class=\"ps30326\">168<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Op\u00e9rations de cession non-r\u00e9currentes</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">61<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">152<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CR\u00c9ANCES CLIENTS C\u00c9D\u00c9ES <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.36pt\"></span></span><span class=\"ps30330\">322<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">320<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16833 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Co\u00fbt financier li\u00e9 \u00e0 ces op\u00e9rations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30334 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.21pt\"></span></span><span class=\"ps30333\">14<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30336 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.28pt\">En d\u00e9cembre 2024, le Groupe a sign\u00e9 un contrat-cadre avec</span><span class=\"f charStyle-d96cb356 ps610\" style=\"width:1.92pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.29pt\">une banque concernant la mise en place d'un programme de</span><span class=\"f charStyle-d96cb356 ps425\" style=\"width:1.92pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.3pt\">cessions r\u00e9currentes de cr\u00e9ances clients. Pour les filiales dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps608\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.32pt\">le p\u00e9rim\u00e8tre de ce programme, celui-ci pr\u00e9voit la cession</span><span class=\"f charStyle-d96cb356 ps431\" style=\"width:1.92pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.31pt\">syst\u00e9matique de l'ensemble des factures vis-\u00e0-vis d'une liste</span><span class=\"f charStyle-d96cb356 ps418\" style=\"width:1.92pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.31pt\">de d\u00e9biteurs pr\u00e9alablement approuv\u00e9s par la banque. Les</span><span class=\"f charStyle-d96cb356 ps418\" style=\"width:1.92pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">dispositions contractuelles de ce programme conduisent \u00e0</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.27pt\">d\u00e9comptabiliser les cr\u00e9ances c\u00e9d\u00e9es de l'\u00e9tat de la situation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps415\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">financi\u00e8re consolid\u00e9e. L'encours des cr\u00e9ances c\u00e9d\u00e9es dans le</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">cadre de ce programme est report\u00e9 au sein des \u00ab\u00a0Op\u00e9rations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:185.95pt\">de cession r\u00e9currentes\u00a0\u00bb dans le tableau ci-dessus.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Dans le cadre normal de ses activit\u00e9s op\u00e9rationnelles en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Chine, le groupe Valeo est amen\u00e9 \u00e0 \u00eatre pay\u00e9 par ses clients</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">ou \u00e0 payer ses fournisseurs par le biais d\u2019un moyen de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:209.06pt\">paiement sp\u00e9cifique au march\u00e9 chinois, appel\u00e9 </span><span class=\"f charStyle-e8054d08 ps30338\" style=\"width:20.22pt\">Bank</span><span class=\"f charStyle-e8054d08 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:68.66pt\">Acceptance Draft</span><span class=\"f charStyle-165dec60 ps30339\" style=\"width:160.63pt\">, qui se pr\u00e9sente sous forme d\u2019une traite</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">bancaire. De par leur nature, ces effets \u00e0 recevoir et \u00e0 payer</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">restent comptabilis\u00e9s au sein des cr\u00e9ances et dettes</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">commerciales jusqu'\u00e0 leur date d\u2019\u00e9ch\u00e9ance. Ils repr\u00e9sentent</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">183 millions d\u2019euros des cr\u00e9ances clients et 348 millions</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:140.12pt\">d\u2019euros des dettes fournisseurs au </span><span class=\"f charStyle-165dec60 ps30340\" style=\"width:71.54pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30341\" style=\"width:17.62pt\"> (135</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:155.49pt\">millions d\u2019euros des cr\u00e9ances clients et </span><span class=\"f charStyle-bd9dab06 ps30342\" style=\"width:73.78pt\">282 millions d\u2019euros</span><span class=\"f charStyle-bd9dab06 ps455\" style=\"width:1.81pt\"> </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:96.31pt\">des dettes fournisseurs au </span><span class=\"f charStyle-c709af45 ps30343\" style=\"width:66.73pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-bd9dab06 ps30344\" style=\"width:3.75pt\">).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-457": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.2<span id=\"i00cba70567854de89162357d5849508c\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30234\"><span style=\"display:inline-block;height:10.16pt;width:27.34pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Cr\u00e9ances clients<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances clients sont des actifs financiers courants,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initialement enregistr\u00e9es \u00e0 la juste valeur et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ult\u00e9rieurement au co\u00fbt amorti diminu\u00e9 des pertes de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">valeurs attendues. La juste valeur initiale des cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">clients est assimil\u00e9e \u00e0 leur valeur nominale compte tenu</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement inf\u00e9rieures \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.28pt\">trois\u00a0mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les cr\u00e9ances clients font l\u2019objet d\u2019une d\u00e9pr\u00e9ciation au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">titre des pertes attendues. Les deux m\u00e9thodes</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">d\u2019\u00e9valuation des pertes attendues utilis\u00e9es sont les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:39.04pt\">suivantes\u00a0:</span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.32pt\">\u00e9valuation des pertes attendues sur la base des pertes sur</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:83.8pt\">cr\u00e9ances historiques, </span><span class=\"f charStyle-165dec60 ps30236\" style=\"width:128.49pt\">de l\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019analyses de risque individuelles au niveau d\u2019une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:133.93pt\">cr\u00e9ance ou un groupe de cr\u00e9ances ;</span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9valuation sur la base de la notation de cr\u00e9dit des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:26.13pt\">clients.</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Elles sont comptabilis\u00e9es en r\u00e9sultat op\u00e9rationnel ou, si</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:19.13pt\">elles </span><span class=\"f charStyle-c709af45 ps30238\" style=\"width:198.81pt\">sont li\u00e9es \u00e0 un risque de cr\u00e9dit du d\u00e9biteur, en autres</span><span class=\"f charStyle-c709af45 ps610\" style=\"width:1.87pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:27.32pt\">produit</span><span class=\"f charStyle-165dec60 ps22018\" style=\"width:85.26pt\">s et charges financiers.</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Dans le cadre d\u2019op\u00e9rations r\u00e9currentes ou ponctuelles, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">cr\u00e9ances clients peuvent faire l\u2019objet d\u2019escompte et \u00eatre</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">c\u00e9d\u00e9es \u00e0 des \u00e9tablissements bancaires. Conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:17.24pt\">aux </span><span class=\"f charStyle-d77d7991 ps30243\" style=\"width:200.69pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-d77d7991 ps16299\" style=\"width:1.91pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:37.57pt\">financiers,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30244\" style=\"width:180.39pt\"> une analyse est alors men\u00e9e lors de ces</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">op\u00e9rations pour \u00e9valuer le transfert des risques et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">avantages inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">notamment celui du risque de cr\u00e9dit, du risque de retard</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">de paiement et du risque de dilution. Si cet examen met</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">en \u00e9vidence non seulement le transfert contractuel du</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:152.92pt\">droit \u00e0 recevoir les flux de tr\u00e9sorerie </span><span class=\"f charStyle-7cdffd50 ps30081\" style=\"width:65.01pt\">li\u00e9s aux cr\u00e9ances</span><span class=\"f charStyle-7cdffd50 ps16299\" style=\"width:1.77pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:217.95pt\">c\u00e9d\u00e9es, mais aussi celui de la quasi-totalit\u00e9 des risques et</span><span class=\"f charStyle-7cdffd50 ps16281\" style=\"width:1.77pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:208.33pt\">avantages, les cr\u00e9ances clients sont d\u00e9comptabilis\u00e9es </span><span class=\"f charStyle-165dec60 ps30245\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e et tous les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">droits cr\u00e9\u00e9s ou conserv\u00e9s lors du transfert sont reconnus,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.23pt\">le cas \u00e9ch\u00e9ant.</span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Dans la situation inverse, les cr\u00e9ances clients continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue \u00e0 hauteur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:86.63pt\">du montant escompt\u00e9.</span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">Les baisses de prix octroy\u00e9es en avance aux constructeurs</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:3.66pt\">s</span><span class=\"f charStyle-9206869b ps8949\" style=\"width:214.31pt\">ont comptabilis\u00e9es en actifs sur contrat au sein des</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:33.17pt\">cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps30250\" style=\"width:184.79pt\"> clients dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e lors de leur paiement. Elles sont ensuite</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps20651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">reconnues lin\u00e9airement au compte de r\u00e9sultat en</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">d\u00e9duction du chiffre d\u2019affaires \u00e0 compter de la date de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:138.76pt\">d\u00e9marrage de la production en s\u00e9rie.</span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:230.15pt\">Les cr\u00e9ances clients se d\u00e9composent de la mani\u00e8re suivante\u00a0:<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30253\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30258 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps27733\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-98f46611 ps30254\"> </span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Actifs sur contrat</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">251<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.88pt\"></span></span><span class=\"ps30068\">248<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances clients brutes </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">2\u00a0736<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.07pt\"></span></span><span class=\"ps30256\">2\u00a0437<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">D\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.48pt\"></span></span><span class=\"ps28395\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.59pt\"></span></span><span class=\"ps23876\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CR\u00c9ANCES CLIENTS NETTES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.92pt\"></span></span><span class=\"ps30257\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.92pt\"></span></span><span class=\"ps30257\">2\u00a0656<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:5.37pt\">A</span><span class=\"f charStyle-165dec60 ps18720\" style=\"width:8.47pt\">u </span><span class=\"f charStyle-165dec60 ps30259\" style=\"width:70.4pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps331\" style=\"width:397.06pt\">, le premier groupe automobile client de Valeo repr\u00e9sente 24\u00a0% des cr\u00e9ances clients (contre 14\u00a0% au</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29490 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps27793\" style=\"width:4.05pt\">).</span></div><div class=\"ps17426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:123.92pt\">Le d\u00e9lai de r\u00e8glement moyen au </span><span class=\"f charStyle-165dec60 ps30260\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30261\" style=\"width:128.15pt\"> est de 46\u00a0jours, contre 41 jours au </span><span class=\"f charStyle-165dec60 ps14638\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps30262\" style=\"width:1.59pt\">.</span></div><div class=\"ps30263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.56pt\">L\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances commerciales \u00e0 la date de la cl\u00f4ture s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30298 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:27.75pt\"></td><td style=\"padding:0;width:188.25pt\"></td><td style=\"padding:0;width:78.75pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1931\"><div><div class=\"ps10243 ss1239\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1932\"><div><div class=\"ps509 ss877\"><span class=\"f charStyle-6bef0edd ps30264\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30267 ss1933\"><div><div class=\"ps509 ss213\" style=\"font-size:12pt\"><span class=\"f charStyle-240a360a ps28758\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-240a360a ps30265\"> </span><span class=\"f charStyle-9f758b3b ps30266\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td rowspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss1934\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"></span><span class=\"ps10\">95,3 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30272 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Non \u00e9chues</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.4pt\"></span></span><span class=\"ps30273\">2\u00a0606<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30275 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.22pt\"></span></span><span class=\"ps30274\">2\u00a0294<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30277 ss1934\"><div><div class=\"ps30276 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30278 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps22475\"></span><span class=\"ps22475\">2,1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30279 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">\u00c9chues depuis moins d'un mois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30281 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.89pt\"></span></span><span class=\"ps30280\">59<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30282 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.68pt\"></span></span><span class=\"ps28062\">64<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30283 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdbfbd4c ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30284 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3517\"></span><span class=\"ps3517\">2,2 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30285 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-249bb638 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps4503\">\u00c9chues depuis plus d'un mois mais moins d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30287 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.17pt\"></span></span><span class=\"ps30286\">60<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30289 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.41pt\"></span></span><span class=\"ps30288\">63<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cbb4a92e ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps16788\"></span><span class=\"ps16788\">0,4 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30291 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">\u00c9chues depuis plus d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">11<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30295 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.93pt\"></span></span><span class=\"ps30294\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30296 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-ae6044e9 ps10\">CR\u00c9ANCES CLIENTS BRUTES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.29pt\"></span></span><span class=\"ps8311\">2\u00a0736<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30297 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.4pt\"></span></span><span class=\"ps12681\">2\u00a0437<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4734 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps30305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:70.9pt\">au 31 d\u00e9cembre 2024.</span></div><div class=\"ps26506 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:362.02pt\">Les montants des cr\u00e9ances clients brutes non \u00e9chues et \u00e9chues depuis moins d\u2019un mois au </span><span class=\"f charStyle-165dec60 ps30307\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps15820\" style=\"width:49.42pt\"> s\u2019\u00e9tablissent</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps26507 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:69.69pt\">respectivement \u00e0 </span><span class=\"f charStyle-165dec60 ps30308\" style=\"width:21.34pt\">2\u00a0606<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16009\" style=\"width:13.59pt\"> et </span><span class=\"f charStyle-165dec60 ps30309\" style=\"width:8.8pt\">59</span><span class=\"f charStyle-165dec60 ps30310\" style=\"width:84.06pt\"> millions d\u2019euros, soit </span><span class=\"f charStyle-165dec60 ps30311\" style=\"width:18.19pt\">97 %</span><span class=\"f charStyle-165dec60 ps30312\" style=\"width:182.97pt\"> du montant total des cr\u00e9ances clients brutes (</span><span class=\"f charStyle-165dec60 ps30313\" style=\"width:18.19pt\">97 %</span><span class=\"f charStyle-165dec60 ps30314\" style=\"width:15.48pt\"> au </span><span class=\"f charStyle-165dec60 ps30315\" style=\"width:48.85pt\">31\u00a0d\u00e9cembre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps26508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27949\" style=\"width:196.8pt\">). Les\u00a0cr\u00e9ances \u00e9chues sont d\u00e9pr\u00e9ci\u00e9es \u00e0 hauteur de <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30316\" style=\"width:6.92pt\">31</span><span class=\"f charStyle-165dec60 ps30317\" style=\"width:65.36pt\"> millions d\u2019euros (</span><span class=\"f charStyle-165dec60 ps30318\" style=\"width:8.81pt\">29</span><span class=\"f charStyle-165dec60 ps19958\" style=\"width:74.32pt\"> millions d\u2019euros au </span><span class=\"f charStyle-165dec60 ps30319\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps30320\" style=\"width:4.05pt\">).</span></div><div class=\"ps30323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:253.71pt\">Le montant des cr\u00e9ances c\u00e9d\u00e9es dont l\u2019\u00e9ch\u00e9ance est post\u00e9rieure au </span><span class=\"f charStyle-81f42323 ps30321\" style=\"width:66.26pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30322\" style=\"width:161.35pt\">, pour lesquelles la quasi-totalit\u00e9 des risques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:444.01pt\">et\u00a0avantages a \u00e9t\u00e9 transf\u00e9r\u00e9e et qui ne figurent donc plus \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re, se pr\u00e9sente comme suit :</span></div><div class=\"ps30337 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances c\u00e9d\u00e9es :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Op\u00e9rations de cession r\u00e9currentes</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.35pt\"></span></span><span class=\"ps28420\">261<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.82pt\"></span></span><span class=\"ps30326\">168<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Op\u00e9rations de cession non-r\u00e9currentes</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">61<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">152<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CR\u00c9ANCES CLIENTS C\u00c9D\u00c9ES <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.36pt\"></span></span><span class=\"ps30330\">322<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">320<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16833 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Co\u00fbt financier li\u00e9 \u00e0 ces op\u00e9rations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30334 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.21pt\"></span></span><span class=\"ps30333\">14<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30336 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.28pt\">En d\u00e9cembre 2024, le Groupe a sign\u00e9 un contrat-cadre avec</span><span class=\"f charStyle-d96cb356 ps610\" style=\"width:1.92pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.29pt\">une banque concernant la mise en place d'un programme de</span><span class=\"f charStyle-d96cb356 ps425\" style=\"width:1.92pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.3pt\">cessions r\u00e9currentes de cr\u00e9ances clients. Pour les filiales dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps608\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.32pt\">le p\u00e9rim\u00e8tre de ce programme, celui-ci pr\u00e9voit la cession</span><span class=\"f charStyle-d96cb356 ps431\" style=\"width:1.92pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.31pt\">syst\u00e9matique de l'ensemble des factures vis-\u00e0-vis d'une liste</span><span class=\"f charStyle-d96cb356 ps418\" style=\"width:1.92pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.31pt\">de d\u00e9biteurs pr\u00e9alablement approuv\u00e9s par la banque. Les</span><span class=\"f charStyle-d96cb356 ps418\" style=\"width:1.92pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">dispositions contractuelles de ce programme conduisent \u00e0</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.27pt\">d\u00e9comptabiliser les cr\u00e9ances c\u00e9d\u00e9es de l'\u00e9tat de la situation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps415\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">financi\u00e8re consolid\u00e9e. L'encours des cr\u00e9ances c\u00e9d\u00e9es dans le</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">cadre de ce programme est report\u00e9 au sein des \u00ab\u00a0Op\u00e9rations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:185.95pt\">de cession r\u00e9currentes\u00a0\u00bb dans le tableau ci-dessus.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Dans le cadre normal de ses activit\u00e9s op\u00e9rationnelles en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Chine, le groupe Valeo est amen\u00e9 \u00e0 \u00eatre pay\u00e9 par ses clients</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">ou \u00e0 payer ses fournisseurs par le biais d\u2019un moyen de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:209.06pt\">paiement sp\u00e9cifique au march\u00e9 chinois, appel\u00e9 </span><span class=\"f charStyle-e8054d08 ps30338\" style=\"width:20.22pt\">Bank</span><span class=\"f charStyle-e8054d08 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:68.66pt\">Acceptance Draft</span><span class=\"f charStyle-165dec60 ps30339\" style=\"width:160.63pt\">, qui se pr\u00e9sente sous forme d\u2019une traite</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">bancaire. De par leur nature, ces effets \u00e0 recevoir et \u00e0 payer</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">restent comptabilis\u00e9s au sein des cr\u00e9ances et dettes</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">commerciales jusqu'\u00e0 leur date d\u2019\u00e9ch\u00e9ance. Ils repr\u00e9sentent</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">183 millions d\u2019euros des cr\u00e9ances clients et 348 millions</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:140.12pt\">d\u2019euros des dettes fournisseurs au </span><span class=\"f charStyle-165dec60 ps30340\" style=\"width:71.54pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30341\" style=\"width:17.62pt\"> (135</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:155.49pt\">millions d\u2019euros des cr\u00e9ances clients et </span><span class=\"f charStyle-bd9dab06 ps30342\" style=\"width:73.78pt\">282 millions d\u2019euros</span><span class=\"f charStyle-bd9dab06 ps455\" style=\"width:1.81pt\"> </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:96.31pt\">des dettes fournisseurs au </span><span class=\"f charStyle-c709af45 ps30343\" style=\"width:66.73pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-bd9dab06 ps30344\" style=\"width:3.75pt\">).</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.5<span id=\"i8958087fa6d34bad9debe10caf97dc41\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps27028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.27pt\">Les placements long terme s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34814\" style=\"width:44.29pt\">272 millions</span><span class=\"f charStyle-165dec60 ps34815\" style=\"width:19.92pt\"> \u00e0 fin </span><span class=\"f charStyle-165dec60 ps34816\" style=\"width:58.58pt\">d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps17656\" style=\"width:101.7pt\"> et ont \u00e9volu\u00e9 comme suit\u00a0:</span></div><div class=\"ps34821 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 1</span><span class=\"f charStyle-f4bb8995 ps34817\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps34818\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">321<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en capitaux propres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les fonds communs de placement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.56pt\"></span></span><span class=\"ps34819\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:334.22pt\">Ils sont principalement compos\u00e9s des titres de participations dans les soci\u00e9t\u00e9s suivantes\u00a0:</span></div><div class=\"ps34830 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.45pt\"></span></span><span class=\"ps34823\">52<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine II<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.46pt\"></span></span><span class=\"ps34825\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">41<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund II (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund III (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Iris Capital<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.28pt\"></span></span><span class=\"ps34827\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.74pt\"></span></span><span class=\"ps28147\">24<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aledia</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Autres placements long terme\u00a0</span><span class=\"f charStyle-4da12822 ps34828\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.14pt\"></span></span><span class=\"ps34829\">56<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:466.99pt\">Autres participations dans des fonds d\u2019investissement et des soci\u00e9t\u00e9s sur lesquelles Valeo n\u2019exerce ni contr\u00f4le ni influence notable dont la</span><span class=\"f charStyle-776a1ec6 ps1288\" style=\"width:1.7pt\"> </span></div><div class=\"ps34832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:168.03pt\">valeur individuelle n'exc\u00e8de pas 20 millions d\u2019euros.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-456": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.2<span id=\"i00cba70567854de89162357d5849508c\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30234\"><span style=\"display:inline-block;height:10.16pt;width:27.34pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Cr\u00e9ances clients<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances clients sont des actifs financiers courants,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initialement enregistr\u00e9es \u00e0 la juste valeur et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ult\u00e9rieurement au co\u00fbt amorti diminu\u00e9 des pertes de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">valeurs attendues. La juste valeur initiale des cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">clients est assimil\u00e9e \u00e0 leur valeur nominale compte tenu</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement inf\u00e9rieures \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.28pt\">trois\u00a0mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les cr\u00e9ances clients font l\u2019objet d\u2019une d\u00e9pr\u00e9ciation au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">titre des pertes attendues. Les deux m\u00e9thodes</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">d\u2019\u00e9valuation des pertes attendues utilis\u00e9es sont les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:39.04pt\">suivantes\u00a0:</span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.32pt\">\u00e9valuation des pertes attendues sur la base des pertes sur</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:83.8pt\">cr\u00e9ances historiques, </span><span class=\"f charStyle-165dec60 ps30236\" style=\"width:128.49pt\">de l\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019analyses de risque individuelles au niveau d\u2019une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:133.93pt\">cr\u00e9ance ou un groupe de cr\u00e9ances ;</span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9valuation sur la base de la notation de cr\u00e9dit des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:26.13pt\">clients.</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Elles sont comptabilis\u00e9es en r\u00e9sultat op\u00e9rationnel ou, si</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:19.13pt\">elles </span><span class=\"f charStyle-c709af45 ps30238\" style=\"width:198.81pt\">sont li\u00e9es \u00e0 un risque de cr\u00e9dit du d\u00e9biteur, en autres</span><span class=\"f charStyle-c709af45 ps610\" style=\"width:1.87pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:27.32pt\">produit</span><span class=\"f charStyle-165dec60 ps22018\" style=\"width:85.26pt\">s et charges financiers.</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Dans le cadre d\u2019op\u00e9rations r\u00e9currentes ou ponctuelles, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">cr\u00e9ances clients peuvent faire l\u2019objet d\u2019escompte et \u00eatre</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">c\u00e9d\u00e9es \u00e0 des \u00e9tablissements bancaires. Conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:17.24pt\">aux </span><span class=\"f charStyle-d77d7991 ps30243\" style=\"width:200.69pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-d77d7991 ps16299\" style=\"width:1.91pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:37.57pt\">financiers,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30244\" style=\"width:180.39pt\"> une analyse est alors men\u00e9e lors de ces</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">op\u00e9rations pour \u00e9valuer le transfert des risques et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">avantages inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">notamment celui du risque de cr\u00e9dit, du risque de retard</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">de paiement et du risque de dilution. Si cet examen met</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">en \u00e9vidence non seulement le transfert contractuel du</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:152.92pt\">droit \u00e0 recevoir les flux de tr\u00e9sorerie </span><span class=\"f charStyle-7cdffd50 ps30081\" style=\"width:65.01pt\">li\u00e9s aux cr\u00e9ances</span><span class=\"f charStyle-7cdffd50 ps16299\" style=\"width:1.77pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:217.95pt\">c\u00e9d\u00e9es, mais aussi celui de la quasi-totalit\u00e9 des risques et</span><span class=\"f charStyle-7cdffd50 ps16281\" style=\"width:1.77pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:208.33pt\">avantages, les cr\u00e9ances clients sont d\u00e9comptabilis\u00e9es </span><span class=\"f charStyle-165dec60 ps30245\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e et tous les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">droits cr\u00e9\u00e9s ou conserv\u00e9s lors du transfert sont reconnus,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.23pt\">le cas \u00e9ch\u00e9ant.</span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Dans la situation inverse, les cr\u00e9ances clients continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue \u00e0 hauteur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:86.63pt\">du montant escompt\u00e9.</span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">Les baisses de prix octroy\u00e9es en avance aux constructeurs</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:3.66pt\">s</span><span class=\"f charStyle-9206869b ps8949\" style=\"width:214.31pt\">ont comptabilis\u00e9es en actifs sur contrat au sein des</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:33.17pt\">cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps30250\" style=\"width:184.79pt\"> clients dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e lors de leur paiement. Elles sont ensuite</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps20651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">reconnues lin\u00e9airement au compte de r\u00e9sultat en</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">d\u00e9duction du chiffre d\u2019affaires \u00e0 compter de la date de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:138.76pt\">d\u00e9marrage de la production en s\u00e9rie.</span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:230.15pt\">Les cr\u00e9ances clients se d\u00e9composent de la mani\u00e8re suivante\u00a0:<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30253\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30258 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps27733\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-98f46611 ps30254\"> </span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Actifs sur contrat</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">251<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.88pt\"></span></span><span class=\"ps30068\">248<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances clients brutes </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">2\u00a0736<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.07pt\"></span></span><span class=\"ps30256\">2\u00a0437<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">D\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.48pt\"></span></span><span class=\"ps28395\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.59pt\"></span></span><span class=\"ps23876\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CR\u00c9ANCES CLIENTS NETTES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.92pt\"></span></span><span class=\"ps30257\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.92pt\"></span></span><span class=\"ps30257\">2\u00a0656<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:5.37pt\">A</span><span class=\"f charStyle-165dec60 ps18720\" style=\"width:8.47pt\">u </span><span class=\"f charStyle-165dec60 ps30259\" style=\"width:70.4pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps331\" style=\"width:397.06pt\">, le premier groupe automobile client de Valeo repr\u00e9sente 24\u00a0% des cr\u00e9ances clients (contre 14\u00a0% au</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps29490 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps27793\" style=\"width:4.05pt\">).</span></div><div class=\"ps17426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:123.92pt\">Le d\u00e9lai de r\u00e8glement moyen au </span><span class=\"f charStyle-165dec60 ps30260\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30261\" style=\"width:128.15pt\"> est de 46\u00a0jours, contre 41 jours au </span><span class=\"f charStyle-165dec60 ps14638\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps30262\" style=\"width:1.59pt\">.</span></div><div class=\"ps30263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.56pt\">L\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances commerciales \u00e0 la date de la cl\u00f4ture s\u2019analyse comme suit\u00a0:</span></div><div class=\"ps30298 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:27.75pt\"></td><td style=\"padding:0;width:188.25pt\"></td><td style=\"padding:0;width:78.75pt\"></td><td style=\"padding:0;width:83.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1931\"><div><div class=\"ps10243 ss1239\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1932\"><div><div class=\"ps509 ss877\"><span class=\"f charStyle-6bef0edd ps30264\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30267 ss1933\"><div><div class=\"ps509 ss213\" style=\"font-size:12pt\"><span class=\"f charStyle-240a360a ps28758\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-240a360a ps30265\"> </span><span class=\"f charStyle-9f758b3b ps30266\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td rowspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss1934\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"></span><span class=\"ps10\">95,3 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30272 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Non \u00e9chues</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.4pt\"></span></span><span class=\"ps30273\">2\u00a0606<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30275 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.22pt\"></span></span><span class=\"ps30274\">2\u00a0294<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30277 ss1934\"><div><div class=\"ps30276 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30278 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps22475\"></span><span class=\"ps22475\">2,1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30279 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">\u00c9chues depuis moins d'un mois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30281 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.89pt\"></span></span><span class=\"ps30280\">59<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30282 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.68pt\"></span></span><span class=\"ps28062\">64<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30283 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdbfbd4c ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30284 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps3517\"></span><span class=\"ps3517\">2,2 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30285 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-249bb638 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps4503\">\u00c9chues depuis plus d'un mois mais moins d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30287 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.17pt\"></span></span><span class=\"ps30286\">60<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30289 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.41pt\"></span></span><span class=\"ps30288\">63<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cbb4a92e ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps16788\"></span><span class=\"ps16788\">0,4 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30291 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">\u00c9chues depuis plus d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">11<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30295 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.93pt\"></span></span><span class=\"ps30294\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30296 ss1936\"><div><div class=\"ps17246 ss1155\"><span class=\"f charStyle-ae6044e9 ps10\">CR\u00c9ANCES CLIENTS BRUTES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss1937\"><div><div class=\"ps17246 ss877\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.29pt\"></span></span><span class=\"ps8311\">2\u00a0736<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30297 ss236\"><div><div class=\"ps17246 ss213\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.4pt\"></span></span><span class=\"ps12681\">2\u00a0437<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4734 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps30305 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:70.9pt\">au 31 d\u00e9cembre 2024.</span></div><div class=\"ps26506 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:362.02pt\">Les montants des cr\u00e9ances clients brutes non \u00e9chues et \u00e9chues depuis moins d\u2019un mois au </span><span class=\"f charStyle-165dec60 ps30307\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps15820\" style=\"width:49.42pt\"> s\u2019\u00e9tablissent</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps26507 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:69.69pt\">respectivement \u00e0 </span><span class=\"f charStyle-165dec60 ps30308\" style=\"width:21.34pt\">2\u00a0606<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16009\" style=\"width:13.59pt\"> et </span><span class=\"f charStyle-165dec60 ps30309\" style=\"width:8.8pt\">59</span><span class=\"f charStyle-165dec60 ps30310\" style=\"width:84.06pt\"> millions d\u2019euros, soit </span><span class=\"f charStyle-165dec60 ps30311\" style=\"width:18.19pt\">97 %</span><span class=\"f charStyle-165dec60 ps30312\" style=\"width:182.97pt\"> du montant total des cr\u00e9ances clients brutes (</span><span class=\"f charStyle-165dec60 ps30313\" style=\"width:18.19pt\">97 %</span><span class=\"f charStyle-165dec60 ps30314\" style=\"width:15.48pt\"> au </span><span class=\"f charStyle-165dec60 ps30315\" style=\"width:48.85pt\">31\u00a0d\u00e9cembre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps26508 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27949\" style=\"width:196.8pt\">). Les\u00a0cr\u00e9ances \u00e9chues sont d\u00e9pr\u00e9ci\u00e9es \u00e0 hauteur de <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30316\" style=\"width:6.92pt\">31</span><span class=\"f charStyle-165dec60 ps30317\" style=\"width:65.36pt\"> millions d\u2019euros (</span><span class=\"f charStyle-165dec60 ps30318\" style=\"width:8.81pt\">29</span><span class=\"f charStyle-165dec60 ps19958\" style=\"width:74.32pt\"> millions d\u2019euros au </span><span class=\"f charStyle-165dec60 ps30319\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps30320\" style=\"width:4.05pt\">).</span></div><div class=\"ps30323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:253.71pt\">Le montant des cr\u00e9ances c\u00e9d\u00e9es dont l\u2019\u00e9ch\u00e9ance est post\u00e9rieure au </span><span class=\"f charStyle-81f42323 ps30321\" style=\"width:66.26pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30322\" style=\"width:161.35pt\">, pour lesquelles la quasi-totalit\u00e9 des risques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:444.01pt\">et\u00a0avantages a \u00e9t\u00e9 transf\u00e9r\u00e9e et qui ne figurent donc plus \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re, se pr\u00e9sente comme suit :</span></div><div class=\"ps30337 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances c\u00e9d\u00e9es :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Op\u00e9rations de cession r\u00e9currentes</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.35pt\"></span></span><span class=\"ps28420\">261<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.82pt\"></span></span><span class=\"ps30326\">168<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Op\u00e9rations de cession non-r\u00e9currentes</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">61<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">152<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-96b05324 ps10\">CR\u00c9ANCES CLIENTS C\u00c9D\u00c9ES <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.36pt\"></span></span><span class=\"ps30330\">322<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">320<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16833 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Co\u00fbt financier li\u00e9 \u00e0 ces op\u00e9rations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30334 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.21pt\"></span></span><span class=\"ps30333\">14<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30336 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.28pt\">En d\u00e9cembre 2024, le Groupe a sign\u00e9 un contrat-cadre avec</span><span class=\"f charStyle-d96cb356 ps610\" style=\"width:1.92pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.29pt\">une banque concernant la mise en place d'un programme de</span><span class=\"f charStyle-d96cb356 ps425\" style=\"width:1.92pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.3pt\">cessions r\u00e9currentes de cr\u00e9ances clients. Pour les filiales dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps608\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.32pt\">le p\u00e9rim\u00e8tre de ce programme, celui-ci pr\u00e9voit la cession</span><span class=\"f charStyle-d96cb356 ps431\" style=\"width:1.92pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.31pt\">syst\u00e9matique de l'ensemble des factures vis-\u00e0-vis d'une liste</span><span class=\"f charStyle-d96cb356 ps418\" style=\"width:1.92pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.31pt\">de d\u00e9biteurs pr\u00e9alablement approuv\u00e9s par la banque. Les</span><span class=\"f charStyle-d96cb356 ps418\" style=\"width:1.92pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">dispositions contractuelles de ce programme conduisent \u00e0</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.27pt\">d\u00e9comptabiliser les cr\u00e9ances c\u00e9d\u00e9es de l'\u00e9tat de la situation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps415\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">financi\u00e8re consolid\u00e9e. L'encours des cr\u00e9ances c\u00e9d\u00e9es dans le</span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.33pt\">cadre de ce programme est report\u00e9 au sein des \u00ab\u00a0Op\u00e9rations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps412\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:185.95pt\">de cession r\u00e9currentes\u00a0\u00bb dans le tableau ci-dessus.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Dans le cadre normal de ses activit\u00e9s op\u00e9rationnelles en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Chine, le groupe Valeo est amen\u00e9 \u00e0 \u00eatre pay\u00e9 par ses clients</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">ou \u00e0 payer ses fournisseurs par le biais d\u2019un moyen de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:209.06pt\">paiement sp\u00e9cifique au march\u00e9 chinois, appel\u00e9 </span><span class=\"f charStyle-e8054d08 ps30338\" style=\"width:20.22pt\">Bank</span><span class=\"f charStyle-e8054d08 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:68.66pt\">Acceptance Draft</span><span class=\"f charStyle-165dec60 ps30339\" style=\"width:160.63pt\">, qui se pr\u00e9sente sous forme d\u2019une traite</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">bancaire. De par leur nature, ces effets \u00e0 recevoir et \u00e0 payer</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">restent comptabilis\u00e9s au sein des cr\u00e9ances et dettes</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">commerciales jusqu'\u00e0 leur date d\u2019\u00e9ch\u00e9ance. Ils repr\u00e9sentent</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">183 millions d\u2019euros des cr\u00e9ances clients et 348 millions</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:140.12pt\">d\u2019euros des dettes fournisseurs au </span><span class=\"f charStyle-165dec60 ps30340\" style=\"width:71.54pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30341\" style=\"width:17.62pt\"> (135</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:155.49pt\">millions d\u2019euros des cr\u00e9ances clients et </span><span class=\"f charStyle-bd9dab06 ps30342\" style=\"width:73.78pt\">282 millions d\u2019euros</span><span class=\"f charStyle-bd9dab06 ps455\" style=\"width:1.81pt\"> </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:96.31pt\">des dettes fournisseurs au </span><span class=\"f charStyle-c709af45 ps30343\" style=\"width:66.73pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-bd9dab06 ps30344\" style=\"width:3.75pt\">).</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.2<span id=\"i9463f01b77d347a0991877ae1dfb775e\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30592\"><span style=\"display:inline-block;height:8.71pt;width:13.31pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres cr\u00e9ances</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances de Cr\u00e9dit d\u2019Imp\u00f4t Recherche ainsi que les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.97pt\">cr\u00e9dits de TVA peuvent faire l\u2019objet d\u2019une op\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps418\" style=\"width:1.8pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:42.78pt\">d\u2019escompte</span><span class=\"f charStyle-165dec60 ps30594\" style=\"width:175.16pt\"> et \u00eatre c\u00e9d\u00e9es \u00e0 des \u00e9tablissements</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bancaires. De mani\u00e8re analogue aux cr\u00e9ances clients, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:114.85pt\">financiers s\u2019appliquent. Une </span><span class=\"f charStyle-81993cb5 ps30595\" style=\"width:103.12pt\">analyse est alors conduite</span><span class=\"f charStyle-81993cb5 ps418\" style=\"width:1.87pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:153.6pt\">pour \u00e9valuer le transfert des risque</span><span class=\"f charStyle-165dec60 ps30596\" style=\"width:64.38pt\">s et avantages</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.82pt\">inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.91pt\">Si cet examen met en \u00e9vidence le transfert de la quasi-</span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:25.35pt\">totalit\u00e9</span><span class=\"f charStyle-165dec60 ps30599\" style=\"width:7.09pt\"> </span><span class=\"f charStyle-81f42323 ps4119\" style=\"width:185.49pt\">des risques et avantages, ces cr\u00e9ances sont</span><span class=\"f charStyle-81f42323 ps16299\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.63pt\">d\u00e9comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps30600\" style=\"width:7.33pt\"> </span><span class=\"f charStyle-49b0b1fa ps30601\" style=\"width:147pt\">de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:109.89pt\">consolid\u00e9e. Dans la situation</span><span class=\"f charStyle-165dec60 ps30602\" style=\"width:108.08pt\"> inverse, elles continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue pour</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:83.05pt\">le\u00a0montant escompt\u00e9.</span></div><div class=\"ps4019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:16.36pt\">Au </span><span class=\"f charStyle-165dec60 ps30603\" style=\"width:75.44pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30604\" style=\"width:137.47pt\">, les cr\u00e9ances de Cr\u00e9dit d'Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps4020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">Recherche de la France au titre des ann\u00e9es 2022, 2023, 2024</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">et 2025 ne\u00a0figurent plus dans l'\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:42.1pt\">consolid\u00e9e.</span></div><div class=\"ps30606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.08pt\">En effet, ces cr\u00e9ances ont fait l\u2019objet de cessions\u00a0:</span><span class=\"f charStyle-165dec60 ps30605\" style=\"width:1.96pt\"> </span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps626\" style=\"width:222.19pt\">le 16 d\u00e9cembre 2022 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps26829 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps626\" style=\"width:28.86pt\">d\u2019Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps30607\" style=\"width:93.08pt\"> Recherche 2022 pour </span><span class=\"f charStyle-165dec60 ps30608\" style=\"width:9.19pt\">45</span><span class=\"f charStyle-165dec60 ps19928\" style=\"width:91.07pt\"> millions d'euros et en</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:176.68pt\">juillet 2023 pour le reliquat de 1 million d'euros ;</span></div><div class=\"ps26830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">le 20 d\u00e9cembre 2023 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps15086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps626\" style=\"width:222.24pt\">d'Imp\u00f4t Recherche 2023 pour 53 millions d'euros et en juin</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps15087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps626\" style=\"width:18.13pt\">2024</span><span class=\"f charStyle-165dec60 ps158\" style=\"width:141.53pt\"> pour le reliquat de 3 millions d'euros ;</span></div><div class=\"ps4019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">le 19 d\u00e9cembre 2024 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">d'Imp\u00f4t Recherche 2024 pour 42 millions d'euros et en juin</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps4021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:162.75pt\">2025 pour le reliquat de 10 millions d\u2019euros ;</span></div><div class=\"ps26826 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">le 19 d\u00e9cembre 2025 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps30606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:185.05pt\">d'Imp\u00f4t Recherche 2025 pour 28 millions d'euros.</span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:14.57pt\">Au </span><span class=\"f charStyle-165dec60 ps30609\" style=\"width:71.86pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30610\" style=\"width:105.45pt\"> comme au 31 d\u00e9cembre </span><span class=\"f charStyle-165dec60 ps30611\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30612\" style=\"width:19.02pt\">, des</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26829 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">cr\u00e9ances au titre de cr\u00e9dits de TVA au Mexique ont fait</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps15084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">l'objet d'une cession et ne figurent plus dans l'\u00e9tat de la</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps13594 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">situation financi\u00e8re consolid\u00e9e ; celles-ci s\u2019\u00e9l\u00e8vent \u00e0 59</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps13595 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">millions d\u2019euros \u00e0 fin 2025 contre 14 millions d\u2019euros \u00e0 fin</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps13597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20pt\">2024.</span></div><div class=\"ps15088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Le co\u00fbt de ces cessions, comptabilis\u00e9 en co\u00fbt de</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps15090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:58.09pt\">l\u2019endettement </span><span class=\"f charStyle-d77d7991 ps30613\" style=\"width:106.72pt\">financier net sur l\u2019exercice </span><span class=\"f charStyle-d77d7991 ps30614\" style=\"width:17.5pt\">2025</span><span class=\"f charStyle-d77d7991 ps30615\" style=\"width:42.48pt\">, s'\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-d77d7991 ps30616\" style=\"width:4.51pt\">6</span><span class=\"f charStyle-d77d7991 ps449\" style=\"width:1.91pt\"> </span></div><div class=\"ps15092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:79.54pt\">millions d'euros pour </span><span class=\"f charStyle-165dec60 ps30617\" style=\"width:119.68pt\">le Groupe (5 millions d'euros en\u00a0</span><span class=\"f charStyle-165dec60 ps30618\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30619\" style=\"width:4.05pt\">).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-460": {
   "value": "<div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances clients sont des actifs financiers courants,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initialement enregistr\u00e9es \u00e0 la juste valeur et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ult\u00e9rieurement au co\u00fbt amorti diminu\u00e9 des pertes de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">valeurs attendues. La juste valeur initiale des cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">clients est assimil\u00e9e \u00e0 leur valeur nominale compte tenu</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement inf\u00e9rieures \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.28pt\">trois\u00a0mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les cr\u00e9ances clients font l\u2019objet d\u2019une d\u00e9pr\u00e9ciation au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">titre des pertes attendues. Les deux m\u00e9thodes</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">d\u2019\u00e9valuation des pertes attendues utilis\u00e9es sont les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:39.04pt\">suivantes\u00a0:</span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.32pt\">\u00e9valuation des pertes attendues sur la base des pertes sur</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:83.8pt\">cr\u00e9ances historiques, </span><span class=\"f charStyle-165dec60 ps30236\" style=\"width:128.49pt\">de l\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019analyses de risque individuelles au niveau d\u2019une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:133.93pt\">cr\u00e9ance ou un groupe de cr\u00e9ances ;</span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9valuation sur la base de la notation de cr\u00e9dit des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:26.13pt\">clients.</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Elles sont comptabilis\u00e9es en r\u00e9sultat op\u00e9rationnel ou, si</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:19.13pt\">elles </span><span class=\"f charStyle-c709af45 ps30238\" style=\"width:198.81pt\">sont li\u00e9es \u00e0 un risque de cr\u00e9dit du d\u00e9biteur, en autres</span><span class=\"f charStyle-c709af45 ps610\" style=\"width:1.87pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:27.32pt\">produit</span><span class=\"f charStyle-165dec60 ps22018\" style=\"width:85.26pt\">s et charges financiers.</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Dans le cadre d\u2019op\u00e9rations r\u00e9currentes ou ponctuelles, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">cr\u00e9ances clients peuvent faire l\u2019objet d\u2019escompte et \u00eatre</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">c\u00e9d\u00e9es \u00e0 des \u00e9tablissements bancaires. Conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:17.24pt\">aux </span><span class=\"f charStyle-d77d7991 ps30243\" style=\"width:200.69pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-d77d7991 ps16299\" style=\"width:1.91pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:37.57pt\">financiers,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30244\" style=\"width:180.39pt\"> une analyse est alors men\u00e9e lors de ces</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">op\u00e9rations pour \u00e9valuer le transfert des risques et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">avantages inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">notamment celui du risque de cr\u00e9dit, du risque de retard</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">de paiement et du risque de dilution. Si cet examen met</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">en \u00e9vidence non seulement le transfert contractuel du</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:152.92pt\">droit \u00e0 recevoir les flux de tr\u00e9sorerie </span><span class=\"f charStyle-7cdffd50 ps30081\" style=\"width:65.01pt\">li\u00e9s aux cr\u00e9ances</span><span class=\"f charStyle-7cdffd50 ps16299\" style=\"width:1.77pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:217.95pt\">c\u00e9d\u00e9es, mais aussi celui de la quasi-totalit\u00e9 des risques et</span><span class=\"f charStyle-7cdffd50 ps16281\" style=\"width:1.77pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:208.33pt\">avantages, les cr\u00e9ances clients sont d\u00e9comptabilis\u00e9es </span><span class=\"f charStyle-165dec60 ps30245\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e et tous les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">droits cr\u00e9\u00e9s ou conserv\u00e9s lors du transfert sont reconnus,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.23pt\">le cas \u00e9ch\u00e9ant.</span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Dans la situation inverse, les cr\u00e9ances clients continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue \u00e0 hauteur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:86.63pt\">du montant escompt\u00e9.</span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">Les baisses de prix octroy\u00e9es en avance aux constructeurs</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:3.66pt\">s</span><span class=\"f charStyle-9206869b ps8949\" style=\"width:214.31pt\">ont comptabilis\u00e9es en actifs sur contrat au sein des</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:33.17pt\">cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps30250\" style=\"width:184.79pt\"> clients dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e lors de leur paiement. Elles sont ensuite</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps20651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">reconnues lin\u00e9airement au compte de r\u00e9sultat en</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">d\u00e9duction du chiffre d\u2019affaires \u00e0 compter de la date de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:138.76pt\">d\u00e9marrage de la production en s\u00e9rie.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances de Cr\u00e9dit d\u2019Imp\u00f4t Recherche ainsi que les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.97pt\">cr\u00e9dits de TVA peuvent faire l\u2019objet d\u2019une op\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps418\" style=\"width:1.8pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:42.78pt\">d\u2019escompte</span><span class=\"f charStyle-165dec60 ps30594\" style=\"width:175.16pt\"> et \u00eatre c\u00e9d\u00e9es \u00e0 des \u00e9tablissements</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bancaires. De mani\u00e8re analogue aux cr\u00e9ances clients, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:114.85pt\">financiers s\u2019appliquent. Une </span><span class=\"f charStyle-81993cb5 ps30595\" style=\"width:103.12pt\">analyse est alors conduite</span><span class=\"f charStyle-81993cb5 ps418\" style=\"width:1.87pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:153.6pt\">pour \u00e9valuer le transfert des risque</span><span class=\"f charStyle-165dec60 ps30596\" style=\"width:64.38pt\">s et avantages</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.82pt\">inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.91pt\">Si cet examen met en \u00e9vidence le transfert de la quasi-</span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:25.35pt\">totalit\u00e9</span><span class=\"f charStyle-165dec60 ps30599\" style=\"width:7.09pt\"> </span><span class=\"f charStyle-81f42323 ps4119\" style=\"width:185.49pt\">des risques et avantages, ces cr\u00e9ances sont</span><span class=\"f charStyle-81f42323 ps16299\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.63pt\">d\u00e9comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps30600\" style=\"width:7.33pt\"> </span><span class=\"f charStyle-49b0b1fa ps30601\" style=\"width:147pt\">de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:109.89pt\">consolid\u00e9e. Dans la situation</span><span class=\"f charStyle-165dec60 ps30602\" style=\"width:108.08pt\"> inverse, elles continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue pour</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:83.05pt\">le\u00a0montant escompt\u00e9.</span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div>inf\u00e9rieures \u00e0 trois mois.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-459": {
   "value": "<div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances clients sont des actifs financiers courants,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initialement enregistr\u00e9es \u00e0 la juste valeur et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ult\u00e9rieurement au co\u00fbt amorti diminu\u00e9 des pertes de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">valeurs attendues. La juste valeur initiale des cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">clients est assimil\u00e9e \u00e0 leur valeur nominale compte tenu</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement inf\u00e9rieures \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.28pt\">trois\u00a0mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les cr\u00e9ances clients font l\u2019objet d\u2019une d\u00e9pr\u00e9ciation au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">titre des pertes attendues. Les deux m\u00e9thodes</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">d\u2019\u00e9valuation des pertes attendues utilis\u00e9es sont les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:39.04pt\">suivantes\u00a0:</span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.32pt\">\u00e9valuation des pertes attendues sur la base des pertes sur</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:83.8pt\">cr\u00e9ances historiques, </span><span class=\"f charStyle-165dec60 ps30236\" style=\"width:128.49pt\">de l\u2019ant\u00e9riorit\u00e9 des cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019analyses de risque individuelles au niveau d\u2019une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:133.93pt\">cr\u00e9ance ou un groupe de cr\u00e9ances ;</span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9valuation sur la base de la notation de cr\u00e9dit des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:26.13pt\">clients.</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Elles sont comptabilis\u00e9es en r\u00e9sultat op\u00e9rationnel ou, si</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:19.13pt\">elles </span><span class=\"f charStyle-c709af45 ps30238\" style=\"width:198.81pt\">sont li\u00e9es \u00e0 un risque de cr\u00e9dit du d\u00e9biteur, en autres</span><span class=\"f charStyle-c709af45 ps610\" style=\"width:1.87pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:27.32pt\">produit</span><span class=\"f charStyle-165dec60 ps22018\" style=\"width:85.26pt\">s et charges financiers.</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Dans le cadre d\u2019op\u00e9rations r\u00e9currentes ou ponctuelles, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">cr\u00e9ances clients peuvent faire l\u2019objet d\u2019escompte et \u00eatre</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">c\u00e9d\u00e9es \u00e0 des \u00e9tablissements bancaires. Conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:17.24pt\">aux </span><span class=\"f charStyle-d77d7991 ps30243\" style=\"width:200.69pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-d77d7991 ps16299\" style=\"width:1.91pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:37.57pt\">financiers,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30244\" style=\"width:180.39pt\"> une analyse est alors men\u00e9e lors de ces</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">op\u00e9rations pour \u00e9valuer le transfert des risques et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">avantages inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">notamment celui du risque de cr\u00e9dit, du risque de retard</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">de paiement et du risque de dilution. Si cet examen met</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">en \u00e9vidence non seulement le transfert contractuel du</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:152.92pt\">droit \u00e0 recevoir les flux de tr\u00e9sorerie </span><span class=\"f charStyle-7cdffd50 ps30081\" style=\"width:65.01pt\">li\u00e9s aux cr\u00e9ances</span><span class=\"f charStyle-7cdffd50 ps16299\" style=\"width:1.77pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:217.95pt\">c\u00e9d\u00e9es, mais aussi celui de la quasi-totalit\u00e9 des risques et</span><span class=\"f charStyle-7cdffd50 ps16281\" style=\"width:1.77pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps448\" style=\"width:208.33pt\">avantages, les cr\u00e9ances clients sont d\u00e9comptabilis\u00e9es </span><span class=\"f charStyle-165dec60 ps30245\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">l\u2019\u00e9tat de la situation financi\u00e8re consolid\u00e9e et tous les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">droits cr\u00e9\u00e9s ou conserv\u00e9s lors du transfert sont reconnus,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.23pt\">le cas \u00e9ch\u00e9ant.</span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Dans la situation inverse, les cr\u00e9ances clients continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue \u00e0 hauteur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:86.63pt\">du montant escompt\u00e9.</span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">Les baisses de prix octroy\u00e9es en avance aux constructeurs</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:3.66pt\">s</span><span class=\"f charStyle-9206869b ps8949\" style=\"width:214.31pt\">ont comptabilis\u00e9es en actifs sur contrat au sein des</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:33.17pt\">cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps30250\" style=\"width:184.79pt\"> clients dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">consolid\u00e9e lors de leur paiement. Elles sont ensuite</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps20651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">reconnues lin\u00e9airement au compte de r\u00e9sultat en</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30251 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">d\u00e9duction du chiffre d\u2019affaires \u00e0 compter de la date de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:138.76pt\">d\u00e9marrage de la production en s\u00e9rie.</span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les actifs et passifs financiers se composent</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:147pt\">principalement des \u00e9l\u00e9ments suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">les dettes financi\u00e8res \u00e0 long terme, les financements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:57.19pt\">court terme <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps32976\" style=\"width:155.12pt\">ainsi que les concours bancaires qui<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps431\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:97.56pt\">composent l\u2019endettement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4056\" style=\"width:76.04pt\"> financier brut (cf. </span><span class=\"f charStyle-165dec60 ps32978\" style=\"width:37.1pt\">Note 9.1.2</span><span class=\"f charStyle-165dec60 ps11627\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:64.61pt\">pages 427 \u00e0 431)\u00a0;</span></div><div class=\"ps13948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:149.68pt\">les pr\u00eats et cr\u00e9ances \u00e0 long terme\u00a0(cf.\u00a0</span><span class=\"f charStyle-81f42323 ps32981\" style=\"width:39.02pt\">Note 9.1.3.1</span><span class=\"f charStyle-81f42323 ps32982\" style=\"width:23.54pt\">, page</span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> </span></div><div class=\"ps13950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:18.35pt\">432)\u00a0;</span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:169.12pt\">la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie (cf. </span><span class=\"f charStyle-165dec60 ps32983\" style=\"width:41.61pt\">Note 9.1.3.2</span><span class=\"f charStyle-165dec60 ps32984\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:40.55pt\">page 432)\u00a0;</span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. </span><span class=\"f charStyle-165dec60 ps32985\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps32986\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps13942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les autres actifs et passifs financiers courants et non</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps13944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:47.88pt\">courants (cf. </span><span class=\"f charStyle-165dec60 ps32987\" style=\"width:35pt\">Note 9.1.5</span><span class=\"f charStyle-165dec60 ps32988\" style=\"width:42.45pt\">, page 439).</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div>inf\u00e9rieures \u00e0 trois mois.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-461": {
   "value": "<div class=\"ps30346 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.3<span id=\"i536db04b76d0497cac04f71354e38a6d_1079\"></span><span id=\"i536db04b76d0497cac04f71354e38a6d_1082\"></span><span id=\"i52b2e844c77e499fabef12a5277c096c\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30345\"><span style=\"display:inline-block;height:10.16pt;width:27.32pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Co\u00fbt des ventes<span class=\"f ps53\"> </span></span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.63pt\">Le co\u00fbt des ventes inclut, le cas \u00e9ch\u00e9ant, les indemnit\u00e9s d\u2019assurance relatives \u00e0 des sinistres intervenus dans le cadre des</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.64pt\">activit\u00e9s op\u00e9rationnelles du Groupe. Il peut s\u2019agir de crises qualit\u00e9 ou de dommages aux biens. Un produit d\u2019assurance est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.52pt\">enregistr\u00e9 au compte de r\u00e9sultat \u00e0 la date du sinistre, s\u2019il est d\u00e9montr\u00e9 que les dommages sont couverts par une police</span><span class=\"f charStyle-165dec60 ps19112\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.62pt\">d'assurance en cours de validit\u00e9. Si ce droit est conditionn\u00e9 \u00e0 la r\u00e9alisation ult\u00e9rieure de r\u00e9parations ou\u00a0\u00e0\u00a0l\u2019acquisition de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.55pt\">nouveaux actifs (indemnit\u00e9 conditionnelle), le produit y aff\u00e9rent doit \u00eatre reconnu au moment o\u00f9 interviennent les</span><span class=\"f charStyle-165dec60 ps30348\" style=\"width:1.96pt\"> </span></div><div class=\"ps4979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:139.66pt\">r\u00e9parations ou acquisitions pr\u00e9cit\u00e9es.<span class=\"f ps53\"> </span></span></div><div class=\"ps8381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.11pt\">Le co\u00fbt des ventes se d\u00e9compose comme suit\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps30368 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:27.75pt\"></td><td style=\"padding:0;width:12pt\"></td><td style=\"padding:0;width:176.25pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td rowspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss1934\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30349\"></span><span class=\"ps30349\">55,1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30272 ss1939\"><div><div class=\"ps17246 ss969\"><span class=\"f charStyle-4da12822 ps30350\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30351 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Consommation mati\u00e8res</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.07pt\"></span></span><span class=\"ps30352\">(11\u00a0526)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.61pt\"></span></span><span class=\"ps30353\">(12\u00a0038)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30277 ss1934\"><div><div class=\"ps30276 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30278 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30354\"></span><span class=\"ps30354\">11,7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30279 ss1939\"><div><div class=\"ps17246 ss969\"><span class=\"f charStyle-4da12822 ps30350\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30355 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Main-d'\u0153uvre </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30281 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.15pt\"></span></span><span class=\"ps27621\">(2\u00a0443)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30357 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.05pt\"></span></span><span class=\"ps30356\">(2\u00a0627)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30283 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bdbfbd4c ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30284 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30358\"></span><span class=\"ps30358\">8,2 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30285 ss1939\"><div><div class=\"ps17246 ss969\"><span class=\"f charStyle-4da12822 ps30350\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30359 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-249bb638 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps4503\">Co\u00fbts directs et frais g\u00e9n\u00e9raux de production </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30287 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.3pt\"></span></span><span class=\"ps30134\">(1\u00a0717)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30360 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.21pt\"></span></span><span class=\"ps30104\">(1\u00a0724)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss1934\"><div><div class=\"ps30276 ss1\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cbb4a92e ps10\" style=\"width:7.5pt\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss1935\"><div><div class=\"ps17246 ss101\"><span class=\"f charStyle-a696f64a\"><span class=\"ps27152\"></span><span class=\"ps27152\">4,7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30291 ss1939\"><div><div class=\"ps17246 ss969\"><span class=\"f charStyle-4da12822 ps30350\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30362 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Amortissements et pertes de valeur </span><span class=\"f charStyle-4da12822 ps30361\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.36pt\"></span></span><span class=\"ps20332\">(988)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30364 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.36pt\"></span></span><span class=\"ps30363\">(1\u00a0022)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30365 ss1940\"><div><div class=\"ps17246 ss1584\"><span class=\"f charStyle-ae6044e9 ps10\">CO\u00dbT DES VENTES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.86pt\"></span></span><span class=\"ps30366\">(16\u00a0674)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10380 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.52pt\"></span></span><span class=\"ps30367\">(17\u00a0411)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:82.14pt\">En % du chiffre d\u2019affaires.</span><span class=\"f charStyle-776a1ec6 ps30372\" style=\"width:1.7pt\"> </span></div><div class=\"ps30374 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">Ce montant n\u2019inclut pas les amortissements et pertes de valeur sur les frais de d\u00e9veloppement capitalis\u00e9s comptabilis\u00e9s en frais de Recherche<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.06pt\">et\u00a0D\u00e9veloppement. Il inclut l\u2019impact des subventions publiques sur les actifs non courants de production (hors Recherche et D\u00e9veloppement)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps1222\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">reconnu au compte de r\u00e9sultat sur l'exercice ainsi que l\u2019impact des mises au rebut et les plus ou moins-value de cession d\u2019immobilisations</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:37.25pt\">corporelles.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-462": {
   "value": "<div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.63pt\">Le co\u00fbt des ventes inclut, le cas \u00e9ch\u00e9ant, les indemnit\u00e9s d\u2019assurance relatives \u00e0 des sinistres intervenus dans le cadre des</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.64pt\">activit\u00e9s op\u00e9rationnelles du Groupe. Il peut s\u2019agir de crises qualit\u00e9 ou de dommages aux biens. Un produit d\u2019assurance est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.52pt\">enregistr\u00e9 au compte de r\u00e9sultat \u00e0 la date du sinistre, s\u2019il est d\u00e9montr\u00e9 que les dommages sont couverts par une police</span><span class=\"f charStyle-165dec60 ps19112\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.62pt\">d'assurance en cours de validit\u00e9. Si ce droit est conditionn\u00e9 \u00e0 la r\u00e9alisation ult\u00e9rieure de r\u00e9parations ou\u00a0\u00e0\u00a0l\u2019acquisition de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.55pt\">nouveaux actifs (indemnit\u00e9 conditionnelle), le produit y aff\u00e9rent doit \u00eatre reconnu au moment o\u00f9 interviennent les</span><span class=\"f charStyle-165dec60 ps30348\" style=\"width:1.96pt\"> </span></div>r\u00e9parations ou acquisitions pr\u00e9cit\u00e9es.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-463": {
   "value": "<div class=\"ps30380 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.4<span id=\"i00c07535a6e64556a013afc59e79c2bd_1552\"></span><span id=\"if3957a9a3b404348970967897861df1c\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30379\"><span style=\"display:inline-block;height:10.16pt;width:26.3pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Stocks<span class=\"f ps53\"> </span></span></div><div class=\"ps15226 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:12.6pt\">Les</span><span class=\"f charStyle-165dec60 ps30383\" style=\"width:205.3pt\"> stocks sont \u00e9valu\u00e9s au plus bas du co\u00fbt et de la valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15227 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">nette de r\u00e9alisation. Des d\u00e9pr\u00e9ciations sont constitu\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15228 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:22.41pt\">lorsqu</span><span class=\"f charStyle-165dec60 ps30384\" style=\"width:195.51pt\">e la valeur probable de r\u00e9alisation est inf\u00e9rieure au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15229 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">prix de revient. La valeur probable de r\u00e9alisation est bas\u00e9e</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15230 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">sur le prix des produits sur leur march\u00e9 de r\u00e9f\u00e9rence et</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15231 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">tient compte, le cas \u00e9ch\u00e9ant, du risque d\u2019obsolescence li\u00e9</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps15232 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">\u00e0 une faible rotation du stock pour une r\u00e9f\u00e9rence produit</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps15233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">donn\u00e9e. Les stocks obsol\u00e8tes et/ou destin\u00e9s \u00e0 \u00eatre</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:144.31pt\">d\u00e9truits sont int\u00e9gralement d\u00e9pr\u00e9ci\u00e9s.</span><span class=\"f charStyle-165dec60 ps30385\" style=\"width:1.96pt\"> </span></div><div class=\"ps30387 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les stocks de mati\u00e8res premi\u00e8res ou marchandises sont</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30388 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">valoris\u00e9s au co\u00fbt d\u2019achat. Les stocks de produits finis et</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30389 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">les en-cours de production sont valoris\u00e9s \u00e0 leur co\u00fbt de</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30390 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">production. Ce co\u00fbt de production comprend le co\u00fbt des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30391 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">mati\u00e8res et fournitures mises en \u0153uvre, de la main-</span></div><div class=\"ps30392 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">d\u2019\u0153uvre de production, des autres frais directs de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27951 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">production et des frais indirects d\u2019usine, \u00e0 l\u2019exclusion des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps27954 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">frais g\u00e9n\u00e9raux ne contribuant pas \u00e0 la production. Ces</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27956 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">co\u00fbts sont d\u00e9termin\u00e9s par r\u00e9f\u00e9rence \u00e0 la m\u00e9thode</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps27959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">\u00ab\u00a0Premier Entr\u00e9, Premier Sorti\u00a0\u00bb (First In, First Out) et,</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps27960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">compte tenu de la rotation des stocks, sont proches des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:88.29pt\">derniers prix de revient.</span></div><div class=\"ps15226 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">Les outillages de production, sp\u00e9cifiques \u00e0 un projet, font</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15227 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:217.95pt\">l\u2019objet d\u2019une analyse \u00e9conomique de la relation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps16281\" style=\"width:1.82pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15228 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:50.26pt\">contractuelle </span><span class=\"f charStyle-165dec60 ps30393\" style=\"width:167.66pt\">avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps15229 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">contr\u00f4le de l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps15230 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont immobilis\u00e9s dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps15231 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.39pt\">Groupe (cf. </span><span class=\"f charStyle-165dec60 ps30394\" style=\"width:36.8pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps30395\" style=\"width:99.82pt\">, pages 416 \u00e0 418, s</span><span class=\"f charStyle-367d076b ps30396\" style=\"width:25.98pt\">ur les</span><span class=\"f charStyle-367d076b ps16296\" style=\"width:1.88pt\"> </span></div><div class=\"ps15232 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:210.28pt\">immobilisations corporelles) lorsque ce contr\u00f4le revient</span><span class=\"f charStyle-165dec60 ps30397\" style=\"width:7.68pt\"> \u00e0</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Valeo ou comptabilis\u00e9s en stocks (jusqu\u2019au transfert de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">contr\u00f4le) dans le cas contraire. La perte \u00e9ventuelle sur le</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps30398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:217.99pt\">contrat d\u2019outillage (correspondant \u00e0 l\u2019\u00e9cart entre la</span><span class=\"f charStyle-42e3db84 ps16296\" style=\"width:1.82pt\"> </span></div><div class=\"ps28019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:40.37pt\">contributio</span><span class=\"f charStyle-165dec60 ps19479\" style=\"width:177.57pt\">n du client et le prix de revient de l\u2019outillage)</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps28021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:148.96pt\">est provisionn\u00e9e d\u00e8s qu\u2019elle est connue.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:154.73pt\">, les stocks se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><span id=\"i6520c4f1040c443ba540ef5f0caa8d0f_0-0-2-1-925878\"></span><div class=\"ps1 ss1944\"><div><div class=\"ps10309 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss518\"><div><div class=\"ps509 ss28\"><span class=\"f charStyle-6bef0edd ps30403\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30405 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27335\">Valeur brute<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30407 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps30406\">D\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Mati\u00e8res premi\u00e8res<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30409 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.74pt\"></span></span><span class=\"ps9591\">1\u00a0022<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30411 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.69pt\"></span></span><span class=\"ps30410\">(253)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.33pt\"></span></span><span class=\"ps30412\">769<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.6pt\"></span></span><span class=\"ps30413\">881<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">En-cours de production<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30414 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.35pt\"></span></span><span class=\"ps28420\">261<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30416 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.21pt\"></span></span><span class=\"ps30415\">(45)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.35pt\"></span></span><span class=\"ps28420\">216<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.49pt\"></span></span><span class=\"ps28430\">269<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Produits finis, marchandises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30417 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.65pt\"></span></span><span class=\"ps11801\">765<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30419 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.73pt\"></span></span><span class=\"ps30418\">(167)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.28pt\"></span></span><span class=\"ps30420\">598<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.1pt\"></span></span><span class=\"ps27853\">642<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Outillages sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30421 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.27pt\"></span></span><span class=\"ps28359\">286<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30422 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.99pt\"></span></span><span class=\"ps28391\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.64pt\"></span></span><span class=\"ps30423\">279<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.16pt\"></span></span><span class=\"ps27739\">318<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">STOCKS NETS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30425 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.9pt\"></span></span><span class=\"ps30424\">2\u00a0334<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30427 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.62pt\"></span></span><span class=\"ps30426\">(472)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.29pt\"></span></span><span class=\"ps27600\">1\u00a0862<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57pt\"></span></span><span class=\"ps23511\">2\u00a0110<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-464": {
   "value": "<div class=\"ps15226 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:12.6pt\">Les</span><span class=\"f charStyle-165dec60 ps30383\" style=\"width:205.3pt\"> stocks sont \u00e9valu\u00e9s au plus bas du co\u00fbt et de la valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15227 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">nette de r\u00e9alisation. Des d\u00e9pr\u00e9ciations sont constitu\u00e9es<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15228 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:22.41pt\">lorsqu</span><span class=\"f charStyle-165dec60 ps30384\" style=\"width:195.51pt\">e la valeur probable de r\u00e9alisation est inf\u00e9rieure au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15229 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">prix de revient. La valeur probable de r\u00e9alisation est bas\u00e9e</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15230 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">sur le prix des produits sur leur march\u00e9 de r\u00e9f\u00e9rence et</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15231 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">tient compte, le cas \u00e9ch\u00e9ant, du risque d\u2019obsolescence li\u00e9</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps15232 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">\u00e0 une faible rotation du stock pour une r\u00e9f\u00e9rence produit</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps15233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">donn\u00e9e. Les stocks obsol\u00e8tes et/ou destin\u00e9s \u00e0 \u00eatre</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:144.31pt\">d\u00e9truits sont int\u00e9gralement d\u00e9pr\u00e9ci\u00e9s.</span><span class=\"f charStyle-165dec60 ps30385\" style=\"width:1.96pt\"> </span></div><div class=\"ps30387 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les stocks de mati\u00e8res premi\u00e8res ou marchandises sont</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30388 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">valoris\u00e9s au co\u00fbt d\u2019achat. Les stocks de produits finis et</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30389 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">les en-cours de production sont valoris\u00e9s \u00e0 leur co\u00fbt de</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30390 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">production. Ce co\u00fbt de production comprend le co\u00fbt des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30391 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">mati\u00e8res et fournitures mises en \u0153uvre, de la main-</span></div><div class=\"ps30392 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">d\u2019\u0153uvre de production, des autres frais directs de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27951 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">production et des frais indirects d\u2019usine, \u00e0 l\u2019exclusion des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps27954 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">frais g\u00e9n\u00e9raux ne contribuant pas \u00e0 la production. Ces</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27956 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">co\u00fbts sont d\u00e9termin\u00e9s par r\u00e9f\u00e9rence \u00e0 la m\u00e9thode</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps27959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">\u00ab\u00a0Premier Entr\u00e9, Premier Sorti\u00a0\u00bb (First In, First Out) et,</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps27960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">compte tenu de la rotation des stocks, sont proches des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:88.29pt\">derniers prix de revient.</span></div><div class=\"ps15226 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">Les outillages de production, sp\u00e9cifiques \u00e0 un projet, font</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15227 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:217.95pt\">l\u2019objet d\u2019une analyse \u00e9conomique de la relation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps16281\" style=\"width:1.82pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15228 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:50.26pt\">contractuelle </span><span class=\"f charStyle-165dec60 ps30393\" style=\"width:167.66pt\">avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps15229 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">contr\u00f4le de l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps15230 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont immobilis\u00e9s dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps15231 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.39pt\">Groupe (cf. </span><span class=\"f charStyle-165dec60 ps30394\" style=\"width:36.8pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps30395\" style=\"width:99.82pt\">, pages 416 \u00e0 418, s</span><span class=\"f charStyle-367d076b ps30396\" style=\"width:25.98pt\">ur les</span><span class=\"f charStyle-367d076b ps16296\" style=\"width:1.88pt\"> </span></div><div class=\"ps15232 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:210.28pt\">immobilisations corporelles) lorsque ce contr\u00f4le revient</span><span class=\"f charStyle-165dec60 ps30397\" style=\"width:7.68pt\"> \u00e0</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Valeo ou comptabilis\u00e9s en stocks (jusqu\u2019au transfert de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">contr\u00f4le) dans le cas contraire. La perte \u00e9ventuelle sur le</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps30398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:217.99pt\">contrat d\u2019outillage (correspondant \u00e0 l\u2019\u00e9cart entre la</span><span class=\"f charStyle-42e3db84 ps16296\" style=\"width:1.82pt\"> </span></div><div class=\"ps28019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:40.37pt\">contributio</span><span class=\"f charStyle-165dec60 ps19479\" style=\"width:177.57pt\">n du client et le prix de revient de l\u2019outillage)</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps28021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:148.96pt\">est provisionn\u00e9e d\u00e8s qu\u2019elle est connue.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-465": {
   "value": "<div class=\"ps16999 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">La marge op\u00e9rationnelle correspond au chiffre d\u2019affaires diminu\u00e9 des co\u00fbts des ventes, des frais de Recherche et de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps26554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:59.87pt\">D\u00e9veloppement</span><span class=\"f charStyle-165dec60 ps30432\" style=\"width:187.55pt\"> ainsi que des frais commerciaux et administratifs.</span></div><div class=\"ps13634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.56pt\">La marge op\u00e9rationnelle y compris la quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises en \u00e9quivalence correspond au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:204.16pt\">r\u00e9sultat op\u00e9rationnel avant autres produits et charges.</span></div><div class=\"ps30726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:307.39pt\">Le r\u00e9sultat op\u00e9rationnel inclut l\u2019ensemble des produits et des charges autres que\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps26855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:319.44pt\">les produits et charges d\u2019int\u00e9r\u00eats\u00a0constitutifs du Co\u00fbt de l'endettement financier net ;</span></div><div class=\"ps30727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:152.98pt\">les autres produits et charges financiers\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:100.37pt\">les imp\u00f4ts sur les r\u00e9sultats.</span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">Afin de faciliter la lecture du compte de r\u00e9sultat et de la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">performance du Groupe, les \u00e9l\u00e9ments inhabituels et</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:36.5pt\">significatif</span><span class=\"f charStyle-b5684510 ps17015\" style=\"width:181.46pt\">s \u00e0 l\u2019\u00e9chelle de l\u2019ensemble consolid\u00e9 sont identifi\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:52.75pt\">sur la ligne </span><span class=\"f charStyle-81f42323 ps30748\" style=\"width:165.22pt\">du r\u00e9sultat op\u00e9rationnel intitul\u00e9e \u00ab\u00a0Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:76.29pt\">produits et charges\u00a0\u00bb.</span></div><div class=\"ps30749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.12pt\">Cette ligne inclut principalement\u00a0:</span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">les plus ou moins-values et les frais de transactions et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:178.79pt\">li\u00e9s \u00e0 l\u2019\u00e9volution du p\u00e9rim\u00e8tre de consolidation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">les litiges majeurs qui ne naissent pas de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">op\u00e9rationnelle du Groupe (sont ainsi exclues les charges</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">relatives aux litiges li\u00e9s \u00e0 la qualit\u00e9 des produits vendus,</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:210.98pt\">aux clients, aux fournisseurs ou \u00e0 des pertes de contrat)\u00a0;</span></div><div class=\"ps30750 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:198.23pt\">les charges nettes li\u00e9es aux plans de restructuration\u00a0;</span></div><div class=\"ps15588 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">les pertes de valeur et reprises sur actifs immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">constat\u00e9es notamment dans le cadre des tests de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.04pt\">d\u00e9pr\u00e9ciations d</span><span class=\"f charStyle-49b0b1fa ps30751\" style=\"width:153.25pt\">es unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT)</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps15591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps26704\" style=\"width:23.92pt\">et des </span><span class=\"f charStyle-639cbf67 ps30752\" style=\"width:31.27pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30753\" style=\"width:1.47pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradingIncomeAndExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-466": {
   "value": "957000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "valeo:MargeOperationnelleIncluantLaQuotePartDansLesResultatsDesSocietesMisesEnEquivalence",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-467": {
   "value": "0.046",
   "decimals": 3,
   "dimensions": {
    "concept": "valeo:MargeOperationnelleIncluantLaQuotePartDansLesResultatsDesSocietesMisesEnEquivalencePourcentageDuChiffreDAffaires",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-468": {
   "value": "0.043",
   "decimals": 3,
   "dimensions": {
    "concept": "valeo:MargeOperationnelleIncluantLaQuotePartDansLesResultatsDesSocietesMisesEnEquivalencePourcentageDuChiffreDAffaires",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
   }
  },
  "f-469": {
   "value": "-20000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-470": {
   "value": "12000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-471": {
   "value": "<span class=\"f charStyle-b11f9a65\"><span class=\"ps19680\"><span style=\"display:inline-block;height:8.71pt;width:15.1pt\"></span></span><span class=\"ps29285\">Frais de Recherche et D\u00e9veloppement</span></span><div class=\"ps21019 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.1.1<span id=\"i672d715b2a0048f58f84c7247f67cb53\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30462\"><span style=\"display:inline-block;height:8.22pt;width:10.6pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps14006 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Le processus d\u2019innovation peut s\u2019analyser en une activit\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:217.93pt\">de recherche et une activit\u00e9 de d\u00e9veloppement. La</span><span class=\"f charStyle-49b0b1fa ps415\" style=\"width:1.84pt\"> </span></div><div class=\"ps14008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:45.52pt\">recherche <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30465\" style=\"width:19.78pt\">est </span><span class=\"f charStyle-53279637 ps30466\" style=\"width:152.67pt\">l\u2019activit\u00e9 qui permet d\u2019acqu\u00e9rir des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps418\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:101.33pt\">connaissances scientifiques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30467\" style=\"width:2.07pt\"> </span><span class=\"f charStyle-81f42323 ps30468\" style=\"width:114.58pt\">ou des techniques nouvelles. Le</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:115.54pt\">d\u00e9veloppement est l\u2019application</span><span class=\"f charStyle-165dec60 ps30469\" style=\"width:2.02pt\"> </span><span class=\"f charStyle-56831d77 ps30470\" style=\"width:100.42pt\">des r\u00e9sultats de la recherche</span><span class=\"f charStyle-56831d77 ps431\" style=\"width:1.7pt\"> </span></div><div class=\"ps14011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps6588\" style=\"width:171.73pt\">en vue de la r\u00e9alisation des produits,</span><span class=\"f charStyle-e64cbdd5 ps30471\" style=\"width:9.18pt\"> </span><span class=\"f charStyle-165dec60 ps30472\" style=\"width:37.05pt\">avant le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps22258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.86pt\">commencement de leur production commerciale.<span class=\"f ps53\"> </span></span></div><div class=\"ps14014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les co\u00fbts li\u00e9s \u00e0 la recherche sont comptabilis\u00e9s en charge</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.83pt\">de l\u2019exercice au cours duquel ils sont encourus.</span><span class=\"f charStyle-165dec60 ps30473\" style=\"width:1.96pt\"> </span></div><div class=\"ps21176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les frais de d\u00e9veloppement sont, quant \u00e0 eux,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">immobilis\u00e9s d\u00e8s lors que le Groupe est en mesure de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps18764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:44.45pt\">d\u00e9montrer\u00a0:</span></div><div class=\"ps30474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">son intention ainsi que sa capacit\u00e9 financi\u00e8re et</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps30475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:40.87pt\">technique <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5316\" style=\"width:171.44pt\">de mener le projet de d\u00e9veloppement \u00e0 son</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">terme, qui se mat\u00e9rialisent notamment par l\u2019obtention</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:185.98pt\">d\u2019une lettre de nomination du client sur le projet\u00a0;</span></div><div class=\"ps30478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps3285\" style=\"width:212.28pt\">que l\u2019actif incorporel g\u00e9n\u00e9rera des avantages<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30480 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps3285\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps21387\" style=\"width:3.48pt\"> </span><span class=\"f charStyle-49b0b1fa ps30479\" style=\"width:158.51pt\">futurs d\u2019une valeur sup\u00e9rieure \u00e0 sa valeur</span><span class=\"f charStyle-49b0b1fa ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps30482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps3285\" style=\"width:66.4pt\">nette comptable,</span><span class=\"f charStyle-165dec60 ps30481\" style=\"width:145.91pt\"> qui s\u2019analyse notamment par une</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:157.72pt\">marge pr\u00e9visionnelle du projet suffisante ;</span></div><div class=\"ps15194 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.24pt\">et que le co\u00fbt de cet actif incorporel peut \u00eatre \u00e9valu\u00e9 de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15195 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:45.09pt\">fa\u00e7on fiable.</span></div><div class=\"ps14006 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Les frais de d\u00e9veloppement inscrits \u00e0 l\u2019actif de l\u2019\u00e9tat de la</span><span class=\"f charStyle-56831d77 ps16299\" style=\"width:1.7pt\"> </span></div><div class=\"ps14007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps448\" style=\"width:217.95pt\">situation financi\u00e8re correspondent donc \u00e0 des projets</span><span class=\"f charStyle-56831d77 ps16281\" style=\"width:1.7pt\"> </span></div><div class=\"ps14008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps448\" style=\"width:45.35pt\">d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30484\" style=\"width:172.58pt\"> sp\u00e9cifique \u00e0 un client donn\u00e9, reposant sur</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps14009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">des standards g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u00e9j\u00e0 appliqu\u00e9es en production. Ces projets font l\u2019objet</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019une analyse au cas par cas afin de s\u2019assurer qu\u2019ils</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps22258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9pondent bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s ci-</span></div><div class=\"ps22259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">contre. Les frais encourus avant la d\u00e9cision formelle</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps22260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">d\u2019entrer dans le d\u00e9veloppement du produit sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps22261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:203.22pt\">enregistr\u00e9s dans les charges de la p\u00e9riode. Les </span><span class=\"f charStyle-81f42323 ps30485\" style=\"width:14.73pt\">frais</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps22262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.95pt\">encourus post\u00e9rieurement au d\u00e9marrage de la production</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps22263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:199.6pt\">en s\u00e9rie sont trait\u00e9s comme des co\u00fbts de production.</span><span class=\"f charStyle-165dec60 ps30486\" style=\"width:1.96pt\"> </span></div><div class=\"ps21335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">Les frais de d\u00e9veloppement immobilis\u00e9s li\u00e9s \u00e0 des projets</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps21336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">n'ayant pas encore atteint le d\u00e9marrage s\u00e9rie font l'objet</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30487 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">de tests de d\u00e9pr\u00e9ciation d\u00e8s l'apparition d'indices de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">perte de valeur et en tout \u00e9tat de cause au minimum une</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fois par an. Post\u00e9rieurement au d\u00e9marrage s\u00e9rie, ils sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9116 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:32.31pt\">test\u00e9s a<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps30490\" style=\"width:185.68pt\">u niveau des unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie</span><span class=\"f charStyle-42e3db84 ps16296\" style=\"width:1.82pt\"> </span></div><div class=\"ps7915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:12.07pt\">(cf.\u00a0</span><span class=\"f charStyle-42e3db84 ps30491\" style=\"width:30.15pt\">Note 7.4</span><span class=\"f charStyle-42e3db84 ps30492\" style=\"width:63.72pt\">, pages 419 \u00e0 422).</span></div><div class=\"ps21340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais de d\u00e9veloppement immobilis\u00e9s sont amortis</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">selon la m\u00e9thode lin\u00e9aire sur une dur\u00e9e maximale de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30495 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.58pt\">quatre ans </span><span class=\"f charStyle-c8069515 ps30494\" style=\"width:170.36pt\">\u00e0 compter de la date de d\u00e9marrage de la</span><span class=\"f charStyle-c8069515 ps16283\" style=\"width:1.84pt\"> </span></div><div class=\"ps30496 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:72.38pt\">production en\u00a0s\u00e9rie.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:4.41pt\">L</span><span class=\"f charStyle-165dec60 ps30498\" style=\"width:263.57pt\">es variations des co\u00fbts de d\u00e9veloppement capitalis\u00e9s sur les exercices </span><span class=\"f charStyle-165dec60 ps30499\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30500\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps12619\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30501\" style=\"width:101.68pt\"> sont analys\u00e9es ci-dessous\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-c942a721 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-795e0f1d ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-c942a721 ps30503\"> JANVIER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.71pt\"></span></span><span class=\"ps30504\">6\u00a0511<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.38pt\"></span></span><span class=\"ps30505\">6\u00a0042<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et d\u00e9pr\u00e9ciations cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.08pt\"></span></span><span class=\"ps30506\">(3\u00a0726)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.25pt\"></span></span><span class=\"ps28270\">(3\u00a0625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-c942a721 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-795e0f1d ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-c942a721 ps30508\"> JANVIER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.34pt\"></span></span><span class=\"ps30509\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.65pt\"></span></span><span class=\"ps30510\">2\u00a0417<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Capitalisations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.2pt\"></span></span><span class=\"ps30511\">930<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.13pt\"></span></span><span class=\"ps30512\">1\u00a0045<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16833 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30334 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30336 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16837 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30515 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.06pt\"></span></span><span class=\"ps30514\">(234)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30517 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.36pt\"></span></span><span class=\"ps30516\">(66)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps772 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30519 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.45pt\"></span></span><span class=\"ps30518\">(623)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30521 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.43pt\"></span></span><span class=\"ps30520\">(625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9780 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Reclassements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30523 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.16pt\"></span></span><span class=\"ps30522\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30525 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.99pt\"></span></span><span class=\"ps30524\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30527 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.97pt\"></span></span><span class=\"ps30526\">(94)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30528 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.16pt\"></span></span><span class=\"ps27977\">39<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">VALEUR NETTE AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27870 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.68pt\"></span></span><span class=\"ps30529\">2\u00a0772<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27872 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.34pt\"></span></span><span class=\"ps30509\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30531 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.1.2<span id=\"ic5b0c277691446198116906c45dc67e7\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30530\"><span style=\"display:inline-block;height:8.22pt;width:8.92pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Frais de Recherche et D\u00e9veloppement</span></div><div class=\"ps30537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:89.03pt\">Les frais de Recherche </span><span class=\"f charStyle-165dec60 ps30534\" style=\"width:7.57pt\">et</span><span class=\"f charStyle-165dec60 ps30535\" style=\"width:361.89pt\"> de D\u00e9veloppement sont constitu\u00e9s des co\u00fbts encourus sur la p\u00e9riode, y compris les dotations</span><span class=\"f charStyle-165dec60 ps30536\" style=\"width:1.96pt\"> </span></div><div class=\"ps30538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.61pt\">aux amortissements des co\u00fbts de d\u00e9veloppement capitalis\u00e9s, minor\u00e9s des cr\u00e9dits d\u2019imp\u00f4t recherche et de la quote-part</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:378.05pt\">rapport\u00e9e au r\u00e9sultat des subventions accord\u00e9es au Groupe pour la Recherche et le D\u00e9veloppement.</span></div><div class=\"ps15509 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:333.23pt\">Les frais de Recherche et D\u00e9veloppement se d\u00e9composent comme suit sur les exercices </span><span class=\"f charStyle-165dec60 ps30541\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30542\" style=\"width:11.49pt\"> et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30543\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps20647\" style=\"width:3.55pt\">\u00a0:</span></div><div class=\"ps30556 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Frais de Recherche et D\u00e9veloppement bruts </span><span class=\"f charStyle-4da12822 ps30544\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps30545\"> </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.44pt\"></span></span><span class=\"ps25776\">(2\u00a0459)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.14pt\"></span></span><span class=\"ps30546\">(2\u00a0652)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Subventions et autres produits </span><span class=\"f charStyle-4da12822 ps30547\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.64pt\"></span></span><span class=\"ps30548\">109<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.64pt\"></span></span><span class=\"ps30548\">109<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.12pt\"></span></span><span class=\"ps30549\">930<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.05pt\"></span></span><span class=\"ps30550\">1\u00a0045<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Amortissements, pertes de valeur et mouvements de provisions </span><span class=\"f charStyle-4da12822 ps30551\"><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30331 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.16pt\"></span></span><span class=\"ps30552\">(853)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30332 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.81pt\"></span></span><span class=\"ps30553\">(628)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16833 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-96b05324 ps10\">FRAIS DE RECHERCHE ET D\u00c9VELOPPEMENT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30334 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.68pt\"></span></span><span class=\"ps30554\">(2\u00a0273)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30336 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.17pt\"></span></span><span class=\"ps30555\">(2\u00a0127)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30557 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.02pt\">Dans les comptes consolid\u00e9s au 31 d\u00e9cembre 2024, les frais de Recherche et D\u00e9veloppement bruts incluaient les variations de provisions</span><span class=\"f charStyle-776a1ec6 ps1121\" style=\"width:1.7pt\"> </span></div><div class=\"ps30558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.16pt\">relatives \u00e0 des frais de Recherche et D\u00e9veloppement qui constituaient un produit de 62 millions d\u2019euros. Dans le tableau ci-dessus, l\u2019impact de</span><span class=\"f charStyle-776a1ec6 ps639\" style=\"width:1.7pt\"> </span></div><div class=\"ps27779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:341.35pt\">ces variations de provisions n\u2019est plus pr\u00e9sent\u00e9 au sein de cette ligne. Celui-ci est pr\u00e9sent\u00e9 sur la ligne </span><span class=\"f charStyle-165dec60 ps30559\" style=\"width:5.97pt\">\u00ab\u00a0</span><span class=\"f charStyle-776a1ec6 ps30560\" style=\"width:119.83pt\">Amortissements, pertes de valeur et</span><span class=\"f charStyle-776a1ec6 ps460\" style=\"width:1.7pt\"> </span></div><div class=\"ps27781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:88.35pt\">mouvements de provisions</span><span class=\"f charStyle-165dec60 ps30561\" style=\"width:5.53pt\">\u00a0\u00bb</span><span class=\"f charStyle-776a1ec6 ps20346\" style=\"width:1.37pt\">.</span></div><div class=\"ps30562 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.01pt\">L'incidence du Cr\u00e9dit d'Imp\u00f4t Recherche, ou de tout autre dispositif fiscal similaire dans d'autres juridictions hors du champ d'application</span><span class=\"f charStyle-776a1ec6 ps1225\" style=\"width:1.7pt\"> </span></div><div class=\"ps30563 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.15pt\">d'IAS 12, ainsi que l'incidence de la subvention calcul\u00e9e sur l'emprunt souscrit aupr\u00e8s de la Banque europ\u00e9enne d'investissement en 2021 sont</span><span class=\"f charStyle-776a1ec6 ps460\" style=\"width:1.7pt\"> </span></div><div class=\"ps30565 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:85.63pt\">pr\u00e9sent\u00e9es sur cette ligne.</span><span class=\"f charStyle-776a1ec6 ps30564\" style=\"width:1.7pt\"> </span></div><div class=\"ps30566 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.09pt\">Les amortissements et pertes de valeur des frais de d\u00e9veloppement immobilis\u00e9s comprises dans la marge op\u00e9rationnelle ainsi que les</span><span class=\"f charStyle-776a1ec6 ps1710\" style=\"width:1.7pt\"> </span></div><div class=\"ps30567 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:387.3pt\">dotations, reprises et utilisations de provisions sur frais de Recherche et D\u00e9veloppement sont pr\u00e9sent\u00e9s sur cette ligne.</span></div><div class=\"ps30568 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.61pt\">En </span><span class=\"f charStyle-165dec60 ps29568\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps19538\" style=\"width:220.37pt\">, les actions lanc\u00e9es par Valeo au cours de l\u2019exercice </span><span class=\"f charStyle-68ecf294 ps1348\" style=\"width:228.64pt\"><span style=\"background-color:inherit\">pour rationaliser ses efforts en mati\u00e8re de Recherche et</span></span><span class=\"f charStyle-68ecf294 ps460\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps30569 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.25pt\"><span style=\"background-color:inherit\">D\u00e9veloppement ont conduit \u00e0 une diminution des frais de Recherche et D\u00e9veloppement bruts par rapport \u00e0 2024. Par ailleurs,</span></span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30574 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:184.05pt\"><span style=\"background-color:inherit\">Valeo a comptabilis\u00e9 des pertes de valeur de </span></span><span class=\"f charStyle-165dec60 ps30570\" style=\"width:13.42pt\">234</span><span class=\"f charStyle-165dec60 ps30571\" style=\"width:68.51pt\"> millions d\u2019euros </span><span class=\"f charStyle-68ecf294 ps30572\" style=\"width:101.25pt\"><span style=\"background-color:inherit\">principalement du fait de</span></span><span class=\"f charStyle-165dec60 ps30573\" style=\"width:114.02pt\"> r\u00e9siliations de contrats pour</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30575 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:240.23pt\">lesquelles le Groupe a obtenu des compensations de ses clients.</span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">Les contributions clients sur les frais de Recherche et D\u00e9veloppement et les prototypes sont comptabilis\u00e9es en chiffres d'affaires</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:186.38pt\">et\u00a0pr\u00e9sent\u00e9es au sein du poste \u00ab\u00a0Divers\u00a0\u00bb (cf. Note </span><span class=\"f charStyle-165dec60 ps12067\" style=\"width:8.53pt\">5.1</span><span class=\"f charStyle-165dec60 ps30576\" style=\"width:42.06pt\">, page 396).</span><span class=\"f charStyle-165dec60 ps30577\" style=\"width:1.96pt\"> </span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:219.87pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche en France, dont le calcul est\u00a0</span><span class=\"f charStyle-165dec60 ps30580\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">bas\u00e9 sur certaines d\u00e9penses de recherche relatives \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">projets jug\u00e9s\u00a0\u00ab\u00a0\u00e9ligibles\u00a0\u00bb,\u00a0est pay\u00e9 par l\u2019\u00c9tat quelle que</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">soit la situation de l\u2019entit\u00e9 au regard de l\u2019imp\u00f4t sur les</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">soci\u00e9t\u00e9s\u00a0: si la soci\u00e9t\u00e9 b\u00e9n\u00e9ficiaire du Cr\u00e9dit d\u2019Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Recherche est redevable de l\u2019imp\u00f4t sur les soci\u00e9t\u00e9s, ce</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.9pt\">cr\u00e9dit sera imput\u00e9 sur l\u2019imp\u00f4t \u00e0 payer\u00a0; \u00e0 d\u00e9faut, il sera</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps30585 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.93pt\">rembours\u00e9 par l\u2019\u00c9tat dans un d\u00e9lai de trois ans.</span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche, ou tout autre dispositif fiscal</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">similaire dans d\u2019autres juridictions, n\u2019entre donc pas dans</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">le champ d\u2019application de la norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">r\u00e9sultat\u00a0\u00bb et est comptabilis\u00e9 en diminution des frais de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Recherche et D\u00e9veloppement dans la marge</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">op\u00e9rationnelle du Groupe au rythme o\u00f9 les co\u00fbts financ\u00e9s</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:140.48pt\">sont reconnus au compte de r\u00e9sultat.</span></div><div class=\"ps7252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:428.81pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche en France comptabilis\u00e9 au compte de r\u00e9sultat sur la p\u00e9riode au titre de l'exercice </span><span class=\"f charStyle-165dec60 ps30587\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30588\" style=\"width:34.65pt\"> s'\u00e9l\u00e8ve \u00e0</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:255.35pt\">42\u00a0millions d\u2019euros (contre 50 millions d\u2019euros au cours de l\u2019exercice </span><span class=\"f charStyle-165dec60 ps30589\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30590\" style=\"width:4.05pt\">).</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-472": {
   "value": "<div class=\"ps14006 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Le processus d\u2019innovation peut s\u2019analyser en une activit\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:217.93pt\">de recherche et une activit\u00e9 de d\u00e9veloppement. La</span><span class=\"f charStyle-49b0b1fa ps415\" style=\"width:1.84pt\"> </span></div><div class=\"ps14008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:45.52pt\">recherche <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30465\" style=\"width:19.78pt\">est </span><span class=\"f charStyle-53279637 ps30466\" style=\"width:152.67pt\">l\u2019activit\u00e9 qui permet d\u2019acqu\u00e9rir des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps418\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:101.33pt\">connaissances scientifiques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30467\" style=\"width:2.07pt\"> </span><span class=\"f charStyle-81f42323 ps30468\" style=\"width:114.58pt\">ou des techniques nouvelles. Le</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:115.54pt\">d\u00e9veloppement est l\u2019application</span><span class=\"f charStyle-165dec60 ps30469\" style=\"width:2.02pt\"> </span><span class=\"f charStyle-56831d77 ps30470\" style=\"width:100.42pt\">des r\u00e9sultats de la recherche</span><span class=\"f charStyle-56831d77 ps431\" style=\"width:1.7pt\"> </span></div><div class=\"ps14011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps6588\" style=\"width:171.73pt\">en vue de la r\u00e9alisation des produits,</span><span class=\"f charStyle-e64cbdd5 ps30471\" style=\"width:9.18pt\"> </span><span class=\"f charStyle-165dec60 ps30472\" style=\"width:37.05pt\">avant le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps22258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:188.86pt\">commencement de leur production commerciale.<span class=\"f ps53\"> </span></span></div><div class=\"ps14014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les co\u00fbts li\u00e9s \u00e0 la recherche sont comptabilis\u00e9s en charge</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.83pt\">de l\u2019exercice au cours duquel ils sont encourus.</span><span class=\"f charStyle-165dec60 ps30473\" style=\"width:1.96pt\"> </span></div><div class=\"ps21176 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les frais de d\u00e9veloppement sont, quant \u00e0 eux,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">immobilis\u00e9s d\u00e8s lors que le Groupe est en mesure de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps18764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:44.45pt\">d\u00e9montrer\u00a0:</span></div><div class=\"ps30474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:212.31pt\">son intention ainsi que sa capacit\u00e9 financi\u00e8re et</span><span class=\"f charStyle-4afdd138 ps431\" style=\"width:1.9pt\"> </span></div><div class=\"ps30475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps3285\" style=\"width:40.87pt\">technique <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5316\" style=\"width:171.44pt\">de mener le projet de d\u00e9veloppement \u00e0 son</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">terme, qui se mat\u00e9rialisent notamment par l\u2019obtention</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:185.98pt\">d\u2019une lettre de nomination du client sur le projet\u00a0;</span></div><div class=\"ps30478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps3285\" style=\"width:212.28pt\">que l\u2019actif incorporel g\u00e9n\u00e9rera des avantages<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30480 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps3285\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps21387\" style=\"width:3.48pt\"> </span><span class=\"f charStyle-49b0b1fa ps30479\" style=\"width:158.51pt\">futurs d\u2019une valeur sup\u00e9rieure \u00e0 sa valeur</span><span class=\"f charStyle-49b0b1fa ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps30482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps3285\" style=\"width:66.4pt\">nette comptable,</span><span class=\"f charStyle-165dec60 ps30481\" style=\"width:145.91pt\"> qui s\u2019analyse notamment par une</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:157.72pt\">marge pr\u00e9visionnelle du projet suffisante ;</span></div><div class=\"ps15194 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.24pt\">et que le co\u00fbt de cet actif incorporel peut \u00eatre \u00e9valu\u00e9 de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps15195 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:45.09pt\">fa\u00e7on fiable.</span></div><div class=\"ps14006 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Les frais de d\u00e9veloppement inscrits \u00e0 l\u2019actif de l\u2019\u00e9tat de la</span><span class=\"f charStyle-56831d77 ps16299\" style=\"width:1.7pt\"> </span></div><div class=\"ps14007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps448\" style=\"width:217.95pt\">situation financi\u00e8re correspondent donc \u00e0 des projets</span><span class=\"f charStyle-56831d77 ps16281\" style=\"width:1.7pt\"> </span></div><div class=\"ps14008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps448\" style=\"width:45.35pt\">d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30484\" style=\"width:172.58pt\"> sp\u00e9cifique \u00e0 un client donn\u00e9, reposant sur</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps14009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">des standards g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u00e9j\u00e0 appliqu\u00e9es en production. Ces projets font l\u2019objet</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps14011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">d\u2019une analyse au cas par cas afin de s\u2019assurer qu\u2019ils</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps22258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9pondent bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s ci-</span></div><div class=\"ps22259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">contre. Les frais encourus avant la d\u00e9cision formelle</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps22260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">d\u2019entrer dans le d\u00e9veloppement du produit sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps22261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:203.22pt\">enregistr\u00e9s dans les charges de la p\u00e9riode. Les </span><span class=\"f charStyle-81f42323 ps30485\" style=\"width:14.73pt\">frais</span><span class=\"f charStyle-81f42323 ps16281\" style=\"width:1.78pt\"> </span></div><div class=\"ps22262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.95pt\">encourus post\u00e9rieurement au d\u00e9marrage de la production</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps22263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:199.6pt\">en s\u00e9rie sont trait\u00e9s comme des co\u00fbts de production.</span><span class=\"f charStyle-165dec60 ps30486\" style=\"width:1.96pt\"> </span></div><div class=\"ps21335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">Les frais de d\u00e9veloppement immobilis\u00e9s li\u00e9s \u00e0 des projets</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps21336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">n'ayant pas encore atteint le d\u00e9marrage s\u00e9rie font l'objet</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30487 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">de tests de d\u00e9pr\u00e9ciation d\u00e8s l'apparition d'indices de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">perte de valeur et en tout \u00e9tat de cause au minimum une</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fois par an. Post\u00e9rieurement au d\u00e9marrage s\u00e9rie, ils sont</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9116 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:32.31pt\">test\u00e9s a<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps30490\" style=\"width:185.68pt\">u niveau des unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie</span><span class=\"f charStyle-42e3db84 ps16296\" style=\"width:1.82pt\"> </span></div><div class=\"ps7915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:12.07pt\">(cf.\u00a0</span><span class=\"f charStyle-42e3db84 ps30491\" style=\"width:30.15pt\">Note 7.4</span><span class=\"f charStyle-42e3db84 ps30492\" style=\"width:63.72pt\">, pages 419 \u00e0 422).</span></div><div class=\"ps21340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais de d\u00e9veloppement immobilis\u00e9s sont amortis</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">selon la m\u00e9thode lin\u00e9aire sur une dur\u00e9e maximale de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30495 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.58pt\">quatre ans </span><span class=\"f charStyle-c8069515 ps30494\" style=\"width:170.36pt\">\u00e0 compter de la date de d\u00e9marrage de la</span><span class=\"f charStyle-c8069515 ps16283\" style=\"width:1.84pt\"> </span></div><div class=\"ps30496 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:72.38pt\">production en\u00a0s\u00e9rie.</span></div><div class=\"ps30537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:89.03pt\">Les frais de Recherche </span><span class=\"f charStyle-165dec60 ps30534\" style=\"width:7.57pt\">et</span><span class=\"f charStyle-165dec60 ps30535\" style=\"width:361.89pt\"> de D\u00e9veloppement sont constitu\u00e9s des co\u00fbts encourus sur la p\u00e9riode, y compris les dotations</span><span class=\"f charStyle-165dec60 ps30536\" style=\"width:1.96pt\"> </span></div><div class=\"ps30538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.61pt\">aux amortissements des co\u00fbts de d\u00e9veloppement capitalis\u00e9s, minor\u00e9s des cr\u00e9dits d\u2019imp\u00f4t recherche et de la quote-part</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:378.05pt\">rapport\u00e9e au r\u00e9sultat des subventions accord\u00e9es au Groupe pour la Recherche et le D\u00e9veloppement.</span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:219.87pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche en France, dont le calcul est\u00a0</span><span class=\"f charStyle-165dec60 ps30580\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">bas\u00e9 sur certaines d\u00e9penses de recherche relatives \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">projets jug\u00e9s\u00a0\u00ab\u00a0\u00e9ligibles\u00a0\u00bb,\u00a0est pay\u00e9 par l\u2019\u00c9tat quelle que</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">soit la situation de l\u2019entit\u00e9 au regard de l\u2019imp\u00f4t sur les</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">soci\u00e9t\u00e9s\u00a0: si la soci\u00e9t\u00e9 b\u00e9n\u00e9ficiaire du Cr\u00e9dit d\u2019Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Recherche est redevable de l\u2019imp\u00f4t sur les soci\u00e9t\u00e9s, ce</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.9pt\">cr\u00e9dit sera imput\u00e9 sur l\u2019imp\u00f4t \u00e0 payer\u00a0; \u00e0 d\u00e9faut, il sera</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps30585 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.93pt\">rembours\u00e9 par l\u2019\u00c9tat dans un d\u00e9lai de trois ans.</span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche, ou tout autre dispositif fiscal</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">similaire dans d\u2019autres juridictions, n\u2019entre donc pas dans</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">le champ d\u2019application de la norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">r\u00e9sultat\u00a0\u00bb et est comptabilis\u00e9 en diminution des frais de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Recherche et D\u00e9veloppement dans la marge</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">op\u00e9rationnelle du Groupe au rythme o\u00f9 les co\u00fbts financ\u00e9s</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:140.48pt\">sont reconnus au compte de r\u00e9sultat.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-473": {
   "value": "<div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:219.87pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche en France, dont le calcul est\u00a0</span><span class=\"f charStyle-165dec60 ps30580\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">bas\u00e9 sur certaines d\u00e9penses de recherche relatives \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">projets jug\u00e9s\u00a0\u00ab\u00a0\u00e9ligibles\u00a0\u00bb,\u00a0est pay\u00e9 par l\u2019\u00c9tat quelle que</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">soit la situation de l\u2019entit\u00e9 au regard de l\u2019imp\u00f4t sur les</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">soci\u00e9t\u00e9s\u00a0: si la soci\u00e9t\u00e9 b\u00e9n\u00e9ficiaire du Cr\u00e9dit d\u2019Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Recherche est redevable de l\u2019imp\u00f4t sur les soci\u00e9t\u00e9s, ce</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.9pt\">cr\u00e9dit sera imput\u00e9 sur l\u2019imp\u00f4t \u00e0 payer\u00a0; \u00e0 d\u00e9faut, il sera</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps30585 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:175.93pt\">rembours\u00e9 par l\u2019\u00c9tat dans un d\u00e9lai de trois ans.</span></div><div class=\"ps7259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Le Cr\u00e9dit d\u2019Imp\u00f4t Recherche, ou tout autre dispositif fiscal</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps7260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">similaire dans d\u2019autres juridictions, n\u2019entre donc pas dans</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">le champ d\u2019application de la norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps30581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">r\u00e9sultat\u00a0\u00bb et est comptabilis\u00e9 en diminution des frais de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Recherche et D\u00e9veloppement dans la marge</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">op\u00e9rationnelle du Groupe au rythme o\u00f9 les co\u00fbts financ\u00e9s</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:140.48pt\">sont reconnus au compte de r\u00e9sultat.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-474": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.5.2<span id=\"i9463f01b77d347a0991877ae1dfb775e\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30592\"><span style=\"display:inline-block;height:8.71pt;width:13.31pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres cr\u00e9ances</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les cr\u00e9ances de Cr\u00e9dit d\u2019Imp\u00f4t Recherche ainsi que les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:217.97pt\">cr\u00e9dits de TVA peuvent faire l\u2019objet d\u2019une op\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps418\" style=\"width:1.8pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps6588\" style=\"width:42.78pt\">d\u2019escompte</span><span class=\"f charStyle-165dec60 ps30594\" style=\"width:175.16pt\"> et \u00eatre c\u00e9d\u00e9es \u00e0 des \u00e9tablissements</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bancaires. De mani\u00e8re analogue aux cr\u00e9ances clients, les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">principes pos\u00e9s sur la d\u00e9comptabilisation des actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:114.85pt\">financiers s\u2019appliquent. Une </span><span class=\"f charStyle-81993cb5 ps30595\" style=\"width:103.12pt\">analyse est alors conduite</span><span class=\"f charStyle-81993cb5 ps418\" style=\"width:1.87pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:153.6pt\">pour \u00e9valuer le transfert des risque</span><span class=\"f charStyle-165dec60 ps30596\" style=\"width:64.38pt\">s et avantages</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.82pt\">inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.91pt\">Si cet examen met en \u00e9vidence le transfert de la quasi-</span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:25.35pt\">totalit\u00e9</span><span class=\"f charStyle-165dec60 ps30599\" style=\"width:7.09pt\"> </span><span class=\"f charStyle-81f42323 ps4119\" style=\"width:185.49pt\">des risques et avantages, ces cr\u00e9ances sont</span><span class=\"f charStyle-81f42323 ps16299\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.63pt\">d\u00e9comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps30600\" style=\"width:7.33pt\"> </span><span class=\"f charStyle-49b0b1fa ps30601\" style=\"width:147pt\">de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:109.89pt\">consolid\u00e9e. Dans la situation</span><span class=\"f charStyle-165dec60 ps30602\" style=\"width:108.08pt\"> inverse, elles continuent \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre comptabilis\u00e9es dans l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">consolid\u00e9e et une dette financi\u00e8re est reconnue pour</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:83.05pt\">le\u00a0montant escompt\u00e9.</span></div><div class=\"ps4019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:16.36pt\">Au </span><span class=\"f charStyle-165dec60 ps30603\" style=\"width:75.44pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30604\" style=\"width:137.47pt\">, les cr\u00e9ances de Cr\u00e9dit d'Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps4020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">Recherche de la France au titre des ann\u00e9es 2022, 2023, 2024</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">et 2025 ne\u00a0figurent plus dans l'\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:42.1pt\">consolid\u00e9e.</span></div><div class=\"ps30606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.08pt\">En effet, ces cr\u00e9ances ont fait l\u2019objet de cessions\u00a0:</span><span class=\"f charStyle-165dec60 ps30605\" style=\"width:1.96pt\"> </span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps626\" style=\"width:222.19pt\">le 16 d\u00e9cembre 2022 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps26829 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps626\" style=\"width:28.86pt\">d\u2019Imp\u00f4t</span><span class=\"f charStyle-165dec60 ps30607\" style=\"width:93.08pt\"> Recherche 2022 pour </span><span class=\"f charStyle-165dec60 ps30608\" style=\"width:9.19pt\">45</span><span class=\"f charStyle-165dec60 ps19928\" style=\"width:91.07pt\"> millions d'euros et en</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps15084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:176.68pt\">juillet 2023 pour le reliquat de 1 million d'euros ;</span></div><div class=\"ps26830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">le 20 d\u00e9cembre 2023 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps15086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps626\" style=\"width:222.24pt\">d'Imp\u00f4t Recherche 2023 pour 53 millions d'euros et en juin</span><span class=\"f charStyle-5064d44f ps412\" style=\"width:1.89pt\"> </span></div><div class=\"ps15087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps626\" style=\"width:18.13pt\">2024</span><span class=\"f charStyle-165dec60 ps158\" style=\"width:141.53pt\"> pour le reliquat de 3 millions d'euros ;</span></div><div class=\"ps4019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">le 19 d\u00e9cembre 2024 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">d'Imp\u00f4t Recherche 2024 pour 42 millions d'euros et en juin</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps4021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:162.75pt\">2025 pour le reliquat de 10 millions d\u2019euros ;</span></div><div class=\"ps26826 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">le 19 d\u00e9cembre 2025 pour la cr\u00e9ance en germe de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps30606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:185.05pt\">d'Imp\u00f4t Recherche 2025 pour 28 millions d'euros.</span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:14.57pt\">Au </span><span class=\"f charStyle-165dec60 ps30609\" style=\"width:71.86pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30610\" style=\"width:105.45pt\"> comme au 31 d\u00e9cembre </span><span class=\"f charStyle-165dec60 ps30611\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30612\" style=\"width:19.02pt\">, des</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26829 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">cr\u00e9ances au titre de cr\u00e9dits de TVA au Mexique ont fait</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps15084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">l'objet d'une cession et ne figurent plus dans l'\u00e9tat de la</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps13594 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">situation financi\u00e8re consolid\u00e9e ; celles-ci s\u2019\u00e9l\u00e8vent \u00e0 59</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps13595 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">millions d\u2019euros \u00e0 fin 2025 contre 14 millions d\u2019euros \u00e0 fin</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps13597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20pt\">2024.</span></div><div class=\"ps15088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Le co\u00fbt de ces cessions, comptabilis\u00e9 en co\u00fbt de</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps15090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:58.09pt\">l\u2019endettement </span><span class=\"f charStyle-d77d7991 ps30613\" style=\"width:106.72pt\">financier net sur l\u2019exercice </span><span class=\"f charStyle-d77d7991 ps30614\" style=\"width:17.5pt\">2025</span><span class=\"f charStyle-d77d7991 ps30615\" style=\"width:42.48pt\">, s'\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-d77d7991 ps30616\" style=\"width:4.51pt\">6</span><span class=\"f charStyle-d77d7991 ps449\" style=\"width:1.91pt\"> </span></div><div class=\"ps15092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps448\" style=\"width:79.54pt\">millions d'euros pour </span><span class=\"f charStyle-165dec60 ps30617\" style=\"width:119.68pt\">le Groupe (5 millions d'euros en\u00a0</span><span class=\"f charStyle-165dec60 ps30618\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30619\" style=\"width:4.05pt\">).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-475": {
   "value": "<div class=\"ps30701 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.5.3.4<span id=\"id44eaf74946b42bebe1c013c73cd8b00\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30700\"><span style=\"display:inline-block;height:8.22pt;width:6.38pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Transactions avec les entreprises mises en \u00e9quivalence (parties li\u00e9es)</span></div><div class=\"ps30702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les comptes consolid\u00e9s incluent des op\u00e9rations effectu\u00e9es par le Groupe dans le cadre normal de ses activit\u00e9s avec les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:391.74pt\">entreprises associ\u00e9es et les coentreprises. Ces transactions se font \u00e0 des conditions normales de march\u00e9.</span></div><div class=\"ps30704 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les entreprises associ\u00e9es<span id=\"ie435d98af34f4abba80f704d624da975\"></span></span></div><div class=\"ps30706 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.21pt\"></span></span><span class=\"ps30625\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.92pt\"></span></span><span class=\"ps883\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.14pt\"></span></span><span class=\"ps3267\">(6)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16825 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30328 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.91pt\"></span></span><span class=\"ps30705\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30329 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30709 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.5pt\"></span></span><span class=\"ps20357\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.69pt\"></span></span><span class=\"ps29563\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.05pt\"></span></span><span class=\"ps30708\">(41)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30710 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Transactions avec les coentreprises<span id=\"ia2247e92d8894838bfc50d8a3ac7fddf\"></span></span></div><div class=\"ps30716 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.8pt\"></span></span><span class=\"ps30711\">47<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.96pt\"></span></span><span class=\"ps28410\">42<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps10148 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.04pt\"></span></span><span class=\"ps30652\">(10)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.22pt\"></span></span><span class=\"ps23632\">(18)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30712 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Cr\u00e9ances financi\u00e8res / (Dettes financi\u00e8res nettes)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30713 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.9pt\"></span></span><span class=\"ps30259\">61<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30715 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.35pt\"></span></span><span class=\"ps30714\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30720 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps18376\">2024</span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Ventes de marchandises et services rendus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.51pt\"></span></span><span class=\"ps30717\">112<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.55pt\"></span></span><span class=\"ps30718\">104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10148 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Achats de marchandises et services re\u00e7us<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30325 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.92pt\"></span></span><span class=\"ps30707\">(39)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30327 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.59pt\"></span></span><span class=\"ps30719\">(71)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">6.5<span id=\"i6e51f8ce0c6d4ac0b6b68a04a4e1fb54\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30721\"><span style=\"display:inline-block;height:10.16pt;width:26.85pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9mun\u00e9ration des dirigeants (parties li\u00e9es)<span class=\"f ps53\"> </span></span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:458.64pt\">Les principaux dirigeants du Groupe incluent le Pr\u00e9sident du Conseil d'administration, le Directeur G\u00e9n\u00e9ral, les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:58.88pt\">administrateurs<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31691\" style=\"width:399.65pt\"> (les\u00a0mandataires sociaux) ainsi que les membres du Comit\u00e9 ex\u00e9cutif. Ce dernier Comit\u00e9 compte<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27008\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:161.09pt\">12\u00a0membres (dont le\u00a0Directeur G\u00e9n\u00e9ral) au </span><span class=\"f charStyle-165dec60 ps20253\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps31692\" style=\"width:1.59pt\">.</span></div><div class=\"ps2105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.55pt\">La r\u00e9mun\u00e9ration des mandataires sociaux est pr\u00e9sent\u00e9e dans le Chapitre 3 \u00ab\u00a0Gouvernement d\u2019entreprise\u00a0\u00bb du Document</span><span class=\"f charStyle-165dec60 ps30348\" style=\"width:1.96pt\"> </span></div><div class=\"ps2106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:103.59pt\">d\u2019enregistrement universel <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31693\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31694\" style=\"width:1.59pt\">.</span></div><div class=\"ps15765 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les charges li\u00e9es aux r\u00e9mun\u00e9rations, et autres avantages attribu\u00e9s aux mandataires sociaux ainsi qu\u2019aux membres du Comit\u00e9<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15766 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:301.68pt\">ex\u00e9cutif au titre de\u00a0leurs fonctions dans le Groupe se d\u00e9composent comme suit :</span></div><div class=\"ps31701 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">AVANTAGES \u00c0 COURT TERME<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">R\u00e9mun\u00e9rations fixes, variables, exceptionnelles et autres</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.51pt\"></span></span><span class=\"ps31696\">14<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.9pt\"></span></span><span class=\"ps30259\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">R\u00e9mun\u00e9rations li\u00e9es au mandat d'administrateur </span><span class=\"f charStyle-4da12822 ps31697\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.46pt\"></span></span><span class=\"ps31698\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.46pt\"></span></span><span class=\"ps31698\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">AUTRES AVANTAGES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Avantages post\u00e9rieurs \u00e0 l'emploi </span><span class=\"f charStyle-4da12822 ps31699\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">R\u00e9mun\u00e9rations fond\u00e9es sur les actions</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.38pt\"></span></span><span class=\"ps31700\">8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:413.08pt\">Les dirigeants mandataires sociaux ne per\u00e7oivent pas de r\u00e9mun\u00e9ration au titre de leur fonction d\u2019administrateur de Valeo SE.</span></div><div class=\"ps31704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:12.04pt\">Au </span><span class=\"f charStyle-776a1ec6 ps20975\" style=\"width:61.09pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps31703\" style=\"width:394.01pt\">, les provisions incluses dans l\u2019\u00e9tat de la situation financi\u00e8re du Groupe au titre des engagements de retraites des</span><span class=\"f charStyle-776a1ec6 ps449\" style=\"width:1.7pt\"> </span></div><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:203.38pt\">dirigeants s\u2019\u00e9l\u00e8vent \u00e0 10 millions d\u2019euros (8 millions d\u2019euros en </span><span class=\"f charStyle-776a1ec6 ps31705\" style=\"width:15.97pt\">2024</span><span class=\"f charStyle-776a1ec6 ps31706\" style=\"width:2.13pt\">)</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-478": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.6<span id=\"ie88e2f7d28e646809fd8c6ba49b9dfc1\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30721\"><span style=\"display:inline-block;height:10.16pt;width:26.85pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat op\u00e9rationnel et autres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30723 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.1<span id=\"i70a34b865be74202aae2d0df69cfd0a6\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">R\u00e9sultat op\u00e9rationnel<span class=\"f ps53\"> </span></span></div><div class=\"ps30726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:307.39pt\">Le r\u00e9sultat op\u00e9rationnel inclut l\u2019ensemble des produits et des charges autres que\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps26855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:319.44pt\">les produits et charges d\u2019int\u00e9r\u00eats\u00a0constitutifs du Co\u00fbt de l'endettement financier net ;</span></div><div class=\"ps30727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:152.98pt\">les autres produits et charges financiers\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:100.37pt\">les imp\u00f4ts sur les r\u00e9sultats.</span></div><div class=\"ps30732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:82.54pt\">Sur l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps30730\" style=\"width:69.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30731\" style=\"width:329.59pt\">, le r\u00e9sultat op\u00e9rationnel y compris la quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:72.21pt\">en\u00a0\u00e9quivalence est <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30733\" style=\"width:44.01pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30734\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps30735\" style=\"width:13.75pt\">789</span><span class=\"f charStyle-165dec60 ps30736\" style=\"width:91.01pt\"> millions d\u2019euros, contre </span><span class=\"f charStyle-165dec60 ps30737\" style=\"width:44.01pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30738\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps30739\" style=\"width:12.04pt\">618</span><span class=\"f charStyle-165dec60 ps30740\" style=\"width:74.46pt\"> millions d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30741\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30742\" style=\"width:1.59pt\">.</span></div><div class=\"ps30744 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.2<span id=\"i3cb3052ea63f40ab9a725a4dfada25bc\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps14013\"><span style=\"display:inline-block;height:8.71pt;width:12.93pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Au</span><span class=\"f charStyle-b11f9a65 ps19441\">tres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">Afin de faciliter la lecture du compte de r\u00e9sultat et de la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">performance du Groupe, les \u00e9l\u00e9ments inhabituels et</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:36.5pt\">significatif</span><span class=\"f charStyle-b5684510 ps17015\" style=\"width:181.46pt\">s \u00e0 l\u2019\u00e9chelle de l\u2019ensemble consolid\u00e9 sont identifi\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:52.75pt\">sur la ligne </span><span class=\"f charStyle-81f42323 ps30748\" style=\"width:165.22pt\">du r\u00e9sultat op\u00e9rationnel intitul\u00e9e \u00ab\u00a0Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:76.29pt\">produits et charges\u00a0\u00bb.</span></div><div class=\"ps30749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.12pt\">Cette ligne inclut principalement\u00a0:</span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">les plus ou moins-values et les frais de transactions et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:178.79pt\">li\u00e9s \u00e0 l\u2019\u00e9volution du p\u00e9rim\u00e8tre de consolidation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">les litiges majeurs qui ne naissent pas de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">op\u00e9rationnelle du Groupe (sont ainsi exclues les charges</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">relatives aux litiges li\u00e9s \u00e0 la qualit\u00e9 des produits vendus,</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:210.98pt\">aux clients, aux fournisseurs ou \u00e0 des pertes de contrat)\u00a0;</span></div><div class=\"ps30750 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:198.23pt\">les charges nettes li\u00e9es aux plans de restructuration\u00a0;</span></div><div class=\"ps15588 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">les pertes de valeur et reprises sur actifs immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">constat\u00e9es notamment dans le cadre des tests de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.04pt\">d\u00e9pr\u00e9ciations d</span><span class=\"f charStyle-49b0b1fa ps30751\" style=\"width:153.25pt\">es unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT)</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps15591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps26704\" style=\"width:23.92pt\">et des </span><span class=\"f charStyle-639cbf67 ps30752\" style=\"width:31.27pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30753\" style=\"width:1.47pt\">.</span></div><div class=\"ps17606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:63.43pt\">Sur les exercices </span><span class=\"f charStyle-165dec60 ps30755\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30756\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps27633\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30757\" style=\"width:229.73pt\">, les autres produits et charges se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps30765 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss517\"><div><div class=\"ps10243 ss516\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps28263\">Notes explicatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1859\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Plus ou moins-values et frais de transactions li\u00e9s </span></div><div class=\"ps748 ss516\"><span class=\"f charStyle-044fe383 ps10\">\u00e0\u00a0l'\u00e9volution\u00a0du\u00a0p\u00e9rim\u00e8tre de consolidation</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps8015 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps30758\">5.6.2.1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.08pt\"></span></span><span class=\"ps29220\">63<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Litiges<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28134\">5.6.2.2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67pt\"></span></span><span class=\"ps30759\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Plans de restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30760\">5.6.2.3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.9pt\"></span></span><span class=\"ps27736\">(156)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.98pt\"></span></span><span class=\"ps27871\">(305)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur sur actifs</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27480 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30761\">5.6.2.4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.88pt\"></span></span><span class=\"ps30762\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22743 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">AUTRES PRODUITS ET CHARGES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27487 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.2pt\"></span></span><span class=\"ps30763\">(168)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27490 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.03pt\"></span></span><span class=\"ps30764\">(313)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.1<span id=\"i41055b0d4bea477eb4c3b84dd17c200c\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Plus ou moins-values et frais </span></span></div><div class=\"ps30768 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">de\u00a0transactions\u00a0li\u00e9s \u00e0 l'\u00e9volution </span></div><div class=\"ps30769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">du\u00a0p\u00e9rim\u00e8tre\u00a0de\u00a0consolidation</span></div><div class=\"ps22301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Ce poste inclut le r\u00e9sultat des op\u00e9rations de cession</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps22302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.09pt\">pr\u00e9sent\u00e9es en note 3.2.1, page 392.</span><span class=\"f charStyle-165dec60 ps30770\" style=\"width:1.96pt\"> </span></div><div class=\"ps12882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Au 31 d\u00e9cembre 2024, ce poste incluait notamment la plus-</span></div><div class=\"ps12883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">value de 91 millions d'euros relative \u00e0 la cession de l'activit\u00e9</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">de Syst\u00e8mes thermiques v\u00e9hicules commerciaux finalis\u00e9e le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:47.27pt\">30 juin 2024.</span></div><div class=\"ps30772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.2<span id=\"i55af2552803c41aa9938dd2c1e8e83ca\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30771\"><span style=\"display:inline-block;height:8.22pt;width:6.88pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Litiges</span></div><div class=\"ps15261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Ce poste inclut les incidences et les frais des conseils</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">juridiques aff\u00e9rents li\u00e9es \u00e0 divers litiges rev\u00eatant un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps15263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">caract\u00e8re inhabituel de par leur nature, leur montant ou leur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.94pt\">ant\u00e9riorit\u00e9.</span></div><div class=\"ps30774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.3<span id=\"i6238a26fee9241e588291592e040f779\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30773\"><span style=\"display:inline-block;height:8.22pt;width:6.86pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Plans de restructuration</span></div><div class=\"ps30775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">En 2025, Valeo a poursuivi ses efforts pour all\u00e9ger sa</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">structure de co\u00fbts et r\u00e9aligner ses capacit\u00e9s de production \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30777 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">la demande de march\u00e9. Ces actions se sont traduites par la</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30497 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">mise en oeuvre de plans de restructuration principalement</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9122 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:188.73pt\">en France, en Allemagne et en Am\u00e9rique du Nord.</span></div><div class=\"ps21987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Les charges de restructuration constat\u00e9es au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">l\u2019exercice 2024 \u00e9taient principalement li\u00e9es au plan de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9organisation de la Division POWER, annonc\u00e9 au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:201.27pt\">l\u2019ann\u00e9e et dont la mise en oeuvre a continu\u00e9 en 2025. </span><span class=\"f charStyle-5f5146f2 ps30778\" style=\"width:2.07pt\"> </span></div><div class=\"ps7756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.19pt\">Ce poste inclut \u00e9galement</span><span class=\"f charStyle-81f42323 ps30780\" style=\"width:123.09pt\"> des charges li\u00e9es aux plans de</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:90.4pt\">pr\u00e9retraite en Allemagne</span><span class=\"f charStyle-165dec60 ps30781\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">5.6.2.4<span id=\"i2f567202da71418caefe989c317019f2\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2539\"><span style=\"display:inline-block;height:8.22pt;width:6.04pt\"></span></span></span><span class=\"f charStyle-9417a400 ps17462\">P</span><span class=\"f charStyle-9417a400 ps30783\">ertes de valeur sur actifs</span></div><div class=\"ps30786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:80.4pt\">Sur l'exercice clos au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps30784\" style=\"width:67.3pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30785\" style=\"width:81.58pt\">, les tests de perte de</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">valeur ont conduit \u00e0 la reprise de pertes de valeur \u00e0 hauteur de</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps30788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">6 millions d\u2019euros sur les actifs de l\u2019unit\u00e9 g\u00e9n\u00e9ratrice de</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps30790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:147.88pt\">tr\u00e9sorerie Commandes sous volant (cf. </span><span class=\"f charStyle-81f42323 ps30789\" style=\"width:81.43pt\">Note 7.4.2, page 420),</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps30791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">augmentant la valeur comptable de ces actifs \u00e0 la valeur qui</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">aurait \u00e9t\u00e9 d\u00e9termin\u00e9e (nette des amortissements) si aucune</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:146.63pt\">perte de valeur n\u2019avait \u00e9t\u00e9 comptabilis\u00e9e.</span></div><div class=\"ps30794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Au 31 d\u00e9cembre 2024, le Groupe avait comptabilis\u00e9 une</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.83pt\">perte </span><span class=\"f charStyle-81f42323 ps30795\" style=\"width:47.89pt\">de valeur de </span><span class=\"f charStyle-165dec60 ps30796\" style=\"width:158.57pt\">48 millions d'euros sur une relation client</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">reconnue dans le cadre de la prise de contr\u00f4le de Valeo</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">eAutomotive en 2022, afin de tenir compte de la r\u00e9vision des</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">avantages \u00e9conomiques futurs attendus d'un contrat avec</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.54pt\">un client.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-477": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.6<span id=\"ie88e2f7d28e646809fd8c6ba49b9dfc1\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30721\"><span style=\"display:inline-block;height:10.16pt;width:26.85pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat op\u00e9rationnel et autres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30723 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.1<span id=\"i70a34b865be74202aae2d0df69cfd0a6\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">R\u00e9sultat op\u00e9rationnel<span class=\"f ps53\"> </span></span></div><div class=\"ps30726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:307.39pt\">Le r\u00e9sultat op\u00e9rationnel inclut l\u2019ensemble des produits et des charges autres que\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps26855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:319.44pt\">les produits et charges d\u2019int\u00e9r\u00eats\u00a0constitutifs du Co\u00fbt de l'endettement financier net ;</span></div><div class=\"ps30727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:152.98pt\">les autres produits et charges financiers\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:100.37pt\">les imp\u00f4ts sur les r\u00e9sultats.</span></div><div class=\"ps30732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:82.54pt\">Sur l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps30730\" style=\"width:69.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30731\" style=\"width:329.59pt\">, le r\u00e9sultat op\u00e9rationnel y compris la quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:72.21pt\">en\u00a0\u00e9quivalence est <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30733\" style=\"width:44.01pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30734\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps30735\" style=\"width:13.75pt\">789</span><span class=\"f charStyle-165dec60 ps30736\" style=\"width:91.01pt\"> millions d\u2019euros, contre </span><span class=\"f charStyle-165dec60 ps30737\" style=\"width:44.01pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30738\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps30739\" style=\"width:12.04pt\">618</span><span class=\"f charStyle-165dec60 ps30740\" style=\"width:74.46pt\"> millions d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30741\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30742\" style=\"width:1.59pt\">.</span></div><div class=\"ps30744 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.2<span id=\"i3cb3052ea63f40ab9a725a4dfada25bc\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps14013\"><span style=\"display:inline-block;height:8.71pt;width:12.93pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Au</span><span class=\"f charStyle-b11f9a65 ps19441\">tres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">Afin de faciliter la lecture du compte de r\u00e9sultat et de la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">performance du Groupe, les \u00e9l\u00e9ments inhabituels et</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:36.5pt\">significatif</span><span class=\"f charStyle-b5684510 ps17015\" style=\"width:181.46pt\">s \u00e0 l\u2019\u00e9chelle de l\u2019ensemble consolid\u00e9 sont identifi\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:52.75pt\">sur la ligne </span><span class=\"f charStyle-81f42323 ps30748\" style=\"width:165.22pt\">du r\u00e9sultat op\u00e9rationnel intitul\u00e9e \u00ab\u00a0Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:76.29pt\">produits et charges\u00a0\u00bb.</span></div><div class=\"ps30749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.12pt\">Cette ligne inclut principalement\u00a0:</span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">les plus ou moins-values et les frais de transactions et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:178.79pt\">li\u00e9s \u00e0 l\u2019\u00e9volution du p\u00e9rim\u00e8tre de consolidation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">les litiges majeurs qui ne naissent pas de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">op\u00e9rationnelle du Groupe (sont ainsi exclues les charges</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">relatives aux litiges li\u00e9s \u00e0 la qualit\u00e9 des produits vendus,</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:210.98pt\">aux clients, aux fournisseurs ou \u00e0 des pertes de contrat)\u00a0;</span></div><div class=\"ps30750 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:198.23pt\">les charges nettes li\u00e9es aux plans de restructuration\u00a0;</span></div><div class=\"ps15588 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">les pertes de valeur et reprises sur actifs immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">constat\u00e9es notamment dans le cadre des tests de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.04pt\">d\u00e9pr\u00e9ciations d</span><span class=\"f charStyle-49b0b1fa ps30751\" style=\"width:153.25pt\">es unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT)</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps15591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps26704\" style=\"width:23.92pt\">et des </span><span class=\"f charStyle-639cbf67 ps30752\" style=\"width:31.27pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30753\" style=\"width:1.47pt\">.</span></div><div class=\"ps17606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:63.43pt\">Sur les exercices </span><span class=\"f charStyle-165dec60 ps30755\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30756\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps27633\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30757\" style=\"width:229.73pt\">, les autres produits et charges se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps30765 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss517\"><div><div class=\"ps10243 ss516\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps28263\">Notes explicatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1859\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Plus ou moins-values et frais de transactions li\u00e9s </span></div><div class=\"ps748 ss516\"><span class=\"f charStyle-044fe383 ps10\">\u00e0\u00a0l'\u00e9volution\u00a0du\u00a0p\u00e9rim\u00e8tre de consolidation</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps8015 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps30758\">5.6.2.1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.08pt\"></span></span><span class=\"ps29220\">63<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Litiges<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28134\">5.6.2.2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67pt\"></span></span><span class=\"ps30759\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Plans de restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30760\">5.6.2.3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.9pt\"></span></span><span class=\"ps27736\">(156)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.98pt\"></span></span><span class=\"ps27871\">(305)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur sur actifs</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27480 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30761\">5.6.2.4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.88pt\"></span></span><span class=\"ps30762\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22743 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">AUTRES PRODUITS ET CHARGES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27487 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.2pt\"></span></span><span class=\"ps30763\">(168)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27490 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.03pt\"></span></span><span class=\"ps30764\">(313)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.1<span id=\"i41055b0d4bea477eb4c3b84dd17c200c\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Plus ou moins-values et frais </span></span></div><div class=\"ps30768 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">de\u00a0transactions\u00a0li\u00e9s \u00e0 l'\u00e9volution </span></div><div class=\"ps30769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">du\u00a0p\u00e9rim\u00e8tre\u00a0de\u00a0consolidation</span></div><div class=\"ps22301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Ce poste inclut le r\u00e9sultat des op\u00e9rations de cession</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps22302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.09pt\">pr\u00e9sent\u00e9es en note 3.2.1, page 392.</span><span class=\"f charStyle-165dec60 ps30770\" style=\"width:1.96pt\"> </span></div><div class=\"ps12882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Au 31 d\u00e9cembre 2024, ce poste incluait notamment la plus-</span></div><div class=\"ps12883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">value de 91 millions d'euros relative \u00e0 la cession de l'activit\u00e9</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">de Syst\u00e8mes thermiques v\u00e9hicules commerciaux finalis\u00e9e le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:47.27pt\">30 juin 2024.</span></div><div class=\"ps30772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.2<span id=\"i55af2552803c41aa9938dd2c1e8e83ca\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30771\"><span style=\"display:inline-block;height:8.22pt;width:6.88pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Litiges</span></div><div class=\"ps15261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Ce poste inclut les incidences et les frais des conseils</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">juridiques aff\u00e9rents li\u00e9es \u00e0 divers litiges rev\u00eatant un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps15263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">caract\u00e8re inhabituel de par leur nature, leur montant ou leur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.94pt\">ant\u00e9riorit\u00e9.</span></div><div class=\"ps30774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.3<span id=\"i6238a26fee9241e588291592e040f779\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30773\"><span style=\"display:inline-block;height:8.22pt;width:6.86pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Plans de restructuration</span></div><div class=\"ps30775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">En 2025, Valeo a poursuivi ses efforts pour all\u00e9ger sa</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">structure de co\u00fbts et r\u00e9aligner ses capacit\u00e9s de production \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30777 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">la demande de march\u00e9. Ces actions se sont traduites par la</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30497 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">mise en oeuvre de plans de restructuration principalement</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9122 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:188.73pt\">en France, en Allemagne et en Am\u00e9rique du Nord.</span></div><div class=\"ps21987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Les charges de restructuration constat\u00e9es au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">l\u2019exercice 2024 \u00e9taient principalement li\u00e9es au plan de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9organisation de la Division POWER, annonc\u00e9 au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:201.27pt\">l\u2019ann\u00e9e et dont la mise en oeuvre a continu\u00e9 en 2025. </span><span class=\"f charStyle-5f5146f2 ps30778\" style=\"width:2.07pt\"> </span></div><div class=\"ps7756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.19pt\">Ce poste inclut \u00e9galement</span><span class=\"f charStyle-81f42323 ps30780\" style=\"width:123.09pt\"> des charges li\u00e9es aux plans de</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:90.4pt\">pr\u00e9retraite en Allemagne</span><span class=\"f charStyle-165dec60 ps30781\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">5.6.2.4<span id=\"i2f567202da71418caefe989c317019f2\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2539\"><span style=\"display:inline-block;height:8.22pt;width:6.04pt\"></span></span></span><span class=\"f charStyle-9417a400 ps17462\">P</span><span class=\"f charStyle-9417a400 ps30783\">ertes de valeur sur actifs</span></div><div class=\"ps30786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:80.4pt\">Sur l'exercice clos au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps30784\" style=\"width:67.3pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30785\" style=\"width:81.58pt\">, les tests de perte de</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">valeur ont conduit \u00e0 la reprise de pertes de valeur \u00e0 hauteur de</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps30788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">6 millions d\u2019euros sur les actifs de l\u2019unit\u00e9 g\u00e9n\u00e9ratrice de</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps30790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:147.88pt\">tr\u00e9sorerie Commandes sous volant (cf. </span><span class=\"f charStyle-81f42323 ps30789\" style=\"width:81.43pt\">Note 7.4.2, page 420),</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps30791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">augmentant la valeur comptable de ces actifs \u00e0 la valeur qui</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">aurait \u00e9t\u00e9 d\u00e9termin\u00e9e (nette des amortissements) si aucune</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:146.63pt\">perte de valeur n\u2019avait \u00e9t\u00e9 comptabilis\u00e9e.</span></div><div class=\"ps30794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Au 31 d\u00e9cembre 2024, le Groupe avait comptabilis\u00e9 une</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.83pt\">perte </span><span class=\"f charStyle-81f42323 ps30795\" style=\"width:47.89pt\">de valeur de </span><span class=\"f charStyle-165dec60 ps30796\" style=\"width:158.57pt\">48 millions d'euros sur une relation client</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">reconnue dans le cadre de la prise de contr\u00f4le de Valeo</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">eAutomotive en 2022, afin de tenir compte de la r\u00e9vision des</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">avantages \u00e9conomiques futurs attendus d'un contrat avec</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.54pt\">un client.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-476": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">5.6<span id=\"ie88e2f7d28e646809fd8c6ba49b9dfc1\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30721\"><span style=\"display:inline-block;height:10.16pt;width:26.85pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat op\u00e9rationnel et autres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30723 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.1<span id=\"i70a34b865be74202aae2d0df69cfd0a6\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">R\u00e9sultat op\u00e9rationnel<span class=\"f ps53\"> </span></span></div><div class=\"ps30726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:307.39pt\">Le r\u00e9sultat op\u00e9rationnel inclut l\u2019ensemble des produits et des charges autres que\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps26855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:319.44pt\">les produits et charges d\u2019int\u00e9r\u00eats\u00a0constitutifs du Co\u00fbt de l'endettement financier net ;</span></div><div class=\"ps30727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:152.98pt\">les autres produits et charges financiers\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:100.37pt\">les imp\u00f4ts sur les r\u00e9sultats.</span></div><div class=\"ps30732 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:82.54pt\">Sur l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps30730\" style=\"width:69.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps30731\" style=\"width:329.59pt\">, le r\u00e9sultat op\u00e9rationnel y compris la quote-part dans les r\u00e9sultats des soci\u00e9t\u00e9s mises<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:72.21pt\">en\u00a0\u00e9quivalence est <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30733\" style=\"width:44.01pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30734\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps30735\" style=\"width:13.75pt\">789</span><span class=\"f charStyle-165dec60 ps30736\" style=\"width:91.01pt\"> millions d\u2019euros, contre </span><span class=\"f charStyle-165dec60 ps30737\" style=\"width:44.01pt\">un profit de</span><span class=\"f charStyle-165dec60 ps30738\" style=\"width:1.96pt\"> </span><span class=\"f charStyle-165dec60 ps30739\" style=\"width:12.04pt\">618</span><span class=\"f charStyle-165dec60 ps30740\" style=\"width:74.46pt\"> millions d\u2019euros en </span><span class=\"f charStyle-165dec60 ps30741\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30742\" style=\"width:1.59pt\">.</span></div><div class=\"ps30744 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.2<span id=\"i3cb3052ea63f40ab9a725a4dfada25bc\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps14013\"><span style=\"display:inline-block;height:8.71pt;width:12.93pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Au</span><span class=\"f charStyle-b11f9a65 ps19441\">tres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">Afin de faciliter la lecture du compte de r\u00e9sultat et de la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">performance du Groupe, les \u00e9l\u00e9ments inhabituels et</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:36.5pt\">significatif</span><span class=\"f charStyle-b5684510 ps17015\" style=\"width:181.46pt\">s \u00e0 l\u2019\u00e9chelle de l\u2019ensemble consolid\u00e9 sont identifi\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:52.75pt\">sur la ligne </span><span class=\"f charStyle-81f42323 ps30748\" style=\"width:165.22pt\">du r\u00e9sultat op\u00e9rationnel intitul\u00e9e \u00ab\u00a0Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:76.29pt\">produits et charges\u00a0\u00bb.</span></div><div class=\"ps30749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.12pt\">Cette ligne inclut principalement\u00a0:</span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">les plus ou moins-values et les frais de transactions et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:178.79pt\">li\u00e9s \u00e0 l\u2019\u00e9volution du p\u00e9rim\u00e8tre de consolidation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">les litiges majeurs qui ne naissent pas de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">op\u00e9rationnelle du Groupe (sont ainsi exclues les charges</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">relatives aux litiges li\u00e9s \u00e0 la qualit\u00e9 des produits vendus,</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:210.98pt\">aux clients, aux fournisseurs ou \u00e0 des pertes de contrat)\u00a0;</span></div><div class=\"ps30750 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:198.23pt\">les charges nettes li\u00e9es aux plans de restructuration\u00a0;</span></div><div class=\"ps15588 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">les pertes de valeur et reprises sur actifs immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">constat\u00e9es notamment dans le cadre des tests de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.04pt\">d\u00e9pr\u00e9ciations d</span><span class=\"f charStyle-49b0b1fa ps30751\" style=\"width:153.25pt\">es unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT)</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps15591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps26704\" style=\"width:23.92pt\">et des </span><span class=\"f charStyle-639cbf67 ps30752\" style=\"width:31.27pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30753\" style=\"width:1.47pt\">.</span></div><div class=\"ps17606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:63.43pt\">Sur les exercices </span><span class=\"f charStyle-165dec60 ps30755\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30756\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps27633\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30757\" style=\"width:229.73pt\">, les autres produits et charges se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps30765 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss517\"><div><div class=\"ps10243 ss516\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps28263\">Notes explicatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1859\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Plus ou moins-values et frais de transactions li\u00e9s </span></div><div class=\"ps748 ss516\"><span class=\"f charStyle-044fe383 ps10\">\u00e0\u00a0l'\u00e9volution\u00a0du\u00a0p\u00e9rim\u00e8tre de consolidation</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps8015 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps30758\">5.6.2.1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.08pt\"></span></span><span class=\"ps29220\">63<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Litiges<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28134\">5.6.2.2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67pt\"></span></span><span class=\"ps30759\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Plans de restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30760\">5.6.2.3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.9pt\"></span></span><span class=\"ps27736\">(156)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.98pt\"></span></span><span class=\"ps27871\">(305)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur sur actifs</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27480 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30761\">5.6.2.4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.88pt\"></span></span><span class=\"ps30762\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22743 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">AUTRES PRODUITS ET CHARGES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27487 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.2pt\"></span></span><span class=\"ps30763\">(168)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27490 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.03pt\"></span></span><span class=\"ps30764\">(313)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.1<span id=\"i41055b0d4bea477eb4c3b84dd17c200c\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Plus ou moins-values et frais </span></span></div><div class=\"ps30768 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">de\u00a0transactions\u00a0li\u00e9s \u00e0 l'\u00e9volution </span></div><div class=\"ps30769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">du\u00a0p\u00e9rim\u00e8tre\u00a0de\u00a0consolidation</span></div><div class=\"ps22301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Ce poste inclut le r\u00e9sultat des op\u00e9rations de cession</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps22302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.09pt\">pr\u00e9sent\u00e9es en note 3.2.1, page 392.</span><span class=\"f charStyle-165dec60 ps30770\" style=\"width:1.96pt\"> </span></div><div class=\"ps12882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Au 31 d\u00e9cembre 2024, ce poste incluait notamment la plus-</span></div><div class=\"ps12883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">value de 91 millions d'euros relative \u00e0 la cession de l'activit\u00e9</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">de Syst\u00e8mes thermiques v\u00e9hicules commerciaux finalis\u00e9e le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:47.27pt\">30 juin 2024.</span></div><div class=\"ps30772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.2<span id=\"i55af2552803c41aa9938dd2c1e8e83ca\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30771\"><span style=\"display:inline-block;height:8.22pt;width:6.88pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Litiges</span></div><div class=\"ps15261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Ce poste inclut les incidences et les frais des conseils</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">juridiques aff\u00e9rents li\u00e9es \u00e0 divers litiges rev\u00eatant un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps15263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">caract\u00e8re inhabituel de par leur nature, leur montant ou leur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.94pt\">ant\u00e9riorit\u00e9.</span></div><div class=\"ps30774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.3<span id=\"i6238a26fee9241e588291592e040f779\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30773\"><span style=\"display:inline-block;height:8.22pt;width:6.86pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Plans de restructuration</span></div><div class=\"ps30775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">En 2025, Valeo a poursuivi ses efforts pour all\u00e9ger sa</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">structure de co\u00fbts et r\u00e9aligner ses capacit\u00e9s de production \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30777 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">la demande de march\u00e9. Ces actions se sont traduites par la</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30497 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">mise en oeuvre de plans de restructuration principalement</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9122 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:188.73pt\">en France, en Allemagne et en Am\u00e9rique du Nord.</span></div><div class=\"ps21987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Les charges de restructuration constat\u00e9es au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">l\u2019exercice 2024 \u00e9taient principalement li\u00e9es au plan de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9organisation de la Division POWER, annonc\u00e9 au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:201.27pt\">l\u2019ann\u00e9e et dont la mise en oeuvre a continu\u00e9 en 2025. </span><span class=\"f charStyle-5f5146f2 ps30778\" style=\"width:2.07pt\"> </span></div><div class=\"ps7756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.19pt\">Ce poste inclut \u00e9galement</span><span class=\"f charStyle-81f42323 ps30780\" style=\"width:123.09pt\"> des charges li\u00e9es aux plans de</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:90.4pt\">pr\u00e9retraite en Allemagne</span><span class=\"f charStyle-165dec60 ps30781\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">5.6.2.4<span id=\"i2f567202da71418caefe989c317019f2\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2539\"><span style=\"display:inline-block;height:8.22pt;width:6.04pt\"></span></span></span><span class=\"f charStyle-9417a400 ps17462\">P</span><span class=\"f charStyle-9417a400 ps30783\">ertes de valeur sur actifs</span></div><div class=\"ps30786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:80.4pt\">Sur l'exercice clos au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps30784\" style=\"width:67.3pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30785\" style=\"width:81.58pt\">, les tests de perte de</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">valeur ont conduit \u00e0 la reprise de pertes de valeur \u00e0 hauteur de</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps30788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">6 millions d\u2019euros sur les actifs de l\u2019unit\u00e9 g\u00e9n\u00e9ratrice de</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps30790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:147.88pt\">tr\u00e9sorerie Commandes sous volant (cf. </span><span class=\"f charStyle-81f42323 ps30789\" style=\"width:81.43pt\">Note 7.4.2, page 420),</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps30791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">augmentant la valeur comptable de ces actifs \u00e0 la valeur qui</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">aurait \u00e9t\u00e9 d\u00e9termin\u00e9e (nette des amortissements) si aucune</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:146.63pt\">perte de valeur n\u2019avait \u00e9t\u00e9 comptabilis\u00e9e.</span></div><div class=\"ps30794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Au 31 d\u00e9cembre 2024, le Groupe avait comptabilis\u00e9 une</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.83pt\">perte </span><span class=\"f charStyle-81f42323 ps30795\" style=\"width:47.89pt\">de valeur de </span><span class=\"f charStyle-165dec60 ps30796\" style=\"width:158.57pt\">48 millions d'euros sur une relation client</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">reconnue dans le cadre de la prise de contr\u00f4le de Valeo</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">eAutomotive en 2022, afin de tenir compte de la r\u00e9vision des</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">avantages \u00e9conomiques futurs attendus d'un contrat avec</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.54pt\">un client.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-479": {
   "value": "789000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "valeo:ResultatOperationnelYComprisLaQuotePartDansLesResultatsDesSocietesMisesEnEquivalence",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-480": {
   "value": "618000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "valeo:ResultatOperationnelYComprisLaQuotePartDansLesResultatsDesSocietesMisesEnEquivalence",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-482": {
   "value": "<div class=\"ps30744 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.2<span id=\"i3cb3052ea63f40ab9a725a4dfada25bc\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps14013\"><span style=\"display:inline-block;height:8.71pt;width:12.93pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Au</span><span class=\"f charStyle-b11f9a65 ps19441\">tres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">Afin de faciliter la lecture du compte de r\u00e9sultat et de la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">performance du Groupe, les \u00e9l\u00e9ments inhabituels et</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:36.5pt\">significatif</span><span class=\"f charStyle-b5684510 ps17015\" style=\"width:181.46pt\">s \u00e0 l\u2019\u00e9chelle de l\u2019ensemble consolid\u00e9 sont identifi\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:52.75pt\">sur la ligne </span><span class=\"f charStyle-81f42323 ps30748\" style=\"width:165.22pt\">du r\u00e9sultat op\u00e9rationnel intitul\u00e9e \u00ab\u00a0Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:76.29pt\">produits et charges\u00a0\u00bb.</span></div><div class=\"ps30749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.12pt\">Cette ligne inclut principalement\u00a0:</span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">les plus ou moins-values et les frais de transactions et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:178.79pt\">li\u00e9s \u00e0 l\u2019\u00e9volution du p\u00e9rim\u00e8tre de consolidation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">les litiges majeurs qui ne naissent pas de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">op\u00e9rationnelle du Groupe (sont ainsi exclues les charges</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">relatives aux litiges li\u00e9s \u00e0 la qualit\u00e9 des produits vendus,</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:210.98pt\">aux clients, aux fournisseurs ou \u00e0 des pertes de contrat)\u00a0;</span></div><div class=\"ps30750 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:198.23pt\">les charges nettes li\u00e9es aux plans de restructuration\u00a0;</span></div><div class=\"ps15588 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">les pertes de valeur et reprises sur actifs immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">constat\u00e9es notamment dans le cadre des tests de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.04pt\">d\u00e9pr\u00e9ciations d</span><span class=\"f charStyle-49b0b1fa ps30751\" style=\"width:153.25pt\">es unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT)</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps15591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps26704\" style=\"width:23.92pt\">et des </span><span class=\"f charStyle-639cbf67 ps30752\" style=\"width:31.27pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30753\" style=\"width:1.47pt\">.</span></div><div class=\"ps17606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:63.43pt\">Sur les exercices </span><span class=\"f charStyle-165dec60 ps30755\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30756\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps27633\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30757\" style=\"width:229.73pt\">, les autres produits et charges se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps30765 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss517\"><div><div class=\"ps10243 ss516\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps28263\">Notes explicatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1859\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Plus ou moins-values et frais de transactions li\u00e9s </span></div><div class=\"ps748 ss516\"><span class=\"f charStyle-044fe383 ps10\">\u00e0\u00a0l'\u00e9volution\u00a0du\u00a0p\u00e9rim\u00e8tre de consolidation</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps8015 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps30758\">5.6.2.1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.08pt\"></span></span><span class=\"ps29220\">63<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Litiges<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28134\">5.6.2.2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67pt\"></span></span><span class=\"ps30759\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Plans de restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30760\">5.6.2.3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.9pt\"></span></span><span class=\"ps27736\">(156)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.98pt\"></span></span><span class=\"ps27871\">(305)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur sur actifs</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27480 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30761\">5.6.2.4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.88pt\"></span></span><span class=\"ps30762\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22743 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">AUTRES PRODUITS ET CHARGES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27487 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.2pt\"></span></span><span class=\"ps30763\">(168)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27490 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.03pt\"></span></span><span class=\"ps30764\">(313)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.1<span id=\"i41055b0d4bea477eb4c3b84dd17c200c\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Plus ou moins-values et frais </span></span></div><div class=\"ps30768 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">de\u00a0transactions\u00a0li\u00e9s \u00e0 l'\u00e9volution </span></div><div class=\"ps30769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">du\u00a0p\u00e9rim\u00e8tre\u00a0de\u00a0consolidation</span></div><div class=\"ps22301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Ce poste inclut le r\u00e9sultat des op\u00e9rations de cession</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps22302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.09pt\">pr\u00e9sent\u00e9es en note 3.2.1, page 392.</span><span class=\"f charStyle-165dec60 ps30770\" style=\"width:1.96pt\"> </span></div><div class=\"ps12882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Au 31 d\u00e9cembre 2024, ce poste incluait notamment la plus-</span></div><div class=\"ps12883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">value de 91 millions d'euros relative \u00e0 la cession de l'activit\u00e9</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">de Syst\u00e8mes thermiques v\u00e9hicules commerciaux finalis\u00e9e le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:47.27pt\">30 juin 2024.</span></div><div class=\"ps30772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.2<span id=\"i55af2552803c41aa9938dd2c1e8e83ca\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30771\"><span style=\"display:inline-block;height:8.22pt;width:6.88pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Litiges</span></div><div class=\"ps15261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Ce poste inclut les incidences et les frais des conseils</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">juridiques aff\u00e9rents li\u00e9es \u00e0 divers litiges rev\u00eatant un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps15263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">caract\u00e8re inhabituel de par leur nature, leur montant ou leur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.94pt\">ant\u00e9riorit\u00e9.</span></div><div class=\"ps30774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.3<span id=\"i6238a26fee9241e588291592e040f779\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30773\"><span style=\"display:inline-block;height:8.22pt;width:6.86pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Plans de restructuration</span></div><div class=\"ps30775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">En 2025, Valeo a poursuivi ses efforts pour all\u00e9ger sa</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">structure de co\u00fbts et r\u00e9aligner ses capacit\u00e9s de production \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30777 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">la demande de march\u00e9. Ces actions se sont traduites par la</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30497 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">mise en oeuvre de plans de restructuration principalement</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9122 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:188.73pt\">en France, en Allemagne et en Am\u00e9rique du Nord.</span></div><div class=\"ps21987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Les charges de restructuration constat\u00e9es au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">l\u2019exercice 2024 \u00e9taient principalement li\u00e9es au plan de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9organisation de la Division POWER, annonc\u00e9 au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:201.27pt\">l\u2019ann\u00e9e et dont la mise en oeuvre a continu\u00e9 en 2025. </span><span class=\"f charStyle-5f5146f2 ps30778\" style=\"width:2.07pt\"> </span></div><div class=\"ps7756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.19pt\">Ce poste inclut \u00e9galement</span><span class=\"f charStyle-81f42323 ps30780\" style=\"width:123.09pt\"> des charges li\u00e9es aux plans de</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:90.4pt\">pr\u00e9retraite en Allemagne</span><span class=\"f charStyle-165dec60 ps30781\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">5.6.2.4<span id=\"i2f567202da71418caefe989c317019f2\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2539\"><span style=\"display:inline-block;height:8.22pt;width:6.04pt\"></span></span></span><span class=\"f charStyle-9417a400 ps17462\">P</span><span class=\"f charStyle-9417a400 ps30783\">ertes de valeur sur actifs</span></div><div class=\"ps30786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:80.4pt\">Sur l'exercice clos au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps30784\" style=\"width:67.3pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30785\" style=\"width:81.58pt\">, les tests de perte de</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">valeur ont conduit \u00e0 la reprise de pertes de valeur \u00e0 hauteur de</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps30788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">6 millions d\u2019euros sur les actifs de l\u2019unit\u00e9 g\u00e9n\u00e9ratrice de</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps30790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:147.88pt\">tr\u00e9sorerie Commandes sous volant (cf. </span><span class=\"f charStyle-81f42323 ps30789\" style=\"width:81.43pt\">Note 7.4.2, page 420),</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps30791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">augmentant la valeur comptable de ces actifs \u00e0 la valeur qui</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">aurait \u00e9t\u00e9 d\u00e9termin\u00e9e (nette des amortissements) si aucune</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:146.63pt\">perte de valeur n\u2019avait \u00e9t\u00e9 comptabilis\u00e9e.</span></div><div class=\"ps30794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Au 31 d\u00e9cembre 2024, le Groupe avait comptabilis\u00e9 une</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.83pt\">perte </span><span class=\"f charStyle-81f42323 ps30795\" style=\"width:47.89pt\">de valeur de </span><span class=\"f charStyle-165dec60 ps30796\" style=\"width:158.57pt\">48 millions d'euros sur une relation client</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">reconnue dans le cadre de la prise de contr\u00f4le de Valeo</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">eAutomotive en 2022, afin de tenir compte de la r\u00e9vision des</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">avantages \u00e9conomiques futurs attendus d'un contrat avec</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.54pt\">un client.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-481": {
   "value": "<div class=\"ps30744 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">5.6.2<span id=\"i3cb3052ea63f40ab9a725a4dfada25bc\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps14013\"><span style=\"display:inline-block;height:8.71pt;width:12.93pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Au</span><span class=\"f charStyle-b11f9a65 ps19441\">tres produits et charges<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">Afin de faciliter la lecture du compte de r\u00e9sultat et de la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">performance du Groupe, les \u00e9l\u00e9ments inhabituels et</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:36.5pt\">significatif</span><span class=\"f charStyle-b5684510 ps17015\" style=\"width:181.46pt\">s \u00e0 l\u2019\u00e9chelle de l\u2019ensemble consolid\u00e9 sont identifi\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:52.75pt\">sur la ligne </span><span class=\"f charStyle-81f42323 ps30748\" style=\"width:165.22pt\">du r\u00e9sultat op\u00e9rationnel intitul\u00e9e \u00ab\u00a0Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:76.29pt\">produits et charges\u00a0\u00bb.</span></div><div class=\"ps30749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.12pt\">Cette ligne inclut principalement\u00a0:</span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">les plus ou moins-values et les frais de transactions et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:178.79pt\">li\u00e9s \u00e0 l\u2019\u00e9volution du p\u00e9rim\u00e8tre de consolidation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps30747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">les litiges majeurs qui ne naissent pas de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7868 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">op\u00e9rationnelle du Groupe (sont ainsi exclues les charges</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">relatives aux litiges li\u00e9s \u00e0 la qualit\u00e9 des produits vendus,</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps7870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:210.98pt\">aux clients, aux fournisseurs ou \u00e0 des pertes de contrat)\u00a0;</span></div><div class=\"ps30750 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:198.23pt\">les charges nettes li\u00e9es aux plans de restructuration\u00a0;</span></div><div class=\"ps15588 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">les pertes de valeur et reprises sur actifs immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15589 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">constat\u00e9es notamment dans le cadre des tests de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps15590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.04pt\">d\u00e9pr\u00e9ciations d</span><span class=\"f charStyle-49b0b1fa ps30751\" style=\"width:153.25pt\">es unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT)</span><span class=\"f charStyle-49b0b1fa ps16295\" style=\"width:1.84pt\"> </span></div><div class=\"ps15591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps26704\" style=\"width:23.92pt\">et des </span><span class=\"f charStyle-639cbf67 ps30752\" style=\"width:31.27pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps30753\" style=\"width:1.47pt\">.</span></div><div class=\"ps17606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:63.43pt\">Sur les exercices </span><span class=\"f charStyle-165dec60 ps30755\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps30756\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps27633\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30757\" style=\"width:229.73pt\">, les autres produits et charges se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps30765 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss517\"><div><div class=\"ps10243 ss516\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps28263\">Notes explicatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1859\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Plus ou moins-values et frais de transactions li\u00e9s </span></div><div class=\"ps748 ss516\"><span class=\"f charStyle-044fe383 ps10\">\u00e0\u00a0l'\u00e9volution\u00a0du\u00a0p\u00e9rim\u00e8tre de consolidation</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps8015 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps30758\">5.6.2.1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.08pt\"></span></span><span class=\"ps29220\">63<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Litiges<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27469 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28134\">5.6.2.2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27470 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27472 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67pt\"></span></span><span class=\"ps30759\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Plans de restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27474 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30760\">5.6.2.3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.9pt\"></span></span><span class=\"ps27736\">(156)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.98pt\"></span></span><span class=\"ps27871\">(305)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur sur actifs</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27480 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps30761\">5.6.2.4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.88pt\"></span></span><span class=\"ps30762\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22743 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">AUTRES PRODUITS ET CHARGES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27487 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.2pt\"></span></span><span class=\"ps30763\">(168)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27490 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.03pt\"></span></span><span class=\"ps30764\">(313)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.1<span id=\"i41055b0d4bea477eb4c3b84dd17c200c\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Plus ou moins-values et frais </span></span></div><div class=\"ps30768 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">de\u00a0transactions\u00a0li\u00e9s \u00e0 l'\u00e9volution </span></div><div class=\"ps30769 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">du\u00a0p\u00e9rim\u00e8tre\u00a0de\u00a0consolidation</span></div><div class=\"ps22301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Ce poste inclut le r\u00e9sultat des op\u00e9rations de cession</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps22302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.09pt\">pr\u00e9sent\u00e9es en note 3.2.1, page 392.</span><span class=\"f charStyle-165dec60 ps30770\" style=\"width:1.96pt\"> </span></div><div class=\"ps12882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Au 31 d\u00e9cembre 2024, ce poste incluait notamment la plus-</span></div><div class=\"ps12883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">value de 91 millions d'euros relative \u00e0 la cession de l'activit\u00e9</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">de Syst\u00e8mes thermiques v\u00e9hicules commerciaux finalis\u00e9e le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12886 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:47.27pt\">30 juin 2024.</span></div><div class=\"ps30772 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.2<span id=\"i55af2552803c41aa9938dd2c1e8e83ca\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30771\"><span style=\"display:inline-block;height:8.22pt;width:6.88pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Litiges</span></div><div class=\"ps15261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Ce poste inclut les incidences et les frais des conseils</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15262 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">juridiques aff\u00e9rents li\u00e9es \u00e0 divers litiges rev\u00eatant un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps15263 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">caract\u00e8re inhabituel de par leur nature, leur montant ou leur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.94pt\">ant\u00e9riorit\u00e9.</span></div><div class=\"ps30774 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">5.6.2.3<span id=\"i6238a26fee9241e588291592e040f779\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30773\"><span style=\"display:inline-block;height:8.22pt;width:6.86pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Plans de restructuration</span></div><div class=\"ps30775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">En 2025, Valeo a poursuivi ses efforts pour all\u00e9ger sa</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30776 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">structure de co\u00fbts et r\u00e9aligner ses capacit\u00e9s de production \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30777 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">la demande de march\u00e9. Ces actions se sont traduites par la</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30497 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">mise en oeuvre de plans de restructuration principalement</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9122 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:188.73pt\">en France, en Allemagne et en Am\u00e9rique du Nord.</span></div><div class=\"ps21987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Les charges de restructuration constat\u00e9es au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">l\u2019exercice 2024 \u00e9taient principalement li\u00e9es au plan de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps7754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9organisation de la Division POWER, annonc\u00e9 au cours de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:201.27pt\">l\u2019ann\u00e9e et dont la mise en oeuvre a continu\u00e9 en 2025. </span><span class=\"f charStyle-5f5146f2 ps30778\" style=\"width:2.07pt\"> </span></div><div class=\"ps7756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.19pt\">Ce poste inclut \u00e9galement</span><span class=\"f charStyle-81f42323 ps30780\" style=\"width:123.09pt\"> des charges li\u00e9es aux plans de</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps7757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:90.4pt\">pr\u00e9retraite en Allemagne</span><span class=\"f charStyle-165dec60 ps30781\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">5.6.2.4<span id=\"i2f567202da71418caefe989c317019f2\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2539\"><span style=\"display:inline-block;height:8.22pt;width:6.04pt\"></span></span></span><span class=\"f charStyle-9417a400 ps17462\">P</span><span class=\"f charStyle-9417a400 ps30783\">ertes de valeur sur actifs</span></div><div class=\"ps30786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:80.4pt\">Sur l'exercice clos au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps30784\" style=\"width:67.3pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30785\" style=\"width:81.58pt\">, les tests de perte de</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">valeur ont conduit \u00e0 la reprise de pertes de valeur \u00e0 hauteur de</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps30788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">6 millions d\u2019euros sur les actifs de l\u2019unit\u00e9 g\u00e9n\u00e9ratrice de</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps30790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:147.88pt\">tr\u00e9sorerie Commandes sous volant (cf. </span><span class=\"f charStyle-81f42323 ps30789\" style=\"width:81.43pt\">Note 7.4.2, page 420),</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps30791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">augmentant la valeur comptable de ces actifs \u00e0 la valeur qui</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">aurait \u00e9t\u00e9 d\u00e9termin\u00e9e (nette des amortissements) si aucune</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:146.63pt\">perte de valeur n\u2019avait \u00e9t\u00e9 comptabilis\u00e9e.</span></div><div class=\"ps30794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Au 31 d\u00e9cembre 2024, le Groupe avait comptabilis\u00e9 une</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.83pt\">perte </span><span class=\"f charStyle-81f42323 ps30795\" style=\"width:47.89pt\">de valeur de </span><span class=\"f charStyle-165dec60 ps30796\" style=\"width:158.57pt\">48 millions d'euros sur une relation client</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">reconnue dans le cadre de la prise de contr\u00f4le de Valeo</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">eAutomotive en 2022, afin de tenir compte de la r\u00e9vision des</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">avantages \u00e9conomiques futurs attendus d'un contrat avec</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.54pt\">un client.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-483": {
   "value": "<div class=\"ps30767 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">5.6.2.4<span id=\"i2f567202da71418caefe989c317019f2\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2539\"><span style=\"display:inline-block;height:8.22pt;width:6.04pt\"></span></span></span><span class=\"f charStyle-9417a400 ps17462\">P</span><span class=\"f charStyle-9417a400 ps30783\">ertes de valeur sur actifs</span></div><div class=\"ps30786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:80.4pt\">Sur l'exercice clos au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps30784\" style=\"width:67.3pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30785\" style=\"width:81.58pt\">, les tests de perte de</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30787 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.26pt\">valeur ont conduit \u00e0 la reprise de pertes de valeur \u00e0 hauteur de</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps30788 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.32pt\">6 millions d\u2019euros sur les actifs de l\u2019unit\u00e9 g\u00e9n\u00e9ratrice de</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps30790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:147.88pt\">tr\u00e9sorerie Commandes sous volant (cf. </span><span class=\"f charStyle-81f42323 ps30789\" style=\"width:81.43pt\">Note 7.4.2, page 420),</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps30791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">augmentant la valeur comptable de ces actifs \u00e0 la valeur qui</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">aurait \u00e9t\u00e9 d\u00e9termin\u00e9e (nette des amortissements) si aucune</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:146.63pt\">perte de valeur n\u2019avait \u00e9t\u00e9 comptabilis\u00e9e.</span></div><div class=\"ps30794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Au 31 d\u00e9cembre 2024, le Groupe avait comptabilis\u00e9 une</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.83pt\">perte </span><span class=\"f charStyle-81f42323 ps30795\" style=\"width:47.89pt\">de valeur de </span><span class=\"f charStyle-165dec60 ps30796\" style=\"width:158.57pt\">48 millions d'euros sur une relation client</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">reconnue dans le cadre de la prise de contr\u00f4le de Valeo</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">eAutomotive en 2022, afin de tenir compte de la r\u00e9vision des</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">avantages \u00e9conomiques futurs attendus d'un contrat avec</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:34.54pt\">un client.</span></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.4<span id=\"i0fc2eedb7cfd4cb29a77d52027ca9ed2\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps32394\"><span style=\"display:inline-block;height:10.16pt;width:26.03pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Pertes de valeur sur actifs immobilis\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les immobilisations incorporelles et corporelles ayant une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.96pt\">dur\u00e9e d\u2019utilit\u00e9 d\u00e9termin\u00e9e font l\u2019objet de tests de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps608\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:45.53pt\">d\u00e9pr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps32396\" style=\"width:172.39pt\"> d\u00e8s lors qu\u2019il existe des indices objectifs de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:90.28pt\">perte de valeur. Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps32397\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32398\" style=\"width:95.48pt\"> et les immobilisations</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">incorporelles non encore pr\u00eates \u00e0 \u00eatre mises en service</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">font l\u2019objet de tests de d\u00e9pr\u00e9ciation d\u00e8s l\u2019apparition</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.89pt\">d\u2019indices de perte de valeur et en tout \u00e9tat de cause au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.95pt\">minimum une fois par an.<span class=\"f ps53\"> </span></span></div><div class=\"ps32400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie et <span id=\"iee563d9935cf4586a0d65c650a508101\"></span></span><span class=\"f charStyle-77ede7ab ps32399\">goodwill</span></div><div class=\"ps32401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT) sont des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32403 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:31.23pt\">entit\u00e9s </span><span class=\"f charStyle-49b0b1fa ps32402\" style=\"width:186.73pt\">op\u00e9rationnelles g\u00e9n\u00e9rant des flux de tr\u00e9sorerie</span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> </span></div><div class=\"ps32405 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:62.15pt\">ind\u00e9pendants. </span><span class=\"f charStyle-56831d77 ps32404\" style=\"width:155.8pt\">Dans l\u2019organisation du Groupe, elles<span class=\"f ps53\"> </span></span><span class=\"f charStyle-56831d77 ps425\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps28150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps6588\" style=\"width:105.63pt\">correspondent g\u00e9n\u00e9ralemen</span><span class=\"f charStyle-165dec60 ps32406\" style=\"width:112.32pt\">t \u00e0 des regroupements de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps21258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sites de production appartenant \u00e0 une m\u00eame Ligne de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Produits, au m\u00eame Groupe de Produits ou \u00e0 la m\u00eame<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.27pt\">Op\u00e9ration R\u00e9gionale. Au </span><span class=\"f charStyle-165dec60 ps32407\" style=\"width:69.08pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32408\" style=\"width:52.6pt\">, les UGT sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12039 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.13pt\">au nombre de 19.</span></div><div class=\"ps13986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.95pt\">C\u2019est \u00e0 ce niveau que l\u2019ensemble des immobilisations</span><span class=\"f charStyle-5d6922b3 ps425\" style=\"width:1.66pt\"> </span></div><div class=\"ps13987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:41.26pt\">incorporelle</span><span class=\"f charStyle-165dec60 ps20276\" style=\"width:176.67pt\">s et corporelles est test\u00e9, en cas d\u2019indice de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">perte de valeur, \u00e0 l\u2019exception des immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:106.77pt\">incorporelles et corporelles </span><span class=\"f charStyle-81f42323 ps32409\" style=\"width:111.21pt\">inutilis\u00e9es qui font l\u2019objet d\u2019un</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps13990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:114.41pt\">test de d\u00e9pr\u00e9ciation sp\u00e9cifique.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13598\" style=\"width:103.57pt\"> La survenance de facteurs</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13991 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">d\u00e9favorables d\u2019une significativit\u00e9 particuli\u00e8re et durable<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32410 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">pour le Groupe, tels que notamment la d\u00e9gradation de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32411 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">l\u2019environnement \u00e9conomique d\u2019un pays, d\u2019une usine ou</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps26638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de l\u2019existence de litiges contractuels, peut conduire le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps26639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Groupe \u00e0 r\u00e9examiner la valeur d\u2019utilit\u00e9 des actifs affect\u00e9s</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">et \u00e0 reconnaitre une d\u00e9pr\u00e9ciation \u00e0 caract\u00e8re</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:146.4pt\">exceptionnel pour certains d\u2019entre eux.<span class=\"f ps53\"> </span></span></div><div class=\"ps32415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.66pt\">Les </span><span class=\"f charStyle-e8054d08 ps32413\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32414\" style=\"width:171.07pt\"> sont test\u00e9s au niveau des Divisions telles que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:68.28pt\">d\u00e9finies dans la </span><span class=\"f charStyle-165dec60 ps32416\" style=\"width:28.04pt\">Note 4</span><span class=\"f charStyle-165dec60 ps32417\" style=\"width:121.57pt\">, pages 393 \u00e0 395,\u00a0 relative \u00e0</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps21545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">l\u2019information sectorielle. Les Divisions correspondent \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des regroupements d\u2019UGT qui repr\u00e9sentent les niveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps21549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.9pt\">auxquels les </span><span class=\"f charStyle-e8054d08 ps32418\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5232\" style=\"width:95.48pt\"> sont suivis par le Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:15.14pt\">Les </span><span class=\"f charStyle-e8054d08 ps32419\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps26810\" style=\"width:170.62pt\"> font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation annuel</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">en fin d\u2019ann\u00e9e suivant la m\u00eame m\u00e9thode et les m\u00eames</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">hypoth\u00e8ses que celles retenues pour les UGT, telles que</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:73.04pt\">d\u00e9crites ci-dessous.</span></div><div class=\"ps32420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Test de d\u00e9pr\u00e9ciation<span id=\"ic9a3c56f230342709fdd88eb6c299abe\"></span></span></div><div class=\"ps21302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Le test de d\u00e9pr\u00e9ciation consiste \u00e0 comparer la valeur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps19237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.97pt\">recouvrable d\u2019un actif immobilis\u00e9 \u00e0 sa valeur nette</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps20381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:40.82pt\">comptable.</span><span class=\"f charStyle-165dec60 ps32421\" style=\"width:2.58pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps32422\" style=\"width:174.52pt\">Si la valeur comptable est sup\u00e9rieure \u00e0 la valeur</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps32424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:44.02pt\">recouvrable,</span><span class=\"f charStyle-165dec60 ps32423\" style=\"width:173.95pt\"> l\u2019actif correspondant est ramen\u00e9 \u00e0 sa valeur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps32425 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">recouvrable. La valeur recouvrable d\u2019un actif ou d\u2019un</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">groupe d\u2019actifs est la valeur la plus \u00e9lev\u00e9e entre sa juste</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps15259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:210.05pt\">valeur diminu\u00e9e des co\u00fbts de sortie et sa valeur d\u2019utilit\u00e9.</span></div><div class=\"ps19245 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La juste valeur diminu\u00e9e des co\u00fbts de sortie est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9termin\u00e9e sur la base des informations disponibles</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps6633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">permettant de r\u00e9aliser la meilleure estimation de la valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">de vente nette des co\u00fbts n\u00e9cessaires pour r\u00e9aliser la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">vente, dans des conditions de concurrence normale entre</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:163.66pt\">des parties bien inform\u00e9es et consentantes.</span></div><div class=\"ps6637 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">La valeur d\u2019utilit\u00e9 correspond \u00e0 la valeur actuelle des flux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">de tr\u00e9sorerie futurs que l\u2019on esp\u00e8re obtenir d\u2019un actif ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">d\u2019un groupe d\u2019actifs, en tenant compte de sa valeur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps6640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:37.99pt\">r\u00e9siduelle.</span></div><div class=\"ps6641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:103.35pt\">Pour les tests d\u2019UGT et de </span><span class=\"f charStyle-e8054d08 ps32428\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32429\" style=\"width:82.4pt\">, compte tenu du fait</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">qu\u2019il existe rarement une base fiable pour \u00e9valuer la juste</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">valeur diminu\u00e9e des co\u00fbts de sortie d\u2019un groupe d\u2019actifs</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">du Groupe, Valeo utilise, sauf indication contraire, la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">valeur d\u2019utilit\u00e9 pour d\u00e9terminer la valeur recouvrable d\u2019un</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:106.22pt\">actif ou d\u2019un groupe d\u2019actifs.<span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:125.78pt\">La valeur d\u2019utilit\u00e9 des UGT et des </span><span class=\"f charStyle-e8054d08 ps32430\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32431\" style=\"width:59.9pt\"> est d\u00e9termin\u00e9e</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.56pt\">selon la m\u00e9thode suivante\u00a0:</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les projections \u00e0 cinq ans des flux de tr\u00e9sorerie apr\u00e8s</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">imp\u00f4ts, \u00e9tablies \u00e0 partir des plans \u00e0 moyen terme</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">pr\u00e9par\u00e9s par les entit\u00e9s du Groupe et approuv\u00e9s par la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">Direction G\u00e9n\u00e9rale et le Conseil d\u2019Administration, sont</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:45.09pt\">actualis\u00e9es\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2113 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">au-del\u00e0 de ces cinq ann\u00e9es, les flux futurs de tr\u00e9sorerie \u00e0</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">perp\u00e9tuit\u00e9 sont extrapol\u00e9s \u00e0 partir d\u2019un taux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">croissance \u00e0 l\u2019infini appliqu\u00e9 sur la pr\u00e9vision de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">tr\u00e9sorerie normative, qui correspond \u00e0 celle de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:138.43pt\">derni\u00e8re ann\u00e9e du plan moyen </span><span class=\"f charStyle-9c680f66 ps32432\" style=\"width:73.86pt\">terme, retrait\u00e9e si</span><span class=\"f charStyle-9c680f66 ps16295\" style=\"width:1.93pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps26704\" style=\"width:152.34pt\">n\u00e9cessaire des \u00e9l\u00e9ments non r\u00e9currents\u00a0;</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">l\u2019actualisation des flux de tr\u00e9sorerie est effectu\u00e9e selon</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">un taux qui refl\u00e8te l\u2019appr\u00e9ciation courante du march\u00e9</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">de la valeur temps de l\u2019argent et des risques sp\u00e9cifiques</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">\u00e0 l\u2019actif (ou groupe d\u2019actifs). Ce taux correspond au co\u00fbt</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps8857 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">moyen pond\u00e9r\u00e9 du capital (WACC) apr\u00e8s imp\u00f4ts.</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps8858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:64.67pt\">L\u2019utilisation d\u2019un </span><span class=\"f charStyle-81f42323 ps32433\" style=\"width:147.65pt\">taux apr\u00e8s imp\u00f4ts appliqu\u00e9 \u00e0 des flux de</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps8859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:67.99pt\">tr\u00e9sorerie fiscalis\u00e9s</span><span class=\"f charStyle-165dec60 ps32434\" style=\"width:3.05pt\"> </span><span class=\"f charStyle-367d076b ps32435\" style=\"width:141.25pt\">aboutit \u00e0 la d\u00e9termination de valeurs</span><span class=\"f charStyle-367d076b ps16295\" style=\"width:1.88pt\"> </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps26704\" style=\"width:80.45pt\">recouvrables similaire</span><span class=\"f charStyle-81f42323 ps32436\" style=\"width:3.48pt\">s</span><span class=\"f charStyle-165dec60 ps32437\" style=\"width:128.36pt\"> \u00e0 celles obtenues en utilisant des</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:207.63pt\">taux avant imp\u00f4ts \u00e0 des flux de tr\u00e9sorerie non fiscalis\u00e9s.</span></div><div class=\"ps8863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:217.95pt\">Dans certaines circonstances o\u00f9 l'application de cette</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:34.27pt\">m\u00e9thode</span><span class=\"f charStyle-165dec60 ps32438\" style=\"width:183.66pt\"> n'est pas appropri\u00e9e pour d\u00e9terminer la valeur</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:108.97pt\">d'utilit\u00e9 d'une UGT ou d'un </span><span class=\"f charStyle-e8054d08 ps32439\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32440\" style=\"width:76.73pt\">, des projections de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">flux de tr\u00e9sorerie au-del\u00e0 de cinq ans peuvent \u00eatre</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">utilis\u00e9es. Cela peut \u00eatre le cas pour des march\u00e9s en forte</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps20017 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">croissance qui ne seront pas matures en fin de plan ainsi</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps20019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">que pour les activit\u00e9s avec un horizon de temps fini.</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps16317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque cette m\u00e9thode est appliqu\u00e9e, le plan d'affaires</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps20020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">au-del\u00e0 de cinq ans est \u00e9tabli \u00e0 partir des donn\u00e9es de</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps20021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:123.25pt\">march\u00e9 les plus fiables possibles.</span><span class=\"f charStyle-165dec60 ps32441\" style=\"width:1.96pt\"> </span></div><div class=\"ps22328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Les contrats de location dans le champ d'application de la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps22330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IFRS 16 \u00ab\u00a0Contrats de location\u00a0\u00bb sont trait\u00e9s de la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.85pt\">mani\u00e8re suivante\u00a0:</span></div><div class=\"ps8880 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a33a3989 ps448\" style=\"width:2.61pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps26704\" style=\"width:212.27pt\">les capitaux employ\u00e9s test\u00e9s incluent les droits</span><span class=\"f charStyle-5064d44f ps16283\" style=\"width:1.89pt\"> </span></div><div class=\"ps8881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps26704\" style=\"width:46.18pt\">d\u2019utilisation ;</span></div><div class=\"ps12430 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">le co\u00fbt moyen pond\u00e9r\u00e9 du capital (WACC) apr\u00e8s imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">est d\u00e9termin\u00e9 en tenant compte des dettes sur biens</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps12432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:21.53pt\">lou\u00e9s.</span></div><div class=\"ps32444 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.73pt\">Une perte de valeur comptabilis\u00e9e au titre d\u2019un </span><span class=\"f charStyle-e8054d08 ps32443\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32445 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.67pt\">ne peut \u00eatre reprise.</span></div><div class=\"ps26610 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:184.16pt\">Une perte de valeur, sur un actif autre qu\u2019un </span><span class=\"f charStyle-e8054d08 ps32446\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31604\" style=\"width:1.59pt\">,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32447 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">peut \u00eatre reprise s\u2019il existe des indices que la perte de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:31.6pt\">valeur a </span><span class=\"f charStyle-1abed7d4 ps32448\" style=\"width:186.3pt\">diminu\u00e9 ou n\u2019existe plus. Le montant de la reprise</span><span class=\"f charStyle-1abed7d4 ps29741\" style=\"width:1.93pt\"> </span></div><div class=\"ps30672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps448\" style=\"width:41.65pt\">\u00e9ventuelle </span><span class=\"f charStyle-165dec60 ps32450\" style=\"width:176.33pt\">est alors bas\u00e9 sur les nouvelles estimations de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur recouvrable. La valeur comptable d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">augment\u00e9e en raison de la reprise d\u2019une perte de valeur</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">ne peut \u00eatre sup\u00e9rieure \u00e0 la valeur comptable qui aurait</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">\u00e9t\u00e9 d\u00e9termin\u00e9e si aucune perte de valeur n\u2019avait \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:54.83pt\">comptabilis\u00e9e.</span></div><div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.4.1<span id=\"i2e080515fe6c49b99436b68dfdde58e6\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps27266\"><span style=\"display:inline-block;height:8.71pt;width:14.02pt\"></span></span><span class=\"ps29285\">Modalit\u00e9s des tests de perte de valeur</span></span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:201.15pt\">Les tests sont r\u00e9alis\u00e9s selon les hypoth\u00e8ses suivantes\u00a0:</span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps626\" style=\"width:222.2pt\">les pr\u00e9visions utilis\u00e9es sont fond\u00e9es sur l\u2019exp\u00e9rience pass\u00e9e,</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps626\" style=\"width:9.78pt\">les</span><span class=\"f charStyle-165dec60 ps32458\" style=\"width:4.96pt\"> </span><span class=\"f charStyle-5d6922b3 ps32459\" style=\"width:207.5pt\">donn\u00e9es macro\u00e9conomiques concernant le march\u00e9 de</span><span class=\"f charStyle-5d6922b3 ps412\" style=\"width:1.66pt\"> </span></div><div class=\"ps32461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps626\" style=\"width:44.77pt\">l\u2019automobile,</span><span class=\"f charStyle-165dec60 ps2686\" style=\"width:177.43pt\"> les prises de commandes et les produits en</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:63.74pt\">d\u00e9veloppement\u00a0;</span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps626\" style=\"width:165.29pt\">le taux de croissance \u00e0 l\u2019infini s\u2019\u00e9tablit \u00e0 </span><span class=\"f charStyle-81f42323 ps32463\" style=\"width:18.93pt\">1,5 %</span><span class=\"f charStyle-81f42323 ps32464\" style=\"width:37.98pt\">. Ce taux,</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps4015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps626\" style=\"width:37.88pt\">identique </span><span class=\"f charStyle-9c680f66 ps32465\" style=\"width:115.42pt\">\u00e0 celui retenu pour l\u2019exercice </span><span class=\"f charStyle-9c680f66 ps32466\" style=\"width:18.29pt\">2024</span><span class=\"f charStyle-9c680f66 ps32467\" style=\"width:50.62pt\">, est en ligne</span><span class=\"f charStyle-9c680f66 ps608\" style=\"width:1.93pt\"> </span></div><div class=\"ps4016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps626\" style=\"width:61.44pt\">avec le taux de </span><span class=\"f charStyle-42e3db84 ps5886\" style=\"width:160.78pt\">croissance moyen \u00e0 long terme du secteur</span><span class=\"f charStyle-42e3db84 ps418\" style=\"width:1.82pt\"> </span></div><div class=\"ps4017 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps626\" style=\"width:76.65pt\">d\u2019activit\u00e9 du Groupe\u00a0;</span></div><div class=\"ps26818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">le taux d\u2019actualisation (WACC), calcul\u00e9 selon une m\u00e9thode</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:3.92pt\">\u00a0 </span></div><div class=\"ps26820 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:173.68pt\">revue par un expert ind\u00e9pendant, s\u2019\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-165dec60 ps32468\" style=\"width:24.11pt\">10,0 %</span><span class=\"f charStyle-165dec60 ps32469\" style=\"width:24.38pt\"> apr\u00e8s</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps26822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:186.57pt\">imp\u00f4ts, identique \u00e0 celui retenu pour l'exercice </span><span class=\"f charStyle-9c680f66 ps32470\" style=\"width:18.29pt\">2024</span><span class=\"f charStyle-165dec60 ps32471\" style=\"width:17.38pt\">. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps26825 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">principales composantes du co\u00fbt moyen pond\u00e9r\u00e9 du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps26826 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">capital sont une prime de risque march\u00e9, un taux sans</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30606 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">risque correspondant \u00e0 une moyenne des taux d\u2019int\u00e9r\u00eat</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps32472 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.23pt\">des emprunts d\u2019\u00c9tat de maturit\u00e9 \u00e9lev\u00e9e, un b\u00eata calcul\u00e9</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps15083 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">sur la base d\u2019un \u00e9chantillon des entreprises du secteur qui</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps32475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:95.57pt\">s\u2019\u00e9tablit \u00e0 0,86 (0,96 en </span><span class=\"f charStyle-165dec60 ps32473\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32474\" style=\"width:108.21pt\">). Comme en 2024, compte</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">tenu du niveau d'incertitudes auquel est confront\u00e9 le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29467 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">secteur, Valeo a retenu un taux correspondant au haut de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29468 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:112.66pt\">la fourchette de taux calcul\u00e9e.</span></div><div class=\"ps13600 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Ces hypoth\u00e8ses cl\u00e9s relatives au taux de croissance \u00e0 l\u2019infini</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps13602 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.36pt\">et </span><span class=\"f charStyle-81f42323 ps14838\" style=\"width:214.95pt\">au taux d\u2019actualisation sont identiques pour chaque</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps13603 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:61.28pt\">regroupement d</span><span class=\"f charStyle-165dec60 ps32476\" style=\"width:115.49pt\">\u2019UGT auquel sont affect\u00e9s les </span><span class=\"f charStyle-e8054d08 ps32477\" style=\"width:35.35pt\">goodwill </span><span class=\"f charStyle-165dec60 ps32478\" style=\"width:17.17pt\">ainsi</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32480 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:78.42pt\">que pour les UGT </span><span class=\"f charStyle-9206869b ps32479\" style=\"width:150.88pt\">ayant une implantation g\u00e9ographique<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:120.77pt\">mondiale et une pr\u00e9sence</span><span class=\"f charStyle-165dec60 ps20459\" style=\"width:108.54pt\"> aupr\u00e8s des principaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps32482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">constructeurs automobiles mondiaux. Pour les UGT de la</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Division POWER, d\u00e9finies au niveau des Op\u00e9rations</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps1289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">R\u00e9gionales, les tests ont \u00e9t\u00e9 r\u00e9alis\u00e9s \u00e0 partir d'un co\u00fbt moyen</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps1290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">pond\u00e9r\u00e9 du capital et d'un taux de croissance \u00e0 l'infini li\u00e9s</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps1291 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:152.09pt\">aux principaux pays o\u00f9 op\u00e8rent ces UGT.</span></div><div class=\"ps13615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps275\" style=\"width:229.31pt\">Pour construire les plans \u00e0 moyen terme qui ont \u00e9t\u00e9 utilis\u00e9s</span><span class=\"f charStyle-367d076b ps418\" style=\"width:1.88pt\"> </span></div><div class=\"ps27288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps275\" style=\"width:21.42pt\">pour </span><span class=\"f charStyle-165dec60 ps32484\" style=\"width:207.89pt\">r\u00e9aliser les tests de perte de valeur des UGT et des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps27289 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps4373\" style=\"width:197.1pt\">, le Groupe s\u2019est appuy\u00e9 sur les donn\u00e9es</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">pr\u00e9visionnelles du march\u00e9 automobile, ainsi que sur ses</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps20987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">prises de commandes et ses perspectives de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32485 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:61.78pt\">d\u00e9veloppement.</span></div><div class=\"ps13624 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Les pr\u00e9visions sont construites au niveau le plus fin, par UGT,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">en se basant sur les donn\u00e9es pr\u00e9visionnelles d\u00e9taill\u00e9es du</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps20989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">march\u00e9 automobile par pays, par constructeur et par</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps20990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">mod\u00e8le ou motorisation et en prenant en compte les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">d\u00e9veloppements pr\u00e9vus suite aux prises de commandes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:134.53pt\">enregistr\u00e9es et envisag\u00e9es de l\u2019UGT.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.8pt\">Les plans \u00e0 moyen terme pour la p\u00e9riode </span><span class=\"f charStyle-165dec60 ps32486\" style=\"width:18.02pt\">2026</span><span class=\"f charStyle-165dec60 ps32487\" style=\"width:2.86pt\">-</span><span class=\"f charStyle-165dec60 ps32488\" style=\"width:18.39pt\">2030</span><span class=\"f charStyle-165dec60 ps32489\" style=\"width:20.22pt\"> sont</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.79pt\">fond\u00e9s sur\u00a0:</span></div><div class=\"ps3688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:209.63pt\">une hypoth\u00e8se de production automobile mondiale de </span><span class=\"f charStyle-bd02d35c ps32490\" style=\"width:12.61pt\">91,9</span><span class=\"f charStyle-bd02d35c ps450\" style=\"width:1.76pt\"> </span></div><div class=\"ps4207 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps930\" style=\"width:222.21pt\">millions de v\u00e9hicules l\u00e9gers \u00e0 l\u2019horizon 2030, soit une</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps930\" style=\"width:220.75pt\">croissance moyenne de 0,1\u00a0% par an sur la p\u00e9riode 2025-2030</span><span class=\"f charStyle-81f42323 ps32491\" style=\"width:1.41pt\">.</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">Cette hypoth\u00e8se de production est coh\u00e9rente avec les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.2pt\">pr\u00e9visions de Standard &amp; Poor\u2019s et s\u2019inscrit en l\u00e9g\u00e8re baisse</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">par rapport aux pr\u00e9visions retenues lors de l\u2019exercice 2024</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:159.73pt\">dans le plan \u00e0 moyen terme 2025-2029. </span><span class=\"f charStyle-5dca4c00 ps32492\" style=\"width:62.44pt\">\u00c0\u00a0l\u2019horizon de ce</span><span class=\"f charStyle-5dca4c00 ps471\" style=\"width:1.74pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps930\" style=\"width:175.85pt\">nouveau plan, l'Asie et le Moyen-Orient devraient</span><span class=\"f charStyle-165dec60 ps32493\" style=\"width:46.36pt\"> repr\u00e9senter</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">60\u00a0% de la production totale, l'Europe et l'Afrique 20\u00a0%,</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:191.33pt\">l\u2019Am\u00e9rique du Nord 16\u00a0% et l'Am\u00e9rique du Sud 4\u00a0%\u00a0;</span></div><div class=\"ps2339 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">une part croissante des solutions d'\u00e9lectrification dans les</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">pr\u00e9visions de march\u00e9 et de ventes du Groupe sur la dur\u00e9e</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">du plan moyen terme. Ces pr\u00e9visions tiennent compte des</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2267 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">\u00e9volutions annonc\u00e9es en 2025 par certains constructeurs</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:3.92pt\">\u00a0 </span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:133.62pt\">dans leur strat\u00e9gie d\u2019\u00e9lectrification ;</span></div><div class=\"ps2342 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">des hypoth\u00e8ses d'inflation d\u00e9termin\u00e9es au moment de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2343 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">l\u2019\u00e9laboration des plans qui s'appuient d'une part sur les</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps2344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">pr\u00e9visions d'un panel de banques et du Fonds mon\u00e9taire</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2345 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">international pour l'inflation g\u00e9n\u00e9rale des prix et d'autre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:17.8pt\">part </span><span class=\"f charStyle-81f42323 ps32494\" style=\"width:204.41pt\">sur des estimations internes des prix de march\u00e9 pour les</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps2347 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps930\" style=\"width:41.8pt\">mati\u00e8res </span><span class=\"f charStyle-165dec60 ps32495\" style=\"width:180.43pt\">premi\u00e8res, les composants \u00e9lectroniques,</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:94.64pt\">l'\u00e9nergie et les transports</span><span class=\"f charStyle-165dec60 ps32496\" style=\"width:3.55pt\"> ;</span></div><div class=\"ps2349 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps930\" style=\"width:104.49pt\">les cadres fiscaux, douaniers</span><span class=\"f charStyle-165dec60 ps32497\" style=\"width:117.75pt\"> et r\u00e9glementaires en vigueur</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">au moment de leur \u00e9laboration en consid\u00e9rant que les</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps8710 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">principaux co\u00fbts associ\u00e9s seront int\u00e9gralement ou quasi-</span></div><div class=\"ps6195 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:139.21pt\">int\u00e9gralement transf\u00e9r\u00e9s aux clients ;</span></div><div class=\"ps6441 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">l'absence de tensions majeures sur la cha\u00eene</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps6442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.2pt\">d'approvisionnement dans des march\u00e9s suppos\u00e9s fluides</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps6443 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:48.44pt\">et \u00e9quilibr\u00e9s </span><span class=\"f charStyle-165dec60 ps32498\" style=\"width:1.59pt\">;</span></div><div class=\"ps6444 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">des hypoth\u00e8ses de devises qui s\u2019appuient sur les pr\u00e9visions</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps6445 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">d'un panel de banques au moment de la pr\u00e9paration du</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps6446 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">plan\u00a0: les cours de change retenus pour les principales<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6447 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">devises du plan s'\u00e9tablissent pour 1 euro \u00e0 1,17 pour le dollar</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps6448 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.15pt\">am\u00e9ricain, \u00e0\u00a08,35 pour le renminbi chinois, \u00e0 156 pour le yen</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps12168 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.15pt\">japonais et \u00e0 1\u00a0554 pour le won sud-cor\u00e9en en moyenne sur</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps12423 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:79.81pt\">les 5 ann\u00e9es du plan\u00a0;</span></div><div class=\"ps651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps930\" style=\"width:222.24pt\">les ventes du Groupe sont pr\u00e9vues en fonction des</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps6451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps930\" style=\"width:45.96pt\">commandes</span><span class=\"f charStyle-165dec60 ps4440\" style=\"width:176.23pt\"> connues au moment de la pr\u00e9paration du</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps6452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:73.78pt\">plan et en fonction </span><span class=\"f charStyle-81f42323 ps32499\" style=\"width:148.38pt\">des pr\u00e9visions de commandes qui seront</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps6453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps930\" style=\"width:86.37pt\">acquises sur la p\u00e9riode</span><span class=\"f charStyle-165dec60 ps32500\" style=\"width:135.81pt\"> du plan. Les commandes d\u00e9j\u00e0 en</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps6455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:181.53pt\">carnet au 31 d\u00e9cembre 2025 repr\u00e9sentent 69 % </span><span class=\"f charStyle-165dec60 ps32501\" style=\"width:40.64pt\">des ventes</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps32502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">premi\u00e8re monte cumul\u00e9es sur les cinq prochaines ann\u00e9es</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps19935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:37.97pt\">et environ</span><span class=\"f charStyle-165dec60 ps29406\" style=\"width:142.41pt\"> 47\u00a0% des ventes de la derni\u00e8re ann\u00e9e.</span></div><div class=\"ps32506 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.4.2<span id=\"i371a3e772ef049229f8e778c39c18bfd\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps32503\"><span style=\"display:inline-block;height:8.71pt;width:12.23pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Immobilisations incorporelles et\u00a0corporelles (hors </span><span class=\"f charStyle-b8a0a0c4 ps32504\">goodwill</span><span class=\"f charStyle-b11f9a65 ps32505\">)</span></div><div class=\"ps661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:229.26pt\">Le p\u00e9rim\u00e8tre des tests de d\u00e9pr\u00e9ciation sur les unit\u00e9s</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:49.18pt\">g\u00e9n\u00e9ratrices </span><span class=\"f charStyle-73c14ed6 ps32507\" style=\"width:180.11pt\">de tr\u00e9sorerie (UGT) est compos\u00e9 d\u2019une part des</span><span class=\"f charStyle-73c14ed6 ps425\" style=\"width:1.75pt\"> </span></div><div class=\"ps666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps275\" style=\"width:80.93pt\">UGT ayant fait l\u2019objet</span><span class=\"f charStyle-165dec60 ps32508\" style=\"width:148.34pt\"> d\u2019une d\u00e9pr\u00e9ciation lors des cl\u00f4tures</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:111.78pt\">pr\u00e9c\u00e9dentes et demeurant </span><span class=\"f charStyle-42e3db84 ps32509\" style=\"width:117.52pt\">sensibles aux crit\u00e8res \u00e9nonc\u00e9s</span><span class=\"f charStyle-42e3db84 ps608\" style=\"width:1.82pt\"> </span></div><div class=\"ps669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:28.36pt\">dans la </span><span class=\"f charStyle-42e3db84 ps32510\" style=\"width:36.13pt\">Note 7.4.3</span><span class=\"f charStyle-42e3db84 ps32511\" style=\"width:36.07pt\">, page 421</span><span class=\"f charStyle-81f42323 ps32512\" style=\"width:128.71pt\"> et d\u2019autre part des UGT pr\u00e9sentant</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps670 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:101.66pt\">un indice de perte de valeur.</span><span class=\"f charStyle-81f42323 ps32513\" style=\"width:1.78pt\"> </span></div><div class=\"ps9674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les principaux indices de perte de valeur retenus par le</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.14pt\">Groupe</span><span class=\"f charStyle-53279637 ps32514\" style=\"width:201.12pt\"> dans le cadre des tests de d\u00e9pr\u00e9ciation sur les unit\u00e9s</span><span class=\"f charStyle-53279637 ps410\" style=\"width:1.85pt\"> </span></div><div class=\"ps673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:42.27pt\">g\u00e9n\u00e9ratrice</span><span class=\"f charStyle-165dec60 ps32515\" style=\"width:187.02pt\">s de tr\u00e9sorerie (UGT) sont une marge</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:113.47pt\">op\u00e9rationnelle n\u00e9gative en\u00a0</span><span class=\"f charStyle-165dec60 ps32516\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32517\" style=\"width:98.13pt\">, une chute des ventes</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:93.83pt\">sup\u00e9rieure \u00e0 20 % entre </span><span class=\"f charStyle-165dec60 ps32518\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32519\" style=\"width:2.68pt\"> </span><span class=\"f charStyle-c709af45 ps32520\" style=\"width:9.98pt\">et\u00a0</span><span class=\"f charStyle-c709af45 ps32521\" style=\"width:17.34pt\">2025</span><span class=\"f charStyle-c709af45 ps32522\" style=\"width:87pt\"> ou un retard r\u00e9current</span><span class=\"f charStyle-c709af45 ps429\" style=\"width:1.87pt\"> </span></div><div class=\"ps676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps275\" style=\"width:143.96pt\">significatif par rapport aux objectifs </span><span class=\"f charStyle-49b0b1fa ps32523\" style=\"width:85.35pt\">fix\u00e9s dans les plans \u00e0</span><span class=\"f charStyle-49b0b1fa ps418\" style=\"width:1.84pt\"> </span></div><div class=\"ps677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:179.93pt\">moyen terme. Toute UGT en forte croissance d</span><span class=\"f charStyle-165dec60 ps5629\" style=\"width:49.34pt\">ont la valeur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps678 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">d'utilit\u00e9 est substantiellement sup\u00e9rieure \u00e0 ses capitaux</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:157.1pt\">employ\u00e9s est exclue du p\u00e9rim\u00e8tre de test.</span><span class=\"f charStyle-165dec60 ps32524\" style=\"width:1.96pt\"> </span></div><div class=\"ps661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">Ces \u00e9l\u00e9ments pris en consid\u00e9ration, six UGT ont fait l\u2019objet</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:107.61pt\">d\u2019un test de d\u00e9pr\u00e9ciation au </span><span class=\"f charStyle-165dec60 ps32525\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps32526\" style=\"width:3.55pt\"> :</span></div><div class=\"ps15376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a7e38484 ps929\" style=\"width:2.35pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-8de4ecd0 ps930\" style=\"width:222.24pt\">l'Op\u00e9ration R\u00e9gionale Thermal Europe, rattach\u00e9e \u00e0 la Division</span><span class=\"f charStyle-8de4ecd0 ps450\" style=\"width:1.63pt\"> </span></div><div class=\"ps15377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8de4ecd0 ps930\" style=\"width:31.67pt\">POWER ;</span></div><div class=\"ps32527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">l'Op\u00e9ration R\u00e9gionale Drive Am\u00e9riques, rattach\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps32529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:62.1pt\">Division POWER</span><span class=\"f charStyle-e8054d08 ps32528\" style=\"width:3.55pt\"> ;</span></div><div class=\"ps2390 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-0bb91e39 ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps930\" style=\"width:222.22pt\">l'Op\u00e9ration R\u00e9gionale Thermal Am\u00e9riques, rattach\u00e9e \u00e0 la</span><span class=\"f charStyle-42e3db84 ps460\" style=\"width:1.82pt\"> </span></div><div class=\"ps32532 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps930\" style=\"width:30.41pt\">Division </span><span class=\"f charStyle-165dec60 ps32530\" style=\"width:30.43pt\">POWER</span><span class=\"f charStyle-e8054d08 ps32531\" style=\"width:3.55pt\"> ;</span></div><div class=\"ps2395 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps930\" style=\"width:165.21pt\">la Ligne de Produits Connect, rattach\u00e9e</span><span class=\"f charStyle-165dec60 ps32533\" style=\"width:57pt\"> \u00e0 la Division</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2396 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:24.79pt\">BRAIN</span><span class=\"f charStyle-9c680f66 ps32534\" style=\"width:3.49pt\">\u00a0;</span></div><div class=\"ps2397 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps930\" style=\"width:222.22pt\">l\u2019activit\u00e9 Commandes sous volant, rattach\u00e9e \u00e0 la Division</span><span class=\"f charStyle-53279637 ps460\" style=\"width:1.85pt\"> </span></div><div class=\"ps32536 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps930\" style=\"width:24.24pt\">BRAIN</span><span class=\"f charStyle-165dec60 ps32535\" style=\"width:1.59pt\">;</span></div><div class=\"ps32537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">la Ligne de Produits Sp\u00e9ciaux - Syst\u00e8mes d'\u00c9clairage,</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps32538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:109.11pt\">rattach\u00e9e \u00e0 la Division LIGHT.</span></div><div class=\"ps1503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Sur l'exercice 2025, les tests de perte de valeur des unit\u00e9s</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT) n\u2019ont donn\u00e9 lieu \u00e0 aucune</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2402 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">constatation de perte de valeur.\u00a0 Les actions mises en oeuvre</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps17958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">pour am\u00e9liorer l\u2019efficacit\u00e9 op\u00e9rationnelle de l\u2019activit\u00e9</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps17962 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Commandes sous volant ont permis de reprendre</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps17964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">int\u00e9gralement les pertes de valeur pr\u00e9c\u00e9demment</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps6930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">constat\u00e9es sur cette UGT pour un montant de 6 millions</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps17966 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:129pt\">d\u2019euros (cf. Note 5.6.2.4, page 404).</span></div></div><div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.4.3<span id=\"i3857481ba4bb44e88d3940b45fb57a1a\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps32540\"><span style=\"display:inline-block;height:8.71pt;width:12.22pt\"></span></span><span class=\"ps29285\">Sensibilit\u00e9 des tests de perte de\u00a0valeur\u00a0sur\u00a0les UGT</span></span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">La sensibilit\u00e9 des tests de perte de valeur des UGT r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:16.1pt\">sur </span><span class=\"f charStyle-81f42323 ps30522\" style=\"width:213.18pt\">un horizon de temps infini, \u00e0 savoir les UGT Op\u00e9ration</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:36.2pt\">R\u00e9gionale</span><span class=\"f charStyle-165dec60 ps32541\" style=\"width:8.9pt\"> </span><span class=\"f charStyle-81f42323 ps32542\" style=\"width:75.15pt\">Thermal Europe, </span><span class=\"f charStyle-81f42323 ps32543\" style=\"width:109.05pt\">Op\u00e9ration R\u00e9gionale Drive</span><span class=\"f charStyle-81f42323 ps608\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:81.13pt\">Am\u00e9riques, Op\u00e9ration</span><span class=\"f charStyle-165dec60 ps32544\" style=\"width:127.18pt\"> R\u00e9gionale Thermal Am\u00e9riques, </span><span class=\"f charStyle-9c680f66 ps32545\" style=\"width:21pt\">Ligne</span><span class=\"f charStyle-9c680f66 ps418\" style=\"width:1.93pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:91.45pt\">de Produits Connect </span><span class=\"f charStyle-165dec60 ps22228\" style=\"width:137.86pt\">et Ligne de Produits Sp\u00e9ciaux -</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:39.41pt\">Syst\u00e8mes </span><span class=\"f charStyle-9206869b ps32546\" style=\"width:189.88pt\">d'\u00c9clairage a \u00e9t\u00e9 v\u00e9rifi\u00e9e au regard des variations</span><span class=\"f charStyle-9206869b ps425\" style=\"width:1.9pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps275\" style=\"width:50.82pt\">de param\u00e8tre</span><span class=\"f charStyle-165dec60 ps32547\" style=\"width:44.66pt\">s suivantes\u00a0:</span></div><div class=\"ps29459 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:183.29pt\">augmentation du taux d\u2019actualisation de 1 point\u00a0;</span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:205.92pt\">diminution du taux de croissance \u00e0 l\u2019infini de 0,5 point ;</span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps930\" style=\"width:222.22pt\">d\u00e9t\u00e9rioration du taux de r\u00e9sultat op\u00e9rationnel sur chiffre</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps930\" style=\"width:28.51pt\">d\u2019affaire</span><span class=\"f charStyle-4afdd138 ps12103\" style=\"width:193.71pt\">s utilis\u00e9 dans le calcul de la valeur terminale de</span><span class=\"f charStyle-4afdd138 ps460\" style=\"width:1.9pt\"> </span></div><div class=\"ps32461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps930\" style=\"width:222.24pt\">1\u00a0point, afin de permettre d\u2019appr\u00e9hender de mani\u00e8re</span><span class=\"f charStyle-4afdd138 ps450\" style=\"width:1.9pt\"> </span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps930\" style=\"width:222.21pt\">globale la sensibilit\u00e9 aux hypoth\u00e8ses op\u00e9rationnelles</span><span class=\"f charStyle-4afdd138 ps449\" style=\"width:1.9pt\"> </span></div><div class=\"ps29824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps930\" style=\"width:116.89pt\">retenues dans la construction d</span><span class=\"f charStyle-367d076b ps32548\" style=\"width:88.29pt\">es plans \u00e0 moyen terme</span><span class=\"f charStyle-4afdd138 ps32549\" style=\"width:1.53pt\">.</span><span class=\"f charStyle-165dec60 ps32550\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">La marge des tests, qui correspond \u00e0 l\u2019\u00e9cart entre la valeur d\u2019utilit\u00e9 et la valeur nette comptable, ainsi que les impacts des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:316.26pt\">variations d\u2019hypoth\u00e8ses cl\u00e9s sur cette marge sont pr\u00e9sent\u00e9s dans le tableau suivant\u00a0:</span></div><div class=\"ps32629 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:33pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:72.75pt\"></td><td style=\"padding:0;width:101.25pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15972 ss2031\"><div><div class=\"ps32553 ss2030\"><span class=\"f charStyle-ae6044e9 ps32552\">Impacts sur la marge du test<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps13301 ss2032\"><div><div class=\"ps30968 ss292\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32554 ss2033\"><div><div class=\"ps4232 ss61\"><span class=\"f charStyle-6bef0edd ps17401\">WACC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32558 ss2034\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-6e44c0cc ps32555\">Taux de <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss387\"><span class=\"f charStyle-6e44c0cc ps32556\">croissance </span></div><div class=\"ps4232 ss387\"><span class=\"f charStyle-6e44c0cc ps32557\">\u00e0 l'infini</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32561 ss2035\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-6bef0edd ps32559\">Marge </span></div><div class=\"ps523 ss1084\"><span class=\"f charStyle-6bef0edd ps32560\">du test <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss1084\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps26393\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32563 ss2035\"><div><div class=\"ps523 ss1084\"><span class=\"f charStyle-ae6044e9 ps3378\">WACC <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss1084\"><span class=\"f charStyle-ae6044e9 ps32562\">(+\u00a01 pt)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32565 ss2036\"><div><div class=\"ps509 ss986\"><span class=\"f charStyle-57b94dd5 ps29988\">Taux de <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss986\"><span class=\"f charStyle-57b94dd5 ps32564\">croissance \u00e0 l'infini </span></div><div class=\"ps4232 ss986\"><span class=\"f charStyle-57b94dd5 ps26220\">(-\u00a00,5 pt)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32566 ss2037\"><div><div class=\"ps509 ss424\"><span class=\"f charStyle-fad00658 ps28792\">D\u00e9t\u00e9rioration du taux de <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss424\"><span class=\"f charStyle-fad00658 ps29087\">r\u00e9sultat op\u00e9rationnel de <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss424\"><span class=\"f charStyle-fad00658 ps3898\">la valeur terminale de 1 pt<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32571 ss2038\"><div><div class=\"ps509 ss804\"><span class=\"f charStyle-8e9c4dea ps32567\">Combinaison</span><span class=\"f charStyle-98f46611 ps32568\"> </span></div><div class=\"ps523 ss804\"><span class=\"f charStyle-98f46611 ps32569\">des </span></div><div class=\"ps4232 ss804\"><span class=\"f charStyle-98f46611 ps32570\">3\u00a0facteurs</span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps12723 ss316\"><div><div class=\"ps4228 ss292\"><span class=\"f charStyle-044fe383 ps10\">UGT Op\u00e9ration R\u00e9gionale</span></div><div class=\"ps4229 ss292\"><span class=\"f charStyle-044fe383 ps10\">Thermal Europe <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32573 ss2039\"><div><div class=\"ps4244 ss61\"><span class=\"f charStyle-a696f64a ps32572\">10,0%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32574 ss1547\"><div><div class=\"ps4244 ss387\"><span class=\"f charStyle-a696f64a ps13064\">1,3%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32576 ss2040\"><div><div class=\"ps4244 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.59pt\"></span></span><span class=\"ps32575\">470<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32578 ss2040\"><div><div class=\"ps4244 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.26pt\"></span></span><span class=\"ps32577\">(78)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32580 ss2041\"><div><div class=\"ps4244 ss986\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.98pt\"></span></span><span class=\"ps32579\">(32)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32582 ss2042\"><div><div class=\"ps4244 ss424\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:82.59pt\"></span></span><span class=\"ps32581\">(110)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32583 ss2043\"><div><div class=\"ps4244 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.94pt\"></span></span><span class=\"ps25931\">(192)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16833 ss316\"><div><div class=\"ps4228 ss292\"><span class=\"f charStyle-a696f64a ps10\">UGT Op\u00e9ration R\u00e9gionale<span class=\"f ps53\"> </span></span></div><div class=\"ps4229 ss292\"><span class=\"f charStyle-a696f64a ps10\">Drive Am\u00e9riques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32584 ss2039\"><div><div class=\"ps4244 ss61\"><span class=\"f charStyle-a696f64a ps3119\">10,8%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32585 ss1547\"><div><div class=\"ps4244 ss387\"><span class=\"f charStyle-a696f64a ps6867\">1,9%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32587 ss2040\"><div><div class=\"ps4244 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.03pt\"></span></span><span class=\"ps32586\">310<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32589 ss2040\"><div><div class=\"ps4244 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.33pt\"></span></span><span class=\"ps32588\">(66)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32591 ss2041\"><div><div class=\"ps4244 ss986\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.42pt\"></span></span><span class=\"ps32590\">(28)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32592 ss2042\"><div><div class=\"ps4244 ss424\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:83.83pt\"></span></span><span class=\"ps30403\">(69)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32594 ss2043\"><div><div class=\"ps4244 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.85pt\"></span></span><span class=\"ps32593\">(144)</span></span></div></div></div></td></tr><tr style=\"height:24.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps571 ss316\"><div><div class=\"ps4228 ss292\"><span class=\"f charStyle-a696f64a ps10\">UGT Op\u00e9ration R\u00e9gionale<span class=\"f ps53\"> </span></span></div><div class=\"ps4229 ss292\"><span class=\"f charStyle-a696f64a ps10\">Thermal Am\u00e9riques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32596 ss2039\"><div><div class=\"ps4244 ss61\"><span class=\"f charStyle-a696f64a ps32595\">10,7%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32597 ss1547\"><div><div class=\"ps4244 ss387\"><span class=\"f charStyle-a696f64a ps6867\">1,9%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32599 ss2040\"><div><div class=\"ps4244 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.96pt\"></span></span><span class=\"ps32598\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32601 ss2040\"><div><div class=\"ps4244 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.79pt\"></span></span><span class=\"ps32600\">(27)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32603 ss2041\"><div><div class=\"ps4244 ss986\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.79pt\"></span></span><span class=\"ps32602\">(10)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32605 ss2042\"><div><div class=\"ps4244 ss424\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:83.76pt\"></span></span><span class=\"ps32604\">(78)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32606 ss2043\"><div><div class=\"ps4244 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.11pt\"></span></span><span class=\"ps17724\">(98)</span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4572 ss1989\"><div><div class=\"ps746 ss292\"><span class=\"f charStyle-a696f64a ps10\">UGT Ligne de Produits <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss292\"><span class=\"f charStyle-a696f64a ps10\">Connect</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32607 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-a696f64a ps32572\">10,0%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32609 ss653\"><div><div class=\"ps516 ss387\"><span class=\"f charStyle-a696f64a ps32608\">1,5%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32611 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\">91<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32613 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.94pt\"></span></span><span class=\"ps32612\">(46)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32614 ss1065\"><div><div class=\"ps516 ss986\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.24pt\"></span></span><span class=\"ps30099\">(20)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32616 ss2045\"><div><div class=\"ps516 ss424\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:83.05pt\"></span></span><span class=\"ps32615\">(44)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32618 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.48pt\"></span></span><span class=\"ps32617\">(97)</span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps15666 ss1987\"><div><div class=\"ps15656 ss292\"><span class=\"f charStyle-a696f64a ps10\">UGT Ligne de Produits <span class=\"f ps53\"> </span></span></div><div class=\"ps13845 ss292\"><span class=\"f charStyle-a696f64a ps10\">Sp\u00e9ciaux - Syst\u00e8mes </span></div><div class=\"ps15657 ss292\"><span class=\"f charStyle-a696f64a ps10\">d'\u00c9clairage</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32619 ss2046\"><div><div class=\"ps527 ss61\"><span class=\"f charStyle-a696f64a ps32572\">10,0%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32620 ss395\"><div><div class=\"ps527 ss387\"><span class=\"f charStyle-a696f64a ps32608\">1,5%<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32621 ss1122\"><div><div class=\"ps527 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.88pt\"></span></span><span class=\"ps3340\">326<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32623 ss1122\"><div><div class=\"ps527 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.19pt\"></span></span><span class=\"ps32622\">(61)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32625 ss1097\"><div><div class=\"ps527 ss986\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.96pt\"></span></span><span class=\"ps32624\">(25)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32627 ss2047\"><div><div class=\"ps527 ss424\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:84.15pt\"></span></span><span class=\"ps32626\">(56)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32628 ss2048\"><div><div class=\"ps527 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.94pt\"></span></span><span class=\"ps25931\">(126)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps20986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.21pt\">Le test de perte de valeur de l\u2019UGT Ligne de Produits Commandes sous volant \u00e9tant r\u00e9alis\u00e9 sur un horizon de temps fini, sa</span><span class=\"f charStyle-165dec60 ps1722\" style=\"width:1.96pt\"> </span></div><div class=\"ps20987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:223.05pt\">sensibilit\u00e9 a \u00e9t\u00e9 v\u00e9rifi\u00e9e au regard des param\u00e8tres suivants :</span></div><div class=\"ps13623 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:183.29pt\">augmentation du taux d\u2019actualisation de 1 point ;</span></div><div class=\"ps32630 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:217.89pt\">diminution de 5% des ventes pour chaque ann\u00e9e du plan ;</span></div><div class=\"ps8128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:336.2pt\">d\u00e9t\u00e9rioration du taux de consommation mati\u00e8re de 0,5 point pour chaque ann\u00e9e du plan.</span></div><div class=\"ps32645 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:161.25pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:67.5pt\"></td><td style=\"padding:0;width:99pt\"></td><td style=\"padding:0;width:51.75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;padding:0\"></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps508 ss2050\"><div><div class=\"ps32553 ss2049\"><span class=\"f charStyle-ae6044e9 ps7851\">Impacts sur la marge du test<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps13301 ss2051\"><div><div class=\"ps30968 ss1788\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32631 ss2035\"><div><div class=\"ps4232 ss1084\"><span class=\"f charStyle-6bef0edd ps3378\">WACC<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32632 ss2035\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-6bef0edd ps32559\">Marge </span></div><div class=\"ps523 ss1084\"><span class=\"f charStyle-6bef0edd ps32560\">du test <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss1084\"><span class=\"f charStyle-6bef0edd ps26393\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32633 ss2035\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-ae6044e9 ps3378\">WACC <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1084\"><span class=\"f charStyle-ae6044e9 ps16629\">\u00e0 11\u00a0% <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss1084\"><span class=\"f charStyle-ae6044e9 ps32562\">(+\u00a01 pt)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32312 ss2053\"><div><div class=\"ps509 ss2052\"><span class=\"f charStyle-5ffca5e0 ps32634\">Baisse de 5 % <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss2052\"><span class=\"f charStyle-5ffca5e0 ps4510\">des ventes pour </span></div><div class=\"ps4232 ss2052\"><span class=\"f charStyle-5ffca5e0 ps10895\">chaque ann\u00e9e<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32637 ss2054\"><div><div class=\"ps509 ss377\"><span class=\"f charStyle-ae6044e9 ps10424\">D\u00e9t\u00e9rioration du taux <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss377\"><span class=\"f charStyle-ae6044e9 ps32635\">de consommation </span></div><div class=\"ps4232 ss377\"><span class=\"f charStyle-ae6044e9 ps32636\">mati\u00e8re de 0,5 pt</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32571 ss2038\"><div><div class=\"ps509 ss804\"><span class=\"f charStyle-8e9c4dea ps32567\">Combinaison </span></div><div class=\"ps523 ss804\"><span class=\"f charStyle-8e9c4dea ps31230\">d</span><span class=\"f charStyle-98f46611 ps5848\">es </span></div><div class=\"ps4232 ss804\"><span class=\"f charStyle-98f46611 ps32570\">3\u00a0facteurs</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps12723 ss1791\"><div><div class=\"ps746 ss1788\"><span class=\"f charStyle-0eac6656 ps10\">UGT Ligne de Produits Commandes sous </span></div><div class=\"ps748 ss1788\"><span class=\"f charStyle-0eac6656 ps10\">volant</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps25608 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-044fe383 ps11473\">10,0 %</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32638 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.26pt\"></span></span><span class=\"ps23666\">14<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32640 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.41pt\"></span></span><span class=\"ps32639\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32641 ss2055\"><div><div class=\"ps516 ss2052\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.5pt\"></span></span><span class=\"ps28273\">(1)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32643 ss2056\"><div><div class=\"ps516 ss377\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:86.45pt\"></span></span><span class=\"ps32642\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32583 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">(4)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps21099 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.21pt\">Compte tenu de la marge positive du test de d\u00e9pr\u00e9ciation au 31 d\u00e9cembre 2025, le Groupe a repris l\u2019int\u00e9gralit\u00e9 des pertes de</span><span class=\"f charStyle-165dec60 ps1722\" style=\"width:1.96pt\"> </span></div><div class=\"ps21100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.17pt\">valeur enregistr\u00e9es sur l\u2019UGT Ligne de Produits Commandes sous volant pour un montant de 6 millions d\u2019euros. Le produit</span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> </span></div><div class=\"ps21104 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:265.96pt\">g\u00e9n\u00e9r\u00e9 par cette reprise est pr\u00e9sent\u00e9 en autres produits et charges (cf. </span><span class=\"f charStyle-165dec60 ps32646\" style=\"width:40.84pt\">Note\u00a05.6.2.1</span><span class=\"f charStyle-165dec60 ps32647\" style=\"width:43.58pt\">, page 404).</span></div><div class=\"ps32650 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.4.4<span id=\"ie295d6406bc44594960b5dcfcb17677f\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps32648\"><span style=\"display:inline-block;height:8.71pt;width:11.34pt\"></span></span></span><span class=\"f charStyle-b8a0a0c4 ps29285\">Goodwill</span><span class=\"f charStyle-b11f9a65 ps32649\"> (\u00e9cart d\u2019acquisition)</span></div><div class=\"ps14027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les tests effectu\u00e9s au niveau des Divisions, selon la m\u00e9thodologie d\u00e9crite ci-dessus, ont montr\u00e9 qu\u2019aucune d\u00e9pr\u00e9ciation des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps11907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps4373\" style=\"width:4.11pt\"> </span><span class=\"f charStyle-165dec60 ps32651\" style=\"width:218.56pt\">n\u2019\u00e9tait n\u00e9cessaire pour l\u2019exercice clos au 31\u00a0d\u00e9cembre </span><span class=\"f charStyle-165dec60 ps32652\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32653\" style=\"width:19.89pt\">. En </span><span class=\"f charStyle-165dec60 ps32654\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32655\" style=\"width:170.43pt\">, les tests avaient \u00e9galement conduit \u00e0 ne</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps14028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:145.17pt\">comptabiliser aucune d\u00e9pr\u00e9ciation de </span><span class=\"f charStyle-e8054d08 ps32656\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32657\" style=\"width:1.59pt\">.</span></div><div class=\"ps32659 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.4.5<span id=\"i3253ce5fd0994cb7aec2d73f3b6e25ea\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps32459\"><span style=\"display:inline-block;height:8.71pt;width:12.19pt\"></span></span><span class=\"ps29285\">Sensibilit\u00e9 des tests de perte de valeur sur\u00a0les </span></span><span class=\"f charStyle-b8a0a0c4 ps32658\">goodwill</span></div><div class=\"ps21045 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">La sensibilit\u00e9 des tests de perte de valeur a \u00e9galement \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps21046 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.33pt\">v\u00e9rifi\u00e9e au regard des variations des trois principales</span><span class=\"f charStyle-9c680f66 ps412\" style=\"width:1.93pt\"> </span></div><div class=\"ps21047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:45.03pt\">hypoth\u00e8ses </span><span class=\"f charStyle-165dec60 ps8223\" style=\"width:39.04pt\">suivantes :</span></div><div class=\"ps21249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:183.29pt\">augmentation du taux d\u2019actualisation de 1 point\u00a0;</span></div><div class=\"ps5240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:205.92pt\">diminution du taux de croissance \u00e0 l\u2019infini de 0,5 point\u00a0;</span></div><div class=\"ps32660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">baisse du taux de r\u00e9sultat op\u00e9rationnel sur chiffre d\u2019affaires</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:208.37pt\">utilis\u00e9 dans le calcul de la valeur terminale de 1 point, </span><span class=\"f charStyle-4afdd138 ps32661\" style=\"width:13.8pt\">afin</span><span class=\"f charStyle-4afdd138 ps410\" style=\"width:1.9pt\"> </span></div><div class=\"ps21045 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps930\" style=\"width:222.22pt\">de permettre d\u2019appr\u00e9hender de mani\u00e8re globale la</span><span class=\"f charStyle-4afdd138 ps460\" style=\"width:1.9pt\"> </span></div><div class=\"ps21046 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps930\" style=\"width:222.23pt\">sensibilit\u00e9 aux hypoth\u00e8ses op\u00e9rationnelles retenues dans la</span><span class=\"f charStyle-4afdd138 ps639\" style=\"width:1.9pt\"> </span></div><div class=\"ps21047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps930\" style=\"width:53.97pt\">construction d</span><span class=\"f charStyle-367d076b ps32662\" style=\"width:88.29pt\">es plans \u00e0 moyen terme</span><span class=\"f charStyle-4afdd138 ps32663\" style=\"width:1.53pt\">.</span></div><div class=\"ps21249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Aucune perte de valeur ne serait \u00e0 enregistrer que ces<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32664 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:229.32pt\">changements soient pris individuellement ou de fa\u00e7on</span><span class=\"f charStyle-5064d44f ps639\" style=\"width:1.89pt\"> </span></div><div class=\"ps32665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:39.05pt\">combin\u00e9e.</span></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.17pt\">La marge des tests, qui correspond \u00e0 l\u2019\u00e9cart entre la valeur d\u2019utilit\u00e9 et la valeur nette comptable ainsi que les impacts des</span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:362.39pt\">variations d\u2019hypoth\u00e8ses cl\u00e9s sur cette marge sont pr\u00e9sent\u00e9s par Division dans le tableau suivant\u00a0:</span></div><div class=\"ps11611 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:161.25pt\"></td><td style=\"padding:0;width:60pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:69pt\"></td><td style=\"padding:0;width:98.25pt\"></td><td style=\"padding:0;width:58.5pt\"></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps15929 ss280\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps30001\">Marge </span></div><div class=\"ps516 ss211\"><span class=\"f charStyle-6bef0edd ps32666\">du\u00a0test</span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15972 ss2057\"><div><div class=\"ps516 ss2030\"><span class=\"f charStyle-ae6044e9 ps32552\">Impacts sur la marge du test<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps6853 ss2058\"><div><div class=\"ps15630 ss1788\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps15942 ss2059\"><div><div class=\"ps28357 ss211\"><span class=\"f charStyle-6bef0edd ps16655\">Sur la base </span></div><div class=\"ps11147 ss211\"><span class=\"f charStyle-6bef0edd ps32667\">des </span></div><div class=\"ps32668 ss211\"><span class=\"f charStyle-6bef0edd ps28999\">hypoth\u00e8ses <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss211\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps11119\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32669 ss2060\"><div><div class=\"ps11147 ss1084\"><span class=\"f charStyle-c942a721 ps3378\">WACC </span></div><div class=\"ps32668 ss1084\"><span class=\"f charStyle-c942a721 ps16629\">\u00e0 11 % </span></div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c942a721 ps32562\">(+\u00a01 pt)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32672 ss2061\"><div><div class=\"ps28357 ss782\"><span class=\"f charStyle-c942a721 ps32670\">Taux de </span></div><div class=\"ps11147 ss782\"><span class=\"f charStyle-c942a721 ps32671\">croissance \u00e0 </span></div><div class=\"ps32668 ss782\"><span class=\"f charStyle-c942a721 ps10540\">l'infini \u00e0 1 % </span></div><div class=\"ps10417 ss782\"><span class=\"f charStyle-c942a721 ps25841\">(-\u00a00,5 pt)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32677 ss2062\"><div><div class=\"ps509 ss947\"><span class=\"f charStyle-98f46611 ps10900\">D\u00e9t\u00e9rioration du taux </span></div><div class=\"ps523 ss947\"><span class=\"f charStyle-98f46611 ps32673\">de r\u00e9sultat </span></div><div class=\"ps4232 ss947\"><span class=\"f charStyle-98f46611 ps32674\">op\u00e9rationnel de la </span></div><div class=\"ps10417 ss947\"><span class=\"f charStyle-98f46611 ps32675\">v<span class=\"f ps53\"> </span></span><span class=\"f charStyle-188d64b3 ps32676\">aleur terminale de 1 pt<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32680 ss2063\"><div><div class=\"ps11147 ss1586\"><span class=\"f charStyle-c942a721 ps15631\">Combinaison </span></div><div class=\"ps32668 ss1586\"><span class=\"f charStyle-c942a721 ps32678\">des </span></div><div class=\"ps10417 ss1586\"><span class=\"f charStyle-c942a721 ps32679\">3\u00a0facteurs<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4545 ss1789\"><div><div class=\"ps746 ss1788\"><span class=\"f charStyle-a696f64a ps10\">Division Valeo POWER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32682 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.03pt\"></span></span><span class=\"ps32681\">4\u00a0019<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32684 ss1118\"><div><div class=\"ps746 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.7pt\"></span></span><span class=\"ps32683\">(867)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32686 ss2064\"><div><div class=\"ps746 ss782\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.99pt\"></span></span><span class=\"ps32685\">(352)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32688 ss953\"><div><div class=\"ps746 ss947\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.57pt\"></span></span><span class=\"ps32687\">(779)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32690 ss2021\"><div><div class=\"ps746 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.77pt\"></span></span><span class=\"ps32689\">(1\u00a0774)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8277 ss1789\"><div><div class=\"ps746 ss1788\"><span class=\"f charStyle-a696f64a ps10\">Division Valeo BRAIN<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32692 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.6pt\"></span></span><span class=\"ps32691\">3\u00a0767<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32694 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.52pt\"></span></span><span class=\"ps32693\">(760)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32696 ss2064\"><div><div class=\"ps509 ss782\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.22pt\"></span></span><span class=\"ps32695\">(316)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32698 ss953\"><div><div class=\"ps509 ss947\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.35pt\"></span></span><span class=\"ps32697\">(574)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32700 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.96pt\"></span></span><span class=\"ps32699\">(1\u00a0473)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss1789\"><div><div class=\"ps746 ss1788\"><span class=\"f charStyle-a696f64a ps10\">Division Valeo LIGHT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32702 ss1551\"><div><div class=\"ps746 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.06pt\"></span></span><span class=\"ps32701\">2\u00a0187<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32704 ss1118\"><div><div class=\"ps746 ss1084\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.99pt\"></span></span><span class=\"ps32703\">(464)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32706 ss2064\"><div><div class=\"ps746 ss782\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.48pt\"></span></span><span class=\"ps32705\">(190)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32708 ss953\"><div><div class=\"ps746 ss947\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:75.27pt\"></span></span><span class=\"ps32707\">(448)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32710 ss2021\"><div><div class=\"ps746 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.67pt\"></span></span><span class=\"ps32709\">(976)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32712 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-16b656de ps275\">7.4.6<span id=\"ife4795763cbb422a856e372451a9160f\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps32711\"><span style=\"display:inline-block;height:8.71pt;width:12.01pt\"></span></span></span><span class=\"f charStyle-16b656de ps29285\">Sensibilit\u00e9 des tests de perte de valeur </span></div><div class=\"ps32713 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-16b656de ps29287\">aux cons\u00e9quences du changement </span></div><div class=\"ps32714 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-16b656de ps29287\">climatique</span></div><div class=\"ps18396 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">Le changement climatique pourrait avoir des cons\u00e9quences</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps11930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">de diverses natures sur la valeur des actifs de Valeo. La prise</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps18399 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">en compte par le Groupe des risques physiques sur la valeur</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps8451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:117.37pt\">de ses actifs est d\u00e9crite dans la </span><span class=\"f charStyle-165dec60 ps32715\" style=\"width:28.83pt\">Note 1.3</span><span class=\"f charStyle-165dec60 ps32716\" style=\"width:68.6pt\">, pages 387 et 388.</span></div><div class=\"ps18402 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le principal risque de transition auquel est confront\u00e9 le</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps8454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">secteur automobile est celui li\u00e9 au basculement progressif</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">vers la mobilit\u00e9 \u00e9lectrique. Cette profonde transformation du</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps8456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">secteur a \u00e9t\u00e9 anticip\u00e9e de longue date par le Groupe et est</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">refl\u00e9t\u00e9e dans les plans \u00e0 moyen terme, sur la base desquels</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps8458 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:225.72pt\">sont r\u00e9alis\u00e9s les tests de d\u00e9pr\u00e9ciation des actifs immobilis\u00e9s.</span></div><div class=\"ps11816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Dans le cadre des tests de perte de valeur sur les UGT et les</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps11818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps4373\" style=\"width:197.1pt\">, une simulation de test de perte de valeur bas\u00e9e sur</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32717 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">un scenario pessimiste a \u00e9t\u00e9 r\u00e9alis\u00e9e. Ce scenario pessimiste</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps32718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:11.89pt\">a </span><span class=\"f charStyle-9c680f66 ps11807\" style=\"width:217.4pt\">consist\u00e9 \u00e0 consid\u00e9rer, pour les activit\u00e9s fortement</span><span class=\"f charStyle-9c680f66 ps425\" style=\"width:1.93pt\"> </span></div><div class=\"ps32719 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.28pt\">impact\u00e9es par l'\u00e9lectrification, un d\u00e9clin fort et rapide des</span><span class=\"f charStyle-9c680f66 ps610\" style=\"width:1.93pt\"> </span></div><div class=\"ps22346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:75.52pt\">ventes de v\u00e9hicules</span><span class=\"f charStyle-165dec60 ps32720\" style=\"width:3.23pt\"> </span><span class=\"f charStyle-53279637 ps32721\" style=\"width:150.51pt\">thermiques dans le monde (hormis aux</span><span class=\"f charStyle-53279637 ps410\" style=\"width:1.85pt\"> </span></div><div class=\"ps22347 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:115.43pt\">\u00c9tats-Unis) combin\u00e9 \u00e0 une</span><span class=\"f charStyle-1abed7d4 ps32722\" style=\"width:113.87pt\"> croissance des ventes \u00e0</span><span class=\"f charStyle-1abed7d4 ps608\" style=\"width:1.93pt\"> </span></div><div class=\"ps22349 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps275\" style=\"width:146.66pt\">destination de v\u00e9hicules \u00e9lectriques</span><span class=\"f charStyle-165dec60 ps32723\" style=\"width:82.67pt\"> tr\u00e8s inf\u00e9rieure aux</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps22350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">pr\u00e9visions en raison d'une part de march\u00e9 inf\u00e9rieure \u00e0 celle</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps22354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">envisag\u00e9e dans les plans \u00e0 moyen terme du fait d\u2019un mix</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.21pt\">client d\u00e9favorable</span><span class=\"f charStyle-49b0b1fa ps32724\" style=\"width:1.47pt\">.</span></div><div class=\"ps22356 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Ce scenario a conduit \u00e0 simuler, pour la Division POWER, un</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps22357 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:121.43pt\">test de perte de valeur bas\u00e9 sur :</span></div><div class=\"ps32726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">une baisse des ventes de 10\u00a0% chaque ann\u00e9e par rapport</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32727 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.16pt\">aux projections du plan \u00e0 moyen terme de la Division</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps6597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">conduisant \u00e0 une diminution du taux de marge</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:82.65pt\">op\u00e9rationnelle de 1\u00a0% ;</span></div><div class=\"ps6598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">un taux de croissance \u00e0 l'infini nul au-del\u00e0 du dernier flux</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6599 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:78.05pt\">de tr\u00e9sorerie projet\u00e9.</span></div><div class=\"ps6600 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Cette simulation tr\u00e8s pessimiste n'aurait pas conduit \u00e0 la</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps6601 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">constatation d'une perte de valeur. La diminution de la</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps6602 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:26.99pt\">marge <span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps32728\" style=\"width:76.66pt\">du test de la Division</span><span class=\"f charStyle-49790afd ps32729\" style=\"width:1.9pt\"> </span><span class=\"f charStyle-9206869b ps26474\" style=\"width:120.43pt\">POWER serait de l'ordre de 75\u00a0%.</span><span class=\"f charStyle-9206869b ps32730\" style=\"width:1.9pt\"> </span></div><div class=\"ps6603 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">A contrario, dans un sc\u00e9nario optimiste, un d\u00e9clin plus fort et</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps6604 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">rapide des ventes mondiales de v\u00e9hicules thermiques au</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps6605 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:22.46pt\">profit </span><span class=\"f charStyle-c8069515 ps32731\" style=\"width:206.87pt\">d'une acc\u00e9l\u00e9ration de l'\u00e9lectrification pourrait \u00e9galement</span><span class=\"f charStyle-c8069515 ps450\" style=\"width:1.84pt\"> </span></div><div class=\"ps6607 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:32.69pt\">conduire</span><span class=\"f charStyle-165dec60 ps32732\" style=\"width:2.19pt\"> </span><span class=\"f charStyle-b2f078f6 ps32733\" style=\"width:194.45pt\">\u00e0 une croissance des ventes et de la profitabilit\u00e9 de la</span><span class=\"f charStyle-b2f078f6 ps450\" style=\"width:1.83pt\"> </span></div><div class=\"ps18520 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:28.67pt\">Division</span><span class=\"f charStyle-bd02d35c ps32734\" style=\"width:193.53pt\"> sup\u00e9rieure \u00e0 celle qu'anticipe actuellement le Groupe.</span></div><div class=\"ps6611 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">Compte tenu des orientations politiques du gouvernement</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps18434 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">am\u00e9ricain, un scenario envisageant un d\u00e9clin fort et rapide</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18435 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">des ventes de v\u00e9hicules thermiques aux \u00c9tats-Unis n\u2019a pas</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps18436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">\u00e9t\u00e9 jug\u00e9 pertinent par le Groupe. Par cons\u00e9quent, aucune</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps17553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.04pt\">analyse de </span><span class=\"f charStyle-81f42323 ps32735\" style=\"width:182.28pt\">sensibilit\u00e9 du test de perte de valeur de l\u2019UGT</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps6737 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:75.53pt\">Op\u00e9ration R\u00e9gionale</span><span class=\"f charStyle-165dec60 ps16314\" style=\"width:153.8pt\"> Drive Am\u00e9riques aux cons\u00e9quences du</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps6738 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:150.64pt\">changement climatique n\u2019a \u00e9t\u00e9 r\u00e9alis\u00e9e.</span></div><div class=\"ps6739 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.29pt\">Les \u00e9quipements de gestion thermique font l'objet</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps6741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:46.91pt\">d'adaptation</span><span class=\"f charStyle-165dec60 ps32736\" style=\"width:182.42pt\">s pour r\u00e9pondre aux contraintes sp\u00e9cifiques des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32738 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.73pt\">v\u00e9hicules \u00e0 </span><span class=\"f charStyle-81993cb5 ps32737\" style=\"width:185.6pt\">motorisation \u00e9lectrique, notamment pour garantir</span><span class=\"f charStyle-81993cb5 ps450\" style=\"width:1.87pt\"> </span></div><div class=\"ps32740 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:54.63pt\">leur efficience.</span><span class=\"f charStyle-165dec60 ps32739\" style=\"width:174.7pt\"> Pour autant, une partie des composants et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps32741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:80.23pt\">proc\u00e9d\u00e9s de gestion </span><span class=\"f charStyle-42e3db84 ps15564\" style=\"width:149.1pt\">thermique sont communs aux v\u00e9hicules</span><span class=\"f charStyle-42e3db84 ps450\" style=\"width:1.82pt\"> </span></div><div class=\"ps7141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:100.9pt\">\u00e0 motorisation thermique </span><span class=\"f charStyle-165dec60 ps32742\" style=\"width:49.37pt\">et \u00e9lectrique</span><span class=\"f charStyle-81f42323 ps32743\" style=\"width:79.06pt\">. De ce fait, la valeur</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps7142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:147.55pt\">d'utilit\u00e9 des UGT Op\u00e9ration R\u00e9gionale</span><span class=\"f charStyle-165dec60 ps32744\" style=\"width:81.72pt\"> Thermal Europe et</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps18983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Thermal Am\u00e9riques pr\u00e9sente une sensibilit\u00e9 moindre \u00e0</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps29304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:109.71pt\">l'\u00e9lectrification de la mobilit\u00e9.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-484": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i3de15c1197f54fabb728875589f6046d\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">6<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps30801\"><span style=\"display:inline-block;height:13.55pt;width:36.06pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Charges</span><span class=\"f charStyle-26f8f9e5 ps30802\"> et avantages du personnel<span class=\"f ps53\"> </span></span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">6.1<span id=\"if935ff16e5a847868d47ee7b1e5d3dae\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps27752\"><span style=\"display:inline-block;height:10.16pt;width:28.98pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Effectifs<span class=\"f ps53\"> </span></span></div><div class=\"ps29595 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:280.35pt\">Les effectifs du Groupe, incluant les effectifs int\u00e9rimaires, sont les suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps30807 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Effectifs totaux au 31 d\u00e9cembre <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.07pt\"></span></span><span class=\"ps30803\">100\u00a0216<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.36pt\"></span></span><span class=\"ps30804\">106\u00a0100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Effectifs moyens sur l'exercice<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.44pt\"></span></span><span class=\"ps30805\">103\u00a0372<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.77pt\"></span></span><span class=\"ps30806\">109\u00a0957<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30809 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">6.2<span id=\"i67970d61a1c84a13abe72265a9d08157\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30808\"><span style=\"display:inline-block;height:10.16pt;width:26.9pt\"></span></span><span class=\"ps408\">Avantages du personnel</span></span></div><div class=\"ps4890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les avantages du personnel sont \u00e9valu\u00e9s conform\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">\u00e0 la norme IAS\u00a019. Ils se d\u00e9composent entre avantages \u00e0</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">court terme, avantages \u00e0 long terme et indemnit\u00e9s de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:71.73pt\">cessation d'emploi.</span></div><div class=\"ps9151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:217.98pt\">Les salari\u00e9s du Groupe b\u00e9n\u00e9ficient d\u2019avantages \u00e0 court</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps9153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:22.9pt\">terme</span><span class=\"f charStyle-165dec60 ps19662\" style=\"width:195.09pt\"> tels que les cong\u00e9s pay\u00e9s, cong\u00e9s maladie, primes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:40.22pt\">et autres </span><span class=\"f charStyle-8de4ecd0 ps12407\" style=\"width:177.72pt\">avantages (autres que les indemnit\u00e9s de fin de</span><span class=\"f charStyle-8de4ecd0 ps610\" style=\"width:1.63pt\"> </span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8de4ecd0 ps6588\" style=\"width:60.78pt\">contrat) payables<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5e2d7321 ps30812\" style=\"width:7.52pt\"> d</span><span class=\"f charStyle-165dec60 ps30813\" style=\"width:149.68pt\">ans les douze mois suivant la fin de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">p\u00e9riode pendant laquelle les salari\u00e9s ont rendu les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:92.45pt\">services correspondants.</span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.94pt\">Ces avantages sont comptabilis\u00e9s dans les dettes</span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:33.54pt\">courante<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30814\" style=\"width:184.39pt\">s et enregistr\u00e9s en charges sur l\u2019exercice lorsque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:122.94pt\">le service est rendu par le salari\u00e9.</span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:217.94pt\">Les avantages \u00e0 long terme couvrent deux cat\u00e9gories</span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:42.34pt\">d\u2019avantages</span><span class=\"f charStyle-165dec60 ps4205\" style=\"width:54.58pt\"> au personnel\u00a0:</span></div><div class=\"ps12299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.3pt\">les avantages post\u00e9rieurs \u00e0 l\u2019emploi qui incluent</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:44.15pt\">notamment</span><span class=\"f charStyle-165dec60 ps30817\" style=\"width:168.12pt\"> les indemnit\u00e9s de d\u00e9part \u00e0 la retraite, les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">compl\u00e9ments de retraite ainsi que la couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:210.76pt\">certains frais m\u00e9dicaux pour les retrait\u00e9s et pr\u00e9retrait\u00e9s\u00a0;</span></div><div class=\"ps30818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">les autres avantages \u00e0 long terme (pendant l\u2019emploi) qui</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30819 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:190.08pt\">recouvrent principalement les m\u00e9dailles du travail.</span></div><div class=\"ps4890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps448\" style=\"width:217.94pt\">Les diff\u00e9rents avantages offerts \u00e0 chaque employ\u00e9</span><span class=\"f charStyle-b5684510 ps16283\" style=\"width:1.8pt\"> </span></div><div class=\"ps4891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps448\" style=\"width:40.57pt\">d\u00e9pendent</span><span class=\"f charStyle-165dec60 ps30820\" style=\"width:177.38pt\"> des l\u00e9gislations locales, conventions ou</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:194.56pt\">accords en vigueur dans chaque soci\u00e9t\u00e9 du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps8200 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:188.42pt\">Ces avantages se caract\u00e9risent de deux mani\u00e8res\u00a0:</span></div><div class=\"ps8201 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps26704\" style=\"width:212.26pt\">les r\u00e9gimes dits \u00e0 cotisations d\u00e9finies qui ne sont pas</span><span class=\"f charStyle-42e3db84 ps16299\" style=\"width:1.82pt\"> </span></div><div class=\"ps8117 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps26704\" style=\"width:35.78pt\">porteurs </span><span class=\"f charStyle-165dec60 ps30821\" style=\"width:176.51pt\">d\u2019engagement futur puisque l\u2019obligation de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps8202 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">l\u2019employeur est limit\u00e9e au versement r\u00e9gulier de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">cotisations\u00a0; ils sont enregistr\u00e9s en charge sur la base</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:88.77pt\">des appels \u00e0 cotisation\u00a0;</span></div><div class=\"ps30822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.26pt\">les r\u00e9gimes dits \u00e0 prestations d\u00e9finies par lesquels<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16299\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:42.52pt\">l\u2019employeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30823\" style=\"width:169.78pt\"> garantit un niveau futur de prestations. Une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.96pt\">obligation (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps30825\" style=\"width:34.22pt\">Note 6.3</span><span class=\"f charStyle-165dec60 ps30826\" style=\"width:118.07pt\">, pages 406 \u00e0 411) est alors</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">comptabilis\u00e9e au passif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:38.99pt\">financi\u00e8re.</span></div><div class=\"ps19599 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:457.41pt\">Le compte de r\u00e9sultat pr\u00e9sente les frais de personnel par destination. Ils comprennent notamment les \u00e9l\u00e9ments suivants\u00a0:</span></div><div class=\"ps30835 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Traitements et salaires </span><span class=\"f charStyle-4da12822 ps30830\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.78pt\"></span></span><span class=\"ps30831\">3\u00a0527<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.9pt\"></span></span><span class=\"ps30832\">3\u00a0838<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges sociales<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.33pt\"></span></span><span class=\"ps30412\">769<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.67pt\"></span></span><span class=\"ps30833\">793<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Paiements en actions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.39pt\"></span></span><span class=\"ps30658\">32<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Charges de retraite des r\u00e9gimes \u00e0 cotisations d\u00e9finies <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.65pt\"></span></span><span class=\"ps27738\">149<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.19pt\"></span></span><span class=\"ps27741\">167<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.7pt\"></span></span><span class=\"ps30834\">4\u00a0477<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.8pt\"></span></span><span class=\"ps27557\">4\u00a0820<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:89.61pt\">Effectifs int\u00e9rimaires inclus.</span></div><div class=\"ps2847 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:308.19pt\">Les charges de retraite des r\u00e9gimes \u00e0 prestations d\u00e9finies sont pr\u00e9sent\u00e9es dans la </span><span class=\"f charStyle-165dec60 ps30837\" style=\"width:30.69pt\">Note 6.3</span><span class=\"f charStyle-165dec60 ps13088\" style=\"width:63.08pt\">, pages 406 \u00e0 411.</span></div><div class=\"ps8954 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:321.28pt\">Les provisions pour plans de restructuration et litiges sociaux sont pr\u00e9sent\u00e9es dans la </span><span class=\"f charStyle-165dec60 ps30838\" style=\"width:29.39pt\">Note 8.1</span><span class=\"f charStyle-165dec60 ps30839\" style=\"width:68.98pt\">, pages 423 et 424.</span></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">6.3<span id=\"i8cdfdac1309b427ba0cfb3e072254a46\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps27888\"><span style=\"display:inline-block;height:10.16pt;width:26.88pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">P<span class=\"f ps53\"> </span></span><span class=\"f charStyle-25177d68 ps19676\">rovisions pour retraites et engagements assimil\u00e9s</span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:79.08pt\">Comme indiqu\u00e9 en </span><span class=\"f charStyle-165dec60 ps30841\" style=\"width:32.14pt\">Note 6.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps12323\" style=\"width:106.76pt\">, page 405, les avantages \u00e0</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">long terme pour les plans \u00e0 prestations d\u00e9finies cr\u00e9ent<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">une obligation comptabilis\u00e9e en provision pour retraites<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:100.05pt\">et engagements assimil\u00e9s.<span class=\"f ps53\"> </span></span></div><div class=\"ps2106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">La provision pour retraites est \u00e9gale \u00e0 la valeur actualis\u00e9e</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.93pt\">des obligations diminu\u00e9e, le cas \u00e9ch\u00e9ant, de la juste</span><span class=\"f charStyle-b2f078f6 ps415\" style=\"width:1.83pt\"> </span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:26.39pt\">valeur\u00a0</span><span class=\"f charStyle-165dec60 ps30842\" style=\"width:191.55pt\">des actifs vers\u00e9s dans des fonds affect\u00e9s \u00e0 leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">financement. Un exc\u00e9dent d\u2019actif n\u2019est comptabilis\u00e9 que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.94pt\">dans la mesure o\u00f9 il repr\u00e9sente des avantages<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:50.72pt\">\u00e9conomiques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30843\" style=\"width:167.25pt\"> futurs qui sont effectivement disponibles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:58.01pt\">pour le Groupe.</span></div><div class=\"ps2113 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">La provision pour les autres avantages \u00e0 long terme est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">quant \u00e0 elle \u00e9gale \u00e0 la valeur actualis\u00e9e des obligations.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les co\u00fbts attendus de ces avantages sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">en charges de personnel tout au long de la p\u00e9riode</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:137.88pt\">d\u2019activit\u00e9 du salari\u00e9 dans l\u2019entreprise.</span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:217.96pt\">La d\u00e9termination de ces provisions repose sur des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps608\" style=\"width:1.76pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:40.76pt\">\u00e9valuations</span><span class=\"f charStyle-165dec60 ps30844\" style=\"width:5.63pt\"> </span><span class=\"f charStyle-5064d44f ps30845\" style=\"width:171.56pt\">effectu\u00e9es par des actuaires ind\u00e9pendants</span><span class=\"f charStyle-5064d44f ps425\" style=\"width:1.89pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:70.1pt\">selon la m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30846\" style=\"width:10.04pt\"> d</span><span class=\"f charStyle-5064d44f ps30847\" style=\"width:137.8pt\">es unit\u00e9s de cr\u00e9dit projet\u00e9es avec</span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:97.48pt\">salaire de fin de carri\u00e8re. </span><span class=\"f charStyle-165dec60 ps30848\" style=\"width:120.5pt\">Ces \u00e9valuations int\u00e8grent aussi</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps8856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bien des hypoth\u00e8ses macro\u00e9conomiques propres \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps8857 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">chaque pays dans lesquels le Groupe op\u00e8re (taux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps8858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019actualisation, croissance des salaires, \u00e9volution des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps8859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9penses de sant\u00e9) que d\u00e9mographiques (taux de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">rotation des effectifs, \u00e2ge de d\u00e9part en retraite, esp\u00e9rance</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:26.22pt\">de vie).</span></div><div class=\"ps8863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s par r\u00e9f\u00e9rence</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">aux rendements procur\u00e9s par les obligations \u00e9mises par</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:15.74pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps30849\" style=\"width:202.2pt\">entreprises de premi\u00e8re cat\u00e9gorie (not\u00e9es AA) sur des</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:21.88pt\">dur\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30850\" style=\"width:7.29pt\">s </span><span class=\"f charStyle-c709af45 ps30851\" style=\"width:188.79pt\">\u00e9quivalentes \u00e0 celles des engagements \u00e0 la date</span><span class=\"f charStyle-c709af45 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:44.89pt\">d\u2019\u00e9valuation</span><span class=\"f charStyle-165dec60 ps30852\" style=\"width:173.08pt\">. Dans les pays o\u00f9 le march\u00e9 des obligations</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.49pt\">d\u2019entreprises de </span><span class=\"f charStyle-4300c10f ps30853\" style=\"width:153.48pt\">haute qualit\u00e9 est insuffisamment profond,</span><span class=\"f charStyle-4300c10f ps16278\" style=\"width:1.73pt\"> </span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4300c10f ps448\" style=\"width:83.41pt\">les taux d\u2019actualisation</span><span class=\"f charStyle-165dec60 ps30854\" style=\"width:134.58pt\"> sont mesur\u00e9s en r\u00e9f\u00e9rence \u00e0 des</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:90.16pt\">taux gouvernementaux.</span></div><div class=\"ps2107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Des \u00e9carts actuariels sont g\u00e9n\u00e9r\u00e9s lorsque des diff\u00e9rences</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont constat\u00e9es entre les donn\u00e9es r\u00e9elles et les pr\u00e9visions</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">effectu\u00e9es ant\u00e9rieurement, ou suite \u00e0 des changements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u2019hypoth\u00e8ses actuarielles. Dans le cas d\u2019avantages \u00e0 long</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">terme pendant l\u2019emploi, les \u00e9carts actuariels sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">reconnus imm\u00e9diatement en r\u00e9sultat. En revanche, en ce</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">qui concerne les avantages post\u00e9rieurs \u00e0 l\u2019emploi, les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.51pt\">\u00e9carts a</span><span class=\"f charStyle-9206869b ps30855\" style=\"width:188.46pt\">ctuariels g\u00e9n\u00e9r\u00e9s sont comptabilis\u00e9s dans l\u2019\u00e9tat du</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:30.16pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps30856\" style=\"width:109.71pt\">global, nets d\u2019imp\u00f4ts diff\u00e9r\u00e9s.</span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les co\u00fbts des services pass\u00e9s, r\u00e9sultant de l\u2019adoption d\u2019un<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">nouveau r\u00e9gime, de la modification d\u2019un r\u00e9gime existant</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00e0 prestations d\u00e9finies, sont imm\u00e9diatement</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:96.22pt\">comptabilis\u00e9s en r\u00e9sultat.</span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La charge comptabilis\u00e9e au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.18pt\">comprend\u00a0:</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">les co\u00fbts des services rendus au cours de l\u2019exercice, le</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">co\u00fbt des services pass\u00e9s, les \u00e9carts actuariels sur les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:42.15pt\">avantages </span><span class=\"f charStyle-d77d7991 ps30857\" style=\"width:170.14pt\">\u00e0 long terme pendant l'emploi ainsi que les</span><span class=\"f charStyle-d77d7991 ps16295\" style=\"width:1.91pt\"> </span></div><div class=\"ps30858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps26704\" style=\"width:61.52pt\">\u00e9ventuels effets</span><span class=\"f charStyle-165dec60 ps4863\" style=\"width:150.78pt\"> de toute r\u00e9duction, modification ou</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps8860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:84.7pt\">liquidation de r\u00e9gime\u00a0;</span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps26704\" style=\"width:212.3pt\">la charge nette d\u2019int\u00e9r\u00eats comptabilis\u00e9e en r\u00e9sultat</span><span class=\"f charStyle-c709af45 ps29668\" style=\"width:1.87pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps26704\" style=\"width:32.06pt\">financier<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30860\" style=\"width:2.16pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-858f3e4c ps30861\" style=\"width:178.05pt\">sur les obligations (effet de d\u00e9sactualisation) et le</span><span class=\"f charStyle-858f3e4c ps16283\" style=\"width:1.81pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps26704\" style=\"width:41.45pt\">rendement</span><span class=\"f charStyle-165dec60 ps30862\" style=\"width:136.13pt\"> attendu sur les actifs de couverture.<span class=\"f ps53\"> </span></span></div><div class=\"ps30864 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.3.1<span id=\"i51d07cff3fd04d448ad2c8719289d2f7\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30863\"><span style=\"display:inline-block;height:8.71pt;width:14.75pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Description des r\u00e9gimes<span class=\"f ps53\"> </span></span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Le Groupe a mis en place un nombre important de r\u00e9gimes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">\u00e0 prestations d\u00e9finies au b\u00e9n\u00e9fice de salari\u00e9s et d\u2019anciens<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">salari\u00e9s. Les caract\u00e9ristiques sp\u00e9cifiques de ces plans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.31pt\">(formules de prestations, pr\u00e9sence ou non d\u2019actifs de</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps30869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:58.16pt\">financement) </span><span class=\"f charStyle-165dec60 ps30868\" style=\"width:171.11pt\">varient en fonction des lois et des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:111.39pt\">r\u00e9glementations applicables </span><span class=\"f charStyle-81f42323 ps30870\" style=\"width:117.94pt\">dans chaque pays o\u00f9 travaillent</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps17521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:53.03pt\">les salari\u00e9s. Au\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps30872\" style=\"width:64.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps30873\" style=\"width:3.29pt\">, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30874\" style=\"width:15.53pt\">91 %</span><span class=\"f charStyle-165dec60 ps30875\" style=\"width:92.67pt\"> des provisions sont li\u00e9es</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps17523 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:179.82pt\">aux engagements post\u00e9rieurs \u00e0 l\u2019emploi, les </span><span class=\"f charStyle-165dec60 ps30876\" style=\"width:14.93pt\">9 %<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30877\" style=\"width:34.58pt\"> restants</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17524 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:186.83pt\">correspondant \u00e0 d\u2019autres avantages \u00e0 long terme.</span></div><div class=\"ps17525 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:229.31pt\">Les principaux r\u00e9gimes \u00e0 prestations d\u00e9finies post\u00e9rieurs \u00e0</span><span class=\"f charStyle-42e3db84 ps418\" style=\"width:1.82pt\"> </span></div><div class=\"ps17526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:30.58pt\">l\u2019emploi <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30878\" style=\"width:47pt\">concernent\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps30879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">des services de retraite compl\u00e9mentaire en Allemagne,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17528 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">aux \u00c9tats-Unis, au Japon et au Royaume-Uni qui s\u2019ajoutent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:89.51pt\">aux r\u00e9gimes nationaux\u00a0:</span></div><div class=\"ps4929 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps4383\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.09pt\">les droits aux pensions de retraite sont calcul\u00e9s en</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.16pt\">fonction des salaires de fin de carri\u00e8re et du nombre</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.14pt\">d\u2019ann\u00e9es d\u2019anciennet\u00e9 dans le Groupe. Certains r\u00e9gimes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.13pt\">sont pr\u00e9financ\u00e9s, en raison des contraintes l\u00e9gales</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.15pt\">locales (\u00c9tats\u2011Unis/Cor\u00e9e du Sud/Royaume-Uni) ou d\u2019une</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:214.04pt\">volont\u00e9 de l\u2019entreprise lors de la cr\u00e9ation du plan (Japon),</span></div><div class=\"ps29558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps4383\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.13pt\">la plupart des plans aux \u00c9tats-Unis sont d\u00e9sormais fig\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.13pt\">et\u00a0ne donnent droit aujourd\u2019hui \u00e0 aucun avantage</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:63.5pt\">suppl\u00e9mentaire\u00a0;</span></div><div class=\"ps30880 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.16pt\">des indemnit\u00e9s de fin de carri\u00e8re en France ou de</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps30881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">cessation de service en Cor\u00e9e du Sud, au Mexique ou en</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps30882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:21.82pt\">Italie\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps8800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps4383\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.1pt\">ce sont des indemnit\u00e9s forfaitaires calcul\u00e9es en fonction</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps21850 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.12pt\">du nombre d\u2019ann\u00e9es de service du salari\u00e9 et de son</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps21852 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.11pt\">salaire annuel au moment soit de son d\u00e9part \u00e0 la retraite</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps21854 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps269\" style=\"width:215.09pt\">(cas de la France), soit de son d\u00e9part de la soci\u00e9t\u00e9 quelle</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps6804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.08pt\">que soit la raison de ce d\u00e9part (d\u00e9part \u00e0 la retraite,</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps6807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.15pt\">d\u00e9part volontaire ou licenciement) comme c\u2019est le cas en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6809 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:145.28pt\">Cor\u00e9e du Sud, au Mexique ou en Italie\u00a0;</span></div><div class=\"ps30883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps930\" style=\"width:222.22pt\">des plans de couverture maladie pendant la p\u00e9riode de</span><span class=\"f charStyle-9206869b ps460\" style=\"width:1.9pt\"> </span></div><div class=\"ps6812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps930\" style=\"width:27.09pt\">retraite</span><span class=\"f charStyle-165dec60 ps30884\" style=\"width:59.64pt\"> aux \u00c9tats-Unis\u00a0:</span></div><div class=\"ps9011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps981\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.13pt\">Valeo contribue en effet financi\u00e8rement aux r\u00e9gimes de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps9012 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.14pt\">remboursement de frais m\u00e9dicaux et d\u2019assurance-vie</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9013 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.15pt\">pour certains salari\u00e9s retrait\u00e9s aux \u00c9tats-Unis. Ces plans</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps30885 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.08pt\">ne sont pas couverts par des actifs de financement et</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps9224 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.1pt\">sont tous aujourd\u2019hui fig\u00e9s (le dernier plan a \u00e9t\u00e9 gel\u00e9 au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9226 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:2.7pt\">1</span><span class=\"f charStyle-47cc131c ps30886\" style=\"width:9.3pt\"><sup>er\u00a0</sup></span><span class=\"f charStyle-165dec60 ps30887\" style=\"width:203.16pt\">janvier\u00a02012). Pour les participants au r\u00e9gime qui</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9228 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.14pt\">continuent de travailler pour le Groupe, aucun avantage</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9231 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.13pt\">suppl\u00e9mentaire n\u2019est donc accord\u00e9 au titre de ces</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps9234 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:102.07pt\">r\u00e9gimes depuis cette date\u00a0;</span></div><div class=\"ps9022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">des plans de retraites suppl\u00e9mentaires pour certains</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps9025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:159.58pt\">cadres et\u00a0dirigeants du Groupe en France\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps9026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps981\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.16pt\">aujourd\u2019hui ces plans sont tous ferm\u00e9s aux nouveaux</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.09pt\">entrants (le dernier plan actif concernant les \u00ab\u00a0Cadres</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.1pt\">hors cat\u00e9gorie\u00a0\u00bb de Valeo a \u00e9t\u00e9 ferm\u00e9 \u00e0 tout nouvel</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps9033 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.16pt\">entrant au 30\u00a0juin 2017). Depuis le 3 juillet 2019, aucun</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9035 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.13pt\">nouveau droit suppl\u00e9mentaire conditionnel \u00e0 prestations</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps9037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.16pt\">ne peut \u00eatre acquis, au sein de ces plans, au titre des</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9038 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:139.88pt\">p\u00e9riodes d'emploi post\u00e9rieures au 1</span><span class=\"f charStyle-47cc131c ps30888\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps30889\" style=\"width:70.34pt\">\u00a0janvier\u00a02020. Ces</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps9039 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.11pt\">r\u00e9gimes sont couverts pour les retrait\u00e9s, par une</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps9040 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.15pt\">compagnie d\u2019assurance. L\u2019engagement est provisionn\u00e9</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps9041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.16pt\">sur la base de la valeur actuelle probable des prestations</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9042 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.16pt\">futures en rapportant l\u2019anciennet\u00e9 \u00e0 la date de cl\u00f4ture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9043 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.12pt\">l\u2019exercice \u00e0 l\u2019anciennet\u00e9 \u00e0 la date de d\u00e9part, \u00e9tant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9044 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:190.11pt\">donn\u00e9e la persistance de la condition de pr\u00e9sence,</span></div><div class=\"ps30890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-98f46611 ps981\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps982\" style=\"width:215.11pt\">la part sp\u00e9cifique des engagements relatifs aux</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps30893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps982\" style=\"width:140.96pt\">dirigeants du Groupe est d\u00e9taill\u00e9e en </span><span class=\"f charStyle-165dec60 ps30891\" style=\"width:30.71pt\">Note 6.5</span><span class=\"f charStyle-165dec60 ps30892\" style=\"width:38.13pt\">, page 413.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.17pt\">La duration moyenne de ces principaux r\u00e9gimes et les effectifs inclus dans ces plans par zone g\u00e9ographique sont les suivants au</span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps9314\" style=\"width:3.55pt\">\u00a0:</span></div><div class=\"ps6896 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:229.5pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30895 ss684\"><div><div class=\"ps4232 ss379\"><span class=\"f charStyle-ae6044e9 ps30894\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30897 ss684\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-ae6044e9 ps10922\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss379\"><span class=\"f charStyle-ae6044e9 ps27389\">pays <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss379\"><span class=\"f charStyle-ae6044e9 ps30896\">d'Europe</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30898 ss684\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-ae6044e9 ps16780\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss379\"><span class=\"f charStyle-ae6044e9 ps15645\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30900 ss684\"><div><div class=\"ps4232 ss379\"><span class=\"f charStyle-ae6044e9 ps30899\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss684\"><div><div class=\"ps4232 ss379\"><span class=\"f charStyle-6bef0edd ps9863\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1946\"><div><div class=\"ps746 ss485\"><span class=\"f charStyle-a696f64a ps10\">Employ\u00e9s actifs salari\u00e9s Valeo<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30902 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.91pt\"></span></span><span class=\"ps30901\">9\u00a0905<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30904 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.38pt\"></span></span><span class=\"ps30903\">21\u00a0051<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30906 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.25pt\"></span></span><span class=\"ps30905\">11\u00a0743<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30907 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.53pt\"></span></span><span class=\"ps8580\">12\u00a0876<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30909 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.86pt\"></span></span><span class=\"ps30908\">55\u00a0575<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1946\"><div><div class=\"ps746 ss485\"><span class=\"f charStyle-a696f64a ps10\">Employ\u00e9s actifs ayant quitt\u00e9 le Groupe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30910 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30911 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.8pt\"></span></span><span class=\"ps535\">4\u00a0006<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30912 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.15pt\"></span></span><span class=\"ps10935\">773<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30914 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.29pt\"></span></span><span class=\"ps30913\">572<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30916 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.83pt\"></span></span><span class=\"ps30915\">5\u00a0351<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss1946\"><div><div class=\"ps746 ss485\"><span class=\"f charStyle-a696f64a ps10\">Retrait\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30917 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.94pt\"></span></span><span class=\"ps9437\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30919 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.82pt\"></span></span><span class=\"ps30918\">5\u00a0312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30921 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.78pt\"></span></span><span class=\"ps30920\">4\u00a0951<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30922 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.02pt\"></span></span><span class=\"ps16353\">1\u00a0291<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30924 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.79pt\"></span></span><span class=\"ps30923\">11\u00a0556<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss1946\"><div><div class=\"ps746 ss485\"><span class=\"f charStyle-3f403986 ps10\">NOMBRE DE B\u00c9N\u00c9FICIAIRES TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30926 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.79pt\"></span></span><span class=\"ps30925\">9\u00a0907<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30928 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.56pt\"></span></span><span class=\"ps30927\">30\u00a0369<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30930 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.9pt\"></span></span><span class=\"ps30929\">17\u00a0467<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30931 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.11pt\"></span></span><span class=\"ps16600\">14\u00a0739<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30933 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.47pt\"></span></span><span class=\"ps30932\">72\u00a0482<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss1947\"><div><div class=\"ps509 ss485\"><span class=\"f charStyle-044fe383 ps10\">Duration moyenne des r\u00e9gimes post\u00e9rieurs \u00e0\u00a0l'emploi </span></div><div class=\"ps30934 ss485\"><span class=\"f charStyle-a8abcdde ps10\">(en\u00a0nombre\u00a0d'ann\u00e9es)</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30936 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.79pt\"></span></span><span class=\"ps30935\">11<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30938 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.27pt\"></span></span><span class=\"ps30937\">13<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30940 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.63pt\"></span></span><span class=\"ps30939\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30941 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.63pt\"></span></span><span class=\"ps30939\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30943 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.53pt\"></span></span><span class=\"ps30942\">10<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">\u00c0 cela s\u2019ajoutent d\u2019autres avantages \u00e0 long terme sous forme principalement de m\u00e9dailles du travail ou gratifications</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps30946 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:317.51pt\">d\u2019anciennet\u00e9 principalement en France, en Allemagne, en Cor\u00e9e du Sud et en Chine.</span><span class=\"f charStyle-165dec60 ps30945\" style=\"width:1.96pt\"> </span></div><div class=\"ps19576 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:315.13pt\">Tous ces r\u00e9gimes sont comptabilis\u00e9s conform\u00e9ment \u00e0 la m\u00e9thode d\u00e9crite ci-dessus.</span></div><div class=\"ps30948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.3.2<span id=\"i4a00e367cfda434da11eff22e6bc0ca7\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30947\"><span style=\"display:inline-block;height:8.71pt;width:12.96pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Hypoth\u00e8ses actuarielles<span class=\"f ps53\"> </span></span></div><div class=\"ps15090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.3pt\">Les taux retenus pour l\u2019\u00e9valuation des engagements, pour les pays dont les engagements sont les plus significatifs, sont les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:34.51pt\">suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps30955 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-ae6044e9 ps10\">Pays<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Zone Euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.13pt\"></span></span><span class=\"ps30949\">4,25<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30950\"></span><span class=\"ps30950\">3,40<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Royaume-Uni<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.85pt\"></span></span><span class=\"ps30951\">5,55<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30952\"></span><span class=\"ps30952\">5,50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9tats-Unis<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.15pt\"></span></span><span class=\"ps30953\">5,30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30952\"></span><span class=\"ps30952\">5,50<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Japon<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.52pt\"></span></span><span class=\"ps27852\">2,65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30954\"></span><span class=\"ps30954\">1,80<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cor\u00e9e du Sud<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.71pt\"></span></span><span class=\"ps30683\">4,40<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30950\"></span><span class=\"ps30950\">4,30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:308.59pt\">Le taux moyen pond\u00e9r\u00e9 de progression des salaires \u00e0 long terme est d\u2019environ </span><span class=\"f charStyle-165dec60 ps20093\" style=\"width:13.43pt\">3\u00a0%</span><span class=\"f charStyle-165dec60 ps30956\" style=\"width:15.46pt\"> au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30957\" style=\"width:69.54pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30958\" style=\"width:74.15pt\">, stable par rapport<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:61.18pt\">au\u00a031\u00a0d\u00e9cembre </span><span class=\"f charStyle-165dec60 ps13888\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30960\" style=\"width:1.59pt\">.</span></div><div class=\"ps11892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.25pt\">La sensibilit\u00e9 des principaux engagements \u00e0 une variation de plus ou moins 1\u00a0point des taux d\u2019actualisation et du taux d\u2019inflation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps11893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:96.42pt\">est pr\u00e9sent\u00e9e ci-apr\u00e8s en </span><span class=\"f charStyle-165dec60 ps30962\" style=\"width:36.69pt\">Note 6.3.7</span><span class=\"f charStyle-165dec60 ps30963\" style=\"width:36.61pt\">, page 411.</span></div><span class=\"f charStyle-b11f9a65 ps27528\">6.3.3</span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30964\"><span style=\"display:inline-block;height:8.71pt;width:10.41pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">D\u00e9tail et \u00e9volution des engagements<span class=\"f ps53\"> </span></span><div class=\"ps30966 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:361.92pt\">Les engagements et provisions se d\u00e9composent comme suit par principale zone g\u00e9ographique\u00a0:</span></div><div class=\"ps30967 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span class=\"f ps53\"> </span><span id=\"i36569fd968ae42b3ab3ca8d37fbaabef\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025<span class=\"f ps53\"> </span></span></div><div class=\"ps31008 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:253.5pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:38.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1949\"><div><div class=\"ps30968 ss1948\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30969 ss1950\"><div><div class=\"ps4232 ss10\"><span class=\"f charStyle-ae6044e9 ps16782\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30970 ss684\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-ae6044e9 ps10922\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss379\"><span class=\"f charStyle-ae6044e9 ps27389\">pays<span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss379\"><span class=\"f charStyle-ae6044e9 ps30896\">d'Europe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28762 ss684\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-98f46611 ps16780\">Am\u00e9rique</span></div><div class=\"ps4232 ss379\"><span class=\"f charStyle-98f46611 ps3108\">du Nord\u00a0</span><span class=\"f charStyle-d93fd2c0 ps30971\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps23156 ss1950\"><div><div class=\"ps4232 ss10\"><span class=\"f charStyle-ae6044e9 ps23702\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss684\"><div><div class=\"ps4232 ss379\"><span class=\"f charStyle-6bef0edd ps9863\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1951\"><div><div class=\"ps746 ss1948\"><span class=\"f charStyle-044fe383 ps10\">Valeur actuelle des engagements non couverts par\u00a0des actifs</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30973 ss41\"><div><div class=\"ps509 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.15pt\"></span></span><span class=\"ps30972\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30974 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.55pt\"></span></span><span class=\"ps10028\">398<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30975 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.5pt\"></span></span><span class=\"ps29973\">104<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30976 ss41\"><div><div class=\"ps509 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.77pt\"></span></span><span class=\"ps9796\">86<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30909 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.33pt\"></span></span><span class=\"ps30977\">707<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1951\"><div><div class=\"ps746 ss1948\"><span class=\"f charStyle-044fe383 ps10\">Valeur actuelle des engagements couverts par\u00a0des\u00a0actifs</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30978 ss41\"><div><div class=\"ps509 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.11pt\"></span></span><span class=\"ps16606\">38<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30980 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.49pt\"></span></span><span class=\"ps30979\">131<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30981 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.49pt\"></span></span><span class=\"ps3795\">270<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30982 ss41\"><div><div class=\"ps509 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.15pt\"></span></span><span class=\"ps30972\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30916 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.22pt\"></span></span><span class=\"ps30983\">557<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss1951\"><div><div class=\"ps746 ss1948\"><span class=\"f charStyle-a696f64a ps10\">Valeur de march\u00e9 des actifs investis<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30985 ss41\"><div><div class=\"ps509 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">(18)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30986 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.13pt\"></span></span><span class=\"ps28686\">(90)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30988 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.58pt\"></span></span><span class=\"ps30987\">(277)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30989 ss41\"><div><div class=\"ps509 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.51pt\"></span></span><span class=\"ps3609\">(133)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30924 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.93pt\"></span></span><span class=\"ps26032\">(518)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10260 ss1951\"><div><div class=\"ps746 ss1948\" style=\"font-size:12pt\"><span class=\"f charStyle-96b05324 ps10\">PROVISIONS NETTES CONSTITU\u00c9ES AU\u00a0\u00a0</span><span class=\"f charStyle-96b05324 ps30990\">31\u00a0D\u00c9CEMBRE 2025</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30991 ss41\"><div><div class=\"ps746 ss10\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.7pt\"></span></span><span class=\"ps23471\">139<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30993 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.33pt\"></span></span><span class=\"ps30992\">438<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30995 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.51pt\"></span></span><span class=\"ps30994\">97<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30996 ss41\"><div><div class=\"ps746 ss10\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.85pt\"></span></span><span class=\"ps8310\">73<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30933 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.26pt\"></span></span><span class=\"ps30997\">746<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10265 ss1951\"><div><div class=\"ps746 ss1948\" style=\"font-size:12pt\"><span class=\"f charStyle-044fe383 ps10\">Effectifs permanents au </span><span class=\"f charStyle-165dec60 ps30998\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps30999\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-4da12822 ps31000\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31001 ss41\"><div><div class=\"ps746 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.15pt\"></span></span><span class=\"ps28900\">9\u00a0287<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31003 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.2pt\"></span></span><span class=\"ps31002\">33\u00a0261<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31005 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.51pt\"></span></span><span class=\"ps31004\">15\u00a0008<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31007 ss41\"><div><div class=\"ps746 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:6.78pt\"></span></span><span class=\"ps31006\">20\u00a0420<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30943 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.8pt\"></span></span><span class=\"ps26809\">77\u00a0976<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.15pt\">Les engagements non couverts par des actifs en Am\u00e9rique du Nord incluent notamment des plans m\u00e9dicaux aux \u00c9tats-Unis \u00e0 hauteur de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps460\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:61.75pt\">36\u00a0millions\u00a0d\u2019euros.</span></div><div class=\"ps31011 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les effectifs permanents pr\u00e9sent\u00e9s n\u2019incluent pas ceux de l\u2019Am\u00e9rique du Sud pour lesquels aucun engagement n\u2019est comptabilis\u00e9 au titre des</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps31012 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.12pt\">retraites et autres avantages \u00e0 long terme. Les engagements en Am\u00e9rique du Nord sont \u00e9lev\u00e9s au regard des effectifs permanents du Groupe<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps458\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31013 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:361.33pt\">dans cette zone, car une part significative est li\u00e9e \u00e0 des retrait\u00e9s ou d\u2019anciens salari\u00e9s qui ont quitt\u00e9 le Groupe.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"id3786af1c89e4107af9582222236b824\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024<span class=\"f ps53\"> </span></span></div><div class=\"ps3228 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:250.5pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1953\"><div><div class=\"ps10309 ss1952\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28232 ss267\"><div><div class=\"ps9323 ss208\"><span class=\"f charStyle-ae6044e9 ps31015\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps12989 ss1954\"><div><div class=\"ps9319 ss379\"><span class=\"f charStyle-ae6044e9 ps10922\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss379\"><span class=\"f charStyle-ae6044e9 ps27389\">pays<span class=\"f ps53\"> </span></span></div><div class=\"ps9323 ss379\"><span class=\"f charStyle-ae6044e9 ps30896\">d'Europe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps329 ss1954\"><div><div class=\"ps9321 ss379\"><span class=\"f charStyle-98f46611 ps16780\">Am\u00e9rique</span></div><div class=\"ps9323 ss379\"><span class=\"f charStyle-98f46611 ps3108\">du Nord\u00a0</span><span class=\"f charStyle-d93fd2c0 ps30971\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16341 ss267\"><div><div class=\"ps9323 ss208\"><span class=\"f charStyle-ae6044e9 ps29110\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss1954\"><div><div class=\"ps9323 ss379\"><span class=\"f charStyle-6bef0edd ps9863\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-044fe383 ps10\">Valeur actuelle des engagements non couverts par\u00a0des actifs </span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31017 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.42pt\"></span></span><span class=\"ps31016\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31018 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.96pt\"></span></span><span class=\"ps3784\">442<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31019 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.5pt\"></span></span><span class=\"ps29973\">104<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.39pt\"></span></span><span class=\"ps26445\">109<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31021 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.96pt\"></span></span><span class=\"ps3784\">780<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-044fe383 ps10\">Valeur actuelle des engagements couverts par des\u00a0actifs</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31022 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.69pt\"></span></span><span class=\"ps4281\">31<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31023 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.22pt\"></span></span><span class=\"ps25814\">145<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31024 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.52pt\"></span></span><span class=\"ps27391\">307<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31026 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.47pt\"></span></span><span class=\"ps31025\">133<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31028 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.29pt\"></span></span><span class=\"ps31027\">616<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Valeur de march\u00e9 des actifs investis<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31029 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.21pt\"></span></span><span class=\"ps26166\">(15)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31031 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.87pt\"></span></span><span class=\"ps31030\">(93)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31033 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.48pt\"></span></span><span class=\"ps31032\">(312)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31035 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.94pt\"></span></span><span class=\"ps31034\">(146)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31037 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.29pt\"></span></span><span class=\"ps31036\">(566)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10370 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-96b05324 ps10\">PROVISIONS NETTES CONSTITU\u00c9ES AU\u00a0</span><span class=\"f charStyle-96b05324 ps31038\">31\u00a0D\u00c9CEMBRE 2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-96b05324 ps31039\"> <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31040 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.3pt\"></span></span><span class=\"ps17694\">141<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31042 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.75pt\"></span></span><span class=\"ps31041\">494<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31044 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.39pt\"></span></span><span class=\"ps31043\">99<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31045 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.89pt\"></span></span><span class=\"ps10897\">96<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31047 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.45pt\"></span></span><span class=\"ps31046\">830<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-044fe383 ps10\">Effectifs permanents au </span><span class=\"f charStyle-165dec60 ps30998\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps31048\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-4da12822 ps31049\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31051 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.06pt\"></span></span><span class=\"ps31050\">10\u00a0790<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31053 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.81pt\"></span></span><span class=\"ps31052\">35\u00a0031<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3799 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.84pt\"></span></span><span class=\"ps3759\">16\u00a0265<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31055 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9pt\"></span></span><span class=\"ps31054\">22\u00a0054<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31057 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.81pt\"></span></span><span class=\"ps31056\">84\u00a0140<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.11pt\">Les engagements non couverts par des actifs en Am\u00e9rique du Nord incluent notamment des plans m\u00e9dicaux aux \u00c9tats-Unis \u00e0 hauteur</span><span class=\"f charStyle-776a1ec6 ps455\" style=\"width:1.7pt\"> </span></div><div class=\"ps31059 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:72.4pt\">de\u00a046\u00a0millions\u00a0d\u2019euros.</span></div><div class=\"ps31060 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.17pt\">Les effectifs permanents pr\u00e9sent\u00e9s n\u2019incluent pas ceux de l\u2019Am\u00e9rique du Sud pour lesquels aucun engagement n\u2019est comptabilis\u00e9 au titre</span><span class=\"f charStyle-776a1ec6 ps450\" style=\"width:1.7pt\"> </span></div><div class=\"ps31061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">des\u00a0retraites et autres avantages \u00e0 long terme. Les engagements en Am\u00e9rique du Nord sont \u00e9lev\u00e9s au regard des effectifs permanents du</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps31062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:387.4pt\">Groupe dans cette zone, car une part significative est li\u00e9e \u00e0 des retrait\u00e9s ou d\u2019anciens salari\u00e9s qui ont quitt\u00e9 le Groupe.</span></div><div class=\"ps20184 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:281.77pt\">L\u2019\u00e9volution des engagements par grande zone g\u00e9ographique sur les exercices </span><span class=\"f charStyle-81f42323 ps29753\" style=\"width:16.98pt\">2025</span><span class=\"f charStyle-81f42323 ps5267\" style=\"width:10.77pt\"> et </span><span class=\"f charStyle-81f42323 ps31063\" style=\"width:17.69pt\">2024</span><span class=\"f charStyle-81f42323 ps31064\" style=\"width:142.89pt\"> est d\u00e9taill\u00e9e dans les tableaux suivants :<span class=\"f ps53\"> </span></span></div><div class=\"ps31065 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i2b95053fde7444d8aa03db61cb03b565\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025<span class=\"f ps53\"> </span></span></div><div class=\"ps31129 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1958 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:250.5pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:75pt\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1953\"><div><div class=\"ps10309 ss1952\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28232 ss267\"><div><div class=\"ps9323 ss208\"><span class=\"f charStyle-ae6044e9 ps31015\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps12989 ss1954\"><div><div class=\"ps9319 ss379\"><span class=\"f charStyle-ae6044e9 ps10922\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss379\"><span class=\"f charStyle-ae6044e9 ps27389\">pays <span class=\"f ps53\"> </span></span></div><div class=\"ps9323 ss379\"><span class=\"f charStyle-ae6044e9 ps30896\">d'Europe</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps329 ss1954\"><div><div class=\"ps9321 ss379\"><span class=\"f charStyle-ae6044e9 ps16780\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps9323 ss379\"><span class=\"f charStyle-ae6044e9 ps15645\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16341 ss267\"><div><div class=\"ps9323 ss208\"><span class=\"f charStyle-ae6044e9 ps29110\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss1954\"><div><div class=\"ps9323 ss379\"><span class=\"f charStyle-6bef0edd ps9863\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ENGAGEMENTS AU 1</span><span class=\"f charStyle-f4bb8995 ps31067\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps31068\"> </span><span class=\"f charStyle-3f403986 ps31069\">JANVIER 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31017 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.52pt\"></span></span><span class=\"ps10531\">156<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31018 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.13pt\"></span></span><span class=\"ps26064\">587<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31019 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.15pt\"></span></span><span class=\"ps28207\">411<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.69pt\"></span></span><span class=\"ps6893\">242<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31021 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.15pt\"></span></span><span class=\"ps31070\">1\u00a0396<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-044fe383 ps10\">\u00c9carts actuariels reconnus en autres \u00e9l\u00e9ments du\u00a0r\u00e9sultat global</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31022 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.28pt\"></span></span><span class=\"ps14722\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31023 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.54pt\"></span></span><span class=\"ps25636\">(54)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31024 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.25pt\"></span></span><span class=\"ps11136\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31026 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.67pt\"></span></span><span class=\"ps31071\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31028 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.53pt\"></span></span><span class=\"ps31072\">(50)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3773 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Prestations vers\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31073 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.67pt\"></span></span><span class=\"ps31071\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31074 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3781 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.1pt\"></span></span><span class=\"ps525\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31076 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.06pt\"></span></span><span class=\"ps31075\">(34)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31077 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.51pt\"></span></span><span class=\"ps10026\">(109)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31078 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31080 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31082 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.17pt\"></span></span><span class=\"ps31081\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31084 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32pt\"></span></span><span class=\"ps31083\">(48)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31085 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.42pt\"></span></span><span class=\"ps31016\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31086 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.99pt\"></span></span><span class=\"ps4234\">(80)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22927 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31088 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.98pt\"></span></span><span class=\"ps31087\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31089 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31090 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31091 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31092 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17407 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-044fe383 ps10\">Charges/(produits) de l'exercice\u00a0:</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31094 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.58pt\"></span></span><span class=\"ps31093\">17<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31096 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.72pt\"></span></span><span class=\"ps31095\">32<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31097 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.72pt\"></span></span><span class=\"ps31095\">32<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31098 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.51pt\"></span></span><span class=\"ps24829\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31099 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.83pt\"></span></span><span class=\"ps9406\">110<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10268 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Co\u00fbt des services rendus</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31101 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.48pt\"></span></span><span class=\"ps31100\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31103 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.71pt\"></span></span><span class=\"ps31102\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31104 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.95pt\"></span></span><span class=\"ps28445\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31105 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.21pt\"></span></span><span class=\"ps10979\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31106 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.38pt\"></span></span><span class=\"ps9345\">62<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps783 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Charge d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31107 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.45pt\"></span></span><span class=\"ps31046\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31109 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.24pt\"></span></span><span class=\"ps31108\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3828 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.24pt\"></span></span><span class=\"ps31108\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31111 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31112 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35pt\"></span></span><span class=\"ps25993\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps15666 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Autres\u00a0</span><span class=\"f charStyle-ee1faa92 ps31113\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31114 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.67pt\"></span></span><span class=\"ps31071\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31116 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.32pt\"></span></span><span class=\"ps31115\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31117 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.95pt\"></span></span><span class=\"ps28445\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31118 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31119 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.49pt\"></span></span><span class=\"ps10034\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ENGAGEMENTS AU </span><span class=\"f charStyle-3f403986 ps31120\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31121 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.52pt\"></span></span><span class=\"ps10531\">156<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31122 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.2pt\"></span></span><span class=\"ps10859\">530<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31124 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.94pt\"></span></span><span class=\"ps31123\">374<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31126 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">204<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31128 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.78pt\"></span></span><span class=\"ps31127\">1\u00a0264<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps11050 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.04pt\">La ligne \u00ab\u00a0Autres\u00a0\u00bb comprend principalement les \u00e9carts actuariels reconnus imm\u00e9diatement au compte de r\u00e9sultat, les effets des co\u00fbts des</span><span class=\"f charStyle-776a1ec6 ps1722\" style=\"width:1.7pt\"> </span></div><div class=\"ps11051 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:130.89pt\">services pass\u00e9s et profits sur liquidation.</span></div><div class=\"ps21241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:53.56pt\">Sur l\u2019exercice </span><span class=\"f charStyle-9c680f66 ps31130\" style=\"width:17.58pt\">2025</span><span class=\"f charStyle-9c680f66 ps31131\" style=\"width:18.33pt\">, les </span><span class=\"f charStyle-9c680f66 ps31132\" style=\"width:59.52pt\">gains actuariels</span><span class=\"f charStyle-9c680f66 ps31133\" style=\"width:16.21pt\"> de </span><span class=\"f charStyle-9c680f66 ps31134\" style=\"width:41.65pt\">50 millions</span><span class=\"f charStyle-9c680f66 ps31135\" style=\"width:154.46pt\"> d'euros r\u00e9sultent principalement de la </span><span class=\"f charStyle-9c680f66 ps31136\" style=\"width:26.2pt\">hausse</span><span class=\"f charStyle-9c680f66 ps31137\" style=\"width:93.83pt\"> des taux d\u2019actualisation</span><span class=\"f charStyle-9c680f66 ps450\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps21242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:45.5pt\">notamment</span><span class=\"f charStyle-165dec60 ps31138\" style=\"width:115.42pt\"> dans la zone euro et au Japon.</span><span class=\"f charStyle-165dec60 ps31139\" style=\"width:1.96pt\"> </span></div><div class=\"ps31140 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i32d7fcb244764110abbfc0b2b9d28a47\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps31153 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:250.5pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:30pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1953\"><div><div class=\"ps10309 ss1952\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28232 ss267\"><div><div class=\"ps9323 ss208\"><span class=\"f charStyle-ae6044e9 ps31015\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps12989 ss1954\"><div><div class=\"ps9319 ss379\"><span class=\"f charStyle-ae6044e9 ps10922\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss379\"><span class=\"f charStyle-ae6044e9 ps27389\">pays <span class=\"f ps53\"> </span></span></div><div class=\"ps9323 ss379\"><span class=\"f charStyle-ae6044e9 ps30896\">d'Europe</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps329 ss1954\"><div><div class=\"ps9321 ss379\"><span class=\"f charStyle-ae6044e9 ps16780\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps9323 ss379\"><span class=\"f charStyle-ae6044e9 ps15645\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16341 ss267\"><div><div class=\"ps9323 ss208\"><span class=\"f charStyle-ae6044e9 ps29110\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss1954\"><div><div class=\"ps9323 ss379\"><span class=\"f charStyle-6bef0edd ps9863\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ENGAGEMENTS AU 1</span><span class=\"f charStyle-f4bb8995 ps31067\"><span class=\"f ps53\"> </span><sup>ER\u00a0</sup></span><span class=\"f charStyle-3f403986 ps31141\">\u00a0</span><span class=\"f charStyle-3f403986 ps31142\">JANVIER 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31017 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.94pt\"></span></span><span class=\"ps10815\">174<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31018 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.17pt\"></span></span><span class=\"ps11177\">604<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31019 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.32pt\"></span></span><span class=\"ps25841\">416<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.16pt\"></span></span><span class=\"ps9814\">248<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31021 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.39pt\"></span></span><span class=\"ps10784\">1\u00a0442<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-044fe383 ps10\">\u00c9carts actuariels reconnus en autres \u00e9l\u00e9ments du\u00a0r\u00e9sultat global</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31022 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.28pt\"></span></span><span class=\"ps29192\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31023 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.53pt\"></span></span><span class=\"ps31072\">(24)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31024 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.62pt\"></span></span><span class=\"ps31143\">(17)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31026 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.44pt\"></span></span><span class=\"ps31144\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31028 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.26pt\"></span></span><span class=\"ps31145\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3773 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Prestations vers\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31073 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.02pt\"></span></span><span class=\"ps25473\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31074 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3781 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.95pt\"></span></span><span class=\"ps28672\">(36)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31076 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.31pt\"></span></span><span class=\"ps31146\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31077 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.92pt\"></span></span><span class=\"ps30010\">(117)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31078 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31080 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31082 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.94pt\"></span></span><span class=\"ps9437\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31084 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.7pt\"></span></span><span class=\"ps31147\">25<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31085 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.45pt\"></span></span><span class=\"ps31148\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31086 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.93pt\"></span></span><span class=\"ps10366\">19<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22927 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31088 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31089 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31090 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31091 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.82pt\"></span></span><span class=\"ps30918\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31092 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.17pt\"></span></span><span class=\"ps31081\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17407 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-044fe383 ps10\">Charges/(produits) de l'exercice\u00a0:</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31094 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.99pt\"></span></span><span class=\"ps31149\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31096 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.56pt\"></span></span><span class=\"ps31150\">37<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31097 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.72pt\"></span></span><span class=\"ps31095\">23<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31098 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.69pt\"></span></span><span class=\"ps15336\">38<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31099 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.41pt\"></span></span><span class=\"ps4290\">93<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10268 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Co\u00fbt des services rendus</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31101 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.75pt\"></span></span><span class=\"ps28860\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31103 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.93pt\"></span></span><span class=\"ps10366\">19<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31104 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.95pt\"></span></span><span class=\"ps28445\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31105 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.51pt\"></span></span><span class=\"ps24829\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31106 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.07pt\"></span></span><span class=\"ps28704\">69<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps783 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Charge d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31107 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.45pt\"></span></span><span class=\"ps31046\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31109 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.24pt\"></span></span><span class=\"ps31108\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3828 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.69pt\"></span></span><span class=\"ps26283\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31111 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31112 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35pt\"></span></span><span class=\"ps25993\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps15666 ss1957\"><div><div class=\"ps1259 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Autres\u00a0</span><span class=\"f charStyle-ee1faa92 ps31113\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31114 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.74pt\"></span></span><span class=\"ps31151\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31116 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.51pt\"></span></span><span class=\"ps29995\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31117 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.78pt\"></span></span><span class=\"ps31152\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31118 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.44pt\"></span></span><span class=\"ps31144\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31119 ss1347\"><div><div class=\"ps1259 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ENGAGEMENTS AU </span><span class=\"f charStyle-3f403986 ps31120\">31\u00a0D\u00c9CEMBRE 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31121 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.52pt\"></span></span><span class=\"ps10531\">156<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31122 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.13pt\"></span></span><span class=\"ps26064\">587<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31124 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.15pt\"></span></span><span class=\"ps28207\">411<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31126 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.69pt\"></span></span><span class=\"ps6893\">242<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31128 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.15pt\"></span></span><span class=\"ps31070\">1\u00a0396<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31154 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.04pt\">La ligne \u00ab\u00a0Autres\u00a0\u00bb comprend principalement les \u00e9carts actuariels reconnus imm\u00e9diatement au compte de r\u00e9sultat, les effets des co\u00fbts des</span><span class=\"f charStyle-776a1ec6 ps1722\" style=\"width:1.7pt\"> </span></div><div class=\"ps31155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:130.89pt\">services pass\u00e9s et profits sur liquidation.</span></div><div class=\"ps31161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:52.79pt\">Sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31156\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps1471\" style=\"width:17.29pt\">, les </span><span class=\"f charStyle-165dec60 ps31157\" style=\"width:59.39pt\">gains actuariels</span><span class=\"f charStyle-165dec60 ps31158\" style=\"width:15.11pt\"> de </span><span class=\"f charStyle-165dec60 ps7549\" style=\"width:40.64pt\">32 millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps21636\" style=\"width:158.51pt\"> d\u2019euros r\u00e9sultaient principalement de la </span><span class=\"f charStyle-165dec60 ps31159\" style=\"width:26.38pt\">hausse</span><span class=\"f charStyle-165dec60 ps31160\" style=\"width:92.75pt\"> des taux d\u2019actualisation<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps471\" style=\"width:3.92pt\">\u00a0 <span class=\"f ps53\"> </span></span></div><div class=\"ps19842 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:200.12pt\">dans la zone euro, aux \u00c9tats-Unis et au Royaume-Uni.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.3.4<span id=\"iacdcd657af224f8f8ab818efe3b98392\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps31162\"><span style=\"display:inline-block;height:8.71pt;width:12.07pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">\u00c9volution des provisions<span class=\"f ps53\"> </span></span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:429.27pt\">Les variations des provisions, y compris les actifs sur retraites et engagements assimil\u00e9s, sur les exercices <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31163\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31164\" style=\"width:15.95pt\"> et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31165\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:125.85pt\">s\u2019expliquent de la fa\u00e7on suivante\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps31292 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:250.5pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1959\"><div><div class=\"ps30968 ss1952\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28232 ss1960\"><div><div class=\"ps4232 ss208\"><span class=\"f charStyle-ae6044e9 ps31015\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps12989 ss684\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-ae6044e9 ps10922\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss379\"><span class=\"f charStyle-ae6044e9 ps27389\">pays<span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss379\"><span class=\"f charStyle-ae6044e9 ps31166\">d\u2019Europe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps329 ss684\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-ae6044e9 ps16780\">Am\u00e9rique<span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss379\"><span class=\"f charStyle-ae6044e9 ps15645\">du Nord<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16341 ss1960\"><div><div class=\"ps4232 ss208\"><span class=\"f charStyle-ae6044e9 ps29110\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss684\"><div><div class=\"ps4232 ss379\"><span class=\"f charStyle-6bef0edd ps9863\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">PROVISIONS NETTES AU 1</span><span class=\"f charStyle-f4bb8995 ps31167\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps31168\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps1788\">JANVIER 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31169 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.52pt\"></span></span><span class=\"ps10531\">156<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31171 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.99pt\"></span></span><span class=\"ps31170\">507<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31173 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.51pt\"></span></span><span class=\"ps31172\">107<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31174 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.3pt\"></span></span><span class=\"ps15676\">83<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30909 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.34pt\"></span></span><span class=\"ps27200\">853<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-044fe383 ps10\">\u00c9carts actuariels reconnus en autres \u00e9l\u00e9ments du\u00a0r\u00e9sultat global</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31175 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31176 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.62pt\"></span></span><span class=\"ps31143\">(17)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31178 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.78pt\"></span></span><span class=\"ps31177\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31179 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.58pt\"></span></span><span class=\"ps31093\">17<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30916 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.17pt\"></span></span><span class=\"ps31081\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Utilisation de l'ann\u00e9e<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31181 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.97pt\"></span></span><span class=\"ps31180\">(16)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31183 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.24pt\"></span></span><span class=\"ps31182\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31185 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.07pt\"></span></span><span class=\"ps31184\">(10)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31186 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.79pt\"></span></span><span class=\"ps30925\">(33)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30924 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32pt\"></span></span><span class=\"ps31083\">(84)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31187 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31188 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31189 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.63pt\"></span></span><span class=\"ps30939\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31190 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.53pt\"></span></span><span class=\"ps1045\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30933 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.97pt\"></span></span><span class=\"ps29904\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31191 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31192 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31193 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31194 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.28pt\"></span></span><span class=\"ps14722\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30943 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.17pt\"></span></span><span class=\"ps31081\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10294 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Charges / (produits) de l'exercice\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31195 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.99pt\"></span></span><span class=\"ps31149\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31196 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.75pt\"></span></span><span class=\"ps26054\">33<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31198 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.41pt\"></span></span><span class=\"ps31197\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31199 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.52pt\"></span></span><span class=\"ps18274\">34<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31200 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.82pt\"></span></span><span class=\"ps16547\">70<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps19787 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Co\u00fbt des services rendus</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31201 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.75pt\"></span></span><span class=\"ps28860\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31202 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.93pt\"></span></span><span class=\"ps10366\">19<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31203 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.95pt\"></span></span><span class=\"ps28445\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31204 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.51pt\"></span></span><span class=\"ps24829\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31205 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.07pt\"></span></span><span class=\"ps28704\">69<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10037 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Charge nette d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31206 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.45pt\"></span></span><span class=\"ps31046\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31207 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.08pt\"></span></span><span class=\"ps28205\">17<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31209 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.78pt\"></span></span><span class=\"ps31208\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31210 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.44pt\"></span></span><span class=\"ps31144\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31211 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.27pt\"></span></span><span class=\"ps30937\">31<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8283 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Autres \u00e9l\u00e9ments</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31212 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.74pt\"></span></span><span class=\"ps31151\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31213 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.51pt\"></span></span><span class=\"ps29995\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31214 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.78pt\"></span></span><span class=\"ps31152\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31215 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.44pt\"></span></span><span class=\"ps31144\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31216 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22388 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">PROVISIONS NETTES AU </span><span class=\"f charStyle-3f403986 ps31217\">31\u00a0D\u00c9CEMBRE 2024</span><span class=\"f charStyle-3f403986 ps31218\"> </span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31220 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.65pt\"></span></span><span class=\"ps31219\">141<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31221 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.1pt\"></span></span><span class=\"ps11409\">494<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31222 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.65pt\"></span></span><span class=\"ps27426\">99<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31224 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.15pt\"></span></span><span class=\"ps31223\">96<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31225 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.71pt\"></span></span><span class=\"ps25437\">830<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10878 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-044fe383 ps10\">\u00c9carts actuariels reconnus en autres \u00e9l\u00e9ments du\u00a0r\u00e9sultat global</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31226 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.28pt\"></span></span><span class=\"ps14722\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31227 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.54pt\"></span></span><span class=\"ps25636\">(54)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31228 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.97pt\"></span></span><span class=\"ps29904\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31229 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.98pt\"></span></span><span class=\"ps31087\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31231 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.08pt\"></span></span><span class=\"ps31230\">(57)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31232 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Utilisation de l'ann\u00e9e<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31234 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.28pt\"></span></span><span class=\"ps31233\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31235 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.07pt\"></span></span><span class=\"ps345\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31236 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.78pt\"></span></span><span class=\"ps31177\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31238 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.6pt\"></span></span><span class=\"ps31237\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31240 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.17pt\"></span></span><span class=\"ps31239\">(88)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23978 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31241 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31242 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31243 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.78pt\"></span></span><span class=\"ps31177\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31245 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.83pt\"></span></span><span class=\"ps31244\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31246 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.24pt\"></span></span><span class=\"ps31182\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23571 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31247 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.98pt\"></span></span><span class=\"ps31087\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31248 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31249 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31250 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31251 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23908 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-044fe383 ps10\">Charges/(produits) de l'exercice\u00a0:</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31253 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.43pt\"></span></span><span class=\"ps31252\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31255 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.53pt\"></span></span><span class=\"ps31254\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31256 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.71pt\"></span></span><span class=\"ps31102\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31257 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.2pt\"></span></span><span class=\"ps3297\">25<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31259 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.85pt\"></span></span><span class=\"ps31258\">86<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22857 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Co\u00fbt des services rendus</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31260 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.48pt\"></span></span><span class=\"ps31100\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31261 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.71pt\"></span></span><span class=\"ps31102\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31262 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.95pt\"></span></span><span class=\"ps28445\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31263 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.58pt\"></span></span><span class=\"ps31093\">17<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31264 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.93pt\"></span></span><span class=\"ps10366\">61<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11205 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Charge nette d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31265 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.45pt\"></span></span><span class=\"ps31046\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31266 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.93pt\"></span></span><span class=\"ps10366\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31267 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.78pt\"></span></span><span class=\"ps31208\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31268 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.44pt\"></span></span><span class=\"ps31144\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31270 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.01pt\"></span></span><span class=\"ps31269\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22501 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-0bb91e39 ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-373e86b9 ps511\">Autres \u00e9l\u00e9ments</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31271 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.67pt\"></span></span><span class=\"ps31071\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31272 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.32pt\"></span></span><span class=\"ps31115\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31273 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.95pt\"></span></span><span class=\"ps28445\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31274 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31275 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.49pt\"></span></span><span class=\"ps10034\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22407 ss1955\"><div><div class=\"ps746 ss1952\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">PROVISIONS NETTES AU </span><span class=\"f charStyle-3f403986 ps31217\">31\u00a0D\u00c9CEMBRE 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31276 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.36pt\"></span></span><span class=\"ps29920\">138<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31278 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.78pt\"></span></span><span class=\"ps31277\">440<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31280 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.77pt\"></span></span><span class=\"ps31279\">97<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31282 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.1pt\"></span></span><span class=\"ps31281\">71<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31284 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.61pt\"></span></span><span class=\"ps31283\">746<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31285 ss1955\"><div><div class=\"ps746 ss1952\"><span class=\"f charStyle-a696f64a ps10\">Dont part \u00e0 moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31287 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.19pt\"></span></span><span class=\"ps31286\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31288 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.53pt\"></span></span><span class=\"ps31254\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31289 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.24pt\"></span></span><span class=\"ps31108\">12<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31290 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.43pt\"></span></span><span class=\"ps31252\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31291 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.37pt\"></span></span><span class=\"ps25953\">77<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps20992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:120.8pt\">Les charges nettes de l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31293\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31294\" style=\"width:259.14pt\"> relatives aux retraites et autres engagements sociaux s\u2019\u00e9tablissent \u00e0 </span><span class=\"f charStyle-165dec60 ps31295\" style=\"width:40.77pt\">86 millions</span><span class=\"f charStyle-165dec60 ps31296\" style=\"width:42.81pt\"> d\u2019euros, en</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps11387 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.38pt\">hausse</span><span class=\"f charStyle-165dec60 ps31297\" style=\"width:153.68pt\"> par rapport aux charges de l'exercice <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31298\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31299\" style=\"width:273.52pt\"> ; 71 millions d\u2019euros ont \u00e9t\u00e9 comptabilis\u00e9s en marge op\u00e9rationnelle, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31300\" style=\"width:9.18pt\">30</span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> </span></div><div class=\"ps11390 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:458.4pt\">millions d\u2019euros en Autres produits et charges financiers et un produit de 15 millions d'euros en Autres produits et charges.</span></div><div class=\"ps31302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.3.5<span id=\"ib0a6919810fd480481180cf0bac0c15f\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps31301\"><span style=\"display:inline-block;height:8.71pt;width:12.92pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">D\u00e9tail et \u00e9volution des actifs investis<span class=\"f ps53\"> </span></span></div><div class=\"ps15812 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:101.22pt\">Pour les exercices clos aux <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31303\" style=\"width:67.6pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps22207\" style=\"width:11.63pt\"> et </span><span class=\"f charStyle-165dec60 ps31304\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31305\" style=\"width:282.48pt\">, la d\u00e9composition des actifs de couverture par nature est d\u00e9taill\u00e9e dans les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:69.01pt\">tableaux suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps31306 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span class=\"f ps53\"> </span><span id=\"i96cf0340f5e24a01a9e13f7c52641325\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025<span class=\"f ps53\"> </span></span></div><div class=\"ps31364 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:39.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:54.75pt\"></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1962\"><div><div class=\"ps16333 ss1961\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31307 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps31015\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15931 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-98f46611 ps31308\">Autres pays </span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-98f46611 ps31309\">d'Europe </span><span class=\"f charStyle-d93fd2c0 ps4215\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31310 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps11418\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps28854\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31312 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-98f46611 ps14516\">Asie\u00a0</span><span class=\"f charStyle-d93fd2c0 ps31311\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4227 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss1963\"><div><div class=\"ps1259 ss1961\"><span class=\"f charStyle-a696f64a ps10\">Banque<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31314 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.11pt\"></span></span><span class=\"ps26751\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31316 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.91pt\"></span></span><span class=\"ps31315\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31318 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.44pt\"></span></span><span class=\"ps31317\">43<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31320 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.8pt\"></span></span><span class=\"ps31319\">29<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4242 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.98pt\"></span></span><span class=\"ps31321\">73<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss1963\"><div><div class=\"ps1259 ss1961\"><span class=\"f charStyle-a696f64a ps10\">Actions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31323 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.13pt\"></span></span><span class=\"ps31322\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31325 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31326 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31327 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.12pt\"></span></span><span class=\"ps9966\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31329 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.25pt\"></span></span><span class=\"ps31328\">47<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10163 ss1963\"><div><div class=\"ps1259 ss1961\"><span class=\"f charStyle-a696f64a ps10\">Obligations d'\u00c9tat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31330 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.11pt\"></span></span><span class=\"ps26751\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31331 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.41pt\"></span></span><span class=\"ps31197\">42<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31332 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.97pt\"></span></span><span class=\"ps29988\">115<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31334 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.44pt\"></span></span><span class=\"ps31333\">43<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31336 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.44pt\"></span></span><span class=\"ps31335\">200<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8549 ss1963\"><div><div class=\"ps1259 ss1961\"><span class=\"f charStyle-a696f64a ps10\">Obligations d'entreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31337 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.11pt\"></span></span><span class=\"ps26751\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31338 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.41pt\"></span></span><span class=\"ps31197\">42<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31340 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.65pt\"></span></span><span class=\"ps31339\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31341 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.8pt\"></span></span><span class=\"ps31319\">26<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31342 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.72pt\"></span></span><span class=\"ps9340\">187<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31343 ss1963\"><div><div class=\"ps1259 ss1961\"><span class=\"f charStyle-a696f64a ps10\">Immobilier<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31344 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.11pt\"></span></span><span class=\"ps26751\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31345 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31346 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31347 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.91pt\"></span></span><span class=\"ps25984\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31348 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.91pt\"></span></span><span class=\"ps31315\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss1963\"><div><div class=\"ps1259 ss1961\"><span class=\"f charStyle-a696f64a ps10\">Autres supports<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31349 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.11pt\"></span></span><span class=\"ps26751\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31351 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.36pt\"></span></span><span class=\"ps31350\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31352 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31353 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.05pt\"></span></span><span class=\"ps357\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31354 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.21pt\"></span></span><span class=\"ps28476\">11<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31355 ss1965\"><div><div class=\"ps746 ss1961\"><span class=\"f charStyle-96b05324 ps10\">D\u00c9TAIL DES ACTIFS INVESTIS AU 31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31357 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.57pt\"></span></span><span class=\"ps31356\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31358 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.62pt\"></span></span><span class=\"ps16863\">90<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31359 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.64pt\"></span></span><span class=\"ps27396\">277<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31361 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.54pt\"></span></span><span class=\"ps31360\">133<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31363 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.02pt\"></span></span><span class=\"ps31362\">518<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:11.41pt\">Au </span><span class=\"f charStyle-776a1ec6 ps31365\" style=\"width:59.83pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-776a1ec6 ps31366\" style=\"width:395.87pt\">, des plans au Japon, en Cor\u00e9e, ainsi qu'en Europe pr\u00e9sentent une position exc\u00e9dentaire, la juste valeur des actifs des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps455\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">plans \u00e9tant sup\u00e9rieure \u00e0 la valeur de l\u2019engagement. Pour les plans pour lesquels le Groupe consid\u00e8re disposer d\u2019un droit \u00e0 remboursement</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps31369 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.14pt\">inconditionnel suite \u00e0 l\u2019analyse men\u00e9e conform\u00e9ment aux dispositions d\u2019IFRIC 14, des actifs financiers non courants ont \u00e9t\u00e9 reconnus \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps449\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:176.48pt\">hauteur de la situation exc\u00e9dentaire pour un total de </span><span class=\"f charStyle-776a1ec6 ps31370\" style=\"width:7.64pt\">29</span><span class=\"f charStyle-776a1ec6 ps31371\" style=\"width:54.14pt\"> millions d\u2019euros.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"id6237459dc0d43a59264a252be4f460f\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024<span class=\"f ps53\"> </span></span></div><div class=\"ps3228 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:223.5pt\"></td><td style=\"padding:0;width:38.25pt\"></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:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1967\"><div><div class=\"ps16333 ss1966\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31374 ss1968\"><div><div class=\"ps523 ss10\"><span class=\"f charStyle-ae6044e9 ps16782\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31375 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-98f46611 ps31308\">Autres pays </span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-98f46611 ps31309\">d'Europe </span><span class=\"f charStyle-d93fd2c0 ps4215\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps11418\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps28854\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4225 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-98f46611 ps10827\">Asie\u00a0</span><span class=\"f charStyle-d93fd2c0 ps4215\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4227 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss1969\"><div><div class=\"ps1259 ss1966\"><span class=\"f charStyle-a696f64a ps10\">Banque<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31376 ss1970\"><div><div class=\"ps1259 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.61pt\"></span></span><span class=\"ps10586\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31377 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.91pt\"></span></span><span class=\"ps31315\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4239 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">63<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4241 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.44pt\"></span></span><span class=\"ps31317\">34<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4242 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.27pt\"></span></span><span class=\"ps31378\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss1969\"><div><div class=\"ps1259 ss1966\"><span class=\"f charStyle-a696f64a ps10\">Actions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31379 ss1970\"><div><div class=\"ps1259 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.17pt\"></span></span><span class=\"ps9848\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31380 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31381 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31383 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.66pt\"></span></span><span class=\"ps31382\">21<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31329 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.7pt\"></span></span><span class=\"ps31384\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10163 ss1969\"><div><div class=\"ps1259 ss1966\"><span class=\"f charStyle-a696f64a ps10\">Obligations d'\u00c9tat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31385 ss1970\"><div><div class=\"ps1259 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.61pt\"></span></span><span class=\"ps10586\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31387 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.1pt\"></span></span><span class=\"ps31386\">46<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31389 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.42pt\"></span></span><span class=\"ps31388\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31390 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.67pt\"></span></span><span class=\"ps1469\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31336 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.86pt\"></span></span><span class=\"ps27415\">222<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8549 ss1969\"><div><div class=\"ps1259 ss1966\"><span class=\"f charStyle-a696f64a ps10\">Obligations d'entreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31391 ss1970\"><div><div class=\"ps1259 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.61pt\"></span></span><span class=\"ps10586\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31392 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.7pt\"></span></span><span class=\"ps31384\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31393 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.71pt\"></span></span><span class=\"ps31102\">124<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31395 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.43pt\"></span></span><span class=\"ps31394\">30<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31342 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.4pt\"></span></span><span class=\"ps16854\">194<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31343 ss1969\"><div><div class=\"ps1259 ss1966\"><span class=\"f charStyle-a696f64a ps10\">Immobilier<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31396 ss1970\"><div><div class=\"ps1259 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.61pt\"></span></span><span class=\"ps10586\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31397 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31398 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31399 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.91pt\"></span></span><span class=\"ps31315\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31348 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.91pt\"></span></span><span class=\"ps31315\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss1969\"><div><div class=\"ps1259 ss1966\"><span class=\"f charStyle-a696f64a ps10\">Autres supports<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31400 ss1970\"><div><div class=\"ps1259 ss10\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.61pt\"></span></span><span class=\"ps10586\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31401 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.36pt\"></span></span><span class=\"ps31350\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31402 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31404 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.05pt\"></span></span><span class=\"ps31403\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31354 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.21pt\"></span></span><span class=\"ps28476\">11<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31355 ss1971\"><div><div class=\"ps746 ss1966\"><span class=\"f charStyle-96b05324 ps10\">D\u00c9TAIL DES ACTIFS INVESTIS AU 31\u00a0D\u00c9CEMBRE 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31406 ss41\"><div><div class=\"ps746 ss10\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.53pt\"></span></span><span class=\"ps31405\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31408 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.23pt\"></span></span><span class=\"ps31407\">93<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31409 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.57pt\"></span></span><span class=\"ps27406\">312<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31411 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.47pt\"></span></span><span class=\"ps31410\">146<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31363 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.34pt\"></span></span><span class=\"ps31412\">566<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps275\" style=\"width:6.51pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:10.65pt\">Au </span><span class=\"f charStyle-b70a9be1 ps31413\" style=\"width:58.63pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-b70a9be1 ps31414\" style=\"width:397.87pt\">, des plans au Japon, en Cor\u00e9e ainsi qu'en Europe pr\u00e9sentent une position exc\u00e9dentaire, la juste valeur des actifs des plans</span><span class=\"f charStyle-b70a9be1 ps460\" style=\"width:1.67pt\"> </span></div><div class=\"ps31417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:163.25pt\">\u00e9tant sup\u00e9rieure \u00e0 la valeur de l\u2019engagement. </span><span class=\"f charStyle-776a1ec6 ps31416\" style=\"width:303.83pt\">Pour les plans pour lesquels le Groupe consid\u00e8re disposer d\u2019un droit \u00e0 remboursement</span><span class=\"f charStyle-776a1ec6 ps3685\" style=\"width:1.7pt\"> </span></div><div class=\"ps31418 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.14pt\">inconditionnel suite \u00e0 l\u2019analyse men\u00e9e conform\u00e9ment aux dispositions d\u2019IFRIC 14, des actifs financiers non courants ont \u00e9t\u00e9 reconnus \u00e0</span><span class=\"f charStyle-776a1ec6 ps449\" style=\"width:1.7pt\"> </span></div><div class=\"ps31420 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:176.48pt\">hauteur de la situation exc\u00e9dentaire pour un total de </span><span class=\"f charStyle-dd3129f1 ps31370\" style=\"width:5.86pt\">31<span class=\"f ps53\"> </span></span><span class=\"f charStyle-dd3129f1 ps31419\" style=\"width:52.88pt\"> millions d\u2019euros.</span></div><div class=\"ps21947 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:228.21pt\">Ces actifs sont g\u00e9r\u00e9s par des soci\u00e9t\u00e9s de gestion sp\u00e9cialis\u00e9es.<span class=\"f ps53\"> </span></span></div><div class=\"ps6364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.22pt\">Dans le cadre de la gestion du risque li\u00e9 \u00e0 ce portefeuille d\u2019actifs,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps4806\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:229.27pt\">les d\u00e9cisions d\u2019allocation des fonds entre les diff\u00e9rentes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps19267 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">classes d\u2019actifs (actions, obligations, disponibilit\u00e9s ou autres</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps19268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">supports) sont prises par des comit\u00e9s d\u2019investissements ou</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps19271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:19.63pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31421\" style=\"width:30.5pt\">trustees</span><span class=\"f charStyle-165dec60 ps11388\" style=\"width:179.15pt\"> sp\u00e9cifiques \u00e0 chaque pays concern\u00e9, sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps21947 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">proposition de conseils externes en fonction des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps21948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">perspectives de march\u00e9 et des caract\u00e9ristiques des</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps21949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">engagements de retraites. La revue de la pertinence de ces</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps31422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">placements et de leurs performances fait l\u2019objet d\u2019un suivi</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps31423 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:122.32pt\">r\u00e9gulier par ces m\u00eames comit\u00e9s.</span></div><div class=\"ps31427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:242.35pt\">L\u2019\u00e9volution de la valeur des actifs de couverture sur les exercices </span><span class=\"f charStyle-165dec60 ps31424\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps21418\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps31425\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31426\" style=\"width:130.26pt\"> s\u2019explique de la mani\u00e8re suivante\u00a0:</span></div><div class=\"ps31428 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"ife0d8aa58eee4c49a9e39a5f8251ea4f\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025<span class=\"f ps53\"> </span></span></div><div class=\"ps31464 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1972\"><div><div class=\"ps16333 ss1922\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29887 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps31429\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31375 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps31308\">Autres pays <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps3755\">d'Europe</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps11418\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps28854\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4225 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps25328\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4227 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss1973\"><div><div class=\"ps1259 ss1922\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ACTIFS INVESTIS AU 1</span><span class=\"f charStyle-f4bb8995 ps8275\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps31430\"> </span><span class=\"f charStyle-3f403986 ps31431\">JANVIER 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31433 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.29pt\"></span></span><span class=\"ps31432\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31377 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.48pt\"></span></span><span class=\"ps31434\">93<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4239 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.89pt\"></span></span><span class=\"ps31435\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4241 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.82pt\"></span></span><span class=\"ps5847\">146<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4242 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.69pt\"></span></span><span class=\"ps3138\">566<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss1973\"><div><div class=\"ps1259 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Rendement attendu des fonds<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31437 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.99pt\"></span></span><span class=\"ps31436\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31380 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.74pt\"></span></span><span class=\"ps31438\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31381 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.04pt\"></span></span><span class=\"ps28479\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31383 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.74pt\"></span></span><span class=\"ps31438\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31329 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.49pt\"></span></span><span class=\"ps31439\">24<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10163 ss1973\"><div><div class=\"ps1259 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Contributions vers\u00e9es aux fonds externes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31441 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.47pt\"></span></span><span class=\"ps31440\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31387 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.99pt\"></span></span><span class=\"ps31436\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31389 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31390 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.04pt\"></span></span><span class=\"ps28479\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31336 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.21pt\"></span></span><span class=\"ps31443\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8549 ss1973\"><div><div class=\"ps1259 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Prestations vers\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31444 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31392 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.28pt\"></span></span><span class=\"ps31445\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31393 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.74pt\"></span></span><span class=\"ps31446\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31395 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.83pt\"></span></span><span class=\"ps26249\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31342 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.32pt\"></span></span><span class=\"ps25848\">(40)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31343 ss1973\"><div><div class=\"ps1259 ss1922\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts actuariels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31447 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31397 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31398 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.74pt\"></span></span><span class=\"ps31448\">12<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31399 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.28pt\"></span></span><span class=\"ps31445\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31348 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.28pt\"></span></span><span class=\"ps31449\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss1973\"><div><div class=\"ps1259 ss1922\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31450 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31401 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.28pt\"></span></span><span class=\"ps31445\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31402 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.45pt\"></span></span><span class=\"ps31451\">(36)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31404 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.29pt\"></span></span><span class=\"ps31452\">(15)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31354 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.75pt\"></span></span><span class=\"ps26242\">(55)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31355 ss1973\"><div><div class=\"ps1259 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31453 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31408 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31409 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31411 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31363 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps23390 ss1973\"><div><div class=\"ps1259 ss1922\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ACTIFS INVESTIS AU </span><span class=\"f charStyle-3f403986 ps31454\">31\u00a0D\u00c9CEMBRE 2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps31456 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.8pt\"></span></span><span class=\"ps31455\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps31458 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.83pt\"></span></span><span class=\"ps31457\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps31459 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.97pt\"></span></span><span class=\"ps25770\">277<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps31461 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.87pt\"></span></span><span class=\"ps31460\">133<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps31463 ss1964\"><div><div class=\"ps1259 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.34pt\"></span></span><span class=\"ps31462\">518<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps7668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:10.87pt\">La </span><span class=\"f charStyle-165dec60 ps31465\" style=\"width:23.36pt\">baisse</span><span class=\"f charStyle-165dec60 ps17824\" style=\"width:185.36pt\"> de la juste valeur des actifs investis sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31466\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31467\" style=\"width:243.95pt\"> s\u2019explique notamment par des effets de change d\u00e9favorables en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:82.78pt\">Asie et aux \u00c9tats-Unis.</span></div><div class=\"ps31471 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:241.31pt\">Les contributions vers\u00e9es aux fonds externes se sont \u00e9lev\u00e9es \u00e0 </span><span class=\"f charStyle-165dec60 ps31468\" style=\"width:39.53pt\">18 millions</span><span class=\"f charStyle-165dec60 ps31469\" style=\"width:83.16pt\"> d\u2019euros pour l\u2019ann\u00e9e <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps10488\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31470\" style=\"width:99.46pt\">, sup\u00e9rieures de 5 millions</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps31474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:338.22pt\">d\u2019euros par rapport aux estimations\u00a0; elles sont estim\u00e9es \u00e0 10 millions d\u2019euros pour l\u2019ann\u00e9e </span><span class=\"f charStyle-165dec60 ps31472\" style=\"width:18.02pt\">2026</span><span class=\"f charStyle-165dec60 ps31473\" style=\"width:1.59pt\">.</span></div><div class=\"ps31475 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"ib32600e256174ff596c28d380f2a6c53\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps31518 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1972\"><div><div class=\"ps16333 ss1922\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29887 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps31429\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31375 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps31308\">Autres pays <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps3755\">d'Europe</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps11418\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps28854\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4225 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps25328\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4227 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss1923\"><div><div class=\"ps746 ss1922\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ACTIFS INVESTIS AU 1</span><span class=\"f charStyle-f4bb8995 ps8275\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps31430\">\u00a0</span><span class=\"f charStyle-3f403986 ps31431\">JANVIER 2024</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31433 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.8pt\"></span></span><span class=\"ps31455\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31377 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.27pt\"></span></span><span class=\"ps31378\">97<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4239 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.39pt\"></span></span><span class=\"ps31043\">309<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4241 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.52pt\"></span></span><span class=\"ps28745\">165<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4242 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.51pt\"></span></span><span class=\"ps30994\">589<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps749 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Rendement attendu des fonds<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31476 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31477 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.74pt\"></span></span><span class=\"ps31438\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31479 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.75pt\"></span></span><span class=\"ps31478\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31480 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.74pt\"></span></span><span class=\"ps31438\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31482 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.22pt\"></span></span><span class=\"ps31481\">23<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Contributions vers\u00e9es aux fonds externes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31483 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.74pt\"></span></span><span class=\"ps31438\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31484 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31485 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31486 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.74pt\"></span></span><span class=\"ps31448\">12<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31487 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Prestations vers\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31489 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.45pt\"></span></span><span class=\"ps31488\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31491 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.99pt\"></span></span><span class=\"ps31490\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31492 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.42pt\"></span></span><span class=\"ps31388\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31494 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.57pt\"></span></span><span class=\"ps31493\">(10)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31495 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.72pt\"></span></span><span class=\"ps9340\">(49)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts actuariels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31496 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.99pt\"></span></span><span class=\"ps31436\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31498 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.82pt\"></span></span><span class=\"ps31497\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31499 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.99pt\"></span></span><span class=\"ps31490\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31500 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.29pt\"></span></span><span class=\"ps31452\">(15)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31501 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.42pt\"></span></span><span class=\"ps31388\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31502 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31503 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.74pt\"></span></span><span class=\"ps31438\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31504 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">19<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31505 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.82pt\"></span></span><span class=\"ps31497\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31506 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31507 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31508 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31509 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31511 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.01pt\"></span></span><span class=\"ps31510\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31512 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.01pt\"></span></span><span class=\"ps31510\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss1923\"><div><div class=\"ps746 ss1922\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ACTIFS INVESTIS AU </span><span class=\"f charStyle-3f403986 ps31454\">31\u00a0D\u00c9CEMBRE 2024</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31513 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.29pt\"></span></span><span class=\"ps31432\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31514 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.48pt\"></span></span><span class=\"ps31434\">93<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31515 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.89pt\"></span></span><span class=\"ps31435\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31516 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.82pt\"></span></span><span class=\"ps5847\">146<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31517 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.69pt\"></span></span><span class=\"ps3138\">566<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:219.7pt\">La baisse de la juste valeur des actifs investis sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps20703\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31519\" style=\"width:51.56pt\"> s'expliquait n</span><span class=\"f charStyle-165dec60 ps31520\" style=\"width:191.48pt\">otamment par deux plans pour lesquels la position</span><span class=\"f charStyle-165dec60 ps8343\" style=\"width:1.96pt\"> </span></div><div class=\"ps31522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:364.54pt\">exc\u00e9dentaire n\u2019a pas \u00e9t\u00e9 reconnue au 31 d\u00e9cembre 2024 en application des disposition d\u2019IFRIC 14.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.3.6<span id=\"iaa432aff265b47aeb7a30621f89747d6\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps13219\"><span style=\"display:inline-block;height:8.71pt;width:12.54pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Historique<span class=\"f ps53\"> </span></span></div><div class=\"ps29451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:424.82pt\">L\u2019historique de l\u2019engagement, des actifs financiers ainsi que des pertes et gains actuariels se d\u00e9cline comme suit\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps31545 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:15pt\"><td style=\"background-color:#FFFFFF;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1923\"><div><div class=\"ps10243 ss1922\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29887 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps20863\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31375 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps11110\">2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps9872\">2023<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4225 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps20836\">2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4227 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps9722\">2021<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#FFFFFF;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Engagements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29892 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.27pt\"></span></span><span class=\"ps31523\">1\u00a0264<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31524 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">1\u00a0396<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31526 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.88pt\"></span></span><span class=\"ps31525\">1\u00a0442<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31527 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.01pt\"></span></span><span class=\"ps1960\">1\u00a0359<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27204 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.04pt\"></span></span><span class=\"ps31528\">1\u00a0802<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#FFFFFF;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">Actifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29899 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.51pt\"></span></span><span class=\"ps30994\">(518)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31529 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.87pt\"></span></span><span class=\"ps31030\">(566)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31530 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">(589)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31532 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.26pt\"></span></span><span class=\"ps31531\">(584)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27212 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.02pt\"></span></span><span class=\"ps31533\">(759)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#FFFFFF;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-3f403986 ps10\">ENGAGEMENTS NETS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29906 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.11pt\"></span></span><span class=\"ps17724\">746<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31534 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.21pt\"></span></span><span class=\"ps18553\">830<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31536 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.84pt\"></span></span><span class=\"ps31535\">853<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31538 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.93pt\"></span></span><span class=\"ps31537\">775<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27222 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.94pt\"></span></span><span class=\"ps4278\">1\u00a0043<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1925\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">(Pertes) et gains actuariels reconnus </span></div><div class=\"ps748 ss1922\"><span class=\"f charStyle-044fe383 ps10\">en\u00a0autres\u00a0\u00e9l\u00e9ments\u00a0du\u00a0r\u00e9sultat global<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29914 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.04pt\"></span></span><span class=\"ps31539\">57<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31541 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.13pt\"></span></span><span class=\"ps31540\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31543 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.26pt\"></span></span><span class=\"ps31542\">(76)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31544 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.93pt\"></span></span><span class=\"ps31537\">249<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27234 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.58pt\"></span></span><span class=\"ps18152\">71<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.28pt\">Les gains actuariels reconnus en autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps31549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:20.44pt\">globa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8366\" style=\"width:15.53pt\">l en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31547\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31548\" style=\"width:117.75pt\"> comprennent principalement\u00a0:</span></div><div class=\"ps31550 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">79 millions d\u2019euros de gains actuariels d\u2019hypoth\u00e8ses</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps31551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">financi\u00e8res essentiellement li\u00e9es \u00e0 la hausse des taux</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps31552 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">d\u2019actualisation notamment dans la zone euro et au Japon<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.23pt\">se composant de 65\u00a0millions d\u2019euros de gains actuariels</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30703 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.23pt\">d\u2019hypoth\u00e8ses sur les engagements et 13\u00a0millions d\u2019euros de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps31546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:65.46pt\">gains actuariels</span><span class=\"f charStyle-165dec60 ps31553\" style=\"width:156.73pt\"> sur le rendement des actifs de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps31549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:52pt\">financement\u00a0;</span></div><div class=\"ps31550 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:203.63pt\">12 millions d'euros de pertes actuarielles d'exp\u00e9rience\u00a0;</span></div><div class=\"ps2499 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">11 millions d\u2019euros de pertes actuarielles li\u00e9es \u00e0 la position</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:4.53pt\">e</span><span class=\"f charStyle-5064d44f ps31554\" style=\"width:217.68pt\">xc\u00e9dentaire de deux plans non reconnue au 31 d\u00e9cembre</span><span class=\"f charStyle-5064d44f ps449\" style=\"width:1.89pt\"> </span></div><div class=\"ps2501 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps930\" style=\"width:17.42pt\">2025</span><span class=\"f charStyle-165dec60 ps31555\" style=\"width:157.35pt\"> en application des dispositions d\u2019IFRIC 14.</span></div><div class=\"ps31557 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.3.7<span id=\"i30847e9611a74f58b125bc78eeffec33\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps31556\"><span style=\"display:inline-block;height:8.71pt;width:12.69pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Sensibilit\u00e9 des engagements<span class=\"f ps53\"> </span></span></div><div class=\"ps31558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:481.24pt\">L\u2019\u00e9volution des engagements est sensiblement influenc\u00e9e par les taux d\u2019actualisation ou les taux d\u2019inflation retenus par zone<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps8438\" style=\"width:1.82pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31560 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:52.04pt\">g\u00e9ographique<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31559\" style=\"width:46.93pt\"> ou par pays.<span class=\"f ps53\"> </span></span></div><div class=\"ps13993 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:344.8pt\">Ainsi, l\u2019incidence d\u2019une variation de 1 point de ces taux sur la valeur de l\u2019engagement au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31561\" style=\"width:69.38pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31562\" style=\"width:67.05pt\"> est pr\u00e9sent\u00e9e ci-<span class=\"f ps53\"> </span></span></div><div class=\"ps13994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:24.24pt\">apr\u00e8s\u00a0:</span></div><div class=\"ps14720 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1972\"><div><div class=\"ps16333 ss1922\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29887 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps31429\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31375 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps31308\">Autres pays <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps3755\">d'Europe</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps11418\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps28854\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4225 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps25328\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4227 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-3f403986 ps10\">TAUX D\u2019ACTUALISATION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps749 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une hausse de 1 pt</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31476 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.5pt\"></span></span><span class=\"ps28450\">(12)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31477 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.19pt\"></span></span><span class=\"ps25817\">(61)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31479 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.64pt\"></span></span><span class=\"ps28709\">(29)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31480 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.34pt\"></span></span><span class=\"ps31563\">(17)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31482 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.49pt\"></span></span><span class=\"ps31564\">(119)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une baisse de 1 pt</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31483 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.99pt\"></span></span><span class=\"ps31490\">13<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31484 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.79pt\"></span></span><span class=\"ps31565\">69<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31485 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.44pt\"></span></span><span class=\"ps28650\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31486 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">18<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31487 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.29pt\"></span></span><span class=\"ps31452\">131<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-3f403986 ps10\">TAUX D\u2019INFLATION SALARIALE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10445 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une hausse de 1 pt</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31496 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.96pt\"></span></span><span class=\"ps31566\">12<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31498 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.21pt\"></span></span><span class=\"ps31567\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31499 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.69pt\"></span></span><span class=\"ps31568\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31500 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.25pt\"></span></span><span class=\"ps31569\">10<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31501 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.1pt\"></span></span><span class=\"ps28670\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une baisse de 1 pt</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31502 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.05pt\"></span></span><span class=\"ps10778\">(11)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31503 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.75pt\"></span></span><span class=\"ps31570\">(1)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31504 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.23pt\"></span></span><span class=\"ps31571\">(3)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31505 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.89pt\"></span></span><span class=\"ps18789\">(9)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31506 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.25pt\"></span></span><span class=\"ps11136\">(24)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31572 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Le taux d\u2019inflation salariale a une plus faible incidence que</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps31573 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">le\u00a0taux d\u2019actualisation sur la valeur des engagements au</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31575 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81f42323 ps31574\" style=\"width:161.36pt\">, notamment aux \u00c9tats-Unis et au Royaume-</span></div><div class=\"ps31577 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:13.89pt\">Uni.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31576\" style=\"width:215.42pt\"> Ceci s\u2019explique par l\u2019existence de plans qui sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps18243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">aujourd\u2019hui ferm\u00e9s et pour lesquels il ne subsiste que des</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps18245 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.89pt\">engagements pour d\u2019anciens salari\u00e9s du Groupe.</span></div><div class=\"ps31572 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:186.32pt\">La sensibilit\u00e9 du co\u00fbt des services rendus en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8244\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31578\" style=\"width:25.29pt\"> \u00e0 ces</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps31573 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">variations de taux est limit\u00e9e. La baisse de 1 point du taux</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps31575 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">d\u2019actualisation aurait g\u00e9n\u00e9r\u00e9 une charge suppl\u00e9mentaire de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps31577 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">5\u00a0millions d\u2019euros et une r\u00e9duction de la charge de 4 millions</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.55pt\">d\u2019euros, dans le cas inverse.</span></div><div class=\"ps31579 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.3.8<span id=\"i2e53f32f327c4d34af0bbac63c49b0b6\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps18786\"><span style=\"display:inline-block;height:8.71pt;width:12.33pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Prestations \u00e0 verser lors des 10 prochaines ann\u00e9es<span class=\"f ps53\"> </span></span></div><div class=\"ps17364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Les prestations qui devront \u00eatre vers\u00e9es par le Groupe dans les 10 prochaines ann\u00e9es au titre des plans de retraites et assimil\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:102.91pt\">sont estim\u00e9es comme suit\u00a0:</span></div><div class=\"ps31591 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1972\"><div><div class=\"ps16333 ss1922\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps29887 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps31429\">France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31375 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps31308\">Autres pays <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps3755\">d'Europe</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss361\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps11418\">Am\u00e9rique <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps28854\">du\u00a0Nord</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4225 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-ae6044e9 ps25328\">Asie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4227 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">2026<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31433 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.83pt\"></span></span><span class=\"ps31580\">8<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31377 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.11pt\"></span></span><span class=\"ps28598\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4239 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.21pt\"></span></span><span class=\"ps28476\">11<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4241 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4242 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.1pt\"></span></span><span class=\"ps31386\">46<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps749 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31476 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.37pt\"></span></span><span class=\"ps28852\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31477 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.11pt\"></span></span><span class=\"ps28598\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31479 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.66pt\"></span></span><span class=\"ps31382\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31480 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.2pt\"></span></span><span class=\"ps10347\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31482 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.71pt\"></span></span><span class=\"ps31581\">44<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31483 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.2pt\"></span></span><span class=\"ps10347\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31484 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.14pt\"></span></span><span class=\"ps31582\">23<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31485 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.66pt\"></span></span><span class=\"ps31382\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31486 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.05pt\"></span></span><span class=\"ps31403\">6<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31487 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.88pt\"></span></span><span class=\"ps31583\">48<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31489 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.83pt\"></span></span><span class=\"ps31580\">8<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31491 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.12pt\"></span></span><span class=\"ps25882\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31492 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.66pt\"></span></span><span class=\"ps31382\">12<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31494 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31495 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.1pt\"></span></span><span class=\"ps31386\">49<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-a696f64a ps10\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31496 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.95pt\"></span></span><span class=\"ps31584\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31498 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.8pt\"></span></span><span class=\"ps25704\">26<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31499 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.69pt\"></span></span><span class=\"ps12739\">13<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31500 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31501 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.12pt\"></span></span><span class=\"ps25882\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss1923\"><div><div class=\"ps746 ss1922\" style=\"font-size:12pt\"><span class=\"f charStyle-165dec60 ps10\">2031</span><span class=\"f charStyle-044fe383 ps31585\">/</span><span class=\"f charStyle-165dec60 ps31586\">2035</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31502 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">63<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31503 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.74pt\"></span></span><span class=\"ps28735\">134<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31504 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.81pt\"></span></span><span class=\"ps31587\">65<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31505 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.95pt\"></span></span><span class=\"ps28445\">27<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31506 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.8pt\"></span></span><span class=\"ps9377\">288<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps23894 ss1923\"><div><div class=\"ps746 ss1922\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31507 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.32pt\"></span></span><span class=\"ps25869\">100<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31508 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.54pt\"></span></span><span class=\"ps31588\">251<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31509 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.54pt\"></span></span><span class=\"ps31588\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31511 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.57pt\"></span></span><span class=\"ps31589\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31512 ss375\"><div><div class=\"ps746 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.83pt\"></span></span><span class=\"ps31590\">527<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-485": {
   "value": "<div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">6.1<span id=\"if935ff16e5a847868d47ee7b1e5d3dae\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps27752\"><span style=\"display:inline-block;height:10.16pt;width:28.98pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Effectifs<span class=\"f ps53\"> </span></span></div><div class=\"ps29595 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:280.35pt\">Les effectifs du Groupe, incluant les effectifs int\u00e9rimaires, sont les suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps30807 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Effectifs totaux au 31 d\u00e9cembre <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.07pt\"></span></span><span class=\"ps30803\">100\u00a0216<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.36pt\"></span></span><span class=\"ps30804\">106\u00a0100<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Effectifs moyens sur l'exercice<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.44pt\"></span></span><span class=\"ps30805\">103\u00a0372<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.77pt\"></span></span><span class=\"ps30806\">109\u00a0957<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-486": {
   "value": "<div class=\"ps4890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les avantages du personnel sont \u00e9valu\u00e9s conform\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">\u00e0 la norme IAS\u00a019. Ils se d\u00e9composent entre avantages \u00e0</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">court terme, avantages \u00e0 long terme et indemnit\u00e9s de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:71.73pt\">cessation d'emploi.</span></div><div class=\"ps9151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:217.98pt\">Les salari\u00e9s du Groupe b\u00e9n\u00e9ficient d\u2019avantages \u00e0 court</span><span class=\"f charStyle-9c680f66 ps431\" style=\"width:1.93pt\"> </span></div><div class=\"ps9153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps6588\" style=\"width:22.9pt\">terme</span><span class=\"f charStyle-165dec60 ps19662\" style=\"width:195.09pt\"> tels que les cong\u00e9s pay\u00e9s, cong\u00e9s maladie, primes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:40.22pt\">et autres </span><span class=\"f charStyle-8de4ecd0 ps12407\" style=\"width:177.72pt\">avantages (autres que les indemnit\u00e9s de fin de</span><span class=\"f charStyle-8de4ecd0 ps610\" style=\"width:1.63pt\"> </span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8de4ecd0 ps6588\" style=\"width:60.78pt\">contrat) payables<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5e2d7321 ps30812\" style=\"width:7.52pt\"> d</span><span class=\"f charStyle-165dec60 ps30813\" style=\"width:149.68pt\">ans les douze mois suivant la fin de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">p\u00e9riode pendant laquelle les salari\u00e9s ont rendu les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:92.45pt\">services correspondants.</span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.94pt\">Ces avantages sont comptabilis\u00e9s dans les dettes</span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:33.54pt\">courante<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30814\" style=\"width:184.39pt\">s et enregistr\u00e9s en charges sur l\u2019exercice lorsque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:122.94pt\">le service est rendu par le salari\u00e9.</span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:217.94pt\">Les avantages \u00e0 long terme couvrent deux cat\u00e9gories</span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:42.34pt\">d\u2019avantages</span><span class=\"f charStyle-165dec60 ps4205\" style=\"width:54.58pt\"> au personnel\u00a0:</span></div><div class=\"ps12299 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.3pt\">les avantages post\u00e9rieurs \u00e0 l\u2019emploi qui incluent</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:44.15pt\">notamment</span><span class=\"f charStyle-165dec60 ps30817\" style=\"width:168.12pt\"> les indemnit\u00e9s de d\u00e9part \u00e0 la retraite, les</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">compl\u00e9ments de retraite ainsi que la couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:210.76pt\">certains frais m\u00e9dicaux pour les retrait\u00e9s et pr\u00e9retrait\u00e9s\u00a0;</span></div><div class=\"ps30818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">les autres avantages \u00e0 long terme (pendant l\u2019emploi) qui</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps30819 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:190.08pt\">recouvrent principalement les m\u00e9dailles du travail.</span></div><div class=\"ps4890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps448\" style=\"width:217.94pt\">Les diff\u00e9rents avantages offerts \u00e0 chaque employ\u00e9</span><span class=\"f charStyle-b5684510 ps16283\" style=\"width:1.8pt\"> </span></div><div class=\"ps4891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps448\" style=\"width:40.57pt\">d\u00e9pendent</span><span class=\"f charStyle-165dec60 ps30820\" style=\"width:177.38pt\"> des l\u00e9gislations locales, conventions ou</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:194.56pt\">accords en vigueur dans chaque soci\u00e9t\u00e9 du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps8200 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:188.42pt\">Ces avantages se caract\u00e9risent de deux mani\u00e8res\u00a0:</span></div><div class=\"ps8201 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps26704\" style=\"width:212.26pt\">les r\u00e9gimes dits \u00e0 cotisations d\u00e9finies qui ne sont pas</span><span class=\"f charStyle-42e3db84 ps16299\" style=\"width:1.82pt\"> </span></div><div class=\"ps8117 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps26704\" style=\"width:35.78pt\">porteurs </span><span class=\"f charStyle-165dec60 ps30821\" style=\"width:176.51pt\">d\u2019engagement futur puisque l\u2019obligation de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps8202 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">l\u2019employeur est limit\u00e9e au versement r\u00e9gulier de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">cotisations\u00a0; ils sont enregistr\u00e9s en charge sur la base</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:88.77pt\">des appels \u00e0 cotisation\u00a0;</span></div><div class=\"ps30822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.26pt\">les r\u00e9gimes dits \u00e0 prestations d\u00e9finies par lesquels<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16299\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:42.52pt\">l\u2019employeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30823\" style=\"width:169.78pt\"> garantit un niveau futur de prestations. Une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:59.96pt\">obligation (cf.\u00a0</span><span class=\"f charStyle-165dec60 ps30825\" style=\"width:34.22pt\">Note 6.3</span><span class=\"f charStyle-165dec60 ps30826\" style=\"width:118.07pt\">, pages 406 \u00e0 411) est alors</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">comptabilis\u00e9e au passif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:38.99pt\">financi\u00e8re.</span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:79.08pt\">Comme indiqu\u00e9 en </span><span class=\"f charStyle-165dec60 ps30841\" style=\"width:32.14pt\">Note 6.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps12323\" style=\"width:106.76pt\">, page 405, les avantages \u00e0</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">long terme pour les plans \u00e0 prestations d\u00e9finies cr\u00e9ent<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">une obligation comptabilis\u00e9e en provision pour retraites<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:100.05pt\">et engagements assimil\u00e9s.<span class=\"f ps53\"> </span></span></div><div class=\"ps2106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">La provision pour retraites est \u00e9gale \u00e0 la valeur actualis\u00e9e</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.93pt\">des obligations diminu\u00e9e, le cas \u00e9ch\u00e9ant, de la juste</span><span class=\"f charStyle-b2f078f6 ps415\" style=\"width:1.83pt\"> </span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:26.39pt\">valeur\u00a0</span><span class=\"f charStyle-165dec60 ps30842\" style=\"width:191.55pt\">des actifs vers\u00e9s dans des fonds affect\u00e9s \u00e0 leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">financement. Un exc\u00e9dent d\u2019actif n\u2019est comptabilis\u00e9 que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.94pt\">dans la mesure o\u00f9 il repr\u00e9sente des avantages<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:50.72pt\">\u00e9conomiques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30843\" style=\"width:167.25pt\"> futurs qui sont effectivement disponibles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:58.01pt\">pour le Groupe.</span></div><div class=\"ps2113 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">La provision pour les autres avantages \u00e0 long terme est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">quant \u00e0 elle \u00e9gale \u00e0 la valeur actualis\u00e9e des obligations.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les co\u00fbts attendus de ces avantages sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">en charges de personnel tout au long de la p\u00e9riode</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:137.88pt\">d\u2019activit\u00e9 du salari\u00e9 dans l\u2019entreprise.</span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:217.96pt\">La d\u00e9termination de ces provisions repose sur des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps608\" style=\"width:1.76pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:40.76pt\">\u00e9valuations</span><span class=\"f charStyle-165dec60 ps30844\" style=\"width:5.63pt\"> </span><span class=\"f charStyle-5064d44f ps30845\" style=\"width:171.56pt\">effectu\u00e9es par des actuaires ind\u00e9pendants</span><span class=\"f charStyle-5064d44f ps425\" style=\"width:1.89pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:70.1pt\">selon la m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30846\" style=\"width:10.04pt\"> d</span><span class=\"f charStyle-5064d44f ps30847\" style=\"width:137.8pt\">es unit\u00e9s de cr\u00e9dit projet\u00e9es avec</span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:97.48pt\">salaire de fin de carri\u00e8re. </span><span class=\"f charStyle-165dec60 ps30848\" style=\"width:120.5pt\">Ces \u00e9valuations int\u00e8grent aussi</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps8856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bien des hypoth\u00e8ses macro\u00e9conomiques propres \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps8857 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">chaque pays dans lesquels le Groupe op\u00e8re (taux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps8858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019actualisation, croissance des salaires, \u00e9volution des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps8859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9penses de sant\u00e9) que d\u00e9mographiques (taux de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">rotation des effectifs, \u00e2ge de d\u00e9part en retraite, esp\u00e9rance</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:26.22pt\">de vie).</span></div><div class=\"ps8863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s par r\u00e9f\u00e9rence</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">aux rendements procur\u00e9s par les obligations \u00e9mises par</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:15.74pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps30849\" style=\"width:202.2pt\">entreprises de premi\u00e8re cat\u00e9gorie (not\u00e9es AA) sur des</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:21.88pt\">dur\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30850\" style=\"width:7.29pt\">s </span><span class=\"f charStyle-c709af45 ps30851\" style=\"width:188.79pt\">\u00e9quivalentes \u00e0 celles des engagements \u00e0 la date</span><span class=\"f charStyle-c709af45 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:44.89pt\">d\u2019\u00e9valuation</span><span class=\"f charStyle-165dec60 ps30852\" style=\"width:173.08pt\">. Dans les pays o\u00f9 le march\u00e9 des obligations</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.49pt\">d\u2019entreprises de </span><span class=\"f charStyle-4300c10f ps30853\" style=\"width:153.48pt\">haute qualit\u00e9 est insuffisamment profond,</span><span class=\"f charStyle-4300c10f ps16278\" style=\"width:1.73pt\"> </span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4300c10f ps448\" style=\"width:83.41pt\">les taux d\u2019actualisation</span><span class=\"f charStyle-165dec60 ps30854\" style=\"width:134.58pt\"> sont mesur\u00e9s en r\u00e9f\u00e9rence \u00e0 des</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:90.16pt\">taux gouvernementaux.</span></div><div class=\"ps2107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Des \u00e9carts actuariels sont g\u00e9n\u00e9r\u00e9s lorsque des diff\u00e9rences</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont constat\u00e9es entre les donn\u00e9es r\u00e9elles et les pr\u00e9visions</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">effectu\u00e9es ant\u00e9rieurement, ou suite \u00e0 des changements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u2019hypoth\u00e8ses actuarielles. Dans le cas d\u2019avantages \u00e0 long</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">terme pendant l\u2019emploi, les \u00e9carts actuariels sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">reconnus imm\u00e9diatement en r\u00e9sultat. En revanche, en ce</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">qui concerne les avantages post\u00e9rieurs \u00e0 l\u2019emploi, les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.51pt\">\u00e9carts a</span><span class=\"f charStyle-9206869b ps30855\" style=\"width:188.46pt\">ctuariels g\u00e9n\u00e9r\u00e9s sont comptabilis\u00e9s dans l\u2019\u00e9tat du</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:30.16pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps30856\" style=\"width:109.71pt\">global, nets d\u2019imp\u00f4ts diff\u00e9r\u00e9s.</span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les co\u00fbts des services pass\u00e9s, r\u00e9sultant de l\u2019adoption d\u2019un<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">nouveau r\u00e9gime, de la modification d\u2019un r\u00e9gime existant</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00e0 prestations d\u00e9finies, sont imm\u00e9diatement</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:96.22pt\">comptabilis\u00e9s en r\u00e9sultat.</span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La charge comptabilis\u00e9e au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.18pt\">comprend\u00a0:</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">les co\u00fbts des services rendus au cours de l\u2019exercice, le</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">co\u00fbt des services pass\u00e9s, les \u00e9carts actuariels sur les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:42.15pt\">avantages </span><span class=\"f charStyle-d77d7991 ps30857\" style=\"width:170.14pt\">\u00e0 long terme pendant l'emploi ainsi que les</span><span class=\"f charStyle-d77d7991 ps16295\" style=\"width:1.91pt\"> </span></div><div class=\"ps30858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps26704\" style=\"width:61.52pt\">\u00e9ventuels effets</span><span class=\"f charStyle-165dec60 ps4863\" style=\"width:150.78pt\"> de toute r\u00e9duction, modification ou</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps8860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:84.7pt\">liquidation de r\u00e9gime\u00a0;</span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps26704\" style=\"width:212.3pt\">la charge nette d\u2019int\u00e9r\u00eats comptabilis\u00e9e en r\u00e9sultat</span><span class=\"f charStyle-c709af45 ps29668\" style=\"width:1.87pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps26704\" style=\"width:32.06pt\">financier<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30860\" style=\"width:2.16pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-858f3e4c ps30861\" style=\"width:178.05pt\">sur les obligations (effet de d\u00e9sactualisation) et le</span><span class=\"f charStyle-858f3e4c ps16283\" style=\"width:1.81pt\"> </span></div><span class=\"f charStyle-858f3e4c ps26704\" style=\"width:41.45pt\">rendement</span> attendu sur les actifs de couverture.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-487": {
   "value": "<div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:79.08pt\">Comme indiqu\u00e9 en </span><span class=\"f charStyle-165dec60 ps30841\" style=\"width:32.14pt\">Note 6.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps12323\" style=\"width:106.76pt\">, page 405, les avantages \u00e0</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">long terme pour les plans \u00e0 prestations d\u00e9finies cr\u00e9ent<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">une obligation comptabilis\u00e9e en provision pour retraites<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:100.05pt\">et engagements assimil\u00e9s.<span class=\"f ps53\"> </span></span></div><div class=\"ps2106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">La provision pour retraites est \u00e9gale \u00e0 la valeur actualis\u00e9e</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:217.93pt\">des obligations diminu\u00e9e, le cas \u00e9ch\u00e9ant, de la juste</span><span class=\"f charStyle-b2f078f6 ps415\" style=\"width:1.83pt\"> </span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:26.39pt\">valeur\u00a0</span><span class=\"f charStyle-165dec60 ps30842\" style=\"width:191.55pt\">des actifs vers\u00e9s dans des fonds affect\u00e9s \u00e0 leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">financement. Un exc\u00e9dent d\u2019actif n\u2019est comptabilis\u00e9 que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:217.94pt\">dans la mesure o\u00f9 il repr\u00e9sente des avantages<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:50.72pt\">\u00e9conomiques<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30843\" style=\"width:167.25pt\"> futurs qui sont effectivement disponibles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:58.01pt\">pour le Groupe.</span></div><div class=\"ps2113 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">La provision pour les autres avantages \u00e0 long terme est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">quant \u00e0 elle \u00e9gale \u00e0 la valeur actualis\u00e9e des obligations.</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les co\u00fbts attendus de ces avantages sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">en charges de personnel tout au long de la p\u00e9riode</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:137.88pt\">d\u2019activit\u00e9 du salari\u00e9 dans l\u2019entreprise.</span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:217.96pt\">La d\u00e9termination de ces provisions repose sur des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps608\" style=\"width:1.76pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps6588\" style=\"width:40.76pt\">\u00e9valuations</span><span class=\"f charStyle-165dec60 ps30844\" style=\"width:5.63pt\"> </span><span class=\"f charStyle-5064d44f ps30845\" style=\"width:171.56pt\">effectu\u00e9es par des actuaires ind\u00e9pendants</span><span class=\"f charStyle-5064d44f ps425\" style=\"width:1.89pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:70.1pt\">selon la m\u00e9thode<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30846\" style=\"width:10.04pt\"> d</span><span class=\"f charStyle-5064d44f ps30847\" style=\"width:137.8pt\">es unit\u00e9s de cr\u00e9dit projet\u00e9es avec</span><span class=\"f charStyle-5064d44f ps610\" style=\"width:1.89pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:97.48pt\">salaire de fin de carri\u00e8re. </span><span class=\"f charStyle-165dec60 ps30848\" style=\"width:120.5pt\">Ces \u00e9valuations int\u00e8grent aussi</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps8856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">bien des hypoth\u00e8ses macro\u00e9conomiques propres \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps8857 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">chaque pays dans lesquels le Groupe op\u00e8re (taux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps8858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019actualisation, croissance des salaires, \u00e9volution des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps8859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9penses de sant\u00e9) que d\u00e9mographiques (taux de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">rotation des effectifs, \u00e2ge de d\u00e9part en retraite, esp\u00e9rance</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:26.22pt\">de vie).</span></div><div class=\"ps8863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s par r\u00e9f\u00e9rence</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">aux rendements procur\u00e9s par les obligations \u00e9mises par</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:15.74pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps30849\" style=\"width:202.2pt\">entreprises de premi\u00e8re cat\u00e9gorie (not\u00e9es AA) sur des</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:21.88pt\">dur\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30850\" style=\"width:7.29pt\">s </span><span class=\"f charStyle-c709af45 ps30851\" style=\"width:188.79pt\">\u00e9quivalentes \u00e0 celles des engagements \u00e0 la date</span><span class=\"f charStyle-c709af45 ps16295\" style=\"width:1.87pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:44.89pt\">d\u2019\u00e9valuation</span><span class=\"f charStyle-165dec60 ps30852\" style=\"width:173.08pt\">. Dans les pays o\u00f9 le march\u00e9 des obligations</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.49pt\">d\u2019entreprises de </span><span class=\"f charStyle-4300c10f ps30853\" style=\"width:153.48pt\">haute qualit\u00e9 est insuffisamment profond,</span><span class=\"f charStyle-4300c10f ps16278\" style=\"width:1.73pt\"> </span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4300c10f ps448\" style=\"width:83.41pt\">les taux d\u2019actualisation</span><span class=\"f charStyle-165dec60 ps30854\" style=\"width:134.58pt\"> sont mesur\u00e9s en r\u00e9f\u00e9rence \u00e0 des</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:90.16pt\">taux gouvernementaux.</span></div><div class=\"ps2107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Des \u00e9carts actuariels sont g\u00e9n\u00e9r\u00e9s lorsque des diff\u00e9rences</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont constat\u00e9es entre les donn\u00e9es r\u00e9elles et les pr\u00e9visions</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">effectu\u00e9es ant\u00e9rieurement, ou suite \u00e0 des changements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u2019hypoth\u00e8ses actuarielles. Dans le cas d\u2019avantages \u00e0 long</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">terme pendant l\u2019emploi, les \u00e9carts actuariels sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">reconnus imm\u00e9diatement en r\u00e9sultat. En revanche, en ce</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">qui concerne les avantages post\u00e9rieurs \u00e0 l\u2019emploi, les</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.51pt\">\u00e9carts a</span><span class=\"f charStyle-9206869b ps30855\" style=\"width:188.46pt\">ctuariels g\u00e9n\u00e9r\u00e9s sont comptabilis\u00e9s dans l\u2019\u00e9tat du</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:30.16pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps30856\" style=\"width:109.71pt\">global, nets d\u2019imp\u00f4ts diff\u00e9r\u00e9s.</span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les co\u00fbts des services pass\u00e9s, r\u00e9sultant de l\u2019adoption d\u2019un<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">nouveau r\u00e9gime, de la modification d\u2019un r\u00e9gime existant</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">\u00e0 prestations d\u00e9finies, sont imm\u00e9diatement</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:96.22pt\">comptabilis\u00e9s en r\u00e9sultat.</span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La charge comptabilis\u00e9e au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.18pt\">comprend\u00a0:</span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">les co\u00fbts des services rendus au cours de l\u2019exercice, le</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.26pt\">co\u00fbt des services pass\u00e9s, les \u00e9carts actuariels sur les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps30242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:42.15pt\">avantages </span><span class=\"f charStyle-d77d7991 ps30857\" style=\"width:170.14pt\">\u00e0 long terme pendant l'emploi ainsi que les</span><span class=\"f charStyle-d77d7991 ps16295\" style=\"width:1.91pt\"> </span></div><div class=\"ps30858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps26704\" style=\"width:61.52pt\">\u00e9ventuels effets</span><span class=\"f charStyle-165dec60 ps4863\" style=\"width:150.78pt\"> de toute r\u00e9duction, modification ou</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps8860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:84.7pt\">liquidation de r\u00e9gime\u00a0;</span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps26704\" style=\"width:212.3pt\">la charge nette d\u2019int\u00e9r\u00eats comptabilis\u00e9e en r\u00e9sultat</span><span class=\"f charStyle-c709af45 ps29668\" style=\"width:1.87pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps26704\" style=\"width:32.06pt\">financier<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30860\" style=\"width:2.16pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-858f3e4c ps30861\" style=\"width:178.05pt\">sur les obligations (effet de d\u00e9sactualisation) et le</span><span class=\"f charStyle-858f3e4c ps16283\" style=\"width:1.81pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-858f3e4c ps26704\" style=\"width:41.45pt\">rendement</span><span class=\"f charStyle-165dec60 ps30862\" style=\"width:136.13pt\"> attendu sur les actifs de couverture.<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:140.31pt\">Une provision est constitu\u00e9e lorsque\u00a0:</span></div><div class=\"ps15280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">le Groupe a une obligation juridique, contractuelle ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:33.32pt\">implicite <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32779\" style=\"width:124.68pt\">r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9\u00a0;</span></div><div class=\"ps9256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps3285\" style=\"width:212.32pt\">il est probable qu\u2019une sortie de ressources repr\u00e9sentatives</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">d\u2019avantages \u00e9conomiques sera n\u00e9cessaire pour \u00e9teindre</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:45.32pt\">l\u2019obligation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77a4558 ps6588\" style=\"width:2.52pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps3285\" style=\"width:212.28pt\">le montant de l\u2019obligation peut \u00eatre estim\u00e9 de mani\u00e8re</span><span class=\"f charStyle-b5684510 ps425\" style=\"width:1.8pt\"> </span></div><div class=\"ps32781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps3285\" style=\"width:21.06pt\">fiable.<span class=\"f ps53\"> </span></span></div><div class=\"ps29271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:217.99pt\">Les provisions sont \u00e9valu\u00e9es en application de la norme</span><span class=\"f charStyle-49b0b1fa ps412\" style=\"width:1.84pt\"> </span></div><div class=\"ps29273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:32.77pt\">IAS\u00a037 </span><span class=\"f charStyle-165dec60 ps32782\" style=\"width:185.17pt\">en tenant compte des hypoth\u00e8ses les plus</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29275 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:113.02pt\">probables \u00e0 la date de cl\u00f4ture.</span></div><div class=\"ps32783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Des provisions pour garantie clients sont constitu\u00e9es pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">couvrir le co\u00fbt estim\u00e9 des retours des produits vendus.</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:5.01pt\">E</span><span class=\"f charStyle-49b068b5 ps32785\" style=\"width:212.93pt\">lles se d\u00e9composent en provisions statistiques et</span><span class=\"f charStyle-49b068b5 ps610\" style=\"width:1.86pt\"> </span></div><div class=\"ps29282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps6588\" style=\"width:36.95pt\">provisions</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:181.01pt\"> pour risques de qualit\u00e9 sp\u00e9cifiques. Les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">provisions pour garantie statistiques couvrent les risques</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">li\u00e9s aux engagements de garantie contractuels. Le calcul<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:129.67pt\">de la provision s\u2019appuie \u00e0 la <span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps17956\" style=\"width:88.26pt\">fois sur des donn\u00e9es</span><span class=\"f charStyle-d96cb356 ps415\" style=\"width:1.92pt\"> </span></div><div class=\"ps26775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:150.15pt\">historiques et des calculs de probabilit\u00e9.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32787\" style=\"width:67.81pt\"> La provision pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps26778 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">risques de qualit\u00e9 sp\u00e9cifiques couvre les co\u00fbts li\u00e9s \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.45pt\">situations ponctuelles exc\u00e9dant </span><span class=\"f charStyle-53279637 ps32788\" style=\"width:59.54pt\">le cadre de la </span><span class=\"f charStyle-dd2d44ff ps32789\" style=\"width:29.94pt\">garantie</span><span class=\"f charStyle-dd2d44ff ps415\" style=\"width:1.75pt\"> </span></div><div class=\"ps26780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps6588\" style=\"width:217.98pt\">normale. Les charges correspondantes sont enregistr\u00e9es</span><span class=\"f charStyle-dd2d44ff ps431\" style=\"width:1.75pt\"> </span></div><div class=\"ps26781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:89.36pt\">dans le co\u00fbt des ventes.<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les engagements r\u00e9sultant de plans de restructuration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont comptabilis\u00e9s lorsque des plans d\u00e9taill\u00e9s ont \u00e9t\u00e9<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9tablis et qu\u2019un commencement de mise en \u0153uvre ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.4pt\">une annonce </span><span class=\"f charStyle-9206869b ps32792\" style=\"width:158.58pt\">ont cr\u00e9\u00e9 une attente fond\u00e9e chez les</span><span class=\"f charStyle-9206869b ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:85.12pt\">personnes concern\u00e9es.</span></div><div class=\"ps15284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.94pt\">Une provision pour contrat d\u00e9ficitaire est comptabilis\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:26.76pt\">lorsque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32793\" style=\"width:5.66pt\"> l</span><span class=\"f charStyle-4afdd138 ps18636\" style=\"width:185.53pt\">es avantages \u00e9conomiques attendus du contrat</span><span class=\"f charStyle-4afdd138 ps16281\" style=\"width:1.9pt\"> </span></div><div class=\"ps15286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:51.14pt\">par le Groupe<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32794\" style=\"width:166.82pt\"> sont inf\u00e9rieurs aux co\u00fbts in\u00e9vitables devant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre engag\u00e9s pour satisfaire aux obligations</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.08pt\">contractuelles.</span><span class=\"f charStyle-165dec60 ps16078\" style=\"width:1.96pt\"> </span></div><div class=\"ps32795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.96pt\">Les provisions comprennent \u00e9galement des provisions</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:34.49pt\">destin\u00e9es</span><span class=\"f charStyle-165dec60 ps21333\" style=\"width:183.47pt\"> \u00e0 faire face \u00e0 des risques et litiges de nature</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.98pt\">commerciale, fiscale et sociale notamment li\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:45.69pt\">l\u2019exploitation</span><span class=\"f charStyle-165dec60 ps10966\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps32798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Lorsque le Groupe s\u2019attend \u00e0 ce que la totalit\u00e9 ou une</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">partie de la d\u00e9pense n\u00e9cessaire \u00e0 l'extinction d'une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.65pt\">provision soit rembours\u00e9e,</span><span class=\"f charStyle-367d076b ps32800\" style=\"width:117.31pt\"> ce remboursement donne lieu</span><span class=\"f charStyle-367d076b ps16295\" style=\"width:1.88pt\"> </span></div><div class=\"ps32802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:217.92pt\">\u00e0 la comptabilisation d\u2019une cr\u00e9ance distincte d\u00e8s lors que</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:93pt\">celui-ci est quasi-certain.</span><span class=\"f charStyle-165dec60 ps32803\" style=\"width:1.96pt\"> </span></div><div class=\"ps15300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les provisions dont l\u2019\u00e9ch\u00e9ance est sup\u00e9rieure \u00e0 un an ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps15301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">dont l\u2019\u00e9ch\u00e9ance n\u2019est pas fix\u00e9e de mani\u00e8re pr\u00e9cise sont</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps15302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:197.97pt\">class\u00e9es en \u00ab\u00a0Autres provisions - part \u00e0 plus d'un an\u00a0\u00bb.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-488": {
   "value": "29000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:RecognisedAssetsDefinedBenefitPlan",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-489": {
   "value": "31000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:RecognisedAssetsDefinedBenefitPlan",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-490": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">6.4<span id=\"ice26a63ea78640eea647efab6c57b92b\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30634\"><span style=\"display:inline-block;height:10.16pt;width:25.86pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Paiements fond\u00e9s sur les actions<span class=\"f ps53\"> </span></span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Certains salari\u00e9s du Groupe re\u00e7oivent une r\u00e9mun\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">en instruments de capitaux propres dont le paiement est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.48pt\">fond\u00e9 sur des actions.<span class=\"f ps53\"> </span></span></div><div class=\"ps31593 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Plans d\u2019actions gratuites<span id=\"ibdd3e5669aa54c3d94cf6f4e6021fc5a\"></span></span></div><div class=\"ps2633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La juste valeur de l\u2019avantage accord\u00e9 aux salari\u00e9s dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">cadre des plans d\u2019actions gratuites est estim\u00e9e sur la base<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">du cours de l\u2019action \u00e0 la date d\u2019attribution, en tenant</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2636 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">compte d\u2019une d\u00e9cote li\u00e9e aux dividendes non per\u00e7us sur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:8.39pt\">la </span><span class=\"f charStyle-42e3db84 ps31594\" style=\"width:113.02pt\">p\u00e9riode d\u2019acquisition des droits</span><span class=\"f charStyle-165dec60 ps31595\" style=\"width:1.59pt\">.</span></div><div class=\"ps6123 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">Pour les plans r\u00e9gl\u00e9s en instruments de capitaux propres,</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps6124 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.89pt\">la\u00a0charge globale du plan est calcul\u00e9e et fig\u00e9e \u00e0 la date</span><span class=\"f charStyle-81f42323 ps4098\" style=\"width:1.78pt\"> </span></div><div class=\"ps6125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">d\u2019attribution du plan. Le nombre d\u2019instruments que Valeo</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps2641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">s\u2019attend \u00e0 remettre aux b\u00e9n\u00e9ficiaires inclut l\u2019incidence li\u00e9e \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:200.87pt\">la rotation des populations concern\u00e9es par chaque plan.</span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:217.94pt\">L\u2019attribution finale \u00e9tant soumise \u00e0 une condition de</span><span class=\"f charStyle-bd02d35c ps16283\" style=\"width:1.76pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:41.44pt\">pr\u00e9sence, </span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.53pt\">cette charge de personnel est reconnue</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:80.25pt\">lin\u00e9airement sur la </span><span class=\"f charStyle-4afdd138 ps31597\" style=\"width:137.72pt\">p\u00e9riode d\u2019acquisition des droits en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:100.39pt\">contrepartie des capitaux </span><span class=\"f charStyle-165dec60 ps31598\" style=\"width:117.57pt\">propres. Le Groupe r\u00e9examine</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">p\u00e9riodiquement le nombre d\u2019actions gratuites \u00e0 remettre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">au regard d\u2019une non-atteinte partielle ou totale attendue<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">des crit\u00e8res de performance. Le cas \u00e9ch\u00e9ant, les</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">cons\u00e9quences de la r\u00e9vision des estimations sont</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">refl\u00e9t\u00e9es au compte de r\u00e9sultat. Le nombre d\u2019actions</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">gratuites attribuables en fonction du taux de rendement</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:19.54pt\">pour </span><span class=\"f charStyle-c709af45 ps31599\" style=\"width:65.21pt\">l\u2019actionnaire TSR (</span><span class=\"f charStyle-2faae11c ps31600\" style=\"width:93.79pt\">Total Shareholder Return</span><span class=\"f charStyle-c709af45 ps31601\" style=\"width:39.39pt\">) est quant</span><span class=\"f charStyle-c709af45 ps16299\" style=\"width:1.87pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:38.25pt\">\u00e0 lui fig\u00e9 </span><span class=\"f charStyle-165dec60 ps31602\" style=\"width:4.42pt\">\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps7700\" style=\"width:175.28pt\"> la date d\u2019approbation du plan par le Conseil</span><span class=\"f charStyle-49b0b1fa ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.7pt\">d\u2019administration.</span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">La prise en compte des actions gratuites dans le calcul</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:183.69pt\">du\u00a0r\u00e9sultat dilu\u00e9 par action est d\u00e9crite dans la </span><span class=\"f charStyle-165dec60 ps31603\" style=\"width:32.7pt\">Note 11.2</span><span class=\"f charStyle-165dec60 ps31604\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps7319 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.02pt\">page 447.</span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:101.95pt\">La charge enregistr\u00e9e en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31605\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31606\" style=\"width:241.65pt\"> relative aux plans d\u2019attribution d\u2019actions gratuites s\u2019\u00e9tablit \u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31607\" style=\"width:8.47pt\">32</span><span class=\"f charStyle-165dec60 ps31608\" style=\"width:70.07pt\"> millions d\u2019euros (<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31609\" style=\"width:8.5pt\">22</span><span class=\"f charStyle-165dec60 ps31610\" style=\"width:32.95pt\"> millions</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps16149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:79.82pt\">d\u2019euros sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31611\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps21080\" style=\"width:4.05pt\">).</span></div><div class=\"ps31612 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.4.1<span id=\"i142396b93b6f4e878c702a9bd3b3bd8a\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps8144\"><span style=\"display:inline-block;height:8.71pt;width:13.87pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Plans d\u2019actions gratuites<span class=\"f ps53\"> </span></span></div><div class=\"ps31613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">Les caract\u00e9ristiques des plans d\u2019actions gratuites en faveur du personnel du groupe Valeo, autoris\u00e9s par l\u2019Assembl\u00e9e g\u00e9n\u00e9rale<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31616 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:144.39pt\">des actionnaires, sont les suivantes au </span><span class=\"f charStyle-165dec60 ps31614\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps31615\" style=\"width:3.55pt\">\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps31661 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:78pt\"></td><td style=\"padding:0;width:3pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:33pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1974\"><div><div class=\"ps523 ss666\"><span class=\"f charStyle-ae6044e9 ps10\">Ann\u00e9e de mise <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss666\"><span class=\"f charStyle-ae6044e9 ps10\">en place du plan<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss1460\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps31617\">Nombre d'actions <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps28521\">gratuites <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps3295\">autoris\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss1460\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-b3448a70 ps14715\">dont accord\u00e9es</span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-b3448a70 ps26809\">sous r\u00e9serve<span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8af4369 ps31618\"><span class=\"f ps53\"> </span><sup>\u00a0(1)</sup></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1975\"><div><div class=\"ps4232 ss1020\"><span class=\"f charStyle-6bef0edd ps31619\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss1460\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps25239\">Ann\u00e9e </span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-98f46611 ps31620\">d'acquisition </span><span class=\"f charStyle-d93fd2c0 ps31621\"><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">2021<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31623 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.77pt\"></span></span><span class=\"ps31622\">2\u00a0070\u00a0829<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31625 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.43pt\"></span></span><span class=\"ps31624\">904\u00a0339<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31627 ss1976\"><div><div class=\"ps746 ss1020\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.81pt\"></span></span><span class=\"ps31626\">327\u00a0461<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31628 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps16518\">2024/2026<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31630 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.12pt\"></span></span><span class=\"ps31629\">2\u00a0308\u00a0057<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31632 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.21pt\"></span></span><span class=\"ps31631\">1\u00a0143\u00a0042<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31633 ss1976\"><div><div class=\"ps746 ss1020\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.75pt\"></span></span><span class=\"ps26759\">432\u00a0439<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31635 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps31634\">2025/2027<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">2023<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31637 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.16pt\"></span></span><span class=\"ps31636\">2\u00a0794\u00a0057<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31639 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.61pt\"></span></span><span class=\"ps31638\">1\u00a0295\u00a0347<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31640 ss1976\"><div><div class=\"ps746 ss1020\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.11pt\"></span></span><span class=\"ps4297\">2\u00a0425\u00a0030<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31642 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps31641\">2026<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31643 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.22pt\"></span></span><span class=\"ps31481\">2\u00a0925\u00a0243<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31645 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.58pt\"></span></span><span class=\"ps31644\">1\u00a0861\u00a0311<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31647 ss1976\"><div><div class=\"ps746 ss1020\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.31pt\"></span></span><span class=\"ps31646\">2\u00a0774\u00a0410<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31649 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps31648\">2027<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31650 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.78pt\"></span></span><span class=\"ps31208\">3\u00a0666\u00a0855<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31652 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.45pt\"></span></span><span class=\"ps31651\">2\u00a0232\u00a0088<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31653 ss1976\"><div><div class=\"ps746 ss1020\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.89pt\"></span></span><span class=\"ps9355\">3\u00a0607\u00a0989<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31655 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps31654\">2028<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10294 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31657 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.39pt\"></span></span><span class=\"ps31656\">13\u00a0765\u00a0041<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31659 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-7b22cd64\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.87pt\"></span></span><span class=\"ps31658\">7\u00a0436\u00a0127<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31660 ss1976\"><div><div class=\"ps746 ss1020\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.62pt\"></span></span><span class=\"ps31143\">9\u00a0567\u00a0329<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps31662 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e83e4d90 ps275\" style=\"width:6.12pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-e83e4d90 ps269\" style=\"width:467.07pt\">Ces actions gratuites sont accord\u00e9es sous r\u00e9serve de l\u2019atteinte par le Groupe de crit\u00e8res de performance sur les trois exercices suivant leur date<span class=\"f ps53\"> </span></span><span class=\"f charStyle-e83e4d90 ps1714\" style=\"width:1.54pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e83e4d90 ps269\" style=\"width:40.49pt\">d\u2019attribution.</span></div><div class=\"ps31665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:366.9pt\">Les actions gratuites attribu\u00e9es au Directeur G\u00e9n\u00e9ral sont soumises \u00e0 une p\u00e9riode de conservation de deux ans.</span><span class=\"f charStyle-776a1ec6 ps31664\" style=\"width:1.7pt\"> </span></div><div class=\"ps18311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:159.12pt\">La juste valeur du plan d'actions gratuites </span><span class=\"f charStyle-165dec60 ps31666\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps16992\" style=\"width:304.43pt\"> \u00e0 la date de sa mise en place a \u00e9t\u00e9 \u00e9valu\u00e9e sur la base d'une juste valeur unitaire</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps18312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">des\u00a0actions attribu\u00e9es de 8,33 euros. Celle-ci a \u00e9t\u00e9 d\u00e9termin\u00e9e en tenant compte d'un prix d'action de 9,98 euros en date de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:244.96pt\">mise en\u00a0place du plan et d'un taux d'int\u00e9r\u00eat sans risque de 2,29 %.</span><span class=\"f charStyle-165dec60 ps31667\" style=\"width:1.96pt\"> </span></div><div class=\"ps31669 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">6.4.2<span id=\"ia6f76d95c419495c9426869c9faae914\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps9225\"><span style=\"display:inline-block;height:8.71pt;width:12.08pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Mouvements des plans d\u2019actions gratuites<span class=\"f ps53\"> </span></span></div><div class=\"ps21037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:242.28pt\">Les mouvements sur les plans d\u2019actions gratuites intervenus sur <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31670\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31671\" style=\"width:67.06pt\"> sont les suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps31687 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:350.25pt\"></td><td style=\"padding:0;width:130.5pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28431 ss1979\"><div><div class=\"ps509 ss1978\"><span class=\"f charStyle-ae6044e9 ps31672\">Nombre d'actions gratuites<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1980\"><div><div class=\"ps746 ss1977\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ACTIONS GRATUITES EN VIGUEUR AU 1</span><span class=\"f charStyle-f4bb8995 ps31673\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps31674\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps31675\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31676 ss1979\"><div><div class=\"ps746 ss1978\"><span class=\"f charStyle-3f403986 ps30607\">7\u00a0999\u00a0173<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1980\"><div><div class=\"ps746 ss1977\"><span class=\"f charStyle-a696f64a ps10\">Actions gratuites attribu\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31678 ss1979\"><div><div class=\"ps746 ss1978\"><span class=\"f charStyle-a696f64a ps31677\">3\u00a0666\u00a0855<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1980\"><div><div class=\"ps746 ss1977\"><span class=\"f charStyle-a696f64a ps10\">Actions gratuites annul\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31679 ss1979\"><div><div class=\"ps746 ss1978\"><span class=\"f charStyle-a696f64a ps2003\">(352\u00a0585)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1980\"><div><div class=\"ps746 ss1977\"><span class=\"f charStyle-044fe383 ps10\">Actions gratuites remises</span><span class=\"f charStyle-4da12822 ps31680\"><sup>\u00a0(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31682 ss1979\"><div><div class=\"ps746 ss1978\"><span class=\"f charStyle-a696f64a ps31681\">(1\u00a0615\u00a0461)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1980\"><div><div class=\"ps746 ss1977\"><span class=\"f charStyle-a696f64a ps10\">Actions gratuites - Variations li\u00e9es aux conditions de performance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28454 ss1979\"><div><div class=\"ps746 ss1978\"><span class=\"f charStyle-a696f64a ps31683\">(130\u00a0653)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1980\"><div><div class=\"ps746 ss1977\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">ACTIONS GRATUITES EN VIGUEUR AU </span><span class=\"f charStyle-3f403986 ps31684\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31686 ss1979\"><div><div class=\"ps746 ss1978\"><span class=\"f charStyle-3f403986 ps31685\">9\u00a0567\u00a0329<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>(1)\u00a0 \u00a0 Y compris",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-491": {
   "value": "<div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Certains salari\u00e9s du Groupe re\u00e7oivent une r\u00e9mun\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">en instruments de capitaux propres dont le paiement est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.48pt\">fond\u00e9 sur des actions.<span class=\"f ps53\"> </span></span></div><div class=\"ps31593 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Plans d\u2019actions gratuites<span id=\"ibdd3e5669aa54c3d94cf6f4e6021fc5a\"></span></span></div><div class=\"ps2633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La juste valeur de l\u2019avantage accord\u00e9 aux salari\u00e9s dans le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">cadre des plans d\u2019actions gratuites est estim\u00e9e sur la base<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">du cours de l\u2019action \u00e0 la date d\u2019attribution, en tenant</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2636 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">compte d\u2019une d\u00e9cote li\u00e9e aux dividendes non per\u00e7us sur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:8.39pt\">la </span><span class=\"f charStyle-42e3db84 ps31594\" style=\"width:113.02pt\">p\u00e9riode d\u2019acquisition des droits</span><span class=\"f charStyle-165dec60 ps31595\" style=\"width:1.59pt\">.</span></div><div class=\"ps6123 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">Pour les plans r\u00e9gl\u00e9s en instruments de capitaux propres,</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps6124 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.89pt\">la\u00a0charge globale du plan est calcul\u00e9e et fig\u00e9e \u00e0 la date</span><span class=\"f charStyle-81f42323 ps4098\" style=\"width:1.78pt\"> </span></div><div class=\"ps6125 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.94pt\">d\u2019attribution du plan. Le nombre d\u2019instruments que Valeo</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps2641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.99pt\">s\u2019attend \u00e0 remettre aux b\u00e9n\u00e9ficiaires inclut l\u2019incidence li\u00e9e \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:200.87pt\">la rotation des populations concern\u00e9es par chaque plan.</span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:217.94pt\">L\u2019attribution finale \u00e9tant soumise \u00e0 une condition de</span><span class=\"f charStyle-bd02d35c ps16283\" style=\"width:1.76pt\"> </span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:41.44pt\">pr\u00e9sence, </span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.53pt\">cette charge de personnel est reconnue</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:80.25pt\">lin\u00e9airement sur la </span><span class=\"f charStyle-4afdd138 ps31597\" style=\"width:137.72pt\">p\u00e9riode d\u2019acquisition des droits en<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:100.39pt\">contrepartie des capitaux </span><span class=\"f charStyle-165dec60 ps31598\" style=\"width:117.57pt\">propres. Le Groupe r\u00e9examine</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">p\u00e9riodiquement le nombre d\u2019actions gratuites \u00e0 remettre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">au regard d\u2019une non-atteinte partielle ou totale attendue<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">des crit\u00e8res de performance. Le cas \u00e9ch\u00e9ant, les</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">cons\u00e9quences de la r\u00e9vision des estimations sont</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">refl\u00e9t\u00e9es au compte de r\u00e9sultat. Le nombre d\u2019actions</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">gratuites attribuables en fonction du taux de rendement</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:19.54pt\">pour </span><span class=\"f charStyle-c709af45 ps31599\" style=\"width:65.21pt\">l\u2019actionnaire TSR (</span><span class=\"f charStyle-2faae11c ps31600\" style=\"width:93.79pt\">Total Shareholder Return</span><span class=\"f charStyle-c709af45 ps31601\" style=\"width:39.39pt\">) est quant</span><span class=\"f charStyle-c709af45 ps16299\" style=\"width:1.87pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:38.25pt\">\u00e0 lui fig\u00e9 </span><span class=\"f charStyle-165dec60 ps31602\" style=\"width:4.42pt\">\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps7700\" style=\"width:175.28pt\"> la date d\u2019approbation du plan par le Conseil</span><span class=\"f charStyle-49b0b1fa ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.7pt\">d\u2019administration.</span></div><div class=\"ps7314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">La prise en compte des actions gratuites dans le calcul</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:183.69pt\">du\u00a0r\u00e9sultat dilu\u00e9 par action est d\u00e9crite dans la </span><span class=\"f charStyle-165dec60 ps31603\" style=\"width:32.7pt\">Note 11.2</span><span class=\"f charStyle-165dec60 ps31604\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps7319 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.02pt\">page 447.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-492": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">6.5<span id=\"i6e51f8ce0c6d4ac0b6b68a04a4e1fb54\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30721\"><span style=\"display:inline-block;height:10.16pt;width:26.85pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9mun\u00e9ration des dirigeants (parties li\u00e9es)<span class=\"f ps53\"> </span></span></div><div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:458.64pt\">Les principaux dirigeants du Groupe incluent le Pr\u00e9sident du Conseil d'administration, le Directeur G\u00e9n\u00e9ral, les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:58.88pt\">administrateurs<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31691\" style=\"width:399.65pt\"> (les\u00a0mandataires sociaux) ainsi que les membres du Comit\u00e9 ex\u00e9cutif. Ce dernier Comit\u00e9 compte<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27008\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:161.09pt\">12\u00a0membres (dont le\u00a0Directeur G\u00e9n\u00e9ral) au </span><span class=\"f charStyle-165dec60 ps20253\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps31692\" style=\"width:1.59pt\">.</span></div><div class=\"ps2105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.55pt\">La r\u00e9mun\u00e9ration des mandataires sociaux est pr\u00e9sent\u00e9e dans le Chapitre 3 \u00ab\u00a0Gouvernement d\u2019entreprise\u00a0\u00bb du Document</span><span class=\"f charStyle-165dec60 ps30348\" style=\"width:1.96pt\"> </span></div><div class=\"ps2106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:103.59pt\">d\u2019enregistrement universel <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31693\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31694\" style=\"width:1.59pt\">.</span></div><div class=\"ps15765 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.28pt\">Les charges li\u00e9es aux r\u00e9mun\u00e9rations, et autres avantages attribu\u00e9s aux mandataires sociaux ainsi qu\u2019aux membres du Comit\u00e9<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15766 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:301.68pt\">ex\u00e9cutif au titre de\u00a0leurs fonctions dans le Groupe se d\u00e9composent comme suit :</span></div><div class=\"ps31701 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">AVANTAGES \u00c0 COURT TERME<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">R\u00e9mun\u00e9rations fixes, variables, exceptionnelles et autres</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.51pt\"></span></span><span class=\"ps31696\">14<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.9pt\"></span></span><span class=\"ps30259\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">R\u00e9mun\u00e9rations li\u00e9es au mandat d'administrateur </span><span class=\"f charStyle-4da12822 ps31697\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.46pt\"></span></span><span class=\"ps31698\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.46pt\"></span></span><span class=\"ps31698\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">AUTRES AVANTAGES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Avantages post\u00e9rieurs \u00e0 l'emploi </span><span class=\"f charStyle-4da12822 ps31699\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">R\u00e9mun\u00e9rations fond\u00e9es sur les actions</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.38pt\"></span></span><span class=\"ps31700\">8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.94pt\"></span></span><span class=\"ps7867\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31702 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:413.08pt\">Les dirigeants mandataires sociaux ne per\u00e7oivent pas de r\u00e9mun\u00e9ration au titre de leur fonction d\u2019administrateur de Valeo SE.</span></div><div class=\"ps31704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:12.04pt\">Au </span><span class=\"f charStyle-776a1ec6 ps20975\" style=\"width:61.09pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps31703\" style=\"width:394.01pt\">, les provisions incluses dans l\u2019\u00e9tat de la situation financi\u00e8re du Groupe au titre des engagements de retraites des</span><span class=\"f charStyle-776a1ec6 ps449\" style=\"width:1.7pt\"> </span></div><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:203.38pt\">dirigeants s\u2019\u00e9l\u00e8vent \u00e0 10 millions d\u2019euros (8 millions d\u2019euros en </span><span class=\"f charStyle-776a1ec6 ps31705\" style=\"width:15.97pt\">2024</span><span class=\"f charStyle-776a1ec6 ps31706\" style=\"width:2.13pt\">)</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-493": {
   "value": "<div class=\"ps7087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:458.64pt\">Les principaux dirigeants du Groupe incluent le Pr\u00e9sident du Conseil d'administration, le Directeur G\u00e9n\u00e9ral, les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps6588\" style=\"width:58.88pt\">administrateurs<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31691\" style=\"width:399.65pt\"> (les\u00a0mandataires sociaux) ainsi que les membres du Comit\u00e9 ex\u00e9cutif. Ce dernier Comit\u00e9 compte<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27008\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps7089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:161.09pt\">12\u00a0membres (dont le\u00a0Directeur G\u00e9n\u00e9ral) au </span><span class=\"f charStyle-165dec60 ps20253\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps31692\" style=\"width:1.59pt\">.</span></div><div class=\"ps2105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.55pt\">La r\u00e9mun\u00e9ration des mandataires sociaux est pr\u00e9sent\u00e9e dans le Chapitre 3 \u00ab\u00a0Gouvernement d\u2019entreprise\u00a0\u00bb du Document</span><span class=\"f charStyle-165dec60 ps30348\" style=\"width:1.96pt\"> </span></div><div class=\"ps2106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:103.59pt\">d\u2019enregistrement universel <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31693\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31694\" style=\"width:1.59pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-498": {
   "value": "<div class=\"ps31710 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note\u00a0<span id=\"i5de67417060d45e79b97f37df820e544\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">7<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps11690\"><span style=\"display:inline-block;height:13.55pt;width:36.3pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Immobilisations</span><span class=\"f charStyle-26f8f9e5 ps31709\"> incorporelles et corporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps31712 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.1<span id=\"i60ab82a57d9346ed8437a399eb5d17ae\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps31711\"><span style=\"display:inline-block;height:10.16pt;width:29.15pt\"></span></span></span><span class=\"f charStyle-1cdc8014 ps408\">Goodwill<span class=\"f ps53\"> </span></span></div><div class=\"ps11949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.56pt\">Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31715\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31716\" style=\"width:311.21pt\"> sont initialement reconnus lors d\u2019un regroupement d\u2019entreprises tel que d\u00e9crit en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31717\" style=\"width:34.64pt\">Note 3.1.3</span><span class=\"f charStyle-165dec60 ps31718\" style=\"width:37.74pt\">, page 391.</span><span class=\"f charStyle-165dec60 ps31719\" style=\"width:1.96pt\"> </span></div><div class=\"ps6537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:458.57pt\">Post\u00e9rieurement \u00e0 leur comptabilisation initiale, ils ne sont pas amortis mais font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation d\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps29741\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31721 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:44.15pt\">l\u2019apparition <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31720\" style=\"width:414.49pt\">d\u2019indices de pertes de valeur et au minimum une fois par an. Les modalit\u00e9s des tests de d\u00e9pr\u00e9ciation r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps11953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.66pt\">sur </span><span class=\"f charStyle-165dec60 ps15725\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:63.98pt\"> sont d\u00e9crites en </span><span class=\"f charStyle-165dec60 ps31722\" style=\"width:31.27pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31723\" style=\"width:63.92pt\">, pages 419 \u00e0 422.</span></div><div class=\"ps31730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.14pt\">Les variations des </span><span class=\"f charStyle-e8054d08 ps31725\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps30534\" style=\"width:64.44pt\"> sur les exercices </span><span class=\"f charStyle-165dec60 ps31726\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31727\" style=\"width:11.49pt\"> et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31728\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31729\" style=\"width:101.14pt\"> sont d\u00e9taill\u00e9es ci-dessous\u00a0:</span></div><div class=\"ps31733 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\">\u00a0JANVIER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.08pt\"></span></span><span class=\"ps31732\">3\u00a0112<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions de l\u2019exercice<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cession de l'exercice<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.26pt\"></span></span><span class=\"ps18578\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">(98)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.38pt\"></span></span><span class=\"ps31700\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">2\u00a0986<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dont d\u00e9pr\u00e9ciation au 31 d\u00e9cembre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31736 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.14pt\">La diminution des</span><span class=\"f charStyle-e8054d08 ps31725\" style=\"width:36.29pt\"> goodwill </span><span class=\"f charStyle-165dec60 ps16033\" style=\"width:50.4pt\">sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31734\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31735\" style=\"width:308.66pt\"> s\u2019explique principalement par des effets de change, notamment l\u2019appr\u00e9ciation de</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps18509 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.34pt\">l\u2019euro par rapport au dollar am\u00e9ricain pour 44 millions d\u2019euros, au yen japonais pour 26 millions d\u2019euros et le won cor\u00e9en pour 21</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps18511 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:60.57pt\">millions d\u2019euros.</span></div><div class=\"ps31741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:70.29pt\">La diminution des </span><span class=\"f charStyle-e8054d08 ps31737\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps30561\" style=\"width:52.55pt\"> sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31738\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31739\" style=\"width:106.7pt\"> s\u2019expliquait principalement </span><span class=\"f charStyle-165dec60 ps31740\" style=\"width:201.06pt\">par le reclassement en \u00ab Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s \u00bb</span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> </span></div><div class=\"ps31744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.23pt\">du <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31742\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31743\" style=\"width:436.78pt\"> allou\u00e9 aux activit\u00e9s de capteurs automobiles permettant les mesures de temp\u00e9rature, de pression et de position de</span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> </span></div><div class=\"ps22233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:267.95pt\">tous types de syst\u00e8mes de propulsion pour 28 millions d'euros (cf. Note </span><span class=\"f charStyle-165dec60 ps31745\" style=\"width:15.9pt\">3.2.2</span><span class=\"f charStyle-165dec60 ps31746\" style=\"width:41.75pt\">, page 392).</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.56pt\">Les </span><span class=\"f charStyle-e8054d08 ps7577\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31747\" style=\"width:125.96pt\"> par Division se r\u00e9partissent ainsi\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:24pt\"></td><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-f660c20c ps22478\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-f660c20c ps31748\"> </span><span class=\"f charStyle-98a488d5 ps31749\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td rowspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss1934\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">67 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31750 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo POWER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.37pt\"></span></span><span class=\"ps31751\">2\u00a0011<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.31pt\"></span></span><span class=\"ps31752\">2\u00a0053<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30277 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30278 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">17 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31754 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo BRAIN</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30281 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.23pt\"></span></span><span class=\"ps31755\">523<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30357 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">541<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30283 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-bdbfbd4c ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30284 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">15 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31757 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo LIGHT</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30287 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">451<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30360 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.73pt\"></span></span><span class=\"ps31758\">491<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-5d69291e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">1 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31759 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Autres</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30364 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31760 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-6b9b8a9b ps10\">GOODWILL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">2\u00a0986<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10380 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31765 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.2<span id=\"ia546a63a4ed7466db05fb3b07b004ddc_2228\"></span><span id=\"i5f8662ec1dee4b6ebbd7b282cf42ecb0\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps31764\"><span style=\"display:inline-block;height:10.16pt;width:27.07pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Autres immobilisations incorporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations incorporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:20.42pt\">sont <span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps31768\" style=\"width:197.52pt\">\u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Les immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:48.32pt\">incorporelles </span><span class=\"f charStyle-165dec60 ps31769\" style=\"width:169.62pt\">acquises dans le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u2019entreprises sont comptabilis\u00e9es \u00e0 leur juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:123.53pt\">s\u00e9par\u00e9ment du goodwill. </span><span class=\"f charStyle-01aaed4f ps31770\" style=\"width:94.46pt\">Post\u00e9rieurement \u00e0 la</span><span class=\"f charStyle-01aaed4f ps412\" style=\"width:1.71pt\"> </span></div><div class=\"ps31772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-01aaed4f ps6588\" style=\"width:164.36pt\">comptabilisation initiale, les immobilisations</span><span class=\"f charStyle-165dec60 ps31771\" style=\"width:53.61pt\"> incorporelles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt diminu\u00e9 du cumul des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">amortissements et des pertes de valeur constat\u00e9es. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">immobilisations incorporelles font l\u2019objet de tests de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14132 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span><span class=\"f charStyle-165dec60 ps31775\" style=\"width:1.96pt\"> </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:217.99pt\">Les frais de d\u00e9veloppement inscrits dans les autres</span><span class=\"f charStyle-4177ffd9 ps412\" style=\"width:1.65pt\"> </span></div><div class=\"ps4908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:55.63pt\">immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5409\" style=\"width:6.61pt\"> </span><span class=\"f charStyle-367d076b ps31776\" style=\"width:155.72pt\">incorporelles de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-367d076b ps608\" style=\"width:1.88pt\"> </span></div><div class=\"ps4909 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:104.84pt\">financi\u00e8re correspondent </span><span class=\"f charStyle-165dec60 ps31777\" style=\"width:113.12pt\">\u00e0 des projets d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sp\u00e9cifique pour les clients, qui reposent sur des standards</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies d\u00e9j\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">appliqu\u00e9es en production. Ces projets font l\u2019objet d\u2019une</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">analyse au cas par cas afin de s\u2019assurer qu\u2019ils r\u00e9pondent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:176.81pt\">bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s en </span><span class=\"f charStyle-165dec60 ps31778\" style=\"width:39.52pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps837\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:66.07pt\">pages 399 et 400.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais encourus avant la d\u00e9cision formelle d\u2019entrer dans</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">le d\u00e9veloppement du produit sont enregistr\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:38.37pt\">charges d<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps31779\" style=\"width:179.6pt\">e la p\u00e9riode. Les frais encourus post\u00e9rieurement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16278\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.75pt\">au d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps31780\" style=\"width:163.21pt\"> de la production en s\u00e9rie sont trait\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">comme des co\u00fbts de production.</span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:217.96pt\">Les immobilisations incorporelles sont amorties selon la</span><span class=\"f charStyle-5dca4c00 ps16295\" style=\"width:1.74pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:33.36pt\">m\u00e9thode</span><span class=\"f charStyle-c8069515 ps31781\" style=\"width:184.59pt\"> lin\u00e9aire, en fonction des dur\u00e9es d\u2019utilisation</span><span class=\"f charStyle-c8069515 ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:30.9pt\">pr\u00e9vues\u00a0</span><span class=\"f charStyle-165dec60 ps31782\" style=\"width:1.59pt\">:<span class=\"f ps53\"> </span></span></div><div class=\"ps31792 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1990 ws0 ps407\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:108.75pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1985\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">logiciels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31784 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"padding:0\"><div class=\"ps513 ss1986\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">brevets et licences</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31786 ss1987\"><div><div class=\"ps526 ss292\"><span class=\"f charStyle-a696f64a ps3599\">en fonction des dur\u00e9es <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss292\"><span class=\"f charStyle-a696f64a ps28484\">d\u2019utilisation ou de </span></div><div class=\"ps527 ss292\"><span class=\"f charStyle-a696f64a ps31785\">protection<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps12723 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">frais de d\u00e9veloppement </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31788 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31787\">4 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps25614 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">actifs repr\u00e9sentatifs des </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">relations clients acquises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31790 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31789\">au maximum 25 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps9353 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">autres immobilisations </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31791 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8353 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:266.21pt\">Les autres immobilisations incorporelles se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps31826 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss518\"><div><div class=\"ps509 ss28\"><span class=\"f charStyle-6bef0edd ps30403\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1991\"><div><div class=\"ps16333 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30405 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps27335\">Valeur brute<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30407 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps22454\">Amortissements<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps11159\">et d\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps24121 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31794 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.44pt\"></span></span><span class=\"ps31793\">503<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31795 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.96pt\"></span></span><span class=\"ps27850\">(425)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31797 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.67pt\"></span></span><span class=\"ps31796\">78<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31798 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.5pt\"></span></span><span class=\"ps24129\">74<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Brevets et licences<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31799 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">544<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31801 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.27pt\"></span></span><span class=\"ps31800\">(304)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31803 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.7pt\"></span></span><span class=\"ps31802\">240<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31805 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.09pt\"></span></span><span class=\"ps31804\">260<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31807 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.99pt\"></span></span><span class=\"ps31806\">6\u00a0715<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31809 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.49pt\"></span></span><span class=\"ps31808\">(3\u00a0943)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31811 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.58pt\"></span></span><span class=\"ps31810\">2\u00a0772<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31812 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.22pt\"></span></span><span class=\"ps30758\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1992\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Relations clients et autres </span></div><div class=\"ps748 ss1943\"><span class=\"f charStyle-044fe383 ps10\">immobilisations\u00a0incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31813 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.42pt\"></span></span><span class=\"ps30690\">505<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31815 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.67pt\"></span></span><span class=\"ps31814\">(364)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31817 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.51pt\"></span></span><span class=\"ps31816\">141<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31818 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.69pt\"></span></span><span class=\"ps26306\">200<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16625 ss1991\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">AUTRES IMMOBILISATIONS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss1943\"><span class=\"f charStyle-96b05324 ps10\">INCORPORELLES</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31820 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.58pt\"></span></span><span class=\"ps31819\">8\u00a0267<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31822 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.86pt\"></span></span><span class=\"ps31821\">(5\u00a0036)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31823 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.12pt\"></span></span><span class=\"ps25690\">3\u00a0231<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31825 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.75pt\"></span></span><span class=\"ps31824\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:243.34pt\">Les variations des immobilisations incorporelles sur les exercices </span><span class=\"f charStyle-165dec60 ps31827\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31828\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps31829\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31830\" style=\"width:101.68pt\"> sont analys\u00e9es ci-dessous\u00a0:</span></div><div class=\"ps16503 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i99e9065bc30045069719f16b79f4d746\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps16525 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:167.25pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:61.5pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1994\"><div><div class=\"ps30968 ss1993\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31831 ss1995\"><div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps15679\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9723 ss1995\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31832\">Brevets <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps13195\">et\u00a0licences</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28761 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-98f46611 ps31833\">Frais de </span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-7c8d2a4e ps16671\">d\u00e9veloppement</span><span class=\"f charStyle-98f46611 ps31834\"> </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-98f46611 ps31835\">immobilis\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31838 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps3785\">Relations <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31836\">clients et </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps31837\">autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10435 ss687\"><div><div class=\"ps4232 ss680\"><span class=\"f charStyle-6bef0edd ps27406\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps31840\"> </span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31842 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.95pt\"></span></span><span class=\"ps31841\">503<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31844 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.86pt\"></span></span><span class=\"ps31843\">554<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31845 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.71pt\"></span></span><span class=\"ps26189\">6\u00a0511<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31847 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.31pt\"></span></span><span class=\"ps31846\">623<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31849 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.72pt\"></span></span><span class=\"ps31848\">8\u00a0191<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et d\u00e9pr\u00e9ciations cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31850 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.72pt\"></span></span><span class=\"ps3452\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31851 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.72pt\"></span></span><span class=\"ps3452\">(294)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31853 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.08pt\"></span></span><span class=\"ps31852\">(3\u00a0726)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31854 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">(423)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31855 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.63pt\"></span></span><span class=\"ps28741\">(4\u00a0872)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31857 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.13pt\"></span></span><span class=\"ps29950\">74<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31859 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.66pt\"></span></span><span class=\"ps31858\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31860 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.34pt\"></span></span><span class=\"ps31462\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31862 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.34pt\"></span></span><span class=\"ps31861\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31863 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.73pt\"></span></span><span class=\"ps28863\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31865 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.02pt\"></span></span><span class=\"ps31864\">31<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31867 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31869 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.2pt\"></span></span><span class=\"ps31868\">930<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31871 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31873 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.1pt\"></span></span><span class=\"ps31872\">963<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31874 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31875 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31876 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31878 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31880 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.28pt\"></span></span><span class=\"ps31879\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10294 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31881 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31883 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31884 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31885 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31886 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.76pt\"></span></span><span class=\"ps20767\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps19787 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Reprises/(Pertes) de valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31887 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31888 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31889 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">(234)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31891 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.24pt\"></span></span><span class=\"ps31890\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31892 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.29pt\"></span></span><span class=\"ps25574\">(233)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10037 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31894 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.28pt\"></span></span><span class=\"ps31893\">(24)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31896 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.27pt\"></span></span><span class=\"ps31895\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31897 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.45pt\"></span></span><span class=\"ps31488\">(623)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31899 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31901 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.66pt\"></span></span><span class=\"ps31900\">(704)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8283 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31902 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31903 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31905 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.97pt\"></span></span><span class=\"ps31904\">(94)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31906 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.08pt\"></span></span><span class=\"ps28696\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31907 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.54pt\"></span></span><span class=\"ps26325\">(108)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22388 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31909 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31910 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31912 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.16pt\"></span></span><span class=\"ps31911\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31914 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.82pt\"></span></span><span class=\"ps31913\">(10)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31916 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.73pt\"></span></span><span class=\"ps31915\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10878 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31919 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.34pt\"></span></span><span class=\"ps31918\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31921 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.27pt\"></span></span><span class=\"ps31920\">240<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31923 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.68pt\"></span></span><span class=\"ps31922\">2\u00a0772<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31925 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.9pt\"></span></span><span class=\"ps31924\">141<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31926 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.08pt\"></span></span><span class=\"ps28205\">3\u00a0231<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31929 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:119.57pt\">Comprend principalement les actifs </span><span class=\"f charStyle-776a1ec6 ps31927\" style=\"width:105.2pt\">des activit\u00e9s d'\u00e9clairage en Inde</span><span class=\"f charStyle-776a1ec6 ps31928\" style=\"width:203.59pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2025.<span class=\"f ps53\"> </span></span></div><div class=\"ps31930 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"ia123761e1d704dbb89cd6238a25256ed\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps31987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3131\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:166.5pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2000\"><div><div class=\"ps30968 ss1999\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps14666 ss1995\"><div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps15679\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30895 ss1995\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31832\">Brevets <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps13195\">et\u00a0licences</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31931 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-98f46611 ps31833\">Frais de </span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-7c8d2a4e ps16671\">d\u00e9veloppement</span><span class=\"f charStyle-98f46611 ps31834\"> </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-98f46611 ps31835\">immobilis\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps13833 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps3785\">Relations <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31836\">clients et </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps31837\">autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11509 ss2001\"><div><div class=\"ps4232 ss331\"><span class=\"f charStyle-6bef0edd ps31115\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31933 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.39pt\"></span></span><span class=\"ps31932\">483<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30902 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.25pt\"></span></span><span class=\"ps20868\">556<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31934 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.38pt\"></span></span><span class=\"ps9345\">6\u00a0042<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31935 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.94pt\"></span></span><span class=\"ps3444\">659<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31937 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.52pt\"></span></span><span class=\"ps31936\">7\u00a0740<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et d\u00e9pr\u00e9ciations cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31939 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.03pt\"></span></span><span class=\"ps31938\">(422)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30910 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">(259)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31941 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.25pt\"></span></span><span class=\"ps31940\">(3\u00a0625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13846 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.44pt\"></span></span><span class=\"ps26201\">(377)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31942 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.26pt\"></span></span><span class=\"ps31145\">(4\u00a0683)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31943 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.23pt\"></span></span><span class=\"ps25887\">61<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30917 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.1pt\"></span></span><span class=\"ps31944\">297<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31945 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.65pt\"></span></span><span class=\"ps28885\">2\u00a0417<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31947 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.15pt\"></span></span><span class=\"ps31946\">282<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31948 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.43pt\"></span></span><span class=\"ps18605\">3\u00a0057<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31949 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.03pt\"></span></span><span class=\"ps22206\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30926 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31951 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.13pt\"></span></span><span class=\"ps31950\">1\u00a0045<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31952 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31954 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.23pt\"></span></span><span class=\"ps31953\">1\u00a0089<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31955 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30936 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31957 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.36pt\"></span></span><span class=\"ps31956\">(66)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31958 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">(48)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31960 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.38pt\"></span></span><span class=\"ps31959\">(114)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10294 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31962 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.67pt\"></span></span><span class=\"ps31961\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31963 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31964 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">(625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31966 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.7pt\"></span></span><span class=\"ps31965\">(36)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31967 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.66pt\"></span></span><span class=\"ps9430\">(727)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps19787 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31968 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31969 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31971 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.16pt\"></span></span><span class=\"ps31970\">39<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31973 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.26pt\"></span></span><span class=\"ps31972\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31974 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.75pt\"></span></span><span class=\"ps25647\">33<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10037 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31976 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.72pt\"></span></span><span class=\"ps31975\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31977 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31978 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.99pt\"></span></span><span class=\"ps31436\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31979 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.72pt\"></span></span><span class=\"ps31975\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31981 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.47pt\"></span></span><span class=\"ps31980\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8283 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31982 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.13pt\"></span></span><span class=\"ps29950\">74<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31983 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.66pt\"></span></span><span class=\"ps31858\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31984 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.34pt\"></span></span><span class=\"ps31462\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31985 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.34pt\"></span></span><span class=\"ps31861\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31986 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:4.67pt\">C</span><span class=\"f charStyle-776a1ec6 ps29369\" style=\"width:126.37pt\">omprend principalement les actifs de </span><span class=\"f charStyle-28cb5f66 ps31988\" style=\"width:336.08pt\"><span style=\"background-color:inherit\">l'activit\u00e9 de capteurs automobiles permettant les mesures de temp\u00e9rature, de pression et de position</span></span><span class=\"f charStyle-28cb5f66 ps458\" style=\"width:1.7pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps31991 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-28cb5f66 ps269\" style=\"width:132.36pt\"><span style=\"background-color:inherit\">de tous types de syst\u00e8mes de propulsion</span></span><span class=\"f charStyle-776a1ec6 ps31990\" style=\"width:204.21pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2024.</span></div><div class=\"ps31996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.44pt\">En </span><span class=\"f charStyle-165dec60 ps31992\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31993\" style=\"width:6.95pt\">, </span><span class=\"f charStyle-68ecf294 ps31994\" style=\"width:268.47pt\"><span style=\"background-color:inherit\">Valeo a comptabilis\u00e9 des pertes de valeur significatives suite \u00e0 </span></span><span class=\"f charStyle-165dec60 ps31995\" style=\"width:172.67pt\">des annulations de contrats en phase de</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps31997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.25pt\">d\u00e9veloppement pour lesquelles le Groupe a obtenu des compensations de ses clients. Les pertes de valeur constat\u00e9es en 2024</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:259.12pt\">\u00e9taient elles aussi principalement li\u00e9es \u00e0 des annulations de contrats.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-497": {
   "value": "<div class=\"ps31710 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note\u00a0<span id=\"i5de67417060d45e79b97f37df820e544\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">7<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps11690\"><span style=\"display:inline-block;height:13.55pt;width:36.3pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Immobilisations</span><span class=\"f charStyle-26f8f9e5 ps31709\"> incorporelles et corporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps31712 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.1<span id=\"i60ab82a57d9346ed8437a399eb5d17ae\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps31711\"><span style=\"display:inline-block;height:10.16pt;width:29.15pt\"></span></span></span><span class=\"f charStyle-1cdc8014 ps408\">Goodwill<span class=\"f ps53\"> </span></span></div><div class=\"ps11949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.56pt\">Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31715\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31716\" style=\"width:311.21pt\"> sont initialement reconnus lors d\u2019un regroupement d\u2019entreprises tel que d\u00e9crit en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31717\" style=\"width:34.64pt\">Note 3.1.3</span><span class=\"f charStyle-165dec60 ps31718\" style=\"width:37.74pt\">, page 391.</span><span class=\"f charStyle-165dec60 ps31719\" style=\"width:1.96pt\"> </span></div><div class=\"ps6537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:458.57pt\">Post\u00e9rieurement \u00e0 leur comptabilisation initiale, ils ne sont pas amortis mais font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation d\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps29741\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31721 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:44.15pt\">l\u2019apparition <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31720\" style=\"width:414.49pt\">d\u2019indices de pertes de valeur et au minimum une fois par an. Les modalit\u00e9s des tests de d\u00e9pr\u00e9ciation r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps11953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.66pt\">sur </span><span class=\"f charStyle-165dec60 ps15725\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:63.98pt\"> sont d\u00e9crites en </span><span class=\"f charStyle-165dec60 ps31722\" style=\"width:31.27pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31723\" style=\"width:63.92pt\">, pages 419 \u00e0 422.</span></div><div class=\"ps31730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.14pt\">Les variations des </span><span class=\"f charStyle-e8054d08 ps31725\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps30534\" style=\"width:64.44pt\"> sur les exercices </span><span class=\"f charStyle-165dec60 ps31726\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31727\" style=\"width:11.49pt\"> et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31728\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31729\" style=\"width:101.14pt\"> sont d\u00e9taill\u00e9es ci-dessous\u00a0:</span></div><div class=\"ps31733 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\">\u00a0JANVIER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.08pt\"></span></span><span class=\"ps31732\">3\u00a0112<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions de l\u2019exercice<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cession de l'exercice<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.26pt\"></span></span><span class=\"ps18578\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">(98)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.38pt\"></span></span><span class=\"ps31700\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">2\u00a0986<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dont d\u00e9pr\u00e9ciation au 31 d\u00e9cembre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31736 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.14pt\">La diminution des</span><span class=\"f charStyle-e8054d08 ps31725\" style=\"width:36.29pt\"> goodwill </span><span class=\"f charStyle-165dec60 ps16033\" style=\"width:50.4pt\">sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31734\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31735\" style=\"width:308.66pt\"> s\u2019explique principalement par des effets de change, notamment l\u2019appr\u00e9ciation de</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps18509 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.34pt\">l\u2019euro par rapport au dollar am\u00e9ricain pour 44 millions d\u2019euros, au yen japonais pour 26 millions d\u2019euros et le won cor\u00e9en pour 21</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps18511 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:60.57pt\">millions d\u2019euros.</span></div><div class=\"ps31741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:70.29pt\">La diminution des </span><span class=\"f charStyle-e8054d08 ps31737\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps30561\" style=\"width:52.55pt\"> sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31738\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31739\" style=\"width:106.7pt\"> s\u2019expliquait principalement </span><span class=\"f charStyle-165dec60 ps31740\" style=\"width:201.06pt\">par le reclassement en \u00ab Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s \u00bb</span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> </span></div><div class=\"ps31744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.23pt\">du <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31742\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31743\" style=\"width:436.78pt\"> allou\u00e9 aux activit\u00e9s de capteurs automobiles permettant les mesures de temp\u00e9rature, de pression et de position de</span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> </span></div><div class=\"ps22233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:267.95pt\">tous types de syst\u00e8mes de propulsion pour 28 millions d'euros (cf. Note </span><span class=\"f charStyle-165dec60 ps31745\" style=\"width:15.9pt\">3.2.2</span><span class=\"f charStyle-165dec60 ps31746\" style=\"width:41.75pt\">, page 392).</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.56pt\">Les </span><span class=\"f charStyle-e8054d08 ps7577\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31747\" style=\"width:125.96pt\"> par Division se r\u00e9partissent ainsi\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:24pt\"></td><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-f660c20c ps22478\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-f660c20c ps31748\"> </span><span class=\"f charStyle-98a488d5 ps31749\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td rowspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss1934\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">67 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31750 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo POWER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.37pt\"></span></span><span class=\"ps31751\">2\u00a0011<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.31pt\"></span></span><span class=\"ps31752\">2\u00a0053<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30277 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30278 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">17 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31754 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo BRAIN</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30281 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.23pt\"></span></span><span class=\"ps31755\">523<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30357 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">541<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30283 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-bdbfbd4c ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30284 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">15 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31757 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo LIGHT</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30287 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">451<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30360 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.73pt\"></span></span><span class=\"ps31758\">491<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-5d69291e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">1 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31759 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Autres</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30364 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31760 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-6b9b8a9b ps10\">GOODWILL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">2\u00a0986<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10380 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-496": {
   "value": "<div class=\"ps31710 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note\u00a0<span id=\"i5de67417060d45e79b97f37df820e544\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">7<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps11690\"><span style=\"display:inline-block;height:13.55pt;width:36.3pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Immobilisations</span><span class=\"f charStyle-26f8f9e5 ps31709\"> incorporelles et corporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps31765 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.2<span id=\"ia546a63a4ed7466db05fb3b07b004ddc_2228\"></span><span id=\"i5f8662ec1dee4b6ebbd7b282cf42ecb0\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps31764\"><span style=\"display:inline-block;height:10.16pt;width:27.07pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Autres immobilisations incorporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations incorporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:20.42pt\">sont <span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps31768\" style=\"width:197.52pt\">\u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Les immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:48.32pt\">incorporelles </span><span class=\"f charStyle-165dec60 ps31769\" style=\"width:169.62pt\">acquises dans le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u2019entreprises sont comptabilis\u00e9es \u00e0 leur juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:123.53pt\">s\u00e9par\u00e9ment du goodwill. </span><span class=\"f charStyle-01aaed4f ps31770\" style=\"width:94.46pt\">Post\u00e9rieurement \u00e0 la</span><span class=\"f charStyle-01aaed4f ps412\" style=\"width:1.71pt\"> </span></div><div class=\"ps31772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-01aaed4f ps6588\" style=\"width:164.36pt\">comptabilisation initiale, les immobilisations</span><span class=\"f charStyle-165dec60 ps31771\" style=\"width:53.61pt\"> incorporelles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt diminu\u00e9 du cumul des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">amortissements et des pertes de valeur constat\u00e9es. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">immobilisations incorporelles font l\u2019objet de tests de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14132 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span><span class=\"f charStyle-165dec60 ps31775\" style=\"width:1.96pt\"> </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:217.99pt\">Les frais de d\u00e9veloppement inscrits dans les autres</span><span class=\"f charStyle-4177ffd9 ps412\" style=\"width:1.65pt\"> </span></div><div class=\"ps4908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:55.63pt\">immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5409\" style=\"width:6.61pt\"> </span><span class=\"f charStyle-367d076b ps31776\" style=\"width:155.72pt\">incorporelles de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-367d076b ps608\" style=\"width:1.88pt\"> </span></div><div class=\"ps4909 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:104.84pt\">financi\u00e8re correspondent </span><span class=\"f charStyle-165dec60 ps31777\" style=\"width:113.12pt\">\u00e0 des projets d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sp\u00e9cifique pour les clients, qui reposent sur des standards</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies d\u00e9j\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">appliqu\u00e9es en production. Ces projets font l\u2019objet d\u2019une</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">analyse au cas par cas afin de s\u2019assurer qu\u2019ils r\u00e9pondent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:176.81pt\">bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s en </span><span class=\"f charStyle-165dec60 ps31778\" style=\"width:39.52pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps837\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:66.07pt\">pages 399 et 400.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais encourus avant la d\u00e9cision formelle d\u2019entrer dans</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">le d\u00e9veloppement du produit sont enregistr\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:38.37pt\">charges d<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps31779\" style=\"width:179.6pt\">e la p\u00e9riode. Les frais encourus post\u00e9rieurement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16278\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.75pt\">au d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps31780\" style=\"width:163.21pt\"> de la production en s\u00e9rie sont trait\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">comme des co\u00fbts de production.</span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:217.96pt\">Les immobilisations incorporelles sont amorties selon la</span><span class=\"f charStyle-5dca4c00 ps16295\" style=\"width:1.74pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:33.36pt\">m\u00e9thode</span><span class=\"f charStyle-c8069515 ps31781\" style=\"width:184.59pt\"> lin\u00e9aire, en fonction des dur\u00e9es d\u2019utilisation</span><span class=\"f charStyle-c8069515 ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:30.9pt\">pr\u00e9vues\u00a0</span><span class=\"f charStyle-165dec60 ps31782\" style=\"width:1.59pt\">:<span class=\"f ps53\"> </span></span></div><div class=\"ps31792 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1990 ws0 ps407\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:108.75pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1985\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">logiciels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31784 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"padding:0\"><div class=\"ps513 ss1986\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">brevets et licences</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31786 ss1987\"><div><div class=\"ps526 ss292\"><span class=\"f charStyle-a696f64a ps3599\">en fonction des dur\u00e9es <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss292\"><span class=\"f charStyle-a696f64a ps28484\">d\u2019utilisation ou de </span></div><div class=\"ps527 ss292\"><span class=\"f charStyle-a696f64a ps31785\">protection<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps12723 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">frais de d\u00e9veloppement </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31788 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31787\">4 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps25614 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">actifs repr\u00e9sentatifs des </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">relations clients acquises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31790 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31789\">au maximum 25 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps9353 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">autres immobilisations </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31791 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8353 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:266.21pt\">Les autres immobilisations incorporelles se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps31826 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss518\"><div><div class=\"ps509 ss28\"><span class=\"f charStyle-6bef0edd ps30403\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1991\"><div><div class=\"ps16333 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30405 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps27335\">Valeur brute<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30407 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps22454\">Amortissements<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps11159\">et d\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps24121 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31794 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.44pt\"></span></span><span class=\"ps31793\">503<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31795 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.96pt\"></span></span><span class=\"ps27850\">(425)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31797 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.67pt\"></span></span><span class=\"ps31796\">78<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31798 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.5pt\"></span></span><span class=\"ps24129\">74<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Brevets et licences<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31799 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">544<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31801 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.27pt\"></span></span><span class=\"ps31800\">(304)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31803 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.7pt\"></span></span><span class=\"ps31802\">240<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31805 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.09pt\"></span></span><span class=\"ps31804\">260<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31807 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.99pt\"></span></span><span class=\"ps31806\">6\u00a0715<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31809 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.49pt\"></span></span><span class=\"ps31808\">(3\u00a0943)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31811 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.58pt\"></span></span><span class=\"ps31810\">2\u00a0772<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31812 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.22pt\"></span></span><span class=\"ps30758\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1992\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Relations clients et autres </span></div><div class=\"ps748 ss1943\"><span class=\"f charStyle-044fe383 ps10\">immobilisations\u00a0incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31813 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.42pt\"></span></span><span class=\"ps30690\">505<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31815 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.67pt\"></span></span><span class=\"ps31814\">(364)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31817 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.51pt\"></span></span><span class=\"ps31816\">141<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31818 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.69pt\"></span></span><span class=\"ps26306\">200<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16625 ss1991\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">AUTRES IMMOBILISATIONS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss1943\"><span class=\"f charStyle-96b05324 ps10\">INCORPORELLES</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31820 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.58pt\"></span></span><span class=\"ps31819\">8\u00a0267<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31822 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.86pt\"></span></span><span class=\"ps31821\">(5\u00a0036)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31823 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.12pt\"></span></span><span class=\"ps25690\">3\u00a0231<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31825 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.75pt\"></span></span><span class=\"ps31824\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:243.34pt\">Les variations des immobilisations incorporelles sur les exercices </span><span class=\"f charStyle-165dec60 ps31827\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31828\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps31829\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31830\" style=\"width:101.68pt\"> sont analys\u00e9es ci-dessous\u00a0:</span></div><div class=\"ps16503 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i99e9065bc30045069719f16b79f4d746\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps16525 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:167.25pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:61.5pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1994\"><div><div class=\"ps30968 ss1993\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31831 ss1995\"><div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps15679\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9723 ss1995\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31832\">Brevets <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps13195\">et\u00a0licences</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28761 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-98f46611 ps31833\">Frais de </span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-7c8d2a4e ps16671\">d\u00e9veloppement</span><span class=\"f charStyle-98f46611 ps31834\"> </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-98f46611 ps31835\">immobilis\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31838 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps3785\">Relations <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31836\">clients et </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps31837\">autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10435 ss687\"><div><div class=\"ps4232 ss680\"><span class=\"f charStyle-6bef0edd ps27406\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps31840\"> </span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31842 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.95pt\"></span></span><span class=\"ps31841\">503<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31844 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.86pt\"></span></span><span class=\"ps31843\">554<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31845 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.71pt\"></span></span><span class=\"ps26189\">6\u00a0511<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31847 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.31pt\"></span></span><span class=\"ps31846\">623<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31849 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.72pt\"></span></span><span class=\"ps31848\">8\u00a0191<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et d\u00e9pr\u00e9ciations cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31850 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.72pt\"></span></span><span class=\"ps3452\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31851 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.72pt\"></span></span><span class=\"ps3452\">(294)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31853 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.08pt\"></span></span><span class=\"ps31852\">(3\u00a0726)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31854 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">(423)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31855 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.63pt\"></span></span><span class=\"ps28741\">(4\u00a0872)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31857 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.13pt\"></span></span><span class=\"ps29950\">74<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31859 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.66pt\"></span></span><span class=\"ps31858\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31860 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.34pt\"></span></span><span class=\"ps31462\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31862 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.34pt\"></span></span><span class=\"ps31861\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31863 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.73pt\"></span></span><span class=\"ps28863\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31865 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.02pt\"></span></span><span class=\"ps31864\">31<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31867 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31869 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.2pt\"></span></span><span class=\"ps31868\">930<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31871 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31873 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.1pt\"></span></span><span class=\"ps31872\">963<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31874 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31875 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31876 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31878 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31880 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.28pt\"></span></span><span class=\"ps31879\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10294 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31881 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31883 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31884 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31885 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31886 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.76pt\"></span></span><span class=\"ps20767\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps19787 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Reprises/(Pertes) de valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31887 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31888 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31889 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">(234)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31891 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.24pt\"></span></span><span class=\"ps31890\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31892 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.29pt\"></span></span><span class=\"ps25574\">(233)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10037 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31894 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.28pt\"></span></span><span class=\"ps31893\">(24)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31896 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.27pt\"></span></span><span class=\"ps31895\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31897 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.45pt\"></span></span><span class=\"ps31488\">(623)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31899 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31901 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.66pt\"></span></span><span class=\"ps31900\">(704)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8283 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31902 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31903 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31905 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.97pt\"></span></span><span class=\"ps31904\">(94)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31906 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.08pt\"></span></span><span class=\"ps28696\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31907 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.54pt\"></span></span><span class=\"ps26325\">(108)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22388 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31909 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31910 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31912 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.16pt\"></span></span><span class=\"ps31911\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31914 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.82pt\"></span></span><span class=\"ps31913\">(10)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31916 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.73pt\"></span></span><span class=\"ps31915\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10878 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31919 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.34pt\"></span></span><span class=\"ps31918\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31921 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.27pt\"></span></span><span class=\"ps31920\">240<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31923 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.68pt\"></span></span><span class=\"ps31922\">2\u00a0772<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31925 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.9pt\"></span></span><span class=\"ps31924\">141<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31926 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.08pt\"></span></span><span class=\"ps28205\">3\u00a0231<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31929 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:119.57pt\">Comprend principalement les actifs </span><span class=\"f charStyle-776a1ec6 ps31927\" style=\"width:105.2pt\">des activit\u00e9s d'\u00e9clairage en Inde</span><span class=\"f charStyle-776a1ec6 ps31928\" style=\"width:203.59pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2025.<span class=\"f ps53\"> </span></span></div><div class=\"ps31930 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"ia123761e1d704dbb89cd6238a25256ed\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps31987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3131\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:166.5pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2000\"><div><div class=\"ps30968 ss1999\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps14666 ss1995\"><div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps15679\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30895 ss1995\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31832\">Brevets <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps13195\">et\u00a0licences</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31931 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-98f46611 ps31833\">Frais de </span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-7c8d2a4e ps16671\">d\u00e9veloppement</span><span class=\"f charStyle-98f46611 ps31834\"> </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-98f46611 ps31835\">immobilis\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps13833 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps3785\">Relations <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31836\">clients et </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps31837\">autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11509 ss2001\"><div><div class=\"ps4232 ss331\"><span class=\"f charStyle-6bef0edd ps31115\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31933 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.39pt\"></span></span><span class=\"ps31932\">483<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30902 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.25pt\"></span></span><span class=\"ps20868\">556<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31934 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.38pt\"></span></span><span class=\"ps9345\">6\u00a0042<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31935 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.94pt\"></span></span><span class=\"ps3444\">659<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31937 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.52pt\"></span></span><span class=\"ps31936\">7\u00a0740<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et d\u00e9pr\u00e9ciations cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31939 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.03pt\"></span></span><span class=\"ps31938\">(422)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30910 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">(259)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31941 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.25pt\"></span></span><span class=\"ps31940\">(3\u00a0625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13846 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.44pt\"></span></span><span class=\"ps26201\">(377)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31942 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.26pt\"></span></span><span class=\"ps31145\">(4\u00a0683)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31943 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.23pt\"></span></span><span class=\"ps25887\">61<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30917 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.1pt\"></span></span><span class=\"ps31944\">297<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31945 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.65pt\"></span></span><span class=\"ps28885\">2\u00a0417<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31947 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.15pt\"></span></span><span class=\"ps31946\">282<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31948 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.43pt\"></span></span><span class=\"ps18605\">3\u00a0057<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31949 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.03pt\"></span></span><span class=\"ps22206\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30926 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31951 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.13pt\"></span></span><span class=\"ps31950\">1\u00a0045<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31952 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31954 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.23pt\"></span></span><span class=\"ps31953\">1\u00a0089<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31955 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30936 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31957 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.36pt\"></span></span><span class=\"ps31956\">(66)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31958 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">(48)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31960 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.38pt\"></span></span><span class=\"ps31959\">(114)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10294 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31962 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.67pt\"></span></span><span class=\"ps31961\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31963 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31964 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">(625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31966 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.7pt\"></span></span><span class=\"ps31965\">(36)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31967 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.66pt\"></span></span><span class=\"ps9430\">(727)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps19787 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31968 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31969 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31971 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.16pt\"></span></span><span class=\"ps31970\">39<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31973 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.26pt\"></span></span><span class=\"ps31972\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31974 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.75pt\"></span></span><span class=\"ps25647\">33<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10037 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31976 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.72pt\"></span></span><span class=\"ps31975\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31977 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31978 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.99pt\"></span></span><span class=\"ps31436\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31979 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.72pt\"></span></span><span class=\"ps31975\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31981 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.47pt\"></span></span><span class=\"ps31980\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8283 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31982 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.13pt\"></span></span><span class=\"ps29950\">74<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31983 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.66pt\"></span></span><span class=\"ps31858\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31984 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.34pt\"></span></span><span class=\"ps31462\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31985 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.34pt\"></span></span><span class=\"ps31861\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31986 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:4.67pt\">C</span><span class=\"f charStyle-776a1ec6 ps29369\" style=\"width:126.37pt\">omprend principalement les actifs de </span><span class=\"f charStyle-28cb5f66 ps31988\" style=\"width:336.08pt\"><span style=\"background-color:inherit\">l'activit\u00e9 de capteurs automobiles permettant les mesures de temp\u00e9rature, de pression et de position</span></span><span class=\"f charStyle-28cb5f66 ps458\" style=\"width:1.7pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps31991 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-28cb5f66 ps269\" style=\"width:132.36pt\"><span style=\"background-color:inherit\">de tous types de syst\u00e8mes de propulsion</span></span><span class=\"f charStyle-776a1ec6 ps31990\" style=\"width:204.21pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2024.</span></div><div class=\"ps31996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.44pt\">En </span><span class=\"f charStyle-165dec60 ps31992\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31993\" style=\"width:6.95pt\">, </span><span class=\"f charStyle-68ecf294 ps31994\" style=\"width:268.47pt\"><span style=\"background-color:inherit\">Valeo a comptabilis\u00e9 des pertes de valeur significatives suite \u00e0 </span></span><span class=\"f charStyle-165dec60 ps31995\" style=\"width:172.67pt\">des annulations de contrats en phase de</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps31997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.25pt\">d\u00e9veloppement pour lesquelles le Groupe a obtenu des compensations de ses clients. Les pertes de valeur constat\u00e9es en 2024</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:259.12pt\">\u00e9taient elles aussi principalement li\u00e9es \u00e0 des annulations de contrats.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-495": {
   "value": "<div class=\"ps31710 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note\u00a0<span id=\"i5de67417060d45e79b97f37df820e544\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">7<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps11690\"><span style=\"display:inline-block;height:13.55pt;width:36.3pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Immobilisations</span><span class=\"f charStyle-26f8f9e5 ps31709\"> incorporelles et corporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.3<span id=\"i48de19078e4e4a458547276cbfd724bf_8135\"></span><span id=\"i5de0dab41b7c42ec9e89095dab7da4f3\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps32000\"><span style=\"display:inline-block;height:10.16pt;width:27.05pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Immobilisations corporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations corporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Ce co\u00fbt inclut les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9penses qui sont directement li\u00e9es \u00e0 l\u2019acquisition du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62pt\">bien et le co\u00fbt </span><span class=\"f charStyle-9206869b ps32002\" style=\"width:155.92pt\">estim\u00e9 de l\u2019obligation de remise en \u00e9tat</span><span class=\"f charStyle-9206869b ps410\" style=\"width:1.9pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.96pt\">d\u2019une partie de l\u2019actif le cas \u00e9ch\u00e9ant. Les immobilisations</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:77.79pt\">corporelles acquises</span><span class=\"f charStyle-165dec60 ps20531\" style=\"width:28.09pt\"> dans <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps12028\" style=\"width:112.1pt\">le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:131.54pt\">d\u2019entreprises sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32003\" style=\"width:86.42pt\"> \u00e0 leur juste valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:59.85pt\">s\u00e9par\u00e9ment du </span><span class=\"f charStyle-e8054d08 ps32004\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32005\" style=\"width:1.59pt\">.</span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.98pt\">Post\u00e9rieurement \u00e0 la comptabilisation initiale, les</span><span class=\"f charStyle-6e7624cd ps431\" style=\"width:1.72pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:53.26pt\">immobilisation</span><span class=\"f charStyle-4177ffd9 ps32006\" style=\"width:8.87pt\">s </span><span class=\"f charStyle-165dec60 ps32007\" style=\"width:155.84pt\">corporelles sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diminu\u00e9 du cumul des amortissements et des pertes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">de\u00a0valeur constat\u00e9es. Les r\u00e9\u00e9valuations significatives,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:118.35pt\">pratiqu\u00e9es conform\u00e9ment aux </span><span class=\"f charStyle-81f42323 ps32008\" style=\"width:99.63pt\">dispositions r\u00e9glementaires</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:117.76pt\">des pays dans lesquels le Group</span><span class=\"f charStyle-5064d44f ps32009\" style=\"width:7.18pt\">e <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32010\" style=\"width:93.01pt\">op\u00e8re, ont \u00e9t\u00e9 \u00e9limin\u00e9es</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">pour assurer l\u2019homog\u00e9n\u00e9it\u00e9 de l\u2019ensemble des valeurs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:138.04pt\">immobilis\u00e9es \u00e0 l\u2019int\u00e9rieur du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps7320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.98pt\">Les d\u00e9penses ult\u00e9rieures sur immobilisations sont</span><span class=\"f charStyle-5d6922b3 ps431\" style=\"width:1.66pt\"> </span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:52.7pt\">comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32011\" style=\"width:165.25pt\"> en charges lorsqu\u2019elles sont encourues,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">sauf celles engag\u00e9es pour prolonger la dur\u00e9e de vie du</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.28pt\">bien.</span></div><div class=\"ps4982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les immobilisations corporelles font l\u2019objet d\u2019un test de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span></div><div class=\"ps32012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dur\u00e9e et m\u00e9thode d\u2019amortissement<span class=\"f ps53\"> </span><span id=\"i01d151d0c943432c8366ce9cda96fc24\"></span></span></div><div class=\"ps2615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les immobilisations corporelles, \u00e0 l\u2019exception des terrains,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2617 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:217.99pt\">sont amorties, selon l\u2019approche par composant, sur leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps412\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:21.78pt\">dur\u00e9e</span><span class=\"f charStyle-165dec60 ps32013\" style=\"width:79.44pt\"> d\u2019utilisation estim\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps2654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.94pt\">Les amortissements sont calcul\u00e9s selon la m\u00e9thode</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:28.63pt\">lin\u00e9aire,</span><span class=\"f charStyle-165dec60 ps32014\" style=\"width:147.8pt\"> en fonction de ces dur\u00e9es d\u2019utilisation\u00a0:</span></div><div class=\"ps32021 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2004 ws0 ps16265\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:170.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:51.43pt\">constructions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32016 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32015\">20 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps513 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:147.6pt\">agencements et installations g\u00e9n\u00e9rales</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32017 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps16602\">8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps519 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:138.23pt\">mat\u00e9riels et \u00e9quipements industriels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32019 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32018\">8 \u00e0 15 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps10356 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:129.33pt\">autres immobilisations corporelles</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32020 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps10066\">3 \u00e0 8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Outillages<span class=\"f ps53\"> </span><span id=\"ica3c0187ffe3443986d615323c7979f8\"></span></span></div><div class=\"ps32023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">En fonction de leur nature, les outillages sp\u00e9cifiques \u00e0 un</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">projet font l\u2019objet d\u2019une analyse de la relation</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">contractuelle avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:49.8pt\">contr\u00f4le de </span><span class=\"f charStyle-5064d44f ps27682\" style=\"width:168.13pt\">l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-5064d44f ps16299\" style=\"width:1.89pt\"> </span></div><div class=\"ps32027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:63.87pt\">sont immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps17770\" style=\"width:154.06pt\"> dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps13338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:91.19pt\">Groupe lorsque ce </span><span class=\"f charStyle-9c680f66 ps32028\" style=\"width:126.79pt\">contr\u00f4le revient \u00e0 Valeo ou</span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:130.72pt\">comptabilis\u00e9s en stocks (jusqu\u2019au</span><span class=\"f charStyle-165dec60 ps32029\" style=\"width:87.22pt\"> transfert de contr\u00f4le)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.53pt\">dans le cas contraire.<span class=\"f ps53\"> </span></span></div><div class=\"ps27020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:217.96pt\">Les \u00e9ventuels financements re\u00e7us des clients sur les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:40.15pt\">outillages <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32032\" style=\"width:177.8pt\">immobilis\u00e9s sont comptabilis\u00e9s au passif de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">l\u2019\u00e9tat de la situation financi\u00e8re et sont rapport\u00e9s au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.07pt\">compte de r\u00e9sultat </span><span class=\"f charStyle-81f42323 ps32033\" style=\"width:139.89pt\">en chiffre d\u2019affaires au m\u00eame rythme</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.03pt\">que les amortissements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32035\" style=\"width:49.84pt\"> de ces biens.</span></div><div class=\"ps27024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les outillages sont amortis selon la m\u00e9thode lin\u00e9aire sur</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps27025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:2.01pt\">l</span><span class=\"f charStyle-b2f078f6 ps32037\" style=\"width:215.94pt\">eur dur\u00e9e d\u2019utilisation estim\u00e9e, soit quatre ans au</span><span class=\"f charStyle-b2f078f6 ps16281\" style=\"width:1.83pt\"> </span></div><div class=\"ps27026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:39.87pt\">maximum.</span></div><div class=\"ps32038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Cr\u00e9dits d\u2019imp\u00f4t<span id=\"i21fd0949f90e4fcbb7ca8ce38d28b671\"></span></span></div><div class=\"ps17818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:217.96pt\">Dans certains pays, l\u2019\u00c9tat peut contribuer \u00e0 l\u2019effort</span><span class=\"f charStyle-5d6922b3 ps16295\" style=\"width:1.66pt\"> </span></div><div class=\"ps17110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:60.58pt\">d\u2019investissement </span><span class=\"f charStyle-165dec60 ps32039\" style=\"width:157.37pt\">du Groupe sous forme de cr\u00e9dits d\u2019imp\u00f4t.</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Une analyse de l\u2019aide re\u00e7ue est effectu\u00e9e afin de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps32040 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">d\u00e9terminer si elle entre dans le champ d\u2019application de la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le r\u00e9sultat\u00a0\u00bb ou si elle doit \u00eatre</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">consid\u00e9r\u00e9e comme une subvention publique. Dans ce</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">dernier cas, le cr\u00e9dit d\u2019imp\u00f4t sera reconnu au r\u00e9sultat sur</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">la p\u00e9riode d\u2019amortissement des actifs sous-jacents</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:200.67pt\">comme une r\u00e9duction de la charge d\u2019amortissement.</span></div><div class=\"ps20266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:233.48pt\">Les immobilisations corporelles se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps32063 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss518\"><div><div class=\"ps509 ss28\"><span class=\"f charStyle-6bef0edd ps30403\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1991\"><div><div class=\"ps16333 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30405 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps27335\">Valeur brute<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30407 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps22454\">Amortissements<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps11159\">et d\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps24121 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31794 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.49pt\"></span></span><span class=\"ps28430\">269<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31795 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31797 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.88pt\"></span></span><span class=\"ps30068\">248<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31798 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.13pt\"></span></span><span class=\"ps32042\">281<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31799 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.39pt\"></span></span><span class=\"ps32043\">2\u00a0855<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31801 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.99pt\"></span></span><span class=\"ps32044\">(1\u00a0789)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31803 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.12pt\"></span></span><span class=\"ps25690\">1\u00a0066<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31805 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.68pt\"></span></span><span class=\"ps32045\">1\u00a0088<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Mat\u00e9riels et \u00e9quipements industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31807 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.68pt\"></span></span><span class=\"ps30554\">10\u00a0389<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31809 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.36pt\"></span></span><span class=\"ps30363\">(7\u00a0719)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31811 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.72pt\"></span></span><span class=\"ps32046\">2\u00a0670<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31812 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.73pt\"></span></span><span class=\"ps25912\">2\u00a0974<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Outillages sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31813 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.06pt\"></span></span><span class=\"ps32047\">2\u00a0628<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31815 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.54pt\"></span></span><span class=\"ps32048\">(2\u00a0211)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31817 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.8pt\"></span></span><span class=\"ps32049\">417<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31818 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.91pt\"></span></span><span class=\"ps28204\">483<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Autres immobilisations corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32050 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.91pt\"></span></span><span class=\"ps28204\">843<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32052 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.82pt\"></span></span><span class=\"ps32051\">(586)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32053 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.96pt\"></span></span><span class=\"ps5499\">257<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32054 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.09pt\"></span></span><span class=\"ps31804\">260<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Immobilisations en cours<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32055 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32056 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32057 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32058 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps23036 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">IMMOBILISATIONS CORPORELLES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32060 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.55pt\"></span></span><span class=\"ps32059\">16\u00a0993<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32062 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.53pt\"></span></span><span class=\"ps32061\">(12\u00a0326)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30527 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.97pt\"></span></span><span class=\"ps30761\">4\u00a0667<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30528 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.48pt\"></span></span><span class=\"ps26334\">5\u00a0102<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:300.64pt\">Certaines immobilisations corporelles peuvent faire l\u2019objet de nantissements au </span><span class=\"f charStyle-165dec60 ps32064\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps32065\" style=\"width:14.73pt\"> (cf. </span><span class=\"f charStyle-165dec60 ps32066\" style=\"width:36.4pt\">Note 7.5.2</span><span class=\"f charStyle-165dec60 ps32067\" style=\"width:42.17pt\">, page 422).</span></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:236.26pt\">Les variations des immobilisations corporelles sur les exercices </span><span class=\"f charStyle-165dec60 ps32068\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32069\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps32070\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32071\" style=\"width:101.68pt\"> sont analys\u00e9es ci-dessous\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps16503 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i5cf64fca530f4af0a9b624d0a3b7246c\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps16525 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:35.25pt\"></td><td style=\"padding:0;width:57pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2006\"><div><div class=\"ps24204 ss2005\"><span class=\"f charStyle-221f72ac ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32072 ss2007\"><div><div class=\"ps24204 ss1082\"><span class=\"f charStyle-2d71864b ps13665\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32073 ss2008\"><div><div class=\"ps24204 ss362\"><span class=\"f charStyle-2d71864b ps10263\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3344 ss2009\"><div><div class=\"ps24208 ss360\"><span class=\"f charStyle-2d71864b ps14557\">Mat\u00e9riels et <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss360\"><span class=\"f charStyle-2d71864b ps32074\">\u00e9quipements </span></div><div class=\"ps24204 ss360\"><span class=\"f charStyle-2d71864b ps32075\">industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32076 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps19761\">Outillages<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps29225\">sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32078 ss2010\"><div><div class=\"ps24208 ss696\"><span class=\"f charStyle-2d71864b ps31922\">Autres<span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss696\"><span class=\"f charStyle-2d71864b ps3526\">immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss696\"><span class=\"f charStyle-2d71864b ps32077\">corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30900 ss2010\"><div><div class=\"ps24203 ss696\"><span class=\"f charStyle-2d71864b ps16681\">Immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss696\"><span class=\"f charStyle-2d71864b ps32079\">en cours<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32080 ss2007\"><div><div class=\"ps24204 ss1082\"><span class=\"f charStyle-d606841d ps16735\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24136 ss2011\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE </span></div><div class=\"ps18922 ss2005\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU 1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER\u00a0</sup></span><span class=\"f charStyle-3f403986 ps32082\">JANVIER 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32083 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.22pt\"></span></span><span class=\"ps3568\">303<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32085 ss363\"><div><div class=\"ps523 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.22pt\"></span></span><span class=\"ps32084\">2\u00a0856<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32086 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.54pt\"></span></span><span class=\"ps29993\">10\u00a0659<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32088 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.99pt\"></span></span><span class=\"ps32087\">2\u00a0720<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32089 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.01pt\"></span></span><span class=\"ps26413\">859<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32091 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.48pt\"></span></span><span class=\"ps32090\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32092 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:6.94pt\"></span></span><span class=\"ps10651\">17\u00a0413<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10256 ss2013\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-044fe383 ps10\">Amortissements </span></div><div class=\"ps748 ss2005\"><span class=\"f charStyle-044fe383 ps10\">et\u00a0d\u00e9pr\u00e9ciations\u00a0cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32093 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.23pt\"></span></span><span class=\"ps16426\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32095 ss2014\"><div><div class=\"ps516 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.07pt\"></span></span><span class=\"ps32094\">(1\u00a0768)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32096 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.28pt\"></span></span><span class=\"ps14722\">(7\u00a0685)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32098 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.14pt\"></span></span><span class=\"ps32097\">(2\u00a0237)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32100 ss1229\"><div><div class=\"ps516 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.37pt\"></span></span><span class=\"ps32099\">(599)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32102 ss1229\"><div><div class=\"ps516 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32104 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.2pt\"></span></span><span class=\"ps32103\">(12\u00a0311)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2011\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE </span></div><div class=\"ps18922 ss2005\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU 1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps12742\">JANVIER 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32107 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.88pt\"></span></span><span class=\"ps32106\">281<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32109 ss363\"><div><div class=\"ps523 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.89pt\"></span></span><span class=\"ps32108\">1\u00a0088<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32111 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.57pt\"></span></span><span class=\"ps32110\">2\u00a0974<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32112 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.14pt\"></span></span><span class=\"ps9725\">483<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32113 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.91pt\"></span></span><span class=\"ps15978\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30931 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.48pt\"></span></span><span class=\"ps32090\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32114 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.16pt\"></span></span><span class=\"ps20753\">5\u00a0102<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17407 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32116 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.41pt\"></span></span><span class=\"ps32115\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32118 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.22pt\"></span></span><span class=\"ps32117\">185<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32119 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.66pt\"></span></span><span class=\"ps25708\">623<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32120 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.07pt\"></span></span><span class=\"ps32094\">131<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32122 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.02pt\"></span></span><span class=\"ps32121\">123<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32124 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.49pt\"></span></span><span class=\"ps32123\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32126 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.46pt\"></span></span><span class=\"ps32125\">1\u00a0071<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23552 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32128 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32130 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.53pt\"></span></span><span class=\"ps32129\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32132 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.57pt\"></span></span><span class=\"ps32131\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32134 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.99pt\"></span></span><span class=\"ps32133\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32135 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32136 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32137 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.61pt\"></span></span><span class=\"ps28834\">(69)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29051 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32139 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32141 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.23pt\"></span></span><span class=\"ps32140\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32142 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.28pt\"></span></span><span class=\"ps31445\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32144 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32145 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32146 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32147 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24097 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32149 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.49pt\"></span></span><span class=\"ps32148\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32150 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.69pt\"></span></span><span class=\"ps25828\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32151 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.42pt\"></span></span><span class=\"ps31388\">(62)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32153 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.67pt\"></span></span><span class=\"ps32152\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32155 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.48pt\"></span></span><span class=\"ps32154\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32156 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32158 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.76pt\"></span></span><span class=\"ps32157\">(67)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23403 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32159 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.51pt\"></span></span><span class=\"ps31429\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32161 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.81pt\"></span></span><span class=\"ps32160\">(176)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32162 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.48pt\"></span></span><span class=\"ps28687\">(687)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32163 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.17pt\"></span></span><span class=\"ps9848\">(174)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32165 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.73pt\"></span></span><span class=\"ps32164\">(83)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32166 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32168 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.9pt\"></span></span><span class=\"ps32167\">(1\u00a0123)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14422 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32170 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.47pt\"></span></span><span class=\"ps32169\">(16)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32171 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.48pt\"></span></span><span class=\"ps31434\">(38)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32172 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.07pt\"></span></span><span class=\"ps28704\">(135)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32174 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.28pt\"></span></span><span class=\"ps32173\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32176 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.33pt\"></span></span><span class=\"ps32175\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32178 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.03pt\"></span></span><span class=\"ps32177\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32180 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.98pt\"></span></span><span class=\"ps32179\">(222)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22944 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32182 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.94pt\"></span></span><span class=\"ps32181\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32184 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.68pt\"></span></span><span class=\"ps32183\">19<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32186 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.28pt\"></span></span><span class=\"ps32185\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32187 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.13pt\"></span></span><span class=\"ps28983\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32189 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.55pt\"></span></span><span class=\"ps32188\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32191 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.32pt\"></span></span><span class=\"ps32190\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32192 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.47pt\"></span></span><span class=\"ps32169\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32194 ss2011\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE </span></div><div class=\"ps18922 ss2005\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU <span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32193\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32195 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.66pt\"></span></span><span class=\"ps11174\">248<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32196 ss363\"><div><div class=\"ps523 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.25pt\"></span></span><span class=\"ps25403\">1\u00a0066<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32197 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.64pt\"></span></span><span class=\"ps5388\">2\u00a0670<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32198 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.94pt\"></span></span><span class=\"ps6487\">417<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32200 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.66pt\"></span></span><span class=\"ps32199\">257<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32202 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.42pt\"></span></span><span class=\"ps32201\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32204 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.72pt\"></span></span><span class=\"ps32203\">4\u00a0667<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:119.57pt\">Comprend principalement les actifs </span><span class=\"f charStyle-776a1ec6 ps31927\" style=\"width:105.2pt\">des activit\u00e9s d'\u00e9clairage en Inde</span><span class=\"f charStyle-776a1ec6 ps31928\" style=\"width:203.59pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2025.</span></div><div class=\"ps32206 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i7ce544499e3f4be5b0220f534ff6a490\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps32265 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:58.5pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2017\"><div><div class=\"ps24204 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32207 ss2007\"><div><div class=\"ps24204 ss1082\"><span class=\"f charStyle-2d71864b ps13665\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30404 ss2018\"><div><div class=\"ps24204 ss1586\"><span class=\"f charStyle-2d71864b ps23167\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3344 ss2009\"><div><div class=\"ps24208 ss360\"><span class=\"f charStyle-2d71864b ps14557\">Mat\u00e9riels et <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss360\"><span class=\"f charStyle-2d71864b ps32074\">\u00e9quipements</span></div><div class=\"ps24204 ss360\"><span class=\"f charStyle-2d71864b ps32075\">industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32076 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps19761\">Outillages<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps29225\">sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32078 ss2010\"><div><div class=\"ps24208 ss696\"><span class=\"f charStyle-2d71864b ps31922\">Autres<span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss696\"><span class=\"f charStyle-2d71864b ps3526\">immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss696\"><span class=\"f charStyle-2d71864b ps32077\">corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30900 ss2010\"><div><div class=\"ps24203 ss696\"><span class=\"f charStyle-2d71864b ps16681\">Immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss696\"><span class=\"f charStyle-2d71864b ps32079\">en cours<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32080 ss2007\"><div><div class=\"ps24204 ss1082\"><span class=\"f charStyle-d606841d ps16735\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24136 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE </span></div><div class=\"ps18922 ss762\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU 1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps12742\">JANVIER 2024</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32209 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.89pt\"></span></span><span class=\"ps32208\">309<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32211 ss1587\"><div><div class=\"ps523 ss1586\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.37pt\"></span></span><span class=\"ps32210\">2\u00a0752<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32086 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.09pt\"></span></span><span class=\"ps32212\">10\u00a0210<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32088 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.79pt\"></span></span><span class=\"ps32213\">2\u00a0617<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32089 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.03pt\"></span></span><span class=\"ps32214\">839<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32091 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.12pt\"></span></span><span class=\"ps1882\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32092 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:5.09pt\"></span></span><span class=\"ps32215\">16\u00a0754<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10256 ss2020\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Amortissements </span></div><div class=\"ps748 ss762\"><span class=\"f charStyle-044fe383 ps10\">et\u00a0d\u00e9pr\u00e9ciations\u00a0cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32216 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.23pt\"></span></span><span class=\"ps16426\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32217 ss1600\"><div><div class=\"ps516 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.73pt\"></span></span><span class=\"ps6886\">(1\u00a0682)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32096 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.38pt\"></span></span><span class=\"ps32218\">(7\u00a0163)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32098 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.82pt\"></span></span><span class=\"ps32219\">(2\u00a0221)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32100 ss1229\"><div><div class=\"ps516 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.37pt\"></span></span><span class=\"ps32099\">(599)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32102 ss1229\"><div><div class=\"ps516 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.48pt\"></span></span><span class=\"ps32154\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32104 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:5.47pt\"></span></span><span class=\"ps16750\">(11\u00a0689)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE </span></div><div class=\"ps18922 ss762\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU 1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps12742\">JANVIER 2024</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32220 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.17pt\"></span></span><span class=\"ps11354\">287<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32221 ss1587\"><div><div class=\"ps523 ss1586\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">1\u00a0070<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32111 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.23pt\"></span></span><span class=\"ps32222\">3\u00a0047<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32112 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.71pt\"></span></span><span class=\"ps32223\">396<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32113 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.52pt\"></span></span><span class=\"ps32224\">240<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30931 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.31pt\"></span></span><span class=\"ps32225\">25<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32114 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.29pt\"></span></span><span class=\"ps32226\">5\u00a0065<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17407 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32227 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.41pt\"></span></span><span class=\"ps32115\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32229 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.4pt\"></span></span><span class=\"ps32228\">186<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32119 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.76pt\"></span></span><span class=\"ps32230\">706<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32120 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.7pt\"></span></span><span class=\"ps9128\">208<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32122 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.58pt\"></span></span><span class=\"ps31644\">140<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32124 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.97pt\"></span></span><span class=\"ps32231\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32126 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.34pt\"></span></span><span class=\"ps32232\">1\u00a0251<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23552 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32234 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.03pt\"></span></span><span class=\"ps32233\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32236 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.74pt\"></span></span><span class=\"ps32235\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32132 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.03pt\"></span></span><span class=\"ps32237\">(24)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32134 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.01pt\"></span></span><span class=\"ps32238\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32135 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32136 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.17pt\"></span></span><span class=\"ps1992\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32137 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.22pt\"></span></span><span class=\"ps28094\">(46)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29051 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32239 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32241 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.94pt\"></span></span><span class=\"ps32240\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32142 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32144 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32145 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32146 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32147 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24097 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32242 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32244 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.74pt\"></span></span><span class=\"ps32243\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32151 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.03pt\"></span></span><span class=\"ps32237\">(50)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32153 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32155 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.48pt\"></span></span><span class=\"ps32154\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32156 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32158 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.79pt\"></span></span><span class=\"ps32245\">(51)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23403 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32247 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.48pt\"></span></span><span class=\"ps32246\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32248 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.46pt\"></span></span><span class=\"ps16839\">(177)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32162 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.79pt\"></span></span><span class=\"ps25328\">(728)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32163 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.01pt\"></span></span><span class=\"ps32249\">(160)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32165 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.08pt\"></span></span><span class=\"ps32250\">(75)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32166 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32168 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.17pt\"></span></span><span class=\"ps32251\">(1\u00a0142)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14422 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32252 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.78pt\"></span></span><span class=\"ps13116\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32253 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.03pt\"></span></span><span class=\"ps24079\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32172 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.17pt\"></span></span><span class=\"ps32254\">60<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32174 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.13pt\"></span></span><span class=\"ps28983\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32176 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32178 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32180 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">69<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22944 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32256 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.32pt\"></span></span><span class=\"ps32255\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32257 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.88pt\"></span></span><span class=\"ps28579\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32186 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.6pt\"></span></span><span class=\"ps32258\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32187 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.91pt\"></span></span><span class=\"ps25984\">36<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32189 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.95pt\"></span></span><span class=\"ps32259\">(39)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32191 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.51pt\"></span></span><span class=\"ps32260\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32192 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.83pt\"></span></span><span class=\"ps32261\">(44)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32194 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE </span></div><div class=\"ps18922 ss762\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU <span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32193\">31\u00a0D\u00c9CEMBRE 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32262 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.88pt\"></span></span><span class=\"ps32106\">281<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32264 ss1587\"><div><div class=\"ps523 ss1586\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.39pt\"></span></span><span class=\"ps32263\">1\u00a0088<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32197 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.57pt\"></span></span><span class=\"ps32110\">2\u00a0974<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32198 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.14pt\"></span></span><span class=\"ps9725\">483<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32200 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.91pt\"></span></span><span class=\"ps15978\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32202 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.48pt\"></span></span><span class=\"ps32090\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32204 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.16pt\"></span></span><span class=\"ps20753\">5\u00a0102<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:131.04pt\">Comprend principalement les actifs de </span><span class=\"f charStyle-28cb5f66 ps31988\" style=\"width:336.08pt\"><span style=\"background-color:inherit\">l'activit\u00e9 de capteurs automobiles permettant les mesures de temp\u00e9rature, de pression et de position</span></span><span class=\"f charStyle-28cb5f66 ps458\" style=\"width:1.7pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps32267 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-28cb5f66 ps269\" style=\"width:132.36pt\"><span style=\"background-color:inherit\">de tous types de syst\u00e8mes de propulsion</span></span><span class=\"f charStyle-776a1ec6 ps31990\" style=\"width:204.21pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2024.</span></div><div class=\"ps20087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.72pt\">En </span><span class=\"f charStyle-165dec60 ps32268\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32269\" style=\"width:4.23pt\">, </span><span class=\"f charStyle-68ecf294 ps32270\" style=\"width:241.27pt\"><span style=\"background-color:inherit\">Valeo a comptabilis\u00e9 des pertes de valeur significatives suite \u00e0 </span></span><span class=\"f charStyle-165dec60 ps1481\" style=\"width:205.33pt\">des annulations de contrats et des fins de production</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps20088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">anticip\u00e9es pour lesquelles le Groupe a obtenu des compensations de ses clients. Les pertes de valeur constat\u00e9es en 2024 \u00e9taient</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:227.86pt\">\u00e9galement principalement li\u00e9es des annulations de contrats.</span></div></div><div class=\"ps16277 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Contrats de location<span id=\"ib1b6a101f995466e83fe16d9fc13177c\"></span></span></div><div class=\"ps16279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Le preneur d\u2019un contrat de location entrant dans le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps16282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.47pt\">champ d'application de la norme IFRS 16 </span><span class=\"f charStyle-165dec60 ps32272\" style=\"width:7.07pt\">\u00ab </span><span class=\"f charStyle-165dec60 ps32273\" style=\"width:45.43pt\">Contrats de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7846 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.13pt\">location </span><span class=\"f charStyle-165dec60 ps17497\" style=\"width:3.57pt\">\u00bb<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps2684\" style=\"width:43.16pt\">, reconna\u00eet\u00a0:</span></div><div class=\"ps27722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">une dette financi\u00e8re repr\u00e9sentative de l\u2019obligation de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">payer ce droit au passif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:83.42pt\">financi\u00e8re consolid\u00e9e\u00a0;</span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">un actif non courant repr\u00e9sentatif du droit d\u2019utilisation du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:16.09pt\">bien</span><span class=\"f charStyle-81f42323 ps32274\" style=\"width:4.39pt\"> </span><span class=\"f charStyle-165dec60 ps32275\" style=\"width:191.76pt\">lou\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:44.06pt\">consolid\u00e9e\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">des dotations aux amortissements des droits</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019utilisation et des charges d\u2019int\u00e9r\u00eats sur les dettes de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.87pt\">location au compte de r\u00e9sultat consolid\u00e9.<span class=\"f ps53\"> </span></span></div><div class=\"ps32278 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dette sur biens lou\u00e9s<span id=\"ida15cfec94a24ee48d3868e3d88f44c5\"></span></span></div><div class=\"ps32279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">\u00c0 la date de prise d\u2019effet du contrat de location, la dette</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">sur biens lou\u00e9s est comptabilis\u00e9e pour un montant \u00e9gal \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la valeur actualis\u00e9e des paiements minimaux non encore</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps16300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">vers\u00e9s ainsi que des paiements li\u00e9s aux options que le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.43pt\">preneur a la certitude raisonnable d\u2019exercer.<span class=\"f ps53\"> </span></span></div><div class=\"ps32282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La dur\u00e9e du contrat retenue pour calculer la dette de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps32283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">location est d\u00e9termin\u00e9e suite \u00e0 l\u2019analyse \u00e9conomique des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">\u00e9ventuelles options de r\u00e9siliation anticip\u00e9e, d\u2019extension,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de renouvellement et d\u2019achat de l\u2019actif sous-jacent,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:167.6pt\">incluses dans la dur\u00e9e ex\u00e9cutoire du contrat.</span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Ce montant est ensuite \u00e9valu\u00e9 au co\u00fbt amorti en utilisant</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la m\u00e9thode du taux d\u2019int\u00e9r\u00eat effectif. Il est d\u2019une part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">augment\u00e9 pour prendre en compte les int\u00e9r\u00eats dus au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">titre du passif locatif et d\u2019autre part diminu\u00e9 des loyers</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:23.34pt\">pay\u00e9s.</span></div><div class=\"ps2760 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s \u00e0 partir du taux</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2761 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019endettement marginal du Groupe auquel est ajout\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.7pt\">une </span><span class=\"f charStyle-53279637 ps32284\" style=\"width:196.26pt\">marge pour tenir compte des environnements</span><span class=\"f charStyle-53279637 ps608\" style=\"width:1.85pt\"> </span></div><div class=\"ps2763 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32285\" style=\"width:167.67pt\"> sp\u00e9cifiques \u00e0 chaque pays, de la devise et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:85.26pt\">de la dur\u00e9e du contrat.</span></div><div class=\"ps32286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Droit d\u2019utilisation<span id=\"i08ce7ec2d6b0406b8b84eba8aeb01f18\"></span></span></div><div class=\"ps20022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00c0 la date de prise d\u2019effet du contrat de location, le droit</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps20023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">d\u2019utilisation est \u00e9valu\u00e9 \u00e0 son co\u00fbt et comprend (i) le montant</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">initial de la dette auquel sont ajout\u00e9s, s\u2019il y a lieu, (ii) les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">paiements d\u2019avance faits au loueur, nets le cas \u00e9ch\u00e9ant,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps16181 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des avantages re\u00e7us du bailleur, (iii) les co\u00fbts directs</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20029 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initiaux encourus par le preneur pour la conclusion du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps20030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">contrat ainsi que (iv) l\u2019estimation des co\u00fbts de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9mant\u00e8lement ou de remise en \u00e9tat du bien lou\u00e9 selon</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.99pt\">les termes du contrat.</span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Ce montant est ensuite diminu\u00e9 des amortissements et</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20.98pt\">des p</span><span class=\"f charStyle-c709af45 ps32287\" style=\"width:196.97pt\">ertes de valeur constat\u00e9s. Les droits d\u2019utilisation sont</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:28.15pt\">amortis</span><span class=\"f charStyle-165dec60 ps32288\" style=\"width:189.84pt\"> selon la m\u00e9thode lin\u00e9aire. Les agencements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">indissociables des biens lou\u00e9s sont amortis sur la dur\u00e9e la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">plus courte entre la dur\u00e9e du contrat retenue et la dur\u00e9e</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.48pt\">d\u2019utilisation estim\u00e9e.</span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Lorsque le contrat a pour effet de transf\u00e9rer au preneur la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.08pt\">pr</span><span class=\"f charStyle-4afdd138 ps32289\" style=\"width:209.9pt\">opri\u00e9t\u00e9 du bien ou lorsqu\u2019il comprend une option</span><span class=\"f charStyle-4afdd138 ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:27.42pt\">d\u2019achat</span><span class=\"f charStyle-165dec60 ps20602\" style=\"width:190.54pt\">, qui sera exerc\u00e9e avec une certitude raisonnable,</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.55pt\">le droit </span><span class=\"f charStyle-81f42323 ps32290\" style=\"width:188.41pt\">d\u2019utilisation est amorti sur la dur\u00e9e d\u2019utilit\u00e9 de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:38.41pt\">sous-jacen</span><span class=\"f charStyle-165dec60 ps32291\" style=\"width:179.54pt\">t selon les m\u00eames conditions que celles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.02pt\">appliqu\u00e9es aux actifs d</span><span class=\"f charStyle-4afdd138 ps32292\" style=\"width:128.95pt\">\u00e9tenus en propre. Dans les autres</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:105.46pt\">cas, les droits d\u2019utilisation</span><span class=\"f charStyle-165dec60 ps32293\" style=\"width:5.98pt\"> </span><span class=\"f charStyle-c8069515 ps32294\" style=\"width:106.48pt\">sont amortis sur la dur\u00e9e</span><span class=\"f charStyle-c8069515 ps16293\" style=\"width:1.84pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:146.66pt\">d\u2019utilisation raisonnablement certaine</span><span class=\"f charStyle-165dec60 ps32295\" style=\"width:71.32pt\"> des actifs sous-</span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.58pt\">jacents.</span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.99pt\">Par la suite, la dette et le droit d\u2019utilisation de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps2269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:40.97pt\">sous\u2011jacent</span><span class=\"f charStyle-4afdd138 ps32296\" style=\"width:11.47pt\"> d</span><span class=\"f charStyle-367d076b ps32297\" style=\"width:165.5pt\">oivent \u00eatre r\u00e9-estim\u00e9s pour prendre en</span><span class=\"f charStyle-367d076b ps16283\" style=\"width:1.88pt\"> </span></div><div class=\"ps2271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:75.03pt\">compte les situation</span><span class=\"f charStyle-165dec60 ps32298\" style=\"width:44.66pt\">s suivantes\u00a0:</span></div><div class=\"ps2344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:128.78pt\">la r\u00e9vision de la dur\u00e9e de location\u00a0;</span></div><div class=\"ps6665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">toute modification li\u00e9e \u00e0 l\u2019\u00e9valuation du caract\u00e8re</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:70.22pt\">raisonnablement </span><span class=\"f charStyle-73c14ed6 ps32299\" style=\"width:142.09pt\">certain (ou non) de l\u2019exercice d\u2019une</span><span class=\"f charStyle-73c14ed6 ps29662\" style=\"width:1.75pt\"> </span></div><div class=\"ps6431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps26704\" style=\"width:26.47pt\">option\u00a0;</span></div><div class=\"ps6731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:190.18pt\">la r\u00e9-estimation des garanties de valeur r\u00e9siduelle\u00a0;</span></div><div class=\"ps2432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">la r\u00e9vision des taux ou indices sur lesquels sont bas\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2433 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:37.67pt\">les\u00a0loyers ;</span></div><div class=\"ps32300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-7cdc335a ps448\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\">les modifications des montants de loyers.</span></div><div class=\"ps18521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les principales exemptions pr\u00e9vues par la norme et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:158.05pt\">retenues par le Groupe sont les suivantes\u00a0:</span></div><div class=\"ps18435 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:149.33pt\">exclusion des contrats de courte dur\u00e9e\u00a0;</span></div><div class=\"ps18522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps448\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.29pt\">exclusion des contrats portant sur des actifs de faible</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps18437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:23.39pt\">valeur.</span></div><div class=\"ps6619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les loyers relatifs aux contrats de location exclus du</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">champ d'application de la norme IFRS 16 ainsi que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">paiements variables, non pris en compte lors de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">l\u2019\u00e9valuation initiale de la dette, sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps6742 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">charges op\u00e9rationnelles et sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:129.27pt\">nets de tr\u00e9sorerie des activit\u00e9s </span><span class=\"f charStyle-5dca4c00 ps32302\" style=\"width:88.68pt\">op\u00e9rationnelles, dans le</span><span class=\"f charStyle-5dca4c00 ps16281\" style=\"width:1.74pt\"> </span></div><div class=\"ps6744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:141.43pt\">tableau des flux de tr\u00e9sorerie consolid\u00e9s</span><span class=\"f charStyle-165dec60 ps32303\" style=\"width:1.59pt\">.</span></div><div class=\"ps9286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les paiements relatifs aux contrats de location entrants<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">dans le champ d'application de la norme IFRS 16 sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">ventil\u00e9s entre la charge financi\u00e8re et le remboursement</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.36pt\">du principal </span><span class=\"f charStyle-81993cb5 ps7158\" style=\"width:170.59pt\">du passif locatif. Ils sont reconnus dans les flux</span><span class=\"f charStyle-81993cb5 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps21273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:52.64pt\">sur op\u00e9rations</span><span class=\"f charStyle-165dec60 ps14962\" style=\"width:165.35pt\"> de financement, dans le tableau des flux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">tr\u00e9sorerie consolid\u00e9s. La part relative au remboursement</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">du principal du passif locatif est r\u00e9int\u00e9gr\u00e9e dans la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.49pt\">d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps32304\" style=\"width:35.83pt\">cash flow</span><span class=\"f charStyle-165dec60 ps32305\" style=\"width:20.18pt\"> libre.</span></div><div class=\"ps12014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:413.89pt\">L\u2019\u00e9volution des droits d\u2019utilisation pr\u00e9sent\u00e9s parmi les immobilisations corporelles se d\u00e9compose comme suit\u00a0:</span></div><div class=\"ps32390 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:165.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:57pt\"></td><td style=\"padding:0;width:57pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32307 ss2024\"><div><div class=\"ps3341 ss2023\"><span class=\"f charStyle-2d71864b ps32306\">Droits d\u2019utilisation<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps13301 ss2025\"><div><div class=\"ps24204 ss2022\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32309 ss222\"><div><div class=\"ps24204 ss208\"><span class=\"f charStyle-2d71864b ps32308\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32310 ss2008\"><div><div class=\"ps24204 ss362\"><span class=\"f charStyle-2d71864b ps10263\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32312 ss2008\"><div><div class=\"ps24208 ss362\"><span class=\"f charStyle-2d71864b ps14512\">Mat\u00e9riels et <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss362\"><span class=\"f charStyle-2d71864b ps32311\">\u00e9quipements </span></div><div class=\"ps24204 ss362\"><span class=\"f charStyle-2d71864b ps22660\">industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32315 ss2026\"><div><div class=\"ps24203 ss379\"><span class=\"f charStyle-2d71864b ps32313\">Outillages<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss379\"><span class=\"f charStyle-2d71864b ps32314\">sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32317 ss337\"><div><div class=\"ps24208 ss331\"><span class=\"f charStyle-2d71864b ps32316\">Autres<span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss331\"><span class=\"f charStyle-2d71864b ps9738\">immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss331\"><span class=\"f charStyle-2d71864b ps22364\">corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32318 ss2027\"><div><div class=\"ps24204 ss622\"><span class=\"f charStyle-d606841d ps4275\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10356 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32320 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.33pt\"></span></span><span class=\"ps32319\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32322 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.43pt\"></span></span><span class=\"ps32321\">709<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32323 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.75pt\"></span></span><span class=\"ps26242\">140<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32325 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.24pt\"></span></span><span class=\"ps32324\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32327 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.39pt\"></span></span><span class=\"ps32326\">132<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32328 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.51pt\"></span></span><span class=\"ps24829\">1\u00a0010<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et\u00a0d\u00e9pr\u00e9ciations\u00a0cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32329 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.82pt\"></span></span><span class=\"ps30918\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32330 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.08pt\"></span></span><span class=\"ps31852\">(303)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32332 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.46pt\"></span></span><span class=\"ps32331\">(58)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32333 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.95pt\"></span></span><span class=\"ps28803\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32334 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.21pt\"></span></span><span class=\"ps28685\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32336 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.5pt\"></span></span><span class=\"ps32335\">(436)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32338 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.59pt\"></span></span><span class=\"ps32337\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32340 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.92pt\"></span></span><span class=\"ps32339\">406<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32342 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.57pt\"></span></span><span class=\"ps32341\">82<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32343 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32345 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.12pt\"></span></span><span class=\"ps32344\">72<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32347 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.42pt\"></span></span><span class=\"ps32346\">574<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2029\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-cb5f73d2 ps10\">Nouveaux contrats/Renouvellements/</span></div><div class=\"ps748 ss2022\"><span class=\"f charStyle-044fe383 ps10\">Modifications</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32348 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32349 ss2014\"><div><div class=\"ps516 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.58pt\"></span></span><span class=\"ps1838\">127<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32350 ss2014\"><div><div class=\"ps516 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.72pt\"></span></span><span class=\"ps9368\">106<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32351 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32353 ss355\"><div><div class=\"ps516 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.7pt\"></span></span><span class=\"ps32352\">25<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9779 ss1343\"><div><div class=\"ps516 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.93pt\"></span></span><span class=\"ps14421\">264<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32354 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.98pt\"></span></span><span class=\"ps31087\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32356 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.96pt\"></span></span><span class=\"ps32355\">(90)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32357 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.01pt\"></span></span><span class=\"ps28521\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32358 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32359 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.26pt\"></span></span><span class=\"ps25849\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32360 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.17pt\"></span></span><span class=\"ps29227\">(147)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32361 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.53pt\"></span></span><span class=\"ps1045\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32363 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.26pt\"></span></span><span class=\"ps32362\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32365 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.53pt\"></span></span><span class=\"ps32364\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32366 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32368 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.51pt\"></span></span><span class=\"ps32367\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32369 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.83pt\"></span></span><span class=\"ps31590\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Reclassements <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32371 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.47pt\"></span></span><span class=\"ps32370\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32373 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.7pt\"></span></span><span class=\"ps32372\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32375 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.24pt\"></span></span><span class=\"ps32374\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32376 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32378 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.94pt\"></span></span><span class=\"ps32377\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32379 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.98pt\"></span></span><span class=\"ps17199\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23681 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32380 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32382 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.92pt\"></span></span><span class=\"ps32381\">432<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32384 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.81pt\"></span></span><span class=\"ps32383\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32385 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32387 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.26pt\"></span></span><span class=\"ps32386\">64<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32389 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.32pt\"></span></span><span class=\"ps32388\">678<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:85.7pt\">Sur l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps32391\" style=\"width:70.72pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps20996\" style=\"width:324.75pt\">, la charge comptabilis\u00e9e au titre des loyers relatifs aux contrats exclus du champ</span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> </span></div><div class=\"ps4187 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:261.4pt\">d'application de la norme IFRS 16 et des paiements variables s\u2019\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-165dec60 ps32392\" style=\"width:9.9pt\">44</span><span class=\"f charStyle-165dec60 ps32393\" style=\"width:62.53pt\"> millions d\u2019euros.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-494": {
   "value": "<div class=\"ps31710 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note\u00a0<span id=\"i5de67417060d45e79b97f37df820e544\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">7<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps11690\"><span style=\"display:inline-block;height:13.55pt;width:36.3pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Immobilisations</span><span class=\"f charStyle-26f8f9e5 ps31709\"> incorporelles et corporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps31712 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.1<span id=\"i60ab82a57d9346ed8437a399eb5d17ae\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps31711\"><span style=\"display:inline-block;height:10.16pt;width:29.15pt\"></span></span></span><span class=\"f charStyle-1cdc8014 ps408\">Goodwill<span class=\"f ps53\"> </span></span></div><div class=\"ps11949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.56pt\">Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31715\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31716\" style=\"width:311.21pt\"> sont initialement reconnus lors d\u2019un regroupement d\u2019entreprises tel que d\u00e9crit en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31717\" style=\"width:34.64pt\">Note 3.1.3</span><span class=\"f charStyle-165dec60 ps31718\" style=\"width:37.74pt\">, page 391.</span><span class=\"f charStyle-165dec60 ps31719\" style=\"width:1.96pt\"> </span></div><div class=\"ps6537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:458.57pt\">Post\u00e9rieurement \u00e0 leur comptabilisation initiale, ils ne sont pas amortis mais font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation d\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps29741\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31721 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:44.15pt\">l\u2019apparition <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31720\" style=\"width:414.49pt\">d\u2019indices de pertes de valeur et au minimum une fois par an. Les modalit\u00e9s des tests de d\u00e9pr\u00e9ciation r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps11953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.66pt\">sur </span><span class=\"f charStyle-165dec60 ps15725\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:63.98pt\"> sont d\u00e9crites en </span><span class=\"f charStyle-165dec60 ps31722\" style=\"width:31.27pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31723\" style=\"width:63.92pt\">, pages 419 \u00e0 422.</span></div><div class=\"ps31730 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.14pt\">Les variations des </span><span class=\"f charStyle-e8054d08 ps31725\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps30534\" style=\"width:64.44pt\"> sur les exercices </span><span class=\"f charStyle-165dec60 ps31726\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31727\" style=\"width:11.49pt\"> et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31728\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31729\" style=\"width:101.14pt\"> sont d\u00e9taill\u00e9es ci-dessous\u00a0:</span></div><div class=\"ps31733 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps509 ss1864\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\">\u00a0JANVIER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.08pt\"></span></span><span class=\"ps31732\">3\u00a0112<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions de l\u2019exercice<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cession de l'exercice<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.26pt\"></span></span><span class=\"ps18578\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">(98)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.38pt\"></span></span><span class=\"ps31700\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.67pt\"></span></span><span class=\"ps30255\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">2\u00a0986<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dont d\u00e9pr\u00e9ciation au 31 d\u00e9cembre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31736 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.14pt\">La diminution des</span><span class=\"f charStyle-e8054d08 ps31725\" style=\"width:36.29pt\"> goodwill </span><span class=\"f charStyle-165dec60 ps16033\" style=\"width:50.4pt\">sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31734\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31735\" style=\"width:308.66pt\"> s\u2019explique principalement par des effets de change, notamment l\u2019appr\u00e9ciation de</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps18509 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.34pt\">l\u2019euro par rapport au dollar am\u00e9ricain pour 44 millions d\u2019euros, au yen japonais pour 26 millions d\u2019euros et le won cor\u00e9en pour 21</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps18511 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:60.57pt\">millions d\u2019euros.</span></div><div class=\"ps31741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:70.29pt\">La diminution des </span><span class=\"f charStyle-e8054d08 ps31737\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps30561\" style=\"width:52.55pt\"> sur l\u2019exercice </span><span class=\"f charStyle-165dec60 ps31738\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31739\" style=\"width:106.7pt\"> s\u2019expliquait principalement </span><span class=\"f charStyle-165dec60 ps31740\" style=\"width:201.06pt\">par le reclassement en \u00ab Actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s \u00bb</span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> </span></div><div class=\"ps31744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.23pt\">du <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31742\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31743\" style=\"width:436.78pt\"> allou\u00e9 aux activit\u00e9s de capteurs automobiles permettant les mesures de temp\u00e9rature, de pression et de position de</span><span class=\"f charStyle-165dec60 ps8438\" style=\"width:1.96pt\"> </span></div><div class=\"ps22233 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:267.95pt\">tous types de syst\u00e8mes de propulsion pour 28 millions d'euros (cf. Note </span><span class=\"f charStyle-165dec60 ps31745\" style=\"width:15.9pt\">3.2.2</span><span class=\"f charStyle-165dec60 ps31746\" style=\"width:41.75pt\">, page 392).</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.56pt\">Les </span><span class=\"f charStyle-e8054d08 ps7577\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31747\" style=\"width:125.96pt\"> par Division se r\u00e9partissent ainsi\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:24pt\"></td><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\" style=\"font-size:12pt\"><span class=\"f charStyle-f660c20c ps22478\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-f660c20c ps31748\"> </span><span class=\"f charStyle-98a488d5 ps31749\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td rowspan=\"5\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss1934\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">67 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31750 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo POWER</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.37pt\"></span></span><span class=\"ps31751\">2\u00a0011<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.31pt\"></span></span><span class=\"ps31752\">2\u00a0053<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30277 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30278 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">17 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31754 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo BRAIN</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30281 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.23pt\"></span></span><span class=\"ps31755\">523<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30357 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">541<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30283 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-bdbfbd4c ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30284 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">15 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31757 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Division Valeo LIGHT</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30287 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">451<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30360 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.73pt\"></span></span><span class=\"ps31758\">491<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss1934\"><div><div class=\"ps31753 ss1\"><span class=\"f charStyle-5d69291e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss1981\"><div><div class=\"ps17246 ss32\"><span class=\"f charStyle-a696f64a ps10\">1 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31759 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Autres</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30364 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.24pt\"></span></span><span class=\"ps30638\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31760 ss1983\"><div><div class=\"ps17246 ss1982\"><span class=\"f charStyle-6b9b8a9b ps10\">GOODWILL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.91pt\"></span></span><span class=\"ps30213\">2\u00a0986<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10380 ss1941\"><div><div class=\"ps17246 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">3\u00a0086<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31765 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.2<span id=\"ia546a63a4ed7466db05fb3b07b004ddc_2228\"></span><span id=\"i5f8662ec1dee4b6ebbd7b282cf42ecb0\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps31764\"><span style=\"display:inline-block;height:10.16pt;width:27.07pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Autres immobilisations incorporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations incorporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:20.42pt\">sont <span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps31768\" style=\"width:197.52pt\">\u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Les immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:48.32pt\">incorporelles </span><span class=\"f charStyle-165dec60 ps31769\" style=\"width:169.62pt\">acquises dans le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u2019entreprises sont comptabilis\u00e9es \u00e0 leur juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:123.53pt\">s\u00e9par\u00e9ment du goodwill. </span><span class=\"f charStyle-01aaed4f ps31770\" style=\"width:94.46pt\">Post\u00e9rieurement \u00e0 la</span><span class=\"f charStyle-01aaed4f ps412\" style=\"width:1.71pt\"> </span></div><div class=\"ps31772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-01aaed4f ps6588\" style=\"width:164.36pt\">comptabilisation initiale, les immobilisations</span><span class=\"f charStyle-165dec60 ps31771\" style=\"width:53.61pt\"> incorporelles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt diminu\u00e9 du cumul des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">amortissements et des pertes de valeur constat\u00e9es. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">immobilisations incorporelles font l\u2019objet de tests de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14132 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span><span class=\"f charStyle-165dec60 ps31775\" style=\"width:1.96pt\"> </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:217.99pt\">Les frais de d\u00e9veloppement inscrits dans les autres</span><span class=\"f charStyle-4177ffd9 ps412\" style=\"width:1.65pt\"> </span></div><div class=\"ps4908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:55.63pt\">immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5409\" style=\"width:6.61pt\"> </span><span class=\"f charStyle-367d076b ps31776\" style=\"width:155.72pt\">incorporelles de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-367d076b ps608\" style=\"width:1.88pt\"> </span></div><div class=\"ps4909 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:104.84pt\">financi\u00e8re correspondent </span><span class=\"f charStyle-165dec60 ps31777\" style=\"width:113.12pt\">\u00e0 des projets d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sp\u00e9cifique pour les clients, qui reposent sur des standards</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies d\u00e9j\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">appliqu\u00e9es en production. Ces projets font l\u2019objet d\u2019une</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">analyse au cas par cas afin de s\u2019assurer qu\u2019ils r\u00e9pondent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:176.81pt\">bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s en </span><span class=\"f charStyle-165dec60 ps31778\" style=\"width:39.52pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps837\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:66.07pt\">pages 399 et 400.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais encourus avant la d\u00e9cision formelle d\u2019entrer dans</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">le d\u00e9veloppement du produit sont enregistr\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:38.37pt\">charges d<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps31779\" style=\"width:179.6pt\">e la p\u00e9riode. Les frais encourus post\u00e9rieurement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16278\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.75pt\">au d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps31780\" style=\"width:163.21pt\"> de la production en s\u00e9rie sont trait\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">comme des co\u00fbts de production.</span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:217.96pt\">Les immobilisations incorporelles sont amorties selon la</span><span class=\"f charStyle-5dca4c00 ps16295\" style=\"width:1.74pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:33.36pt\">m\u00e9thode</span><span class=\"f charStyle-c8069515 ps31781\" style=\"width:184.59pt\"> lin\u00e9aire, en fonction des dur\u00e9es d\u2019utilisation</span><span class=\"f charStyle-c8069515 ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:30.9pt\">pr\u00e9vues\u00a0</span><span class=\"f charStyle-165dec60 ps31782\" style=\"width:1.59pt\">:<span class=\"f ps53\"> </span></span></div><div class=\"ps31792 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1990 ws0 ps407\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:108.75pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1985\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">logiciels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31784 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"padding:0\"><div class=\"ps513 ss1986\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">brevets et licences</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31786 ss1987\"><div><div class=\"ps526 ss292\"><span class=\"f charStyle-a696f64a ps3599\">en fonction des dur\u00e9es <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss292\"><span class=\"f charStyle-a696f64a ps28484\">d\u2019utilisation ou de </span></div><div class=\"ps527 ss292\"><span class=\"f charStyle-a696f64a ps31785\">protection<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps12723 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">frais de d\u00e9veloppement </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31788 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31787\">4 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps25614 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">actifs repr\u00e9sentatifs des </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">relations clients acquises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31790 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31789\">au maximum 25 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps9353 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">autres immobilisations </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31791 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps8353 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:266.21pt\">Les autres immobilisations incorporelles se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps31826 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss518\"><div><div class=\"ps509 ss28\"><span class=\"f charStyle-6bef0edd ps30403\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1991\"><div><div class=\"ps16333 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30405 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps27335\">Valeur brute<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30407 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps22454\">Amortissements<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps11159\">et d\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps24121 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31794 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.44pt\"></span></span><span class=\"ps31793\">503<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31795 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.96pt\"></span></span><span class=\"ps27850\">(425)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31797 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.67pt\"></span></span><span class=\"ps31796\">78<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31798 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.5pt\"></span></span><span class=\"ps24129\">74<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Brevets et licences<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31799 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">544<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31801 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.27pt\"></span></span><span class=\"ps31800\">(304)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31803 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.7pt\"></span></span><span class=\"ps31802\">240<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31805 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.09pt\"></span></span><span class=\"ps31804\">260<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31807 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.99pt\"></span></span><span class=\"ps31806\">6\u00a0715<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31809 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.49pt\"></span></span><span class=\"ps31808\">(3\u00a0943)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31811 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.58pt\"></span></span><span class=\"ps31810\">2\u00a0772<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31812 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.22pt\"></span></span><span class=\"ps30758\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1992\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Relations clients et autres </span></div><div class=\"ps748 ss1943\"><span class=\"f charStyle-044fe383 ps10\">immobilisations\u00a0incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31813 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.42pt\"></span></span><span class=\"ps30690\">505<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31815 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.67pt\"></span></span><span class=\"ps31814\">(364)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31817 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.51pt\"></span></span><span class=\"ps31816\">141<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31818 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.69pt\"></span></span><span class=\"ps26306\">200<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16625 ss1991\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">AUTRES IMMOBILISATIONS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss1943\"><span class=\"f charStyle-96b05324 ps10\">INCORPORELLES</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31820 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.58pt\"></span></span><span class=\"ps31819\">8\u00a0267<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31822 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.86pt\"></span></span><span class=\"ps31821\">(5\u00a0036)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31823 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.12pt\"></span></span><span class=\"ps25690\">3\u00a0231<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31825 ss1455\"><div><div class=\"ps23602 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.75pt\"></span></span><span class=\"ps31824\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:243.34pt\">Les variations des immobilisations incorporelles sur les exercices </span><span class=\"f charStyle-165dec60 ps31827\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31828\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps31829\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps31830\" style=\"width:101.68pt\"> sont analys\u00e9es ci-dessous\u00a0:</span></div><div class=\"ps16503 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i99e9065bc30045069719f16b79f4d746\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps16525 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:167.25pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:61.5pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1994\"><div><div class=\"ps30968 ss1993\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31831 ss1995\"><div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps15679\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9723 ss1995\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31832\">Brevets <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps13195\">et\u00a0licences</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28761 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-98f46611 ps31833\">Frais de </span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-7c8d2a4e ps16671\">d\u00e9veloppement</span><span class=\"f charStyle-98f46611 ps31834\"> </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-98f46611 ps31835\">immobilis\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31838 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps3785\">Relations <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31836\">clients et </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps31837\">autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10435 ss687\"><div><div class=\"ps4232 ss680\"><span class=\"f charStyle-6bef0edd ps27406\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps31840\"> </span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31842 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.95pt\"></span></span><span class=\"ps31841\">503<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31844 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.86pt\"></span></span><span class=\"ps31843\">554<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31845 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.71pt\"></span></span><span class=\"ps26189\">6\u00a0511<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31847 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.31pt\"></span></span><span class=\"ps31846\">623<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31849 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.72pt\"></span></span><span class=\"ps31848\">8\u00a0191<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et d\u00e9pr\u00e9ciations cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31850 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.72pt\"></span></span><span class=\"ps3452\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31851 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.72pt\"></span></span><span class=\"ps3452\">(294)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31853 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.08pt\"></span></span><span class=\"ps31852\">(3\u00a0726)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31854 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">(423)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31855 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.63pt\"></span></span><span class=\"ps28741\">(4\u00a0872)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31857 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.13pt\"></span></span><span class=\"ps29950\">74<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31859 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.66pt\"></span></span><span class=\"ps31858\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31860 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.34pt\"></span></span><span class=\"ps31462\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31862 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.34pt\"></span></span><span class=\"ps31861\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31863 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.73pt\"></span></span><span class=\"ps28863\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31865 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.02pt\"></span></span><span class=\"ps31864\">31<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31867 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31869 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.2pt\"></span></span><span class=\"ps31868\">930<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31871 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31873 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.1pt\"></span></span><span class=\"ps31872\">963<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31874 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31875 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31876 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31878 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31880 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.28pt\"></span></span><span class=\"ps31879\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10294 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31881 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31883 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31884 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31885 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31886 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.76pt\"></span></span><span class=\"ps20767\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps19787 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Reprises/(Pertes) de valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31887 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31888 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31889 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">(234)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31891 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.24pt\"></span></span><span class=\"ps31890\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31892 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.29pt\"></span></span><span class=\"ps25574\">(233)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10037 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31894 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.28pt\"></span></span><span class=\"ps31893\">(24)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31896 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.27pt\"></span></span><span class=\"ps31895\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31897 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.45pt\"></span></span><span class=\"ps31488\">(623)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31899 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31901 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.66pt\"></span></span><span class=\"ps31900\">(704)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8283 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31902 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31903 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31905 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.97pt\"></span></span><span class=\"ps31904\">(94)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31906 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.08pt\"></span></span><span class=\"ps28696\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31907 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.54pt\"></span></span><span class=\"ps26325\">(108)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22388 ss1996\"><div><div class=\"ps746 ss1993\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31909 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31910 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31912 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.16pt\"></span></span><span class=\"ps31911\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31914 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.82pt\"></span></span><span class=\"ps31913\">(10)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31916 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.73pt\"></span></span><span class=\"ps31915\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10878 ss1996\"><div><div class=\"ps746 ss1993\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31919 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.34pt\"></span></span><span class=\"ps31918\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31921 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.27pt\"></span></span><span class=\"ps31920\">240<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31923 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.68pt\"></span></span><span class=\"ps31922\">2\u00a0772<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31925 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.9pt\"></span></span><span class=\"ps31924\">141<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31926 ss1998\"><div><div class=\"ps746 ss680\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.08pt\"></span></span><span class=\"ps28205\">3\u00a0231<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31929 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:119.57pt\">Comprend principalement les actifs </span><span class=\"f charStyle-776a1ec6 ps31927\" style=\"width:105.2pt\">des activit\u00e9s d'\u00e9clairage en Inde</span><span class=\"f charStyle-776a1ec6 ps31928\" style=\"width:203.59pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2025.<span class=\"f ps53\"> </span></span></div><div class=\"ps31930 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"ia123761e1d704dbb89cd6238a25256ed\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps31987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3131\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:166.5pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2000\"><div><div class=\"ps30968 ss1999\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps14666 ss1995\"><div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps15679\">Logiciels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30895 ss1995\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31832\">Brevets <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps13195\">et\u00a0licences</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps31931 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-98f46611 ps31833\">Frais de </span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-7c8d2a4e ps16671\">d\u00e9veloppement</span><span class=\"f charStyle-98f46611 ps31834\"> </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-98f46611 ps31835\">immobilis\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps13833 ss1995\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps3785\">Relations <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss589\"><span class=\"f charStyle-ae6044e9 ps31836\">clients et </span></div><div class=\"ps4232 ss589\"><span class=\"f charStyle-ae6044e9 ps31837\">autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11509 ss2001\"><div><div class=\"ps4232 ss331\"><span class=\"f charStyle-6bef0edd ps31115\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31933 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.39pt\"></span></span><span class=\"ps31932\">483<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30902 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.25pt\"></span></span><span class=\"ps20868\">556<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31934 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.38pt\"></span></span><span class=\"ps9345\">6\u00a0042<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31935 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.94pt\"></span></span><span class=\"ps3444\">659<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31937 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.52pt\"></span></span><span class=\"ps31936\">7\u00a0740<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et d\u00e9pr\u00e9ciations cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31939 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.03pt\"></span></span><span class=\"ps31938\">(422)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30910 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">(259)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31941 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.25pt\"></span></span><span class=\"ps31940\">(3\u00a0625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13846 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.44pt\"></span></span><span class=\"ps26201\">(377)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31942 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.26pt\"></span></span><span class=\"ps31145\">(4\u00a0683)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31943 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.23pt\"></span></span><span class=\"ps25887\">61<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30917 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.1pt\"></span></span><span class=\"ps31944\">297<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31945 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.65pt\"></span></span><span class=\"ps28885\">2\u00a0417<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31947 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.15pt\"></span></span><span class=\"ps31946\">282<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31948 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.43pt\"></span></span><span class=\"ps18605\">3\u00a0057<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31949 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.03pt\"></span></span><span class=\"ps22206\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30926 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31951 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.13pt\"></span></span><span class=\"ps31950\">1\u00a0045<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31952 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.69pt\"></span></span><span class=\"ps31866\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31954 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.23pt\"></span></span><span class=\"ps31953\">1\u00a0089<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31955 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30936 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31957 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.36pt\"></span></span><span class=\"ps31956\">(66)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31958 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">(48)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31960 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.38pt\"></span></span><span class=\"ps31959\">(114)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10294 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31962 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.67pt\"></span></span><span class=\"ps31961\">(29)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31963 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31964 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.43pt\"></span></span><span class=\"ps1930\">(625)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31966 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.7pt\"></span></span><span class=\"ps31965\">(36)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31967 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.66pt\"></span></span><span class=\"ps9430\">(727)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps19787 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31968 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31969 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.23pt\"></span></span><span class=\"ps31882\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31971 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.16pt\"></span></span><span class=\"ps31970\">39<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31973 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.26pt\"></span></span><span class=\"ps31972\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31974 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.75pt\"></span></span><span class=\"ps25647\">33<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10037 ss2002\"><div><div class=\"ps746 ss1999\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31976 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.72pt\"></span></span><span class=\"ps31975\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31977 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.44pt\"></span></span><span class=\"ps31870\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31978 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.99pt\"></span></span><span class=\"ps31436\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31979 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.72pt\"></span></span><span class=\"ps31975\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31981 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.47pt\"></span></span><span class=\"ps31980\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8283 ss2002\"><div><div class=\"ps746 ss1999\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31982 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.13pt\"></span></span><span class=\"ps29950\">74<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31983 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.66pt\"></span></span><span class=\"ps31858\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31984 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.34pt\"></span></span><span class=\"ps31462\">2\u00a0785<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31985 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.34pt\"></span></span><span class=\"ps31861\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31986 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.48pt\"></span></span><span class=\"ps28603\">3\u00a0319<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:4.67pt\">C</span><span class=\"f charStyle-776a1ec6 ps29369\" style=\"width:126.37pt\">omprend principalement les actifs de </span><span class=\"f charStyle-28cb5f66 ps31988\" style=\"width:336.08pt\"><span style=\"background-color:inherit\">l'activit\u00e9 de capteurs automobiles permettant les mesures de temp\u00e9rature, de pression et de position</span></span><span class=\"f charStyle-28cb5f66 ps458\" style=\"width:1.7pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps31991 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-28cb5f66 ps269\" style=\"width:132.36pt\"><span style=\"background-color:inherit\">de tous types de syst\u00e8mes de propulsion</span></span><span class=\"f charStyle-776a1ec6 ps31990\" style=\"width:204.21pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2024.</span></div><div class=\"ps31996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.44pt\">En </span><span class=\"f charStyle-165dec60 ps31992\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps31993\" style=\"width:6.95pt\">, </span><span class=\"f charStyle-68ecf294 ps31994\" style=\"width:268.47pt\"><span style=\"background-color:inherit\">Valeo a comptabilis\u00e9 des pertes de valeur significatives suite \u00e0 </span></span><span class=\"f charStyle-165dec60 ps31995\" style=\"width:172.67pt\">des annulations de contrats en phase de</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps31997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.25pt\">d\u00e9veloppement pour lesquelles le Groupe a obtenu des compensations de ses clients. Les pertes de valeur constat\u00e9es en 2024</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:259.12pt\">\u00e9taient elles aussi principalement li\u00e9es \u00e0 des annulations de contrats.</span><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">7.3<span id=\"i48de19078e4e4a458547276cbfd724bf_8135\"></span><span id=\"i5de0dab41b7c42ec9e89095dab7da4f3\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps32000\"><span style=\"display:inline-block;height:10.16pt;width:27.05pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Immobilisations corporelles<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations corporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Ce co\u00fbt inclut les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9penses qui sont directement li\u00e9es \u00e0 l\u2019acquisition du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62pt\">bien et le co\u00fbt </span><span class=\"f charStyle-9206869b ps32002\" style=\"width:155.92pt\">estim\u00e9 de l\u2019obligation de remise en \u00e9tat</span><span class=\"f charStyle-9206869b ps410\" style=\"width:1.9pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.96pt\">d\u2019une partie de l\u2019actif le cas \u00e9ch\u00e9ant. Les immobilisations</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:77.79pt\">corporelles acquises</span><span class=\"f charStyle-165dec60 ps20531\" style=\"width:28.09pt\"> dans <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps12028\" style=\"width:112.1pt\">le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:131.54pt\">d\u2019entreprises sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32003\" style=\"width:86.42pt\"> \u00e0 leur juste valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:59.85pt\">s\u00e9par\u00e9ment du </span><span class=\"f charStyle-e8054d08 ps32004\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32005\" style=\"width:1.59pt\">.</span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.98pt\">Post\u00e9rieurement \u00e0 la comptabilisation initiale, les</span><span class=\"f charStyle-6e7624cd ps431\" style=\"width:1.72pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:53.26pt\">immobilisation</span><span class=\"f charStyle-4177ffd9 ps32006\" style=\"width:8.87pt\">s </span><span class=\"f charStyle-165dec60 ps32007\" style=\"width:155.84pt\">corporelles sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diminu\u00e9 du cumul des amortissements et des pertes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">de\u00a0valeur constat\u00e9es. Les r\u00e9\u00e9valuations significatives,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:118.35pt\">pratiqu\u00e9es conform\u00e9ment aux </span><span class=\"f charStyle-81f42323 ps32008\" style=\"width:99.63pt\">dispositions r\u00e9glementaires</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:117.76pt\">des pays dans lesquels le Group</span><span class=\"f charStyle-5064d44f ps32009\" style=\"width:7.18pt\">e <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32010\" style=\"width:93.01pt\">op\u00e8re, ont \u00e9t\u00e9 \u00e9limin\u00e9es</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">pour assurer l\u2019homog\u00e9n\u00e9it\u00e9 de l\u2019ensemble des valeurs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:138.04pt\">immobilis\u00e9es \u00e0 l\u2019int\u00e9rieur du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps7320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.98pt\">Les d\u00e9penses ult\u00e9rieures sur immobilisations sont</span><span class=\"f charStyle-5d6922b3 ps431\" style=\"width:1.66pt\"> </span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:52.7pt\">comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32011\" style=\"width:165.25pt\"> en charges lorsqu\u2019elles sont encourues,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">sauf celles engag\u00e9es pour prolonger la dur\u00e9e de vie du</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.28pt\">bien.</span></div><div class=\"ps4982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les immobilisations corporelles font l\u2019objet d\u2019un test de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span></div><div class=\"ps32012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dur\u00e9e et m\u00e9thode d\u2019amortissement<span class=\"f ps53\"> </span><span id=\"i01d151d0c943432c8366ce9cda96fc24\"></span></span></div><div class=\"ps2615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les immobilisations corporelles, \u00e0 l\u2019exception des terrains,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2617 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:217.99pt\">sont amorties, selon l\u2019approche par composant, sur leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps412\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:21.78pt\">dur\u00e9e</span><span class=\"f charStyle-165dec60 ps32013\" style=\"width:79.44pt\"> d\u2019utilisation estim\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps2654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.94pt\">Les amortissements sont calcul\u00e9s selon la m\u00e9thode</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:28.63pt\">lin\u00e9aire,</span><span class=\"f charStyle-165dec60 ps32014\" style=\"width:147.8pt\"> en fonction de ces dur\u00e9es d\u2019utilisation\u00a0:</span></div><div class=\"ps32021 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2004 ws0 ps16265\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:170.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:51.43pt\">constructions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32016 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32015\">20 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps513 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:147.6pt\">agencements et installations g\u00e9n\u00e9rales</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32017 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps16602\">8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps519 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:138.23pt\">mat\u00e9riels et \u00e9quipements industriels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32019 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32018\">8 \u00e0 15 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps10356 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:129.33pt\">autres immobilisations corporelles</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32020 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps10066\">3 \u00e0 8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Outillages<span class=\"f ps53\"> </span><span id=\"ica3c0187ffe3443986d615323c7979f8\"></span></span></div><div class=\"ps32023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">En fonction de leur nature, les outillages sp\u00e9cifiques \u00e0 un</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">projet font l\u2019objet d\u2019une analyse de la relation</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">contractuelle avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:49.8pt\">contr\u00f4le de </span><span class=\"f charStyle-5064d44f ps27682\" style=\"width:168.13pt\">l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-5064d44f ps16299\" style=\"width:1.89pt\"> </span></div><div class=\"ps32027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:63.87pt\">sont immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps17770\" style=\"width:154.06pt\"> dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps13338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:91.19pt\">Groupe lorsque ce </span><span class=\"f charStyle-9c680f66 ps32028\" style=\"width:126.79pt\">contr\u00f4le revient \u00e0 Valeo ou</span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:130.72pt\">comptabilis\u00e9s en stocks (jusqu\u2019au</span><span class=\"f charStyle-165dec60 ps32029\" style=\"width:87.22pt\"> transfert de contr\u00f4le)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.53pt\">dans le cas contraire.<span class=\"f ps53\"> </span></span></div><div class=\"ps27020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:217.96pt\">Les \u00e9ventuels financements re\u00e7us des clients sur les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:40.15pt\">outillages <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32032\" style=\"width:177.8pt\">immobilis\u00e9s sont comptabilis\u00e9s au passif de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">l\u2019\u00e9tat de la situation financi\u00e8re et sont rapport\u00e9s au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.07pt\">compte de r\u00e9sultat </span><span class=\"f charStyle-81f42323 ps32033\" style=\"width:139.89pt\">en chiffre d\u2019affaires au m\u00eame rythme</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.03pt\">que les amortissements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32035\" style=\"width:49.84pt\"> de ces biens.</span></div><div class=\"ps27024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les outillages sont amortis selon la m\u00e9thode lin\u00e9aire sur</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps27025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:2.01pt\">l</span><span class=\"f charStyle-b2f078f6 ps32037\" style=\"width:215.94pt\">eur dur\u00e9e d\u2019utilisation estim\u00e9e, soit quatre ans au</span><span class=\"f charStyle-b2f078f6 ps16281\" style=\"width:1.83pt\"> </span></div><div class=\"ps27026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:39.87pt\">maximum.</span></div><div class=\"ps32038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Cr\u00e9dits d\u2019imp\u00f4t<span id=\"i21fd0949f90e4fcbb7ca8ce38d28b671\"></span></span></div><div class=\"ps17818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:217.96pt\">Dans certains pays, l\u2019\u00c9tat peut contribuer \u00e0 l\u2019effort</span><span class=\"f charStyle-5d6922b3 ps16295\" style=\"width:1.66pt\"> </span></div><div class=\"ps17110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:60.58pt\">d\u2019investissement </span><span class=\"f charStyle-165dec60 ps32039\" style=\"width:157.37pt\">du Groupe sous forme de cr\u00e9dits d\u2019imp\u00f4t.</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Une analyse de l\u2019aide re\u00e7ue est effectu\u00e9e afin de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps32040 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">d\u00e9terminer si elle entre dans le champ d\u2019application de la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le r\u00e9sultat\u00a0\u00bb ou si elle doit \u00eatre</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">consid\u00e9r\u00e9e comme une subvention publique. Dans ce</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">dernier cas, le cr\u00e9dit d\u2019imp\u00f4t sera reconnu au r\u00e9sultat sur</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">la p\u00e9riode d\u2019amortissement des actifs sous-jacents</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:200.67pt\">comme une r\u00e9duction de la charge d\u2019amortissement.</span></div><div class=\"ps20266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:233.48pt\">Les immobilisations corporelles se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps32063 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss518\"><div><div class=\"ps509 ss28\"><span class=\"f charStyle-6bef0edd ps30403\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1991\"><div><div class=\"ps16333 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30405 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps27335\">Valeur brute<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30407 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps22454\">Amortissements<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps11159\">et d\u00e9pr\u00e9ciations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps24121 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps30408\">Valeur nette<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31794 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.49pt\"></span></span><span class=\"ps28430\">269<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31795 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.45pt\"></span></span><span class=\"ps30626\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31797 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.88pt\"></span></span><span class=\"ps30068\">248<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31798 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.13pt\"></span></span><span class=\"ps32042\">281<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31799 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.39pt\"></span></span><span class=\"ps32043\">2\u00a0855<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31801 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.99pt\"></span></span><span class=\"ps32044\">(1\u00a0789)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31803 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.12pt\"></span></span><span class=\"ps25690\">1\u00a0066<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31805 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.68pt\"></span></span><span class=\"ps32045\">1\u00a0088<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Mat\u00e9riels et \u00e9quipements industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31807 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.68pt\"></span></span><span class=\"ps30554\">10\u00a0389<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31809 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.36pt\"></span></span><span class=\"ps30363\">(7\u00a0719)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31811 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.72pt\"></span></span><span class=\"ps32046\">2\u00a0670<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31812 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.73pt\"></span></span><span class=\"ps25912\">2\u00a0974<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Outillages sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31813 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.06pt\"></span></span><span class=\"ps32047\">2\u00a0628<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31815 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.54pt\"></span></span><span class=\"ps32048\">(2\u00a0211)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31817 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.8pt\"></span></span><span class=\"ps32049\">417<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31818 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.91pt\"></span></span><span class=\"ps28204\">483<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Autres immobilisations corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32050 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.91pt\"></span></span><span class=\"ps28204\">843<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32052 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.82pt\"></span></span><span class=\"ps32051\">(586)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32053 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.96pt\"></span></span><span class=\"ps5499\">257<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32054 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.09pt\"></span></span><span class=\"ps31804\">260<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-a696f64a ps10\">Immobilisations en cours<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32055 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32056 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32057 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.3pt\"></span></span><span class=\"ps30335\">9<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32058 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.6pt\"></span></span><span class=\"ps27752\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps23036 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">IMMOBILISATIONS CORPORELLES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32060 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.55pt\"></span></span><span class=\"ps32059\">16\u00a0993<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32062 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.53pt\"></span></span><span class=\"ps32061\">(12\u00a0326)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30527 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.97pt\"></span></span><span class=\"ps30761\">4\u00a0667<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30528 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.48pt\"></span></span><span class=\"ps26334\">5\u00a0102<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:300.64pt\">Certaines immobilisations corporelles peuvent faire l\u2019objet de nantissements au </span><span class=\"f charStyle-165dec60 ps32064\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps32065\" style=\"width:14.73pt\"> (cf. </span><span class=\"f charStyle-165dec60 ps32066\" style=\"width:36.4pt\">Note 7.5.2</span><span class=\"f charStyle-165dec60 ps32067\" style=\"width:42.17pt\">, page 422).</span></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:236.26pt\">Les variations des immobilisations corporelles sur les exercices </span><span class=\"f charStyle-165dec60 ps32068\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32069\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps32070\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32071\" style=\"width:101.68pt\"> sont analys\u00e9es ci-dessous\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps16503 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i5cf64fca530f4af0a9b624d0a3b7246c\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps16525 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:35.25pt\"></td><td style=\"padding:0;width:57pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2006\"><div><div class=\"ps24204 ss2005\"><span class=\"f charStyle-221f72ac ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32072 ss2007\"><div><div class=\"ps24204 ss1082\"><span class=\"f charStyle-2d71864b ps13665\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32073 ss2008\"><div><div class=\"ps24204 ss362\"><span class=\"f charStyle-2d71864b ps10263\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3344 ss2009\"><div><div class=\"ps24208 ss360\"><span class=\"f charStyle-2d71864b ps14557\">Mat\u00e9riels et <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss360\"><span class=\"f charStyle-2d71864b ps32074\">\u00e9quipements </span></div><div class=\"ps24204 ss360\"><span class=\"f charStyle-2d71864b ps32075\">industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32076 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps19761\">Outillages<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps29225\">sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32078 ss2010\"><div><div class=\"ps24208 ss696\"><span class=\"f charStyle-2d71864b ps31922\">Autres<span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss696\"><span class=\"f charStyle-2d71864b ps3526\">immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss696\"><span class=\"f charStyle-2d71864b ps32077\">corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30900 ss2010\"><div><div class=\"ps24203 ss696\"><span class=\"f charStyle-2d71864b ps16681\">Immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss696\"><span class=\"f charStyle-2d71864b ps32079\">en cours<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32080 ss2007\"><div><div class=\"ps24204 ss1082\"><span class=\"f charStyle-d606841d ps16735\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24136 ss2011\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE </span></div><div class=\"ps18922 ss2005\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU 1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER\u00a0</sup></span><span class=\"f charStyle-3f403986 ps32082\">JANVIER 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32083 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.22pt\"></span></span><span class=\"ps3568\">303<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32085 ss363\"><div><div class=\"ps523 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.22pt\"></span></span><span class=\"ps32084\">2\u00a0856<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32086 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.54pt\"></span></span><span class=\"ps29993\">10\u00a0659<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32088 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.99pt\"></span></span><span class=\"ps32087\">2\u00a0720<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32089 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.01pt\"></span></span><span class=\"ps26413\">859<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32091 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.48pt\"></span></span><span class=\"ps32090\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32092 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:6.94pt\"></span></span><span class=\"ps10651\">17\u00a0413<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10256 ss2013\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-044fe383 ps10\">Amortissements </span></div><div class=\"ps748 ss2005\"><span class=\"f charStyle-044fe383 ps10\">et\u00a0d\u00e9pr\u00e9ciations\u00a0cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32093 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.23pt\"></span></span><span class=\"ps16426\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32095 ss2014\"><div><div class=\"ps516 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.07pt\"></span></span><span class=\"ps32094\">(1\u00a0768)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32096 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.28pt\"></span></span><span class=\"ps14722\">(7\u00a0685)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32098 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.14pt\"></span></span><span class=\"ps32097\">(2\u00a0237)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32100 ss1229\"><div><div class=\"ps516 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.37pt\"></span></span><span class=\"ps32099\">(599)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32102 ss1229\"><div><div class=\"ps516 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32104 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.2pt\"></span></span><span class=\"ps32103\">(12\u00a0311)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2011\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE </span></div><div class=\"ps18922 ss2005\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU 1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps12742\">JANVIER 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32107 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.88pt\"></span></span><span class=\"ps32106\">281<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32109 ss363\"><div><div class=\"ps523 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.89pt\"></span></span><span class=\"ps32108\">1\u00a0088<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32111 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.57pt\"></span></span><span class=\"ps32110\">2\u00a0974<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32112 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.14pt\"></span></span><span class=\"ps9725\">483<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32113 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.91pt\"></span></span><span class=\"ps15978\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30931 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.48pt\"></span></span><span class=\"ps32090\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32114 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.16pt\"></span></span><span class=\"ps20753\">5\u00a0102<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17407 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32116 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.41pt\"></span></span><span class=\"ps32115\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32118 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.22pt\"></span></span><span class=\"ps32117\">185<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32119 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.66pt\"></span></span><span class=\"ps25708\">623<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32120 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.07pt\"></span></span><span class=\"ps32094\">131<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32122 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.02pt\"></span></span><span class=\"ps32121\">123<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32124 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.49pt\"></span></span><span class=\"ps32123\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32126 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.46pt\"></span></span><span class=\"ps32125\">1\u00a0071<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23552 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32128 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32130 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.53pt\"></span></span><span class=\"ps32129\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32132 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.57pt\"></span></span><span class=\"ps32131\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32134 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.99pt\"></span></span><span class=\"ps32133\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32135 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32136 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32137 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.61pt\"></span></span><span class=\"ps28834\">(69)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29051 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32139 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32141 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.23pt\"></span></span><span class=\"ps32140\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32142 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.28pt\"></span></span><span class=\"ps31445\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32144 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32145 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32146 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32147 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24097 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32149 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.49pt\"></span></span><span class=\"ps32148\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32150 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.69pt\"></span></span><span class=\"ps25828\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32151 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.42pt\"></span></span><span class=\"ps31388\">(62)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32153 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.67pt\"></span></span><span class=\"ps32152\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32155 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.48pt\"></span></span><span class=\"ps32154\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32156 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32158 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.76pt\"></span></span><span class=\"ps32157\">(67)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23403 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32159 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.51pt\"></span></span><span class=\"ps31429\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32161 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.81pt\"></span></span><span class=\"ps32160\">(176)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32162 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.48pt\"></span></span><span class=\"ps28687\">(687)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32163 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.17pt\"></span></span><span class=\"ps9848\">(174)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32165 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.73pt\"></span></span><span class=\"ps32164\">(83)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32166 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32168 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.9pt\"></span></span><span class=\"ps32167\">(1\u00a0123)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14422 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32170 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.47pt\"></span></span><span class=\"ps32169\">(16)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32171 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.48pt\"></span></span><span class=\"ps31434\">(38)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32172 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.07pt\"></span></span><span class=\"ps28704\">(135)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32174 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.28pt\"></span></span><span class=\"ps32173\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32176 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.33pt\"></span></span><span class=\"ps32175\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32178 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.03pt\"></span></span><span class=\"ps32177\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32180 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.98pt\"></span></span><span class=\"ps32179\">(222)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22944 ss2015\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32182 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.94pt\"></span></span><span class=\"ps32181\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32184 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.68pt\"></span></span><span class=\"ps32183\">19<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32186 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.28pt\"></span></span><span class=\"ps32185\">(12)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32187 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.13pt\"></span></span><span class=\"ps28983\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32189 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.55pt\"></span></span><span class=\"ps32188\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32191 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.32pt\"></span></span><span class=\"ps32190\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32192 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.47pt\"></span></span><span class=\"ps32169\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32194 ss2011\"><div><div class=\"ps746 ss2005\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE </span></div><div class=\"ps18922 ss2005\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU <span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32193\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32195 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.66pt\"></span></span><span class=\"ps11174\">248<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32196 ss363\"><div><div class=\"ps523 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.25pt\"></span></span><span class=\"ps25403\">1\u00a0066<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32197 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.64pt\"></span></span><span class=\"ps5388\">2\u00a0670<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32198 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.94pt\"></span></span><span class=\"ps6487\">417<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32200 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.66pt\"></span></span><span class=\"ps32199\">257<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32202 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.42pt\"></span></span><span class=\"ps32201\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32204 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.72pt\"></span></span><span class=\"ps32203\">4\u00a0667<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:119.57pt\">Comprend principalement les actifs </span><span class=\"f charStyle-776a1ec6 ps31927\" style=\"width:105.2pt\">des activit\u00e9s d'\u00e9clairage en Inde</span><span class=\"f charStyle-776a1ec6 ps31928\" style=\"width:203.59pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2025.</span></div><div class=\"ps32206 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i7ce544499e3f4be5b0220f534ff6a490\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps32265 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:58.5pt\"></td><td style=\"padding:0;width:54.75pt\"></td><td style=\"padding:0;width:45.75pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2017\"><div><div class=\"ps24204 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32207 ss2007\"><div><div class=\"ps24204 ss1082\"><span class=\"f charStyle-2d71864b ps13665\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30404 ss2018\"><div><div class=\"ps24204 ss1586\"><span class=\"f charStyle-2d71864b ps23167\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3344 ss2009\"><div><div class=\"ps24208 ss360\"><span class=\"f charStyle-2d71864b ps14557\">Mat\u00e9riels et <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss360\"><span class=\"f charStyle-2d71864b ps32074\">\u00e9quipements</span></div><div class=\"ps24204 ss360\"><span class=\"f charStyle-2d71864b ps32075\">industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32076 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps19761\">Outillages<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps29225\">sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32078 ss2010\"><div><div class=\"ps24208 ss696\"><span class=\"f charStyle-2d71864b ps31922\">Autres<span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss696\"><span class=\"f charStyle-2d71864b ps3526\">immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss696\"><span class=\"f charStyle-2d71864b ps32077\">corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30900 ss2010\"><div><div class=\"ps24203 ss696\"><span class=\"f charStyle-2d71864b ps16681\">Immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss696\"><span class=\"f charStyle-2d71864b ps32079\">en cours<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32080 ss2007\"><div><div class=\"ps24204 ss1082\"><span class=\"f charStyle-d606841d ps16735\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24136 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE </span></div><div class=\"ps18922 ss762\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU 1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps12742\">JANVIER 2024</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32209 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.89pt\"></span></span><span class=\"ps32208\">309<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32211 ss1587\"><div><div class=\"ps523 ss1586\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.37pt\"></span></span><span class=\"ps32210\">2\u00a0752<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32086 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.09pt\"></span></span><span class=\"ps32212\">10\u00a0210<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32088 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.79pt\"></span></span><span class=\"ps32213\">2\u00a0617<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32089 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.03pt\"></span></span><span class=\"ps32214\">839<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32091 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.12pt\"></span></span><span class=\"ps1882\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32092 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:5.09pt\"></span></span><span class=\"ps32215\">16\u00a0754<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10256 ss2020\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Amortissements </span></div><div class=\"ps748 ss762\"><span class=\"f charStyle-044fe383 ps10\">et\u00a0d\u00e9pr\u00e9ciations\u00a0cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32216 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.23pt\"></span></span><span class=\"ps16426\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32217 ss1600\"><div><div class=\"ps516 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.73pt\"></span></span><span class=\"ps6886\">(1\u00a0682)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32096 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.38pt\"></span></span><span class=\"ps32218\">(7\u00a0163)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32098 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.82pt\"></span></span><span class=\"ps32219\">(2\u00a0221)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32100 ss1229\"><div><div class=\"ps516 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.37pt\"></span></span><span class=\"ps32099\">(599)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32102 ss1229\"><div><div class=\"ps516 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.48pt\"></span></span><span class=\"ps32154\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32104 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:5.47pt\"></span></span><span class=\"ps16750\">(11\u00a0689)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE </span></div><div class=\"ps18922 ss762\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU 1<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\">\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps12742\">JANVIER 2024</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32220 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.17pt\"></span></span><span class=\"ps11354\">287<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32221 ss1587\"><div><div class=\"ps523 ss1586\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">1\u00a0070<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32111 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.23pt\"></span></span><span class=\"ps32222\">3\u00a0047<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32112 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.71pt\"></span></span><span class=\"ps32223\">396<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32113 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.52pt\"></span></span><span class=\"ps32224\">240<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30931 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.31pt\"></span></span><span class=\"ps32225\">25<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32114 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.29pt\"></span></span><span class=\"ps32226\">5\u00a0065<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17407 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32227 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.41pt\"></span></span><span class=\"ps32115\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32229 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.4pt\"></span></span><span class=\"ps32228\">186<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32119 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.76pt\"></span></span><span class=\"ps32230\">706<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32120 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.7pt\"></span></span><span class=\"ps9128\">208<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32122 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.58pt\"></span></span><span class=\"ps31644\">140<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32124 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.97pt\"></span></span><span class=\"ps32231\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32126 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.34pt\"></span></span><span class=\"ps32232\">1\u00a0251<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23552 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32234 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.03pt\"></span></span><span class=\"ps32233\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32236 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.74pt\"></span></span><span class=\"ps32235\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32132 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.03pt\"></span></span><span class=\"ps32237\">(24)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32134 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.01pt\"></span></span><span class=\"ps32238\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32135 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.78pt\"></span></span><span class=\"ps31877\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32136 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.17pt\"></span></span><span class=\"ps1992\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32137 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.22pt\"></span></span><span class=\"ps28094\">(46)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29051 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32239 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32241 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.94pt\"></span></span><span class=\"ps32240\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32142 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.19pt\"></span></span><span class=\"ps31442\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32144 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32145 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32146 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32147 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24097 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Reprises/(Pertes) de valeur</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32242 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32244 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.74pt\"></span></span><span class=\"ps32243\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32151 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.03pt\"></span></span><span class=\"ps32237\">(50)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32153 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32155 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.48pt\"></span></span><span class=\"ps32154\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32156 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32158 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.79pt\"></span></span><span class=\"ps32245\">(51)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23403 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32247 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.48pt\"></span></span><span class=\"ps32246\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32248 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.46pt\"></span></span><span class=\"ps16839\">(177)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32162 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.79pt\"></span></span><span class=\"ps25328\">(728)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32163 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.01pt\"></span></span><span class=\"ps32249\">(160)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32165 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.08pt\"></span></span><span class=\"ps32250\">(75)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32166 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32168 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.17pt\"></span></span><span class=\"ps32251\">(1\u00a0142)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14422 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32252 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.78pt\"></span></span><span class=\"ps13116\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32253 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.03pt\"></span></span><span class=\"ps24079\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32172 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.17pt\"></span></span><span class=\"ps32254\">60<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32174 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.13pt\"></span></span><span class=\"ps28983\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32176 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32178 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.69pt\"></span></span><span class=\"ps32101\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32180 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">69<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22944 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Reclassements </span><span class=\"f charStyle-4da12822 ps31908\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32256 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.32pt\"></span></span><span class=\"ps32255\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32257 ss2021\"><div><div class=\"ps509 ss1586\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.88pt\"></span></span><span class=\"ps28579\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32186 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.6pt\"></span></span><span class=\"ps32258\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32187 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.91pt\"></span></span><span class=\"ps25984\">36<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32189 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.95pt\"></span></span><span class=\"ps32259\">(39)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32191 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.51pt\"></span></span><span class=\"ps32260\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32192 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.83pt\"></span></span><span class=\"ps32261\">(44)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32194 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE </span></div><div class=\"ps18922 ss762\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU <span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32193\">31\u00a0D\u00c9CEMBRE 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32262 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.88pt\"></span></span><span class=\"ps32106\">281<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32264 ss1587\"><div><div class=\"ps523 ss1586\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.39pt\"></span></span><span class=\"ps32263\">1\u00a0088<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32197 ss361\"><div><div class=\"ps523 ss360\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.57pt\"></span></span><span class=\"ps32110\">2\u00a0974<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32198 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.14pt\"></span></span><span class=\"ps9725\">483<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32200 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.91pt\"></span></span><span class=\"ps15978\">260<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32202 ss697\"><div><div class=\"ps523 ss696\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.48pt\"></span></span><span class=\"ps32090\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32204 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.16pt\"></span></span><span class=\"ps20753\">5\u00a0102<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:131.04pt\">Comprend principalement les actifs de </span><span class=\"f charStyle-28cb5f66 ps31988\" style=\"width:336.08pt\"><span style=\"background-color:inherit\">l'activit\u00e9 de capteurs automobiles permettant les mesures de temp\u00e9rature, de pression et de position</span></span><span class=\"f charStyle-28cb5f66 ps458\" style=\"width:1.7pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps32267 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-28cb5f66 ps269\" style=\"width:132.36pt\"><span style=\"background-color:inherit\">de tous types de syst\u00e8mes de propulsion</span></span><span class=\"f charStyle-776a1ec6 ps31990\" style=\"width:204.21pt\"> reclass\u00e9s en actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s au 31 d\u00e9cembre 2024.</span></div><div class=\"ps20087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.72pt\">En </span><span class=\"f charStyle-165dec60 ps32268\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32269\" style=\"width:4.23pt\">, </span><span class=\"f charStyle-68ecf294 ps32270\" style=\"width:241.27pt\"><span style=\"background-color:inherit\">Valeo a comptabilis\u00e9 des pertes de valeur significatives suite \u00e0 </span></span><span class=\"f charStyle-165dec60 ps1481\" style=\"width:205.33pt\">des annulations de contrats et des fins de production</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps20088 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">anticip\u00e9es pour lesquelles le Groupe a obtenu des compensations de ses clients. Les pertes de valeur constat\u00e9es en 2024 \u00e9taient</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:227.86pt\">\u00e9galement principalement li\u00e9es des annulations de contrats.</span></div></div><div class=\"ps16277 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Contrats de location<span id=\"ib1b6a101f995466e83fe16d9fc13177c\"></span></span></div><div class=\"ps16279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Le preneur d\u2019un contrat de location entrant dans le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps16282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.47pt\">champ d'application de la norme IFRS 16 </span><span class=\"f charStyle-165dec60 ps32272\" style=\"width:7.07pt\">\u00ab </span><span class=\"f charStyle-165dec60 ps32273\" style=\"width:45.43pt\">Contrats de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7846 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.13pt\">location </span><span class=\"f charStyle-165dec60 ps17497\" style=\"width:3.57pt\">\u00bb<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps2684\" style=\"width:43.16pt\">, reconna\u00eet\u00a0:</span></div><div class=\"ps27722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">une dette financi\u00e8re repr\u00e9sentative de l\u2019obligation de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">payer ce droit au passif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:83.42pt\">financi\u00e8re consolid\u00e9e\u00a0;</span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">un actif non courant repr\u00e9sentatif du droit d\u2019utilisation du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:16.09pt\">bien</span><span class=\"f charStyle-81f42323 ps32274\" style=\"width:4.39pt\"> </span><span class=\"f charStyle-165dec60 ps32275\" style=\"width:191.76pt\">lou\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:44.06pt\">consolid\u00e9e\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">des dotations aux amortissements des droits</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019utilisation et des charges d\u2019int\u00e9r\u00eats sur les dettes de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.87pt\">location au compte de r\u00e9sultat consolid\u00e9.<span class=\"f ps53\"> </span></span></div><div class=\"ps32278 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dette sur biens lou\u00e9s<span id=\"ida15cfec94a24ee48d3868e3d88f44c5\"></span></span></div><div class=\"ps32279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">\u00c0 la date de prise d\u2019effet du contrat de location, la dette</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">sur biens lou\u00e9s est comptabilis\u00e9e pour un montant \u00e9gal \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la valeur actualis\u00e9e des paiements minimaux non encore</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps16300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">vers\u00e9s ainsi que des paiements li\u00e9s aux options que le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.43pt\">preneur a la certitude raisonnable d\u2019exercer.<span class=\"f ps53\"> </span></span></div><div class=\"ps32282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La dur\u00e9e du contrat retenue pour calculer la dette de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps32283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">location est d\u00e9termin\u00e9e suite \u00e0 l\u2019analyse \u00e9conomique des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">\u00e9ventuelles options de r\u00e9siliation anticip\u00e9e, d\u2019extension,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de renouvellement et d\u2019achat de l\u2019actif sous-jacent,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:167.6pt\">incluses dans la dur\u00e9e ex\u00e9cutoire du contrat.</span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Ce montant est ensuite \u00e9valu\u00e9 au co\u00fbt amorti en utilisant</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la m\u00e9thode du taux d\u2019int\u00e9r\u00eat effectif. Il est d\u2019une part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">augment\u00e9 pour prendre en compte les int\u00e9r\u00eats dus au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">titre du passif locatif et d\u2019autre part diminu\u00e9 des loyers</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:23.34pt\">pay\u00e9s.</span></div><div class=\"ps2760 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s \u00e0 partir du taux</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2761 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019endettement marginal du Groupe auquel est ajout\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.7pt\">une </span><span class=\"f charStyle-53279637 ps32284\" style=\"width:196.26pt\">marge pour tenir compte des environnements</span><span class=\"f charStyle-53279637 ps608\" style=\"width:1.85pt\"> </span></div><div class=\"ps2763 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32285\" style=\"width:167.67pt\"> sp\u00e9cifiques \u00e0 chaque pays, de la devise et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:85.26pt\">de la dur\u00e9e du contrat.</span></div><div class=\"ps32286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Droit d\u2019utilisation<span id=\"i08ce7ec2d6b0406b8b84eba8aeb01f18\"></span></span></div><div class=\"ps20022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00c0 la date de prise d\u2019effet du contrat de location, le droit</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps20023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">d\u2019utilisation est \u00e9valu\u00e9 \u00e0 son co\u00fbt et comprend (i) le montant</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">initial de la dette auquel sont ajout\u00e9s, s\u2019il y a lieu, (ii) les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">paiements d\u2019avance faits au loueur, nets le cas \u00e9ch\u00e9ant,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps16181 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des avantages re\u00e7us du bailleur, (iii) les co\u00fbts directs</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20029 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initiaux encourus par le preneur pour la conclusion du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps20030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">contrat ainsi que (iv) l\u2019estimation des co\u00fbts de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9mant\u00e8lement ou de remise en \u00e9tat du bien lou\u00e9 selon</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.99pt\">les termes du contrat.</span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Ce montant est ensuite diminu\u00e9 des amortissements et</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20.98pt\">des p</span><span class=\"f charStyle-c709af45 ps32287\" style=\"width:196.97pt\">ertes de valeur constat\u00e9s. Les droits d\u2019utilisation sont</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:28.15pt\">amortis</span><span class=\"f charStyle-165dec60 ps32288\" style=\"width:189.84pt\"> selon la m\u00e9thode lin\u00e9aire. Les agencements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">indissociables des biens lou\u00e9s sont amortis sur la dur\u00e9e la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">plus courte entre la dur\u00e9e du contrat retenue et la dur\u00e9e</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.48pt\">d\u2019utilisation estim\u00e9e.</span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Lorsque le contrat a pour effet de transf\u00e9rer au preneur la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.08pt\">pr</span><span class=\"f charStyle-4afdd138 ps32289\" style=\"width:209.9pt\">opri\u00e9t\u00e9 du bien ou lorsqu\u2019il comprend une option</span><span class=\"f charStyle-4afdd138 ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:27.42pt\">d\u2019achat</span><span class=\"f charStyle-165dec60 ps20602\" style=\"width:190.54pt\">, qui sera exerc\u00e9e avec une certitude raisonnable,</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.55pt\">le droit </span><span class=\"f charStyle-81f42323 ps32290\" style=\"width:188.41pt\">d\u2019utilisation est amorti sur la dur\u00e9e d\u2019utilit\u00e9 de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:38.41pt\">sous-jacen</span><span class=\"f charStyle-165dec60 ps32291\" style=\"width:179.54pt\">t selon les m\u00eames conditions que celles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.02pt\">appliqu\u00e9es aux actifs d</span><span class=\"f charStyle-4afdd138 ps32292\" style=\"width:128.95pt\">\u00e9tenus en propre. Dans les autres</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:105.46pt\">cas, les droits d\u2019utilisation</span><span class=\"f charStyle-165dec60 ps32293\" style=\"width:5.98pt\"> </span><span class=\"f charStyle-c8069515 ps32294\" style=\"width:106.48pt\">sont amortis sur la dur\u00e9e</span><span class=\"f charStyle-c8069515 ps16293\" style=\"width:1.84pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:146.66pt\">d\u2019utilisation raisonnablement certaine</span><span class=\"f charStyle-165dec60 ps32295\" style=\"width:71.32pt\"> des actifs sous-</span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.58pt\">jacents.</span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.99pt\">Par la suite, la dette et le droit d\u2019utilisation de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps2269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:40.97pt\">sous\u2011jacent</span><span class=\"f charStyle-4afdd138 ps32296\" style=\"width:11.47pt\"> d</span><span class=\"f charStyle-367d076b ps32297\" style=\"width:165.5pt\">oivent \u00eatre r\u00e9-estim\u00e9s pour prendre en</span><span class=\"f charStyle-367d076b ps16283\" style=\"width:1.88pt\"> </span></div><div class=\"ps2271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:75.03pt\">compte les situation</span><span class=\"f charStyle-165dec60 ps32298\" style=\"width:44.66pt\">s suivantes\u00a0:</span></div><div class=\"ps2344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:128.78pt\">la r\u00e9vision de la dur\u00e9e de location\u00a0;</span></div><div class=\"ps6665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">toute modification li\u00e9e \u00e0 l\u2019\u00e9valuation du caract\u00e8re</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:70.22pt\">raisonnablement </span><span class=\"f charStyle-73c14ed6 ps32299\" style=\"width:142.09pt\">certain (ou non) de l\u2019exercice d\u2019une</span><span class=\"f charStyle-73c14ed6 ps29662\" style=\"width:1.75pt\"> </span></div><div class=\"ps6431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps26704\" style=\"width:26.47pt\">option\u00a0;</span></div><div class=\"ps6731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:190.18pt\">la r\u00e9-estimation des garanties de valeur r\u00e9siduelle\u00a0;</span></div><div class=\"ps2432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">la r\u00e9vision des taux ou indices sur lesquels sont bas\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2433 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:37.67pt\">les\u00a0loyers ;</span></div><div class=\"ps32300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-7cdc335a ps448\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\">les modifications des montants de loyers.</span></div><div class=\"ps18521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les principales exemptions pr\u00e9vues par la norme et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:158.05pt\">retenues par le Groupe sont les suivantes\u00a0:</span></div><div class=\"ps18435 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:149.33pt\">exclusion des contrats de courte dur\u00e9e\u00a0;</span></div><div class=\"ps18522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps448\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.29pt\">exclusion des contrats portant sur des actifs de faible</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps18437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:23.39pt\">valeur.</span></div><div class=\"ps6619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les loyers relatifs aux contrats de location exclus du</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">champ d'application de la norme IFRS 16 ainsi que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">paiements variables, non pris en compte lors de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">l\u2019\u00e9valuation initiale de la dette, sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps6742 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">charges op\u00e9rationnelles et sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:129.27pt\">nets de tr\u00e9sorerie des activit\u00e9s </span><span class=\"f charStyle-5dca4c00 ps32302\" style=\"width:88.68pt\">op\u00e9rationnelles, dans le</span><span class=\"f charStyle-5dca4c00 ps16281\" style=\"width:1.74pt\"> </span></div><div class=\"ps6744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:141.43pt\">tableau des flux de tr\u00e9sorerie consolid\u00e9s</span><span class=\"f charStyle-165dec60 ps32303\" style=\"width:1.59pt\">.</span></div><div class=\"ps9286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les paiements relatifs aux contrats de location entrants<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">dans le champ d'application de la norme IFRS 16 sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">ventil\u00e9s entre la charge financi\u00e8re et le remboursement</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.36pt\">du principal </span><span class=\"f charStyle-81993cb5 ps7158\" style=\"width:170.59pt\">du passif locatif. Ils sont reconnus dans les flux</span><span class=\"f charStyle-81993cb5 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps21273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:52.64pt\">sur op\u00e9rations</span><span class=\"f charStyle-165dec60 ps14962\" style=\"width:165.35pt\"> de financement, dans le tableau des flux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">tr\u00e9sorerie consolid\u00e9s. La part relative au remboursement</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">du principal du passif locatif est r\u00e9int\u00e9gr\u00e9e dans la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.49pt\">d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps32304\" style=\"width:35.83pt\">cash flow</span><span class=\"f charStyle-165dec60 ps32305\" style=\"width:20.18pt\"> libre.</span></div><div class=\"ps12014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:413.89pt\">L\u2019\u00e9volution des droits d\u2019utilisation pr\u00e9sent\u00e9s parmi les immobilisations corporelles se d\u00e9compose comme suit\u00a0:</span></div><div class=\"ps32390 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:165.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:57pt\"></td><td style=\"padding:0;width:57pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32307 ss2024\"><div><div class=\"ps3341 ss2023\"><span class=\"f charStyle-2d71864b ps32306\">Droits d\u2019utilisation<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps13301 ss2025\"><div><div class=\"ps24204 ss2022\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32309 ss222\"><div><div class=\"ps24204 ss208\"><span class=\"f charStyle-2d71864b ps32308\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32310 ss2008\"><div><div class=\"ps24204 ss362\"><span class=\"f charStyle-2d71864b ps10263\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32312 ss2008\"><div><div class=\"ps24208 ss362\"><span class=\"f charStyle-2d71864b ps14512\">Mat\u00e9riels et <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss362\"><span class=\"f charStyle-2d71864b ps32311\">\u00e9quipements </span></div><div class=\"ps24204 ss362\"><span class=\"f charStyle-2d71864b ps22660\">industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32315 ss2026\"><div><div class=\"ps24203 ss379\"><span class=\"f charStyle-2d71864b ps32313\">Outillages<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss379\"><span class=\"f charStyle-2d71864b ps32314\">sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32317 ss337\"><div><div class=\"ps24208 ss331\"><span class=\"f charStyle-2d71864b ps32316\">Autres<span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss331\"><span class=\"f charStyle-2d71864b ps9738\">immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss331\"><span class=\"f charStyle-2d71864b ps22364\">corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32318 ss2027\"><div><div class=\"ps24204 ss622\"><span class=\"f charStyle-d606841d ps4275\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10356 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32320 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.33pt\"></span></span><span class=\"ps32319\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32322 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.43pt\"></span></span><span class=\"ps32321\">709<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32323 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.75pt\"></span></span><span class=\"ps26242\">140<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32325 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.24pt\"></span></span><span class=\"ps32324\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32327 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.39pt\"></span></span><span class=\"ps32326\">132<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32328 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.51pt\"></span></span><span class=\"ps24829\">1\u00a0010<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et\u00a0d\u00e9pr\u00e9ciations\u00a0cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32329 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.82pt\"></span></span><span class=\"ps30918\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32330 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.08pt\"></span></span><span class=\"ps31852\">(303)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32332 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.46pt\"></span></span><span class=\"ps32331\">(58)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32333 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.95pt\"></span></span><span class=\"ps28803\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32334 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.21pt\"></span></span><span class=\"ps28685\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32336 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.5pt\"></span></span><span class=\"ps32335\">(436)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32338 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.59pt\"></span></span><span class=\"ps32337\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32340 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.92pt\"></span></span><span class=\"ps32339\">406<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32342 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.57pt\"></span></span><span class=\"ps32341\">82<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32343 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32345 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.12pt\"></span></span><span class=\"ps32344\">72<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32347 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.42pt\"></span></span><span class=\"ps32346\">574<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2029\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-cb5f73d2 ps10\">Nouveaux contrats/Renouvellements/</span></div><div class=\"ps748 ss2022\"><span class=\"f charStyle-044fe383 ps10\">Modifications</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32348 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32349 ss2014\"><div><div class=\"ps516 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.58pt\"></span></span><span class=\"ps1838\">127<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32350 ss2014\"><div><div class=\"ps516 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.72pt\"></span></span><span class=\"ps9368\">106<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32351 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32353 ss355\"><div><div class=\"ps516 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.7pt\"></span></span><span class=\"ps32352\">25<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9779 ss1343\"><div><div class=\"ps516 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.93pt\"></span></span><span class=\"ps14421\">264<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32354 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.98pt\"></span></span><span class=\"ps31087\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32356 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.96pt\"></span></span><span class=\"ps32355\">(90)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32357 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.01pt\"></span></span><span class=\"ps28521\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32358 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32359 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.26pt\"></span></span><span class=\"ps25849\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32360 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.17pt\"></span></span><span class=\"ps29227\">(147)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32361 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.53pt\"></span></span><span class=\"ps1045\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32363 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.26pt\"></span></span><span class=\"ps32362\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32365 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.53pt\"></span></span><span class=\"ps32364\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32366 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32368 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.51pt\"></span></span><span class=\"ps32367\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32369 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.83pt\"></span></span><span class=\"ps31590\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Reclassements <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32371 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.47pt\"></span></span><span class=\"ps32370\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32373 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.7pt\"></span></span><span class=\"ps32372\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32375 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.24pt\"></span></span><span class=\"ps32374\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32376 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32378 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.94pt\"></span></span><span class=\"ps32377\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32379 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.98pt\"></span></span><span class=\"ps17199\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23681 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32380 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32382 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.92pt\"></span></span><span class=\"ps32381\">432<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32384 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.81pt\"></span></span><span class=\"ps32383\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32385 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32387 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.26pt\"></span></span><span class=\"ps32386\">64<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32389 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.32pt\"></span></span><span class=\"ps32388\">678<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:85.7pt\">Sur l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps32391\" style=\"width:70.72pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps20996\" style=\"width:324.75pt\">, la charge comptabilis\u00e9e au titre des loyers relatifs aux contrats exclus du champ</span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> </span></div><div class=\"ps4187 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:261.4pt\">d'application de la norme IFRS 16 et des paiements variables s\u2019\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-165dec60 ps32392\" style=\"width:9.9pt\">44</span><span class=\"f charStyle-165dec60 ps32393\" style=\"width:62.53pt\"> millions d\u2019euros.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-500": {
   "value": "<div class=\"ps11949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.56pt\">Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31715\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31716\" style=\"width:311.21pt\"> sont initialement reconnus lors d\u2019un regroupement d\u2019entreprises tel que d\u00e9crit en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31717\" style=\"width:34.64pt\">Note 3.1.3</span><span class=\"f charStyle-165dec60 ps31718\" style=\"width:37.74pt\">, page 391.</span><span class=\"f charStyle-165dec60 ps31719\" style=\"width:1.96pt\"> </span></div><div class=\"ps6537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:458.57pt\">Post\u00e9rieurement \u00e0 leur comptabilisation initiale, ils ne sont pas amortis mais font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation d\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps29741\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31721 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:44.15pt\">l\u2019apparition <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31720\" style=\"width:414.49pt\">d\u2019indices de pertes de valeur et au minimum une fois par an. Les modalit\u00e9s des tests de d\u00e9pr\u00e9ciation r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps11953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.66pt\">sur </span><span class=\"f charStyle-165dec60 ps15725\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:63.98pt\"> sont d\u00e9crites en </span><span class=\"f charStyle-165dec60 ps31722\" style=\"width:31.27pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31723\" style=\"width:63.92pt\">, pages 419 \u00e0 422.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations incorporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:20.42pt\">sont <span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps31768\" style=\"width:197.52pt\">\u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Les immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:48.32pt\">incorporelles </span><span class=\"f charStyle-165dec60 ps31769\" style=\"width:169.62pt\">acquises dans le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u2019entreprises sont comptabilis\u00e9es \u00e0 leur juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:123.53pt\">s\u00e9par\u00e9ment du goodwill. </span><span class=\"f charStyle-01aaed4f ps31770\" style=\"width:94.46pt\">Post\u00e9rieurement \u00e0 la</span><span class=\"f charStyle-01aaed4f ps412\" style=\"width:1.71pt\"> </span></div><div class=\"ps31772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-01aaed4f ps6588\" style=\"width:164.36pt\">comptabilisation initiale, les immobilisations</span><span class=\"f charStyle-165dec60 ps31771\" style=\"width:53.61pt\"> incorporelles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt diminu\u00e9 du cumul des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">amortissements et des pertes de valeur constat\u00e9es. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">immobilisations incorporelles font l\u2019objet de tests de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14132 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span><span class=\"f charStyle-165dec60 ps31775\" style=\"width:1.96pt\"> </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:217.99pt\">Les frais de d\u00e9veloppement inscrits dans les autres</span><span class=\"f charStyle-4177ffd9 ps412\" style=\"width:1.65pt\"> </span></div><div class=\"ps4908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:55.63pt\">immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5409\" style=\"width:6.61pt\"> </span><span class=\"f charStyle-367d076b ps31776\" style=\"width:155.72pt\">incorporelles de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-367d076b ps608\" style=\"width:1.88pt\"> </span></div><div class=\"ps4909 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:104.84pt\">financi\u00e8re correspondent </span><span class=\"f charStyle-165dec60 ps31777\" style=\"width:113.12pt\">\u00e0 des projets d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sp\u00e9cifique pour les clients, qui reposent sur des standards</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies d\u00e9j\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">appliqu\u00e9es en production. Ces projets font l\u2019objet d\u2019une</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">analyse au cas par cas afin de s\u2019assurer qu\u2019ils r\u00e9pondent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:176.81pt\">bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s en </span><span class=\"f charStyle-165dec60 ps31778\" style=\"width:39.52pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps837\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:66.07pt\">pages 399 et 400.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais encourus avant la d\u00e9cision formelle d\u2019entrer dans</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">le d\u00e9veloppement du produit sont enregistr\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:38.37pt\">charges d<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps31779\" style=\"width:179.6pt\">e la p\u00e9riode. Les frais encourus post\u00e9rieurement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16278\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.75pt\">au d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps31780\" style=\"width:163.21pt\"> de la production en s\u00e9rie sont trait\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">comme des co\u00fbts de production.</span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:217.96pt\">Les immobilisations incorporelles sont amorties selon la</span><span class=\"f charStyle-5dca4c00 ps16295\" style=\"width:1.74pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:33.36pt\">m\u00e9thode</span><span class=\"f charStyle-c8069515 ps31781\" style=\"width:184.59pt\"> lin\u00e9aire, en fonction des dur\u00e9es d\u2019utilisation</span><span class=\"f charStyle-c8069515 ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:30.9pt\">pr\u00e9vues\u00a0</span><span class=\"f charStyle-165dec60 ps31782\" style=\"width:1.59pt\">:<span class=\"f ps53\"> </span></span></div><div class=\"ps31792 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1990 ws0 ps407\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:108.75pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1985\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">logiciels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31784 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"padding:0\"><div class=\"ps513 ss1986\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">brevets et licences</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31786 ss1987\"><div><div class=\"ps526 ss292\"><span class=\"f charStyle-a696f64a ps3599\">en fonction des dur\u00e9es <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss292\"><span class=\"f charStyle-a696f64a ps28484\">d\u2019utilisation ou de </span></div><div class=\"ps527 ss292\"><span class=\"f charStyle-a696f64a ps31785\">protection<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps12723 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">frais de d\u00e9veloppement </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31788 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31787\">4 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps25614 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">actifs repr\u00e9sentatifs des </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">relations clients acquises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31790 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31789\">au maximum 25 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps9353 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">autres immobilisations </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31791 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations corporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Ce co\u00fbt inclut les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9penses qui sont directement li\u00e9es \u00e0 l\u2019acquisition du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62pt\">bien et le co\u00fbt </span><span class=\"f charStyle-9206869b ps32002\" style=\"width:155.92pt\">estim\u00e9 de l\u2019obligation de remise en \u00e9tat</span><span class=\"f charStyle-9206869b ps410\" style=\"width:1.9pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.96pt\">d\u2019une partie de l\u2019actif le cas \u00e9ch\u00e9ant. Les immobilisations</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:77.79pt\">corporelles acquises</span><span class=\"f charStyle-165dec60 ps20531\" style=\"width:28.09pt\"> dans <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps12028\" style=\"width:112.1pt\">le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:131.54pt\">d\u2019entreprises sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32003\" style=\"width:86.42pt\"> \u00e0 leur juste valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:59.85pt\">s\u00e9par\u00e9ment du </span><span class=\"f charStyle-e8054d08 ps32004\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32005\" style=\"width:1.59pt\">.</span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.98pt\">Post\u00e9rieurement \u00e0 la comptabilisation initiale, les</span><span class=\"f charStyle-6e7624cd ps431\" style=\"width:1.72pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:53.26pt\">immobilisation</span><span class=\"f charStyle-4177ffd9 ps32006\" style=\"width:8.87pt\">s </span><span class=\"f charStyle-165dec60 ps32007\" style=\"width:155.84pt\">corporelles sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diminu\u00e9 du cumul des amortissements et des pertes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">de\u00a0valeur constat\u00e9es. Les r\u00e9\u00e9valuations significatives,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:118.35pt\">pratiqu\u00e9es conform\u00e9ment aux </span><span class=\"f charStyle-81f42323 ps32008\" style=\"width:99.63pt\">dispositions r\u00e9glementaires</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:117.76pt\">des pays dans lesquels le Group</span><span class=\"f charStyle-5064d44f ps32009\" style=\"width:7.18pt\">e <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32010\" style=\"width:93.01pt\">op\u00e8re, ont \u00e9t\u00e9 \u00e9limin\u00e9es</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">pour assurer l\u2019homog\u00e9n\u00e9it\u00e9 de l\u2019ensemble des valeurs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:138.04pt\">immobilis\u00e9es \u00e0 l\u2019int\u00e9rieur du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps7320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.98pt\">Les d\u00e9penses ult\u00e9rieures sur immobilisations sont</span><span class=\"f charStyle-5d6922b3 ps431\" style=\"width:1.66pt\"> </span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:52.7pt\">comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32011\" style=\"width:165.25pt\"> en charges lorsqu\u2019elles sont encourues,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">sauf celles engag\u00e9es pour prolonger la dur\u00e9e de vie du</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.28pt\">bien.</span></div><div class=\"ps4982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les immobilisations corporelles font l\u2019objet d\u2019un test de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span></div><div class=\"ps32012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dur\u00e9e et m\u00e9thode d\u2019amortissement<span class=\"f ps53\"> </span><span id=\"i01d151d0c943432c8366ce9cda96fc24\"></span></span></div><div class=\"ps2615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les immobilisations corporelles, \u00e0 l\u2019exception des terrains,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2617 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:217.99pt\">sont amorties, selon l\u2019approche par composant, sur leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps412\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:21.78pt\">dur\u00e9e</span><span class=\"f charStyle-165dec60 ps32013\" style=\"width:79.44pt\"> d\u2019utilisation estim\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps2654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.94pt\">Les amortissements sont calcul\u00e9s selon la m\u00e9thode</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:28.63pt\">lin\u00e9aire,</span><span class=\"f charStyle-165dec60 ps32014\" style=\"width:147.8pt\"> en fonction de ces dur\u00e9es d\u2019utilisation\u00a0:</span></div><div class=\"ps32021 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2004 ws0 ps16265\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:170.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:51.43pt\">constructions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32016 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32015\">20 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps513 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:147.6pt\">agencements et installations g\u00e9n\u00e9rales</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32017 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps16602\">8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps519 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:138.23pt\">mat\u00e9riels et \u00e9quipements industriels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32019 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32018\">8 \u00e0 15 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps10356 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:129.33pt\">autres immobilisations corporelles</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32020 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps10066\">3 \u00e0 8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Outillages<span class=\"f ps53\"> </span><span id=\"ica3c0187ffe3443986d615323c7979f8\"></span></span></div><div class=\"ps32023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">En fonction de leur nature, les outillages sp\u00e9cifiques \u00e0 un</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">projet font l\u2019objet d\u2019une analyse de la relation</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">contractuelle avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:49.8pt\">contr\u00f4le de </span><span class=\"f charStyle-5064d44f ps27682\" style=\"width:168.13pt\">l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-5064d44f ps16299\" style=\"width:1.89pt\"> </span></div><div class=\"ps32027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:63.87pt\">sont immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps17770\" style=\"width:154.06pt\"> dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps13338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:91.19pt\">Groupe lorsque ce </span><span class=\"f charStyle-9c680f66 ps32028\" style=\"width:126.79pt\">contr\u00f4le revient \u00e0 Valeo ou</span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:130.72pt\">comptabilis\u00e9s en stocks (jusqu\u2019au</span><span class=\"f charStyle-165dec60 ps32029\" style=\"width:87.22pt\"> transfert de contr\u00f4le)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.53pt\">dans le cas contraire.<span class=\"f ps53\"> </span></span></div><div class=\"ps27020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:217.96pt\">Les \u00e9ventuels financements re\u00e7us des clients sur les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:40.15pt\">outillages <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32032\" style=\"width:177.8pt\">immobilis\u00e9s sont comptabilis\u00e9s au passif de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">l\u2019\u00e9tat de la situation financi\u00e8re et sont rapport\u00e9s au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.07pt\">compte de r\u00e9sultat </span><span class=\"f charStyle-81f42323 ps32033\" style=\"width:139.89pt\">en chiffre d\u2019affaires au m\u00eame rythme</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.03pt\">que les amortissements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32035\" style=\"width:49.84pt\"> de ces biens.</span></div><div class=\"ps27024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les outillages sont amortis selon la m\u00e9thode lin\u00e9aire sur</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps27025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:2.01pt\">l</span><span class=\"f charStyle-b2f078f6 ps32037\" style=\"width:215.94pt\">eur dur\u00e9e d\u2019utilisation estim\u00e9e, soit quatre ans au</span><span class=\"f charStyle-b2f078f6 ps16281\" style=\"width:1.83pt\"> </span></div><div class=\"ps27026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:39.87pt\">maximum.</span></div><div class=\"ps32038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Cr\u00e9dits d\u2019imp\u00f4t<span id=\"i21fd0949f90e4fcbb7ca8ce38d28b671\"></span></span></div><div class=\"ps17818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:217.96pt\">Dans certains pays, l\u2019\u00c9tat peut contribuer \u00e0 l\u2019effort</span><span class=\"f charStyle-5d6922b3 ps16295\" style=\"width:1.66pt\"> </span></div><div class=\"ps17110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:60.58pt\">d\u2019investissement </span><span class=\"f charStyle-165dec60 ps32039\" style=\"width:157.37pt\">du Groupe sous forme de cr\u00e9dits d\u2019imp\u00f4t.</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Une analyse de l\u2019aide re\u00e7ue est effectu\u00e9e afin de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps32040 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">d\u00e9terminer si elle entre dans le champ d\u2019application de la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le r\u00e9sultat\u00a0\u00bb ou si elle doit \u00eatre</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">consid\u00e9r\u00e9e comme une subvention publique. Dans ce</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">dernier cas, le cr\u00e9dit d\u2019imp\u00f4t sera reconnu au r\u00e9sultat sur</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">la p\u00e9riode d\u2019amortissement des actifs sous-jacents</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:200.67pt\">comme une r\u00e9duction de la charge d\u2019amortissement.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les immobilisations incorporelles et corporelles ayant une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.96pt\">dur\u00e9e d\u2019utilit\u00e9 d\u00e9termin\u00e9e font l\u2019objet de tests de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps608\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:45.53pt\">d\u00e9pr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps32396\" style=\"width:172.39pt\"> d\u00e8s lors qu\u2019il existe des indices objectifs de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:90.28pt\">perte de valeur. Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps32397\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32398\" style=\"width:95.48pt\"> et les immobilisations</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">incorporelles non encore pr\u00eates \u00e0 \u00eatre mises en service</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">font l\u2019objet de tests de d\u00e9pr\u00e9ciation d\u00e8s l\u2019apparition</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.89pt\">d\u2019indices de perte de valeur et en tout \u00e9tat de cause au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.95pt\">minimum une fois par an.<span class=\"f ps53\"> </span></span></div><div class=\"ps32400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie et <span id=\"iee563d9935cf4586a0d65c650a508101\"></span></span><span class=\"f charStyle-77ede7ab ps32399\">goodwill</span></div><div class=\"ps32401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT) sont des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32403 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:31.23pt\">entit\u00e9s </span><span class=\"f charStyle-49b0b1fa ps32402\" style=\"width:186.73pt\">op\u00e9rationnelles g\u00e9n\u00e9rant des flux de tr\u00e9sorerie</span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> </span></div><div class=\"ps32405 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:62.15pt\">ind\u00e9pendants. </span><span class=\"f charStyle-56831d77 ps32404\" style=\"width:155.8pt\">Dans l\u2019organisation du Groupe, elles<span class=\"f ps53\"> </span></span><span class=\"f charStyle-56831d77 ps425\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps28150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps6588\" style=\"width:105.63pt\">correspondent g\u00e9n\u00e9ralemen</span><span class=\"f charStyle-165dec60 ps32406\" style=\"width:112.32pt\">t \u00e0 des regroupements de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps21258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sites de production appartenant \u00e0 une m\u00eame Ligne de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Produits, au m\u00eame Groupe de Produits ou \u00e0 la m\u00eame<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.27pt\">Op\u00e9ration R\u00e9gionale. Au </span><span class=\"f charStyle-165dec60 ps32407\" style=\"width:69.08pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32408\" style=\"width:52.6pt\">, les UGT sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12039 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.13pt\">au nombre de 19.</span></div><div class=\"ps13986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.95pt\">C\u2019est \u00e0 ce niveau que l\u2019ensemble des immobilisations</span><span class=\"f charStyle-5d6922b3 ps425\" style=\"width:1.66pt\"> </span></div><div class=\"ps13987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:41.26pt\">incorporelle</span><span class=\"f charStyle-165dec60 ps20276\" style=\"width:176.67pt\">s et corporelles est test\u00e9, en cas d\u2019indice de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">perte de valeur, \u00e0 l\u2019exception des immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:106.77pt\">incorporelles et corporelles </span><span class=\"f charStyle-81f42323 ps32409\" style=\"width:111.21pt\">inutilis\u00e9es qui font l\u2019objet d\u2019un</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps13990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:114.41pt\">test de d\u00e9pr\u00e9ciation sp\u00e9cifique.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13598\" style=\"width:103.57pt\"> La survenance de facteurs</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13991 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">d\u00e9favorables d\u2019une significativit\u00e9 particuli\u00e8re et durable<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32410 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">pour le Groupe, tels que notamment la d\u00e9gradation de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32411 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">l\u2019environnement \u00e9conomique d\u2019un pays, d\u2019une usine ou</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps26638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de l\u2019existence de litiges contractuels, peut conduire le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps26639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Groupe \u00e0 r\u00e9examiner la valeur d\u2019utilit\u00e9 des actifs affect\u00e9s</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">et \u00e0 reconnaitre une d\u00e9pr\u00e9ciation \u00e0 caract\u00e8re</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:146.4pt\">exceptionnel pour certains d\u2019entre eux.<span class=\"f ps53\"> </span></span></div><div class=\"ps32415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.66pt\">Les </span><span class=\"f charStyle-e8054d08 ps32413\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32414\" style=\"width:171.07pt\"> sont test\u00e9s au niveau des Divisions telles que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:68.28pt\">d\u00e9finies dans la </span><span class=\"f charStyle-165dec60 ps32416\" style=\"width:28.04pt\">Note 4</span><span class=\"f charStyle-165dec60 ps32417\" style=\"width:121.57pt\">, pages 393 \u00e0 395,\u00a0 relative \u00e0</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps21545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">l\u2019information sectorielle. Les Divisions correspondent \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des regroupements d\u2019UGT qui repr\u00e9sentent les niveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps21549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.9pt\">auxquels les </span><span class=\"f charStyle-e8054d08 ps32418\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5232\" style=\"width:95.48pt\"> sont suivis par le Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:15.14pt\">Les </span><span class=\"f charStyle-e8054d08 ps32419\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps26810\" style=\"width:170.62pt\"> font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation annuel</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">en fin d\u2019ann\u00e9e suivant la m\u00eame m\u00e9thode et les m\u00eames</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">hypoth\u00e8ses que celles retenues pour les UGT, telles que</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:73.04pt\">d\u00e9crites ci-dessous.</span></div><div class=\"ps32420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Test de d\u00e9pr\u00e9ciation<span id=\"ic9a3c56f230342709fdd88eb6c299abe\"></span></span></div><div class=\"ps21302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Le test de d\u00e9pr\u00e9ciation consiste \u00e0 comparer la valeur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps19237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.97pt\">recouvrable d\u2019un actif immobilis\u00e9 \u00e0 sa valeur nette</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps20381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:40.82pt\">comptable.</span><span class=\"f charStyle-165dec60 ps32421\" style=\"width:2.58pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps32422\" style=\"width:174.52pt\">Si la valeur comptable est sup\u00e9rieure \u00e0 la valeur</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps32424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:44.02pt\">recouvrable,</span><span class=\"f charStyle-165dec60 ps32423\" style=\"width:173.95pt\"> l\u2019actif correspondant est ramen\u00e9 \u00e0 sa valeur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps32425 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">recouvrable. La valeur recouvrable d\u2019un actif ou d\u2019un</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">groupe d\u2019actifs est la valeur la plus \u00e9lev\u00e9e entre sa juste</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps15259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:210.05pt\">valeur diminu\u00e9e des co\u00fbts de sortie et sa valeur d\u2019utilit\u00e9.</span></div><div class=\"ps19245 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La juste valeur diminu\u00e9e des co\u00fbts de sortie est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9termin\u00e9e sur la base des informations disponibles</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps6633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">permettant de r\u00e9aliser la meilleure estimation de la valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">de vente nette des co\u00fbts n\u00e9cessaires pour r\u00e9aliser la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">vente, dans des conditions de concurrence normale entre</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:163.66pt\">des parties bien inform\u00e9es et consentantes.</span></div><div class=\"ps6637 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">La valeur d\u2019utilit\u00e9 correspond \u00e0 la valeur actuelle des flux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">de tr\u00e9sorerie futurs que l\u2019on esp\u00e8re obtenir d\u2019un actif ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">d\u2019un groupe d\u2019actifs, en tenant compte de sa valeur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps6640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:37.99pt\">r\u00e9siduelle.</span></div><div class=\"ps6641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:103.35pt\">Pour les tests d\u2019UGT et de </span><span class=\"f charStyle-e8054d08 ps32428\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32429\" style=\"width:82.4pt\">, compte tenu du fait</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">qu\u2019il existe rarement une base fiable pour \u00e9valuer la juste</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">valeur diminu\u00e9e des co\u00fbts de sortie d\u2019un groupe d\u2019actifs</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">du Groupe, Valeo utilise, sauf indication contraire, la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">valeur d\u2019utilit\u00e9 pour d\u00e9terminer la valeur recouvrable d\u2019un</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:106.22pt\">actif ou d\u2019un groupe d\u2019actifs.<span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:125.78pt\">La valeur d\u2019utilit\u00e9 des UGT et des </span><span class=\"f charStyle-e8054d08 ps32430\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32431\" style=\"width:59.9pt\"> est d\u00e9termin\u00e9e</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.56pt\">selon la m\u00e9thode suivante\u00a0:</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les projections \u00e0 cinq ans des flux de tr\u00e9sorerie apr\u00e8s</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">imp\u00f4ts, \u00e9tablies \u00e0 partir des plans \u00e0 moyen terme</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">pr\u00e9par\u00e9s par les entit\u00e9s du Groupe et approuv\u00e9s par la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">Direction G\u00e9n\u00e9rale et le Conseil d\u2019Administration, sont</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:45.09pt\">actualis\u00e9es\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2113 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">au-del\u00e0 de ces cinq ann\u00e9es, les flux futurs de tr\u00e9sorerie \u00e0</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">perp\u00e9tuit\u00e9 sont extrapol\u00e9s \u00e0 partir d\u2019un taux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">croissance \u00e0 l\u2019infini appliqu\u00e9 sur la pr\u00e9vision de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">tr\u00e9sorerie normative, qui correspond \u00e0 celle de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:138.43pt\">derni\u00e8re ann\u00e9e du plan moyen </span><span class=\"f charStyle-9c680f66 ps32432\" style=\"width:73.86pt\">terme, retrait\u00e9e si</span><span class=\"f charStyle-9c680f66 ps16295\" style=\"width:1.93pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps26704\" style=\"width:152.34pt\">n\u00e9cessaire des \u00e9l\u00e9ments non r\u00e9currents\u00a0;</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">l\u2019actualisation des flux de tr\u00e9sorerie est effectu\u00e9e selon</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">un taux qui refl\u00e8te l\u2019appr\u00e9ciation courante du march\u00e9</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">de la valeur temps de l\u2019argent et des risques sp\u00e9cifiques</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">\u00e0 l\u2019actif (ou groupe d\u2019actifs). Ce taux correspond au co\u00fbt</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps8857 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">moyen pond\u00e9r\u00e9 du capital (WACC) apr\u00e8s imp\u00f4ts.</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps8858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:64.67pt\">L\u2019utilisation d\u2019un </span><span class=\"f charStyle-81f42323 ps32433\" style=\"width:147.65pt\">taux apr\u00e8s imp\u00f4ts appliqu\u00e9 \u00e0 des flux de</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps8859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:67.99pt\">tr\u00e9sorerie fiscalis\u00e9s</span><span class=\"f charStyle-165dec60 ps32434\" style=\"width:3.05pt\"> </span><span class=\"f charStyle-367d076b ps32435\" style=\"width:141.25pt\">aboutit \u00e0 la d\u00e9termination de valeurs</span><span class=\"f charStyle-367d076b ps16295\" style=\"width:1.88pt\"> </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps26704\" style=\"width:80.45pt\">recouvrables similaire</span><span class=\"f charStyle-81f42323 ps32436\" style=\"width:3.48pt\">s</span><span class=\"f charStyle-165dec60 ps32437\" style=\"width:128.36pt\"> \u00e0 celles obtenues en utilisant des</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:207.63pt\">taux avant imp\u00f4ts \u00e0 des flux de tr\u00e9sorerie non fiscalis\u00e9s.</span></div><div class=\"ps8863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:217.95pt\">Dans certaines circonstances o\u00f9 l'application de cette</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:34.27pt\">m\u00e9thode</span><span class=\"f charStyle-165dec60 ps32438\" style=\"width:183.66pt\"> n'est pas appropri\u00e9e pour d\u00e9terminer la valeur</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:108.97pt\">d'utilit\u00e9 d'une UGT ou d'un </span><span class=\"f charStyle-e8054d08 ps32439\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32440\" style=\"width:76.73pt\">, des projections de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">flux de tr\u00e9sorerie au-del\u00e0 de cinq ans peuvent \u00eatre</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">utilis\u00e9es. Cela peut \u00eatre le cas pour des march\u00e9s en forte</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps20017 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">croissance qui ne seront pas matures en fin de plan ainsi</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps20019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">que pour les activit\u00e9s avec un horizon de temps fini.</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps16317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque cette m\u00e9thode est appliqu\u00e9e, le plan d'affaires</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps20020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">au-del\u00e0 de cinq ans est \u00e9tabli \u00e0 partir des donn\u00e9es de</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps20021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:123.25pt\">march\u00e9 les plus fiables possibles.</span><span class=\"f charStyle-165dec60 ps32441\" style=\"width:1.96pt\"> </span></div><div class=\"ps22328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Les contrats de location dans le champ d'application de la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps22330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IFRS 16 \u00ab\u00a0Contrats de location\u00a0\u00bb sont trait\u00e9s de la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.85pt\">mani\u00e8re suivante\u00a0:</span></div><div class=\"ps8880 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a33a3989 ps448\" style=\"width:2.61pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps26704\" style=\"width:212.27pt\">les capitaux employ\u00e9s test\u00e9s incluent les droits</span><span class=\"f charStyle-5064d44f ps16283\" style=\"width:1.89pt\"> </span></div><div class=\"ps8881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps26704\" style=\"width:46.18pt\">d\u2019utilisation ;</span></div><div class=\"ps12430 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">le co\u00fbt moyen pond\u00e9r\u00e9 du capital (WACC) apr\u00e8s imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">est d\u00e9termin\u00e9 en tenant compte des dettes sur biens</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps12432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:21.53pt\">lou\u00e9s.</span></div><div class=\"ps32444 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.73pt\">Une perte de valeur comptabilis\u00e9e au titre d\u2019un </span><span class=\"f charStyle-e8054d08 ps32443\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32445 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.67pt\">ne peut \u00eatre reprise.</span></div><div class=\"ps26610 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:184.16pt\">Une perte de valeur, sur un actif autre qu\u2019un </span><span class=\"f charStyle-e8054d08 ps32446\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31604\" style=\"width:1.59pt\">,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32447 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">peut \u00eatre reprise s\u2019il existe des indices que la perte de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:31.6pt\">valeur a </span><span class=\"f charStyle-1abed7d4 ps32448\" style=\"width:186.3pt\">diminu\u00e9 ou n\u2019existe plus. Le montant de la reprise</span><span class=\"f charStyle-1abed7d4 ps29741\" style=\"width:1.93pt\"> </span></div><div class=\"ps30672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps448\" style=\"width:41.65pt\">\u00e9ventuelle </span><span class=\"f charStyle-165dec60 ps32450\" style=\"width:176.33pt\">est alors bas\u00e9 sur les nouvelles estimations de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur recouvrable. La valeur comptable d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">augment\u00e9e en raison de la reprise d\u2019une perte de valeur</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">ne peut \u00eatre sup\u00e9rieure \u00e0 la valeur comptable qui aurait</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">\u00e9t\u00e9 d\u00e9termin\u00e9e si aucune perte de valeur n\u2019avait \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:54.83pt\">comptabilis\u00e9e.</span></div><span class=\"f charStyle-b11f9a65 ps29285\">Immobilisations incorporelles et\u00a0corporelles (hors </span><span class=\"f charStyle-b8a0a0c4 ps32504\">goodwill</span><span class=\"f charStyle-b11f9a65 ps32505\">)</span><div class=\"ps661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:229.26pt\">Le p\u00e9rim\u00e8tre des tests de d\u00e9pr\u00e9ciation sur les unit\u00e9s</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:49.18pt\">g\u00e9n\u00e9ratrices </span><span class=\"f charStyle-73c14ed6 ps32507\" style=\"width:180.11pt\">de tr\u00e9sorerie (UGT) est compos\u00e9 d\u2019une part des</span><span class=\"f charStyle-73c14ed6 ps425\" style=\"width:1.75pt\"> </span></div><div class=\"ps666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps275\" style=\"width:80.93pt\">UGT ayant fait l\u2019objet</span><span class=\"f charStyle-165dec60 ps32508\" style=\"width:148.34pt\"> d\u2019une d\u00e9pr\u00e9ciation lors des cl\u00f4tures</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:111.78pt\">pr\u00e9c\u00e9dentes et demeurant </span><span class=\"f charStyle-42e3db84 ps32509\" style=\"width:117.52pt\">sensibles aux crit\u00e8res \u00e9nonc\u00e9s</span><span class=\"f charStyle-42e3db84 ps608\" style=\"width:1.82pt\"> </span></div><div class=\"ps669 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps275\" style=\"width:28.36pt\">dans la </span><span class=\"f charStyle-42e3db84 ps32510\" style=\"width:36.13pt\">Note 7.4.3</span><span class=\"f charStyle-42e3db84 ps32511\" style=\"width:36.07pt\">, page 421</span><span class=\"f charStyle-81f42323 ps32512\" style=\"width:128.71pt\"> et d\u2019autre part des UGT pr\u00e9sentant</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps670 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:101.66pt\">un indice de perte de valeur.</span><span class=\"f charStyle-81f42323 ps32513\" style=\"width:1.78pt\"> </span></div><div class=\"ps9674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les principaux indices de perte de valeur retenus par le</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.14pt\">Groupe</span><span class=\"f charStyle-53279637 ps32514\" style=\"width:201.12pt\"> dans le cadre des tests de d\u00e9pr\u00e9ciation sur les unit\u00e9s</span><span class=\"f charStyle-53279637 ps410\" style=\"width:1.85pt\"> </span></div><div class=\"ps673 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:42.27pt\">g\u00e9n\u00e9ratrice</span><span class=\"f charStyle-165dec60 ps32515\" style=\"width:187.02pt\">s de tr\u00e9sorerie (UGT) sont une marge</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps674 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:113.47pt\">op\u00e9rationnelle n\u00e9gative en\u00a0</span><span class=\"f charStyle-165dec60 ps32516\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32517\" style=\"width:98.13pt\">, une chute des ventes</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps675 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:93.83pt\">sup\u00e9rieure \u00e0 20 % entre </span><span class=\"f charStyle-165dec60 ps32518\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32519\" style=\"width:2.68pt\"> </span><span class=\"f charStyle-c709af45 ps32520\" style=\"width:9.98pt\">et\u00a0</span><span class=\"f charStyle-c709af45 ps32521\" style=\"width:17.34pt\">2025</span><span class=\"f charStyle-c709af45 ps32522\" style=\"width:87pt\"> ou un retard r\u00e9current</span><span class=\"f charStyle-c709af45 ps429\" style=\"width:1.87pt\"> </span></div><div class=\"ps676 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps275\" style=\"width:143.96pt\">significatif par rapport aux objectifs </span><span class=\"f charStyle-49b0b1fa ps32523\" style=\"width:85.35pt\">fix\u00e9s dans les plans \u00e0</span><span class=\"f charStyle-49b0b1fa ps418\" style=\"width:1.84pt\"> </span></div><div class=\"ps677 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:179.93pt\">moyen terme. Toute UGT en forte croissance d</span><span class=\"f charStyle-165dec60 ps5629\" style=\"width:49.34pt\">ont la valeur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps678 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">d'utilit\u00e9 est substantiellement sup\u00e9rieure \u00e0 ses capitaux</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps679 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:157.1pt\">employ\u00e9s est exclue du p\u00e9rim\u00e8tre de test.</span><span class=\"f charStyle-165dec60 ps32524\" style=\"width:1.96pt\"> </span></div><div class=\"ps661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">Ces \u00e9l\u00e9ments pris en consid\u00e9ration, six UGT ont fait l\u2019objet</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:107.61pt\">d\u2019un test de d\u00e9pr\u00e9ciation au </span><span class=\"f charStyle-165dec60 ps32525\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps32526\" style=\"width:3.55pt\"> :</span></div><div class=\"ps15376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a7e38484 ps929\" style=\"width:2.35pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-8de4ecd0 ps930\" style=\"width:222.24pt\">l'Op\u00e9ration R\u00e9gionale Thermal Europe, rattach\u00e9e \u00e0 la Division</span><span class=\"f charStyle-8de4ecd0 ps450\" style=\"width:1.63pt\"> </span></div><div class=\"ps15377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8de4ecd0 ps930\" style=\"width:31.67pt\">POWER ;</span></div><div class=\"ps32527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">l'Op\u00e9ration R\u00e9gionale Drive Am\u00e9riques, rattach\u00e9e \u00e0 la</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps32529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:62.1pt\">Division POWER</span><span class=\"f charStyle-e8054d08 ps32528\" style=\"width:3.55pt\"> ;</span></div><div class=\"ps2390 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-0bb91e39 ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps930\" style=\"width:222.22pt\">l'Op\u00e9ration R\u00e9gionale Thermal Am\u00e9riques, rattach\u00e9e \u00e0 la</span><span class=\"f charStyle-42e3db84 ps460\" style=\"width:1.82pt\"> </span></div><div class=\"ps32532 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps930\" style=\"width:30.41pt\">Division </span><span class=\"f charStyle-165dec60 ps32530\" style=\"width:30.43pt\">POWER</span><span class=\"f charStyle-e8054d08 ps32531\" style=\"width:3.55pt\"> ;</span></div><div class=\"ps2395 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps930\" style=\"width:165.21pt\">la Ligne de Produits Connect, rattach\u00e9e</span><span class=\"f charStyle-165dec60 ps32533\" style=\"width:57pt\"> \u00e0 la Division</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2396 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:24.79pt\">BRAIN</span><span class=\"f charStyle-9c680f66 ps32534\" style=\"width:3.49pt\">\u00a0;</span></div><div class=\"ps2397 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps930\" style=\"width:222.22pt\">l\u2019activit\u00e9 Commandes sous volant, rattach\u00e9e \u00e0 la Division</span><span class=\"f charStyle-53279637 ps460\" style=\"width:1.85pt\"> </span></div><div class=\"ps32536 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps930\" style=\"width:24.24pt\">BRAIN</span><span class=\"f charStyle-165dec60 ps32535\" style=\"width:1.59pt\">;</span></div><div class=\"ps32537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">la Ligne de Produits Sp\u00e9ciaux - Syst\u00e8mes d'\u00c9clairage,</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps32538 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:109.11pt\">rattach\u00e9e \u00e0 la Division LIGHT.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-499": {
   "value": "<div class=\"ps11949 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.56pt\">Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps31715\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31716\" style=\"width:311.21pt\"> sont initialement reconnus lors d\u2019un regroupement d\u2019entreprises tel que d\u00e9crit en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31717\" style=\"width:34.64pt\">Note 3.1.3</span><span class=\"f charStyle-165dec60 ps31718\" style=\"width:37.74pt\">, page 391.</span><span class=\"f charStyle-165dec60 ps31719\" style=\"width:1.96pt\"> </span></div><div class=\"ps6537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:458.57pt\">Post\u00e9rieurement \u00e0 leur comptabilisation initiale, ils ne sont pas amortis mais font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation d\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d77d7991 ps29741\" style=\"width:1.91pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps31721 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77d7991 ps6588\" style=\"width:44.15pt\">l\u2019apparition <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31720\" style=\"width:414.49pt\">d\u2019indices de pertes de valeur et au minimum une fois par an. Les modalit\u00e9s des tests de d\u00e9pr\u00e9ciation r\u00e9alis\u00e9s</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps11953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.66pt\">sur </span><span class=\"f charStyle-165dec60 ps15725\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps30194\" style=\"width:63.98pt\"> sont d\u00e9crites en </span><span class=\"f charStyle-165dec60 ps31722\" style=\"width:31.27pt\">Note 7.4<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps31723\" style=\"width:63.92pt\">, pages 419 \u00e0 422.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations incorporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:20.42pt\">sont <span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps31768\" style=\"width:197.52pt\">\u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Les immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:48.32pt\">incorporelles </span><span class=\"f charStyle-165dec60 ps31769\" style=\"width:169.62pt\">acquises dans le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u2019entreprises sont comptabilis\u00e9es \u00e0 leur juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:123.53pt\">s\u00e9par\u00e9ment du goodwill. </span><span class=\"f charStyle-01aaed4f ps31770\" style=\"width:94.46pt\">Post\u00e9rieurement \u00e0 la</span><span class=\"f charStyle-01aaed4f ps412\" style=\"width:1.71pt\"> </span></div><div class=\"ps31772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-01aaed4f ps6588\" style=\"width:164.36pt\">comptabilisation initiale, les immobilisations</span><span class=\"f charStyle-165dec60 ps31771\" style=\"width:53.61pt\"> incorporelles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt diminu\u00e9 du cumul des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">amortissements et des pertes de valeur constat\u00e9es. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">immobilisations incorporelles font l\u2019objet de tests de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14132 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span><span class=\"f charStyle-165dec60 ps31775\" style=\"width:1.96pt\"> </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:217.99pt\">Les frais de d\u00e9veloppement inscrits dans les autres</span><span class=\"f charStyle-4177ffd9 ps412\" style=\"width:1.65pt\"> </span></div><div class=\"ps4908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:55.63pt\">immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5409\" style=\"width:6.61pt\"> </span><span class=\"f charStyle-367d076b ps31776\" style=\"width:155.72pt\">incorporelles de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-367d076b ps608\" style=\"width:1.88pt\"> </span></div><div class=\"ps4909 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:104.84pt\">financi\u00e8re correspondent </span><span class=\"f charStyle-165dec60 ps31777\" style=\"width:113.12pt\">\u00e0 des projets d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sp\u00e9cifique pour les clients, qui reposent sur des standards</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies d\u00e9j\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">appliqu\u00e9es en production. Ces projets font l\u2019objet d\u2019une</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">analyse au cas par cas afin de s\u2019assurer qu\u2019ils r\u00e9pondent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:176.81pt\">bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s en </span><span class=\"f charStyle-165dec60 ps31778\" style=\"width:39.52pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps837\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:66.07pt\">pages 399 et 400.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais encourus avant la d\u00e9cision formelle d\u2019entrer dans</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">le d\u00e9veloppement du produit sont enregistr\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:38.37pt\">charges d<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps31779\" style=\"width:179.6pt\">e la p\u00e9riode. Les frais encourus post\u00e9rieurement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16278\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.75pt\">au d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps31780\" style=\"width:163.21pt\"> de la production en s\u00e9rie sont trait\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">comme des co\u00fbts de production.</span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:217.96pt\">Les immobilisations incorporelles sont amorties selon la</span><span class=\"f charStyle-5dca4c00 ps16295\" style=\"width:1.74pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:33.36pt\">m\u00e9thode</span><span class=\"f charStyle-c8069515 ps31781\" style=\"width:184.59pt\"> lin\u00e9aire, en fonction des dur\u00e9es d\u2019utilisation</span><span class=\"f charStyle-c8069515 ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:30.9pt\">pr\u00e9vues\u00a0</span><span class=\"f charStyle-165dec60 ps31782\" style=\"width:1.59pt\">:<span class=\"f ps53\"> </span></span></div><div class=\"ps31792 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1990 ws0 ps407\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:108.75pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1985\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">logiciels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31784 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"padding:0\"><div class=\"ps513 ss1986\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">brevets et licences</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31786 ss1987\"><div><div class=\"ps526 ss292\"><span class=\"f charStyle-a696f64a ps3599\">en fonction des dur\u00e9es <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss292\"><span class=\"f charStyle-a696f64a ps28484\">d\u2019utilisation ou de </span></div><div class=\"ps527 ss292\"><span class=\"f charStyle-a696f64a ps31785\">protection<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps12723 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">frais de d\u00e9veloppement </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31788 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31787\">4 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps25614 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">actifs repr\u00e9sentatifs des </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">relations clients acquises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31790 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31789\">au maximum 25 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps9353 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">autres immobilisations </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31791 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations corporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Ce co\u00fbt inclut les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9penses qui sont directement li\u00e9es \u00e0 l\u2019acquisition du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62pt\">bien et le co\u00fbt </span><span class=\"f charStyle-9206869b ps32002\" style=\"width:155.92pt\">estim\u00e9 de l\u2019obligation de remise en \u00e9tat</span><span class=\"f charStyle-9206869b ps410\" style=\"width:1.9pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.96pt\">d\u2019une partie de l\u2019actif le cas \u00e9ch\u00e9ant. Les immobilisations</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:77.79pt\">corporelles acquises</span><span class=\"f charStyle-165dec60 ps20531\" style=\"width:28.09pt\"> dans <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps12028\" style=\"width:112.1pt\">le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:131.54pt\">d\u2019entreprises sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32003\" style=\"width:86.42pt\"> \u00e0 leur juste valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:59.85pt\">s\u00e9par\u00e9ment du </span><span class=\"f charStyle-e8054d08 ps32004\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32005\" style=\"width:1.59pt\">.</span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.98pt\">Post\u00e9rieurement \u00e0 la comptabilisation initiale, les</span><span class=\"f charStyle-6e7624cd ps431\" style=\"width:1.72pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:53.26pt\">immobilisation</span><span class=\"f charStyle-4177ffd9 ps32006\" style=\"width:8.87pt\">s </span><span class=\"f charStyle-165dec60 ps32007\" style=\"width:155.84pt\">corporelles sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diminu\u00e9 du cumul des amortissements et des pertes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">de\u00a0valeur constat\u00e9es. Les r\u00e9\u00e9valuations significatives,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:118.35pt\">pratiqu\u00e9es conform\u00e9ment aux </span><span class=\"f charStyle-81f42323 ps32008\" style=\"width:99.63pt\">dispositions r\u00e9glementaires</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:117.76pt\">des pays dans lesquels le Group</span><span class=\"f charStyle-5064d44f ps32009\" style=\"width:7.18pt\">e <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32010\" style=\"width:93.01pt\">op\u00e8re, ont \u00e9t\u00e9 \u00e9limin\u00e9es</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">pour assurer l\u2019homog\u00e9n\u00e9it\u00e9 de l\u2019ensemble des valeurs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:138.04pt\">immobilis\u00e9es \u00e0 l\u2019int\u00e9rieur du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps7320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.98pt\">Les d\u00e9penses ult\u00e9rieures sur immobilisations sont</span><span class=\"f charStyle-5d6922b3 ps431\" style=\"width:1.66pt\"> </span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:52.7pt\">comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32011\" style=\"width:165.25pt\"> en charges lorsqu\u2019elles sont encourues,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">sauf celles engag\u00e9es pour prolonger la dur\u00e9e de vie du</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.28pt\">bien.</span></div><div class=\"ps4982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les immobilisations corporelles font l\u2019objet d\u2019un test de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span></div><div class=\"ps32012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dur\u00e9e et m\u00e9thode d\u2019amortissement<span class=\"f ps53\"> </span><span id=\"i01d151d0c943432c8366ce9cda96fc24\"></span></span></div><div class=\"ps2615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les immobilisations corporelles, \u00e0 l\u2019exception des terrains,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2617 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:217.99pt\">sont amorties, selon l\u2019approche par composant, sur leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps412\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:21.78pt\">dur\u00e9e</span><span class=\"f charStyle-165dec60 ps32013\" style=\"width:79.44pt\"> d\u2019utilisation estim\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps2654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.94pt\">Les amortissements sont calcul\u00e9s selon la m\u00e9thode</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:28.63pt\">lin\u00e9aire,</span><span class=\"f charStyle-165dec60 ps32014\" style=\"width:147.8pt\"> en fonction de ces dur\u00e9es d\u2019utilisation\u00a0:</span></div><div class=\"ps32021 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2004 ws0 ps16265\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:170.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:51.43pt\">constructions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32016 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32015\">20 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps513 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:147.6pt\">agencements et installations g\u00e9n\u00e9rales</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32017 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps16602\">8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps519 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:138.23pt\">mat\u00e9riels et \u00e9quipements industriels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32019 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32018\">8 \u00e0 15 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps10356 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:129.33pt\">autres immobilisations corporelles</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32020 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps10066\">3 \u00e0 8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Outillages<span class=\"f ps53\"> </span><span id=\"ica3c0187ffe3443986d615323c7979f8\"></span></span></div><div class=\"ps32023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">En fonction de leur nature, les outillages sp\u00e9cifiques \u00e0 un</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">projet font l\u2019objet d\u2019une analyse de la relation</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">contractuelle avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:49.8pt\">contr\u00f4le de </span><span class=\"f charStyle-5064d44f ps27682\" style=\"width:168.13pt\">l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-5064d44f ps16299\" style=\"width:1.89pt\"> </span></div><div class=\"ps32027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:63.87pt\">sont immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps17770\" style=\"width:154.06pt\"> dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps13338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:91.19pt\">Groupe lorsque ce </span><span class=\"f charStyle-9c680f66 ps32028\" style=\"width:126.79pt\">contr\u00f4le revient \u00e0 Valeo ou</span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:130.72pt\">comptabilis\u00e9s en stocks (jusqu\u2019au</span><span class=\"f charStyle-165dec60 ps32029\" style=\"width:87.22pt\"> transfert de contr\u00f4le)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.53pt\">dans le cas contraire.<span class=\"f ps53\"> </span></span></div><div class=\"ps27020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:217.96pt\">Les \u00e9ventuels financements re\u00e7us des clients sur les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:40.15pt\">outillages <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32032\" style=\"width:177.8pt\">immobilis\u00e9s sont comptabilis\u00e9s au passif de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">l\u2019\u00e9tat de la situation financi\u00e8re et sont rapport\u00e9s au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.07pt\">compte de r\u00e9sultat </span><span class=\"f charStyle-81f42323 ps32033\" style=\"width:139.89pt\">en chiffre d\u2019affaires au m\u00eame rythme</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.03pt\">que les amortissements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32035\" style=\"width:49.84pt\"> de ces biens.</span></div><div class=\"ps27024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les outillages sont amortis selon la m\u00e9thode lin\u00e9aire sur</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps27025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:2.01pt\">l</span><span class=\"f charStyle-b2f078f6 ps32037\" style=\"width:215.94pt\">eur dur\u00e9e d\u2019utilisation estim\u00e9e, soit quatre ans au</span><span class=\"f charStyle-b2f078f6 ps16281\" style=\"width:1.83pt\"> </span></div><div class=\"ps27026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:39.87pt\">maximum.</span></div><div class=\"ps32038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Cr\u00e9dits d\u2019imp\u00f4t<span id=\"i21fd0949f90e4fcbb7ca8ce38d28b671\"></span></span></div><div class=\"ps17818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:217.96pt\">Dans certains pays, l\u2019\u00c9tat peut contribuer \u00e0 l\u2019effort</span><span class=\"f charStyle-5d6922b3 ps16295\" style=\"width:1.66pt\"> </span></div><div class=\"ps17110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:60.58pt\">d\u2019investissement </span><span class=\"f charStyle-165dec60 ps32039\" style=\"width:157.37pt\">du Groupe sous forme de cr\u00e9dits d\u2019imp\u00f4t.</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Une analyse de l\u2019aide re\u00e7ue est effectu\u00e9e afin de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps32040 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">d\u00e9terminer si elle entre dans le champ d\u2019application de la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le r\u00e9sultat\u00a0\u00bb ou si elle doit \u00eatre</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">consid\u00e9r\u00e9e comme une subvention publique. Dans ce</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">dernier cas, le cr\u00e9dit d\u2019imp\u00f4t sera reconnu au r\u00e9sultat sur</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">la p\u00e9riode d\u2019amortissement des actifs sous-jacents</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:200.67pt\">comme une r\u00e9duction de la charge d\u2019amortissement.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les immobilisations incorporelles et corporelles ayant une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.96pt\">dur\u00e9e d\u2019utilit\u00e9 d\u00e9termin\u00e9e font l\u2019objet de tests de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps608\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:45.53pt\">d\u00e9pr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps32396\" style=\"width:172.39pt\"> d\u00e8s lors qu\u2019il existe des indices objectifs de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:90.28pt\">perte de valeur. Les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps32397\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32398\" style=\"width:95.48pt\"> et les immobilisations</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">incorporelles non encore pr\u00eates \u00e0 \u00eatre mises en service</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">font l\u2019objet de tests de d\u00e9pr\u00e9ciation d\u00e8s l\u2019apparition</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.89pt\">d\u2019indices de perte de valeur et en tout \u00e9tat de cause au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.95pt\">minimum une fois par an.<span class=\"f ps53\"> </span></span></div><div class=\"ps32400 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie et <span id=\"iee563d9935cf4586a0d65c650a508101\"></span></span><span class=\"f charStyle-77ede7ab ps32399\">goodwill</span></div><div class=\"ps32401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les unit\u00e9s g\u00e9n\u00e9ratrices de tr\u00e9sorerie (UGT) sont des</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32403 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:31.23pt\">entit\u00e9s </span><span class=\"f charStyle-49b0b1fa ps32402\" style=\"width:186.73pt\">op\u00e9rationnelles g\u00e9n\u00e9rant des flux de tr\u00e9sorerie</span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> </span></div><div class=\"ps32405 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:62.15pt\">ind\u00e9pendants. </span><span class=\"f charStyle-56831d77 ps32404\" style=\"width:155.8pt\">Dans l\u2019organisation du Groupe, elles<span class=\"f ps53\"> </span></span><span class=\"f charStyle-56831d77 ps425\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps28150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-56831d77 ps6588\" style=\"width:105.63pt\">correspondent g\u00e9n\u00e9ralemen</span><span class=\"f charStyle-165dec60 ps32406\" style=\"width:112.32pt\">t \u00e0 des regroupements de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps21258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sites de production appartenant \u00e0 une m\u00eame Ligne de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Produits, au m\u00eame Groupe de Produits ou \u00e0 la m\u00eame<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.27pt\">Op\u00e9ration R\u00e9gionale. Au </span><span class=\"f charStyle-165dec60 ps32407\" style=\"width:69.08pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32408\" style=\"width:52.6pt\">, les UGT sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12039 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:64.13pt\">au nombre de 19.</span></div><div class=\"ps13986 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.95pt\">C\u2019est \u00e0 ce niveau que l\u2019ensemble des immobilisations</span><span class=\"f charStyle-5d6922b3 ps425\" style=\"width:1.66pt\"> </span></div><div class=\"ps13987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:41.26pt\">incorporelle</span><span class=\"f charStyle-165dec60 ps20276\" style=\"width:176.67pt\">s et corporelles est test\u00e9, en cas d\u2019indice de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">perte de valeur, \u00e0 l\u2019exception des immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13989 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:106.77pt\">incorporelles et corporelles </span><span class=\"f charStyle-81f42323 ps32409\" style=\"width:111.21pt\">inutilis\u00e9es qui font l\u2019objet d\u2019un</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps13990 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:114.41pt\">test de d\u00e9pr\u00e9ciation sp\u00e9cifique.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13598\" style=\"width:103.57pt\"> La survenance de facteurs</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13991 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">d\u00e9favorables d\u2019une significativit\u00e9 particuli\u00e8re et durable<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32410 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">pour le Groupe, tels que notamment la d\u00e9gradation de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32411 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">l\u2019environnement \u00e9conomique d\u2019un pays, d\u2019une usine ou</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps26638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de l\u2019existence de litiges contractuels, peut conduire le</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps26639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Groupe \u00e0 r\u00e9examiner la valeur d\u2019utilit\u00e9 des actifs affect\u00e9s</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">et \u00e0 reconnaitre une d\u00e9pr\u00e9ciation \u00e0 caract\u00e8re</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps12061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:146.4pt\">exceptionnel pour certains d\u2019entre eux.<span class=\"f ps53\"> </span></span></div><div class=\"ps32415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:14.66pt\">Les </span><span class=\"f charStyle-e8054d08 ps32413\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32414\" style=\"width:171.07pt\"> sont test\u00e9s au niveau des Divisions telles que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:68.28pt\">d\u00e9finies dans la </span><span class=\"f charStyle-165dec60 ps32416\" style=\"width:28.04pt\">Note 4</span><span class=\"f charStyle-165dec60 ps32417\" style=\"width:121.57pt\">, pages 393 \u00e0 395,\u00a0 relative \u00e0</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps21545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">l\u2019information sectorielle. Les Divisions correspondent \u00e0</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps21547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">des regroupements d\u2019UGT qui repr\u00e9sentent les niveaux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps21549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:47.9pt\">auxquels les </span><span class=\"f charStyle-e8054d08 ps32418\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5232\" style=\"width:95.48pt\"> sont suivis par le Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps687 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:15.14pt\">Les </span><span class=\"f charStyle-e8054d08 ps32419\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps26810\" style=\"width:170.62pt\"> font l\u2019objet d\u2019un test de d\u00e9pr\u00e9ciation annuel</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps688 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">en fin d\u2019ann\u00e9e suivant la m\u00eame m\u00e9thode et les m\u00eames</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps690 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">hypoth\u00e8ses que celles retenues pour les UGT, telles que</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps691 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:73.04pt\">d\u00e9crites ci-dessous.</span></div><div class=\"ps32420 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Test de d\u00e9pr\u00e9ciation<span id=\"ic9a3c56f230342709fdd88eb6c299abe\"></span></span></div><div class=\"ps21302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Le test de d\u00e9pr\u00e9ciation consiste \u00e0 comparer la valeur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps19237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.97pt\">recouvrable d\u2019un actif immobilis\u00e9 \u00e0 sa valeur nette</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps20381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:40.82pt\">comptable.</span><span class=\"f charStyle-165dec60 ps32421\" style=\"width:2.58pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps32422\" style=\"width:174.52pt\">Si la valeur comptable est sup\u00e9rieure \u00e0 la valeur</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps32424 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:44.02pt\">recouvrable,</span><span class=\"f charStyle-165dec60 ps32423\" style=\"width:173.95pt\"> l\u2019actif correspondant est ramen\u00e9 \u00e0 sa valeur</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps32425 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">recouvrable. La valeur recouvrable d\u2019un actif ou d\u2019un</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">groupe d\u2019actifs est la valeur la plus \u00e9lev\u00e9e entre sa juste</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps15259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:210.05pt\">valeur diminu\u00e9e des co\u00fbts de sortie et sa valeur d\u2019utilit\u00e9.</span></div><div class=\"ps19245 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La juste valeur diminu\u00e9e des co\u00fbts de sortie est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9termin\u00e9e sur la base des informations disponibles</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps6633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">permettant de r\u00e9aliser la meilleure estimation de la valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps15260 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">de vente nette des co\u00fbts n\u00e9cessaires pour r\u00e9aliser la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32426 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">vente, dans des conditions de concurrence normale entre</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:163.66pt\">des parties bien inform\u00e9es et consentantes.</span></div><div class=\"ps6637 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">La valeur d\u2019utilit\u00e9 correspond \u00e0 la valeur actuelle des flux</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">de tr\u00e9sorerie futurs que l\u2019on esp\u00e8re obtenir d\u2019un actif ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6639 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">d\u2019un groupe d\u2019actifs, en tenant compte de sa valeur</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps6640 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:37.99pt\">r\u00e9siduelle.</span></div><div class=\"ps6641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:103.35pt\">Pour les tests d\u2019UGT et de </span><span class=\"f charStyle-e8054d08 ps32428\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32429\" style=\"width:82.4pt\">, compte tenu du fait</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps6642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">qu\u2019il existe rarement une base fiable pour \u00e9valuer la juste</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">valeur diminu\u00e9e des co\u00fbts de sortie d\u2019un groupe d\u2019actifs</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">du Groupe, Valeo utilise, sauf indication contraire, la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">valeur d\u2019utilit\u00e9 pour d\u00e9terminer la valeur recouvrable d\u2019un</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:106.22pt\">actif ou d\u2019un groupe d\u2019actifs.<span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:125.78pt\">La valeur d\u2019utilit\u00e9 des UGT et des </span><span class=\"f charStyle-e8054d08 ps32430\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32431\" style=\"width:59.9pt\"> est d\u00e9termin\u00e9e</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.56pt\">selon la m\u00e9thode suivante\u00a0:</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les projections \u00e0 cinq ans des flux de tr\u00e9sorerie apr\u00e8s</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">imp\u00f4ts, \u00e9tablies \u00e0 partir des plans \u00e0 moyen terme</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">pr\u00e9par\u00e9s par les entit\u00e9s du Groupe et approuv\u00e9s par la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">Direction G\u00e9n\u00e9rale et le Conseil d\u2019Administration, sont</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:45.09pt\">actualis\u00e9es\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps2113 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.27pt\">au-del\u00e0 de ces cinq ann\u00e9es, les flux futurs de tr\u00e9sorerie \u00e0</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">perp\u00e9tuit\u00e9 sont extrapol\u00e9s \u00e0 partir d\u2019un taux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">croissance \u00e0 l\u2019infini appliqu\u00e9 sur la pr\u00e9vision de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4974 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">tr\u00e9sorerie normative, qui correspond \u00e0 celle de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:138.43pt\">derni\u00e8re ann\u00e9e du plan moyen </span><span class=\"f charStyle-9c680f66 ps32432\" style=\"width:73.86pt\">terme, retrait\u00e9e si</span><span class=\"f charStyle-9c680f66 ps16295\" style=\"width:1.93pt\"> </span></div><div class=\"ps4978 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps26704\" style=\"width:152.34pt\">n\u00e9cessaire des \u00e9l\u00e9ments non r\u00e9currents\u00a0;</span></div><div class=\"ps30237 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.32pt\">l\u2019actualisation des flux de tr\u00e9sorerie est effectu\u00e9e selon</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps30239 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">un taux qui refl\u00e8te l\u2019appr\u00e9ciation courante du march\u00e9</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8855 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">de la valeur temps de l\u2019argent et des risques sp\u00e9cifiques</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps8856 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.24pt\">\u00e0 l\u2019actif (ou groupe d\u2019actifs). Ce taux correspond au co\u00fbt</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps8857 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">moyen pond\u00e9r\u00e9 du capital (WACC) apr\u00e8s imp\u00f4ts.</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps8858 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:64.67pt\">L\u2019utilisation d\u2019un </span><span class=\"f charStyle-81f42323 ps32433\" style=\"width:147.65pt\">taux apr\u00e8s imp\u00f4ts appliqu\u00e9 \u00e0 des flux de</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps8859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:67.99pt\">tr\u00e9sorerie fiscalis\u00e9s</span><span class=\"f charStyle-165dec60 ps32434\" style=\"width:3.05pt\"> </span><span class=\"f charStyle-367d076b ps32435\" style=\"width:141.25pt\">aboutit \u00e0 la d\u00e9termination de valeurs</span><span class=\"f charStyle-367d076b ps16295\" style=\"width:1.88pt\"> </span></div><div class=\"ps9641 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps26704\" style=\"width:80.45pt\">recouvrables similaire</span><span class=\"f charStyle-81f42323 ps32436\" style=\"width:3.48pt\">s</span><span class=\"f charStyle-165dec60 ps32437\" style=\"width:128.36pt\"> \u00e0 celles obtenues en utilisant des</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9642 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:207.63pt\">taux avant imp\u00f4ts \u00e0 des flux de tr\u00e9sorerie non fiscalis\u00e9s.</span></div><div class=\"ps8863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:217.95pt\">Dans certaines circonstances o\u00f9 l'application de cette</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps8865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:34.27pt\">m\u00e9thode</span><span class=\"f charStyle-165dec60 ps32438\" style=\"width:183.66pt\"> n'est pas appropri\u00e9e pour d\u00e9terminer la valeur</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:108.97pt\">d'utilit\u00e9 d'une UGT ou d'un </span><span class=\"f charStyle-e8054d08 ps32439\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps32440\" style=\"width:76.73pt\">, des projections de</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">flux de tr\u00e9sorerie au-del\u00e0 de cinq ans peuvent \u00eatre</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20016 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">utilis\u00e9es. Cela peut \u00eatre le cas pour des march\u00e9s en forte</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps20017 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.9pt\">croissance qui ne seront pas matures en fin de plan ainsi</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps20019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">que pour les activit\u00e9s avec un horizon de temps fini.</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps16317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Lorsque cette m\u00e9thode est appliqu\u00e9e, le plan d'affaires</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps20020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">au-del\u00e0 de cinq ans est \u00e9tabli \u00e0 partir des donn\u00e9es de</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps20021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:123.25pt\">march\u00e9 les plus fiables possibles.</span><span class=\"f charStyle-165dec60 ps32441\" style=\"width:1.96pt\"> </span></div><div class=\"ps22328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Les contrats de location dans le champ d'application de la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps22330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IFRS 16 \u00ab\u00a0Contrats de location\u00a0\u00bb sont trait\u00e9s de la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.85pt\">mani\u00e8re suivante\u00a0:</span></div><div class=\"ps8880 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a33a3989 ps448\" style=\"width:2.61pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps26704\" style=\"width:212.27pt\">les capitaux employ\u00e9s test\u00e9s incluent les droits</span><span class=\"f charStyle-5064d44f ps16283\" style=\"width:1.89pt\"> </span></div><div class=\"ps8881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps26704\" style=\"width:46.18pt\">d\u2019utilisation ;</span></div><div class=\"ps12430 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.25pt\">le co\u00fbt moyen pond\u00e9r\u00e9 du capital (WACC) apr\u00e8s imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps12431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.3pt\">est d\u00e9termin\u00e9 en tenant compte des dettes sur biens</span><span class=\"f charStyle-165dec60 ps29668\" style=\"width:1.96pt\"> </span></div><div class=\"ps12432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:21.53pt\">lou\u00e9s.</span></div><div class=\"ps32444 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.73pt\">Une perte de valeur comptabilis\u00e9e au titre d\u2019un </span><span class=\"f charStyle-e8054d08 ps32443\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32445 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.67pt\">ne peut \u00eatre reprise.</span></div><div class=\"ps26610 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:184.16pt\">Une perte de valeur, sur un actif autre qu\u2019un </span><span class=\"f charStyle-e8054d08 ps32446\" style=\"width:32.23pt\">goodwill</span><span class=\"f charStyle-165dec60 ps31604\" style=\"width:1.59pt\">,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32447 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">peut \u00eatre reprise s\u2019il existe des indices que la perte de</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32449 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:31.6pt\">valeur a </span><span class=\"f charStyle-1abed7d4 ps32448\" style=\"width:186.3pt\">diminu\u00e9 ou n\u2019existe plus. Le montant de la reprise</span><span class=\"f charStyle-1abed7d4 ps29741\" style=\"width:1.93pt\"> </span></div><div class=\"ps30672 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps448\" style=\"width:41.65pt\">\u00e9ventuelle </span><span class=\"f charStyle-165dec60 ps32450\" style=\"width:176.33pt\">est alors bas\u00e9 sur les nouvelles estimations de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32451 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">sa valeur recouvrable. La valeur comptable d\u2019un actif,</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">augment\u00e9e en raison de la reprise d\u2019une perte de valeur</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">ne peut \u00eatre sup\u00e9rieure \u00e0 la valeur comptable qui aurait</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">\u00e9t\u00e9 d\u00e9termin\u00e9e si aucune perte de valeur n\u2019avait \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:54.83pt\">comptabilis\u00e9e.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-502": {
   "value": "<div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations incorporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:20.42pt\">sont <span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps31768\" style=\"width:197.52pt\">\u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Les immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:48.32pt\">incorporelles </span><span class=\"f charStyle-165dec60 ps31769\" style=\"width:169.62pt\">acquises dans le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u2019entreprises sont comptabilis\u00e9es \u00e0 leur juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:123.53pt\">s\u00e9par\u00e9ment du goodwill. </span><span class=\"f charStyle-01aaed4f ps31770\" style=\"width:94.46pt\">Post\u00e9rieurement \u00e0 la</span><span class=\"f charStyle-01aaed4f ps412\" style=\"width:1.71pt\"> </span></div><div class=\"ps31772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-01aaed4f ps6588\" style=\"width:164.36pt\">comptabilisation initiale, les immobilisations</span><span class=\"f charStyle-165dec60 ps31771\" style=\"width:53.61pt\"> incorporelles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt diminu\u00e9 du cumul des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">amortissements et des pertes de valeur constat\u00e9es. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">immobilisations incorporelles font l\u2019objet de tests de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14132 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span><span class=\"f charStyle-165dec60 ps31775\" style=\"width:1.96pt\"> </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:217.99pt\">Les frais de d\u00e9veloppement inscrits dans les autres</span><span class=\"f charStyle-4177ffd9 ps412\" style=\"width:1.65pt\"> </span></div><div class=\"ps4908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:55.63pt\">immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5409\" style=\"width:6.61pt\"> </span><span class=\"f charStyle-367d076b ps31776\" style=\"width:155.72pt\">incorporelles de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-367d076b ps608\" style=\"width:1.88pt\"> </span></div><div class=\"ps4909 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:104.84pt\">financi\u00e8re correspondent </span><span class=\"f charStyle-165dec60 ps31777\" style=\"width:113.12pt\">\u00e0 des projets d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sp\u00e9cifique pour les clients, qui reposent sur des standards</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies d\u00e9j\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">appliqu\u00e9es en production. Ces projets font l\u2019objet d\u2019une</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">analyse au cas par cas afin de s\u2019assurer qu\u2019ils r\u00e9pondent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:176.81pt\">bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s en </span><span class=\"f charStyle-165dec60 ps31778\" style=\"width:39.52pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps837\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:66.07pt\">pages 399 et 400.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais encourus avant la d\u00e9cision formelle d\u2019entrer dans</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">le d\u00e9veloppement du produit sont enregistr\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:38.37pt\">charges d<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps31779\" style=\"width:179.6pt\">e la p\u00e9riode. Les frais encourus post\u00e9rieurement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16278\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.75pt\">au d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps31780\" style=\"width:163.21pt\"> de la production en s\u00e9rie sont trait\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">comme des co\u00fbts de production.</span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:217.96pt\">Les immobilisations incorporelles sont amorties selon la</span><span class=\"f charStyle-5dca4c00 ps16295\" style=\"width:1.74pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:33.36pt\">m\u00e9thode</span><span class=\"f charStyle-c8069515 ps31781\" style=\"width:184.59pt\"> lin\u00e9aire, en fonction des dur\u00e9es d\u2019utilisation</span><span class=\"f charStyle-c8069515 ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:30.9pt\">pr\u00e9vues\u00a0</span><span class=\"f charStyle-165dec60 ps31782\" style=\"width:1.59pt\">:<span class=\"f ps53\"> </span></span></div><div class=\"ps31792 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1990 ws0 ps407\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:108.75pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1985\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">logiciels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31784 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"padding:0\"><div class=\"ps513 ss1986\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">brevets et licences</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31786 ss1987\"><div><div class=\"ps526 ss292\"><span class=\"f charStyle-a696f64a ps3599\">en fonction des dur\u00e9es <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss292\"><span class=\"f charStyle-a696f64a ps28484\">d\u2019utilisation ou de </span></div><div class=\"ps527 ss292\"><span class=\"f charStyle-a696f64a ps31785\">protection<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps12723 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">frais de d\u00e9veloppement </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31788 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31787\">4 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps25614 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">actifs repr\u00e9sentatifs des </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">relations clients acquises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31790 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31789\">au maximum 25 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps9353 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">autres immobilisations </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31791 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-501": {
   "value": "<div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations incorporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:20.42pt\">sont <span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps31768\" style=\"width:197.52pt\">\u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Les immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-05bafb21 ps610\" style=\"width:1.68pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:48.32pt\">incorporelles </span><span class=\"f charStyle-165dec60 ps31769\" style=\"width:169.62pt\">acquises dans le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u2019entreprises sont comptabilis\u00e9es \u00e0 leur juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:123.53pt\">s\u00e9par\u00e9ment du goodwill. </span><span class=\"f charStyle-01aaed4f ps31770\" style=\"width:94.46pt\">Post\u00e9rieurement \u00e0 la</span><span class=\"f charStyle-01aaed4f ps412\" style=\"width:1.71pt\"> </span></div><div class=\"ps31772 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-01aaed4f ps6588\" style=\"width:164.36pt\">comptabilisation initiale, les immobilisations</span><span class=\"f charStyle-165dec60 ps31771\" style=\"width:53.61pt\"> incorporelles</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt diminu\u00e9 du cumul des</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">amortissements et des pertes de valeur constat\u00e9es. Les</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps14128 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">immobilisations incorporelles font l\u2019objet de tests de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps14130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14132 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span><span class=\"f charStyle-165dec60 ps31775\" style=\"width:1.96pt\"> </span></div><div class=\"ps4907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:217.99pt\">Les frais de d\u00e9veloppement inscrits dans les autres</span><span class=\"f charStyle-4177ffd9 ps412\" style=\"width:1.65pt\"> </span></div><div class=\"ps4908 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4177ffd9 ps6588\" style=\"width:55.63pt\">immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps5409\" style=\"width:6.61pt\"> </span><span class=\"f charStyle-367d076b ps31776\" style=\"width:155.72pt\">incorporelles de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-367d076b ps608\" style=\"width:1.88pt\"> </span></div><div class=\"ps4909 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:104.84pt\">financi\u00e8re correspondent </span><span class=\"f charStyle-165dec60 ps31777\" style=\"width:113.12pt\">\u00e0 des projets d\u2019application<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sp\u00e9cifique pour les clients, qui reposent sur des standards</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9riques valid\u00e9s ou sur des technologies d\u00e9j\u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">appliqu\u00e9es en production. Ces projets font l\u2019objet d\u2019une</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps4913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">analyse au cas par cas afin de s\u2019assurer qu\u2019ils r\u00e9pondent</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps5270 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:176.81pt\">bien aux crit\u00e8res de capitalisation \u00e9nonc\u00e9s en </span><span class=\"f charStyle-165dec60 ps31778\" style=\"width:39.52pt\">Note 5.5.1.1</span><span class=\"f charStyle-165dec60 ps837\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps5271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:66.07pt\">pages 399 et 400.</span></div><div class=\"ps4892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Les frais encourus avant la d\u00e9cision formelle d\u2019entrer dans</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps4893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">le d\u00e9veloppement du produit sont enregistr\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps4894 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:38.37pt\">charges d<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps31779\" style=\"width:179.6pt\">e la p\u00e9riode. Les frais encourus post\u00e9rieurement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16278\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4895 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.75pt\">au d\u00e9marrage</span><span class=\"f charStyle-165dec60 ps31780\" style=\"width:163.21pt\"> de la production en s\u00e9rie sont trait\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps4896 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:124.26pt\">comme des co\u00fbts de production.</span></div><div class=\"ps4897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:217.96pt\">Les immobilisations incorporelles sont amorties selon la</span><span class=\"f charStyle-5dca4c00 ps16295\" style=\"width:1.74pt\"> </span></div><div class=\"ps4899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:33.36pt\">m\u00e9thode</span><span class=\"f charStyle-c8069515 ps31781\" style=\"width:184.59pt\"> lin\u00e9aire, en fonction des dur\u00e9es d\u2019utilisation</span><span class=\"f charStyle-c8069515 ps16281\" style=\"width:1.84pt\"> </span></div><div class=\"ps4901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:30.9pt\">pr\u00e9vues\u00a0</span><span class=\"f charStyle-165dec60 ps31782\" style=\"width:1.59pt\">:<span class=\"f ps53\"> </span></span></div><div class=\"ps31792 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss1990 ws0 ps407\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:108.75pt\"></td><td style=\"padding:0;width:110.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1985\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">logiciels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31784 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"padding:0\"><div class=\"ps513 ss1986\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">brevets et licences</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31786 ss1987\"><div><div class=\"ps526 ss292\"><span class=\"f charStyle-a696f64a ps3599\">en fonction des dur\u00e9es <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss292\"><span class=\"f charStyle-a696f64a ps28484\">d\u2019utilisation ou de </span></div><div class=\"ps527 ss292\"><span class=\"f charStyle-a696f64a ps31785\">protection<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps12723 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">frais de d\u00e9veloppement </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31788 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31787\">4 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps25614 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">actifs repr\u00e9sentatifs des </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">relations clients acquises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31790 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31789\">au maximum 25 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps9353 ss1988\"><div><div class=\"ps1114 ss1984\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">autres immobilisations </span></div><div class=\"ps1306 ss1984\"><span class=\"f charStyle-165dec60 ps511\">incorporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"padding:0\"><div class=\"ps31791 ss1989\"><div><div class=\"ps516 ss292\"><span class=\"f charStyle-a696f64a ps31783\">3 \u00e0 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations corporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Ce co\u00fbt inclut les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9penses qui sont directement li\u00e9es \u00e0 l\u2019acquisition du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62pt\">bien et le co\u00fbt </span><span class=\"f charStyle-9206869b ps32002\" style=\"width:155.92pt\">estim\u00e9 de l\u2019obligation de remise en \u00e9tat</span><span class=\"f charStyle-9206869b ps410\" style=\"width:1.9pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.96pt\">d\u2019une partie de l\u2019actif le cas \u00e9ch\u00e9ant. Les immobilisations</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:77.79pt\">corporelles acquises</span><span class=\"f charStyle-165dec60 ps20531\" style=\"width:28.09pt\"> dans <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps12028\" style=\"width:112.1pt\">le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:131.54pt\">d\u2019entreprises sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32003\" style=\"width:86.42pt\"> \u00e0 leur juste valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:59.85pt\">s\u00e9par\u00e9ment du </span><span class=\"f charStyle-e8054d08 ps32004\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32005\" style=\"width:1.59pt\">.</span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.98pt\">Post\u00e9rieurement \u00e0 la comptabilisation initiale, les</span><span class=\"f charStyle-6e7624cd ps431\" style=\"width:1.72pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:53.26pt\">immobilisation</span><span class=\"f charStyle-4177ffd9 ps32006\" style=\"width:8.87pt\">s </span><span class=\"f charStyle-165dec60 ps32007\" style=\"width:155.84pt\">corporelles sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diminu\u00e9 du cumul des amortissements et des pertes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">de\u00a0valeur constat\u00e9es. Les r\u00e9\u00e9valuations significatives,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:118.35pt\">pratiqu\u00e9es conform\u00e9ment aux </span><span class=\"f charStyle-81f42323 ps32008\" style=\"width:99.63pt\">dispositions r\u00e9glementaires</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:117.76pt\">des pays dans lesquels le Group</span><span class=\"f charStyle-5064d44f ps32009\" style=\"width:7.18pt\">e <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32010\" style=\"width:93.01pt\">op\u00e8re, ont \u00e9t\u00e9 \u00e9limin\u00e9es</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">pour assurer l\u2019homog\u00e9n\u00e9it\u00e9 de l\u2019ensemble des valeurs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:138.04pt\">immobilis\u00e9es \u00e0 l\u2019int\u00e9rieur du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps7320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.98pt\">Les d\u00e9penses ult\u00e9rieures sur immobilisations sont</span><span class=\"f charStyle-5d6922b3 ps431\" style=\"width:1.66pt\"> </span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:52.7pt\">comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32011\" style=\"width:165.25pt\"> en charges lorsqu\u2019elles sont encourues,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">sauf celles engag\u00e9es pour prolonger la dur\u00e9e de vie du</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.28pt\">bien.</span></div><div class=\"ps4982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les immobilisations corporelles font l\u2019objet d\u2019un test de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span></div><div class=\"ps32012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dur\u00e9e et m\u00e9thode d\u2019amortissement<span class=\"f ps53\"> </span><span id=\"i01d151d0c943432c8366ce9cda96fc24\"></span></span></div><div class=\"ps2615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les immobilisations corporelles, \u00e0 l\u2019exception des terrains,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2617 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:217.99pt\">sont amorties, selon l\u2019approche par composant, sur leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps412\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:21.78pt\">dur\u00e9e</span><span class=\"f charStyle-165dec60 ps32013\" style=\"width:79.44pt\"> d\u2019utilisation estim\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps2654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.94pt\">Les amortissements sont calcul\u00e9s selon la m\u00e9thode</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:28.63pt\">lin\u00e9aire,</span><span class=\"f charStyle-165dec60 ps32014\" style=\"width:147.8pt\"> en fonction de ces dur\u00e9es d\u2019utilisation\u00a0:</span></div><div class=\"ps32021 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2004 ws0 ps16265\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:170.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:51.43pt\">constructions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32016 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32015\">20 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps513 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:147.6pt\">agencements et installations g\u00e9n\u00e9rales</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32017 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps16602\">8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps519 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:138.23pt\">mat\u00e9riels et \u00e9quipements industriels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32019 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32018\">8 \u00e0 15 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps10356 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:129.33pt\">autres immobilisations corporelles</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32020 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps10066\">3 \u00e0 8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Outillages<span class=\"f ps53\"> </span><span id=\"ica3c0187ffe3443986d615323c7979f8\"></span></span></div><div class=\"ps32023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">En fonction de leur nature, les outillages sp\u00e9cifiques \u00e0 un</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">projet font l\u2019objet d\u2019une analyse de la relation</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">contractuelle avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:49.8pt\">contr\u00f4le de </span><span class=\"f charStyle-5064d44f ps27682\" style=\"width:168.13pt\">l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-5064d44f ps16299\" style=\"width:1.89pt\"> </span></div><div class=\"ps32027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:63.87pt\">sont immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps17770\" style=\"width:154.06pt\"> dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps13338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:91.19pt\">Groupe lorsque ce </span><span class=\"f charStyle-9c680f66 ps32028\" style=\"width:126.79pt\">contr\u00f4le revient \u00e0 Valeo ou</span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:130.72pt\">comptabilis\u00e9s en stocks (jusqu\u2019au</span><span class=\"f charStyle-165dec60 ps32029\" style=\"width:87.22pt\"> transfert de contr\u00f4le)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.53pt\">dans le cas contraire.<span class=\"f ps53\"> </span></span></div><div class=\"ps27020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:217.96pt\">Les \u00e9ventuels financements re\u00e7us des clients sur les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:40.15pt\">outillages <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32032\" style=\"width:177.8pt\">immobilis\u00e9s sont comptabilis\u00e9s au passif de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">l\u2019\u00e9tat de la situation financi\u00e8re et sont rapport\u00e9s au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.07pt\">compte de r\u00e9sultat </span><span class=\"f charStyle-81f42323 ps32033\" style=\"width:139.89pt\">en chiffre d\u2019affaires au m\u00eame rythme</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.03pt\">que les amortissements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32035\" style=\"width:49.84pt\"> de ces biens.</span></div><div class=\"ps27024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les outillages sont amortis selon la m\u00e9thode lin\u00e9aire sur</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps27025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:2.01pt\">l</span><span class=\"f charStyle-b2f078f6 ps32037\" style=\"width:215.94pt\">eur dur\u00e9e d\u2019utilisation estim\u00e9e, soit quatre ans au</span><span class=\"f charStyle-b2f078f6 ps16281\" style=\"width:1.83pt\"> </span></div><div class=\"ps27026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:39.87pt\">maximum.</span></div><div class=\"ps32038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Cr\u00e9dits d\u2019imp\u00f4t<span id=\"i21fd0949f90e4fcbb7ca8ce38d28b671\"></span></span></div><div class=\"ps17818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:217.96pt\">Dans certains pays, l\u2019\u00c9tat peut contribuer \u00e0 l\u2019effort</span><span class=\"f charStyle-5d6922b3 ps16295\" style=\"width:1.66pt\"> </span></div><div class=\"ps17110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:60.58pt\">d\u2019investissement </span><span class=\"f charStyle-165dec60 ps32039\" style=\"width:157.37pt\">du Groupe sous forme de cr\u00e9dits d\u2019imp\u00f4t.</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Une analyse de l\u2019aide re\u00e7ue est effectu\u00e9e afin de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps32040 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">d\u00e9terminer si elle entre dans le champ d\u2019application de la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le r\u00e9sultat\u00a0\u00bb ou si elle doit \u00eatre</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">consid\u00e9r\u00e9e comme une subvention publique. Dans ce</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">dernier cas, le cr\u00e9dit d\u2019imp\u00f4t sera reconnu au r\u00e9sultat sur</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">la p\u00e9riode d\u2019amortissement des actifs sous-jacents</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:200.67pt\">comme une r\u00e9duction de la charge d\u2019amortissement.</span></div><div class=\"ps32286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Droit d\u2019utilisation<span id=\"i08ce7ec2d6b0406b8b84eba8aeb01f18\"></span></span></div><div class=\"ps20022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00c0 la date de prise d\u2019effet du contrat de location, le droit</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps20023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">d\u2019utilisation est \u00e9valu\u00e9 \u00e0 son co\u00fbt et comprend (i) le montant</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">initial de la dette auquel sont ajout\u00e9s, s\u2019il y a lieu, (ii) les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">paiements d\u2019avance faits au loueur, nets le cas \u00e9ch\u00e9ant,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps16181 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des avantages re\u00e7us du bailleur, (iii) les co\u00fbts directs</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20029 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initiaux encourus par le preneur pour la conclusion du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps20030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">contrat ainsi que (iv) l\u2019estimation des co\u00fbts de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9mant\u00e8lement ou de remise en \u00e9tat du bien lou\u00e9 selon</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.99pt\">les termes du contrat.</span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Ce montant est ensuite diminu\u00e9 des amortissements et</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20.98pt\">des p</span><span class=\"f charStyle-c709af45 ps32287\" style=\"width:196.97pt\">ertes de valeur constat\u00e9s. Les droits d\u2019utilisation sont</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:28.15pt\">amortis</span><span class=\"f charStyle-165dec60 ps32288\" style=\"width:189.84pt\"> selon la m\u00e9thode lin\u00e9aire. Les agencements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">indissociables des biens lou\u00e9s sont amortis sur la dur\u00e9e la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">plus courte entre la dur\u00e9e du contrat retenue et la dur\u00e9e</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.48pt\">d\u2019utilisation estim\u00e9e.</span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Lorsque le contrat a pour effet de transf\u00e9rer au preneur la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.08pt\">pr</span><span class=\"f charStyle-4afdd138 ps32289\" style=\"width:209.9pt\">opri\u00e9t\u00e9 du bien ou lorsqu\u2019il comprend une option</span><span class=\"f charStyle-4afdd138 ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:27.42pt\">d\u2019achat</span><span class=\"f charStyle-165dec60 ps20602\" style=\"width:190.54pt\">, qui sera exerc\u00e9e avec une certitude raisonnable,</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.55pt\">le droit </span><span class=\"f charStyle-81f42323 ps32290\" style=\"width:188.41pt\">d\u2019utilisation est amorti sur la dur\u00e9e d\u2019utilit\u00e9 de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:38.41pt\">sous-jacen</span><span class=\"f charStyle-165dec60 ps32291\" style=\"width:179.54pt\">t selon les m\u00eames conditions que celles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.02pt\">appliqu\u00e9es aux actifs d</span><span class=\"f charStyle-4afdd138 ps32292\" style=\"width:128.95pt\">\u00e9tenus en propre. Dans les autres</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:105.46pt\">cas, les droits d\u2019utilisation</span><span class=\"f charStyle-165dec60 ps32293\" style=\"width:5.98pt\"> </span><span class=\"f charStyle-c8069515 ps32294\" style=\"width:106.48pt\">sont amortis sur la dur\u00e9e</span><span class=\"f charStyle-c8069515 ps16293\" style=\"width:1.84pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:146.66pt\">d\u2019utilisation raisonnablement certaine</span><span class=\"f charStyle-165dec60 ps32295\" style=\"width:71.32pt\"> des actifs sous-</span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.58pt\">jacents.</span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.99pt\">Par la suite, la dette et le droit d\u2019utilisation de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps2269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:40.97pt\">sous\u2011jacent</span><span class=\"f charStyle-4afdd138 ps32296\" style=\"width:11.47pt\"> d</span><span class=\"f charStyle-367d076b ps32297\" style=\"width:165.5pt\">oivent \u00eatre r\u00e9-estim\u00e9s pour prendre en</span><span class=\"f charStyle-367d076b ps16283\" style=\"width:1.88pt\"> </span></div><div class=\"ps2271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:75.03pt\">compte les situation</span><span class=\"f charStyle-165dec60 ps32298\" style=\"width:44.66pt\">s suivantes\u00a0:</span></div><div class=\"ps2344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:128.78pt\">la r\u00e9vision de la dur\u00e9e de location\u00a0;</span></div><div class=\"ps6665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">toute modification li\u00e9e \u00e0 l\u2019\u00e9valuation du caract\u00e8re</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:70.22pt\">raisonnablement </span><span class=\"f charStyle-73c14ed6 ps32299\" style=\"width:142.09pt\">certain (ou non) de l\u2019exercice d\u2019une</span><span class=\"f charStyle-73c14ed6 ps29662\" style=\"width:1.75pt\"> </span></div><div class=\"ps6431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps26704\" style=\"width:26.47pt\">option\u00a0;</span></div><div class=\"ps6731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:190.18pt\">la r\u00e9-estimation des garanties de valeur r\u00e9siduelle\u00a0;</span></div><div class=\"ps2432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">la r\u00e9vision des taux ou indices sur lesquels sont bas\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2433 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:37.67pt\">les\u00a0loyers ;</span></div><div class=\"ps32300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-7cdc335a ps448\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\">les modifications des montants de loyers.</span></div><div class=\"ps18521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les principales exemptions pr\u00e9vues par la norme et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:158.05pt\">retenues par le Groupe sont les suivantes\u00a0:</span></div><div class=\"ps18435 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:149.33pt\">exclusion des contrats de courte dur\u00e9e\u00a0;</span></div><div class=\"ps18522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps448\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.29pt\">exclusion des contrats portant sur des actifs de faible</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps18437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:23.39pt\">valeur.</span></div><div class=\"ps6619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les loyers relatifs aux contrats de location exclus du</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">champ d'application de la norme IFRS 16 ainsi que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">paiements variables, non pris en compte lors de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">l\u2019\u00e9valuation initiale de la dette, sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps6742 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">charges op\u00e9rationnelles et sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:129.27pt\">nets de tr\u00e9sorerie des activit\u00e9s </span><span class=\"f charStyle-5dca4c00 ps32302\" style=\"width:88.68pt\">op\u00e9rationnelles, dans le</span><span class=\"f charStyle-5dca4c00 ps16281\" style=\"width:1.74pt\"> </span></div><div class=\"ps6744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:141.43pt\">tableau des flux de tr\u00e9sorerie consolid\u00e9s</span><span class=\"f charStyle-165dec60 ps32303\" style=\"width:1.59pt\">.</span></div><div class=\"ps9286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les paiements relatifs aux contrats de location entrants<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">dans le champ d'application de la norme IFRS 16 sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">ventil\u00e9s entre la charge financi\u00e8re et le remboursement</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.36pt\">du principal </span><span class=\"f charStyle-81993cb5 ps7158\" style=\"width:170.59pt\">du passif locatif. Ils sont reconnus dans les flux</span><span class=\"f charStyle-81993cb5 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps21273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:52.64pt\">sur op\u00e9rations</span><span class=\"f charStyle-165dec60 ps14962\" style=\"width:165.35pt\"> de financement, dans le tableau des flux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">tr\u00e9sorerie consolid\u00e9s. La part relative au remboursement</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">du principal du passif locatif est r\u00e9int\u00e9gr\u00e9e dans la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.49pt\">d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps32304\" style=\"width:35.83pt\">cash flow</span><span class=\"f charStyle-165dec60 ps32305\" style=\"width:20.18pt\"> libre.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-503": {
   "value": "<div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">Les immobilisations corporelles acquises s\u00e9par\u00e9ment<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">sont \u00e9valu\u00e9es initialement \u00e0 leur co\u00fbt. Ce co\u00fbt inclut les</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">d\u00e9penses qui sont directement li\u00e9es \u00e0 l\u2019acquisition du</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:62pt\">bien et le co\u00fbt </span><span class=\"f charStyle-9206869b ps32002\" style=\"width:155.92pt\">estim\u00e9 de l\u2019obligation de remise en \u00e9tat</span><span class=\"f charStyle-9206869b ps410\" style=\"width:1.9pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.96pt\">d\u2019une partie de l\u2019actif le cas \u00e9ch\u00e9ant. Les immobilisations</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:77.79pt\">corporelles acquises</span><span class=\"f charStyle-165dec60 ps20531\" style=\"width:28.09pt\"> dans <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps12028\" style=\"width:112.1pt\">le cadre d\u2019un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:131.54pt\">d\u2019entreprises sont comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32003\" style=\"width:86.42pt\"> \u00e0 leur juste valeur</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:59.85pt\">s\u00e9par\u00e9ment du </span><span class=\"f charStyle-e8054d08 ps32004\" style=\"width:32.23pt\">goodwill<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32005\" style=\"width:1.59pt\">.</span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.98pt\">Post\u00e9rieurement \u00e0 la comptabilisation initiale, les</span><span class=\"f charStyle-6e7624cd ps431\" style=\"width:1.72pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:53.26pt\">immobilisation</span><span class=\"f charStyle-4177ffd9 ps32006\" style=\"width:8.87pt\">s </span><span class=\"f charStyle-165dec60 ps32007\" style=\"width:155.84pt\">corporelles sont \u00e9valu\u00e9es \u00e0 leur co\u00fbt<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diminu\u00e9 du cumul des amortissements et des pertes</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">de\u00a0valeur constat\u00e9es. Les r\u00e9\u00e9valuations significatives,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps14901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:118.35pt\">pratiqu\u00e9es conform\u00e9ment aux </span><span class=\"f charStyle-81f42323 ps32008\" style=\"width:99.63pt\">dispositions r\u00e9glementaires</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps14902 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:117.76pt\">des pays dans lesquels le Group</span><span class=\"f charStyle-5064d44f ps32009\" style=\"width:7.18pt\">e <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32010\" style=\"width:93.01pt\">op\u00e8re, ont \u00e9t\u00e9 \u00e9limin\u00e9es</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps14903 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">pour assurer l\u2019homog\u00e9n\u00e9it\u00e9 de l\u2019ensemble des valeurs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14904 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:138.04pt\">immobilis\u00e9es \u00e0 l\u2019int\u00e9rieur du Groupe.<span class=\"f ps53\"> </span></span></div><div class=\"ps7320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:217.98pt\">Les d\u00e9penses ult\u00e9rieures sur immobilisations sont</span><span class=\"f charStyle-5d6922b3 ps431\" style=\"width:1.66pt\"> </span></div><div class=\"ps7323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps6588\" style=\"width:52.7pt\">comptabilis\u00e9es</span><span class=\"f charStyle-165dec60 ps32011\" style=\"width:165.25pt\"> en charges lorsqu\u2019elles sont encourues,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">sauf celles engag\u00e9es pour prolonger la dur\u00e9e de vie du</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.28pt\">bien.</span></div><div class=\"ps4982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les immobilisations corporelles font l\u2019objet d\u2019un test de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps4983 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:184.28pt\">d\u00e9pr\u00e9ciation selon la m\u00e9thode expos\u00e9e dans la </span><span class=\"f charStyle-165dec60 ps31774\" style=\"width:32.11pt\">Note 7.4</span><span class=\"f charStyle-165dec60 ps19178\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps4984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:60.37pt\">pages 419 \u00e0 422.</span></div><div class=\"ps32012 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dur\u00e9e et m\u00e9thode d\u2019amortissement<span class=\"f ps53\"> </span><span id=\"i01d151d0c943432c8366ce9cda96fc24\"></span></span></div><div class=\"ps2615 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les immobilisations corporelles, \u00e0 l\u2019exception des terrains,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2617 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:217.99pt\">sont amorties, selon l\u2019approche par composant, sur leur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps412\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2618 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:21.78pt\">dur\u00e9e</span><span class=\"f charStyle-165dec60 ps32013\" style=\"width:79.44pt\"> d\u2019utilisation estim\u00e9e.<span class=\"f ps53\"> </span></span></div><div class=\"ps2654 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:217.94pt\">Les amortissements sont calcul\u00e9s selon la m\u00e9thode</span><span class=\"f charStyle-4afdd138 ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps2656 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps6588\" style=\"width:28.63pt\">lin\u00e9aire,</span><span class=\"f charStyle-165dec60 ps32014\" style=\"width:147.8pt\"> en fonction de ces dur\u00e9es d\u2019utilisation\u00a0:</span></div><div class=\"ps32021 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2004 ws0 ps16265\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:170.25pt\"></td><td style=\"padding:0;width:47.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps1 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:51.43pt\">constructions</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32016 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32015\">20 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps513 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:147.6pt\">agencements et installations g\u00e9n\u00e9rales</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32017 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps16602\">8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps519 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:138.23pt\">mat\u00e9riels et \u00e9quipements industriels</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32019 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps32018\">8 \u00e0 15 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps10356 ss1676\"><div><div class=\"ps1114 ss990\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps510\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\" style=\"width:129.33pt\">autres immobilisations corporelles</span></div></div></div></td><td style=\"padding:0\"><div class=\"ps32020 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-a696f64a ps10066\">3 \u00e0 8 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Outillages<span class=\"f ps53\"> </span><span id=\"ica3c0187ffe3443986d615323c7979f8\"></span></span></div><div class=\"ps32023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">En fonction de leur nature, les outillages sp\u00e9cifiques \u00e0 un</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps32024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">projet font l\u2019objet d\u2019une analyse de la relation</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps32025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">contractuelle avec le constructeur afin de d\u00e9terminer si le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps32026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:49.8pt\">contr\u00f4le de </span><span class=\"f charStyle-5064d44f ps27682\" style=\"width:168.13pt\">l\u2019outillage est transf\u00e9r\u00e9 au constructeur. Ils</span><span class=\"f charStyle-5064d44f ps16299\" style=\"width:1.89pt\"> </span></div><div class=\"ps32027 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:63.87pt\">sont immobilis\u00e9s</span><span class=\"f charStyle-165dec60 ps17770\" style=\"width:154.06pt\"> dans l\u2019\u00e9tat de la situation financi\u00e8re du</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps13338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:91.19pt\">Groupe lorsque ce </span><span class=\"f charStyle-9c680f66 ps32028\" style=\"width:126.79pt\">contr\u00f4le revient \u00e0 Valeo ou</span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:130.72pt\">comptabilis\u00e9s en stocks (jusqu\u2019au</span><span class=\"f charStyle-165dec60 ps32029\" style=\"width:87.22pt\"> transfert de contr\u00f4le)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.53pt\">dans le cas contraire.<span class=\"f ps53\"> </span></span></div><div class=\"ps27020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:217.96pt\">Les \u00e9ventuels financements re\u00e7us des clients sur les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81993cb5 ps16295\" style=\"width:1.87pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27021 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:40.15pt\">outillages <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32032\" style=\"width:177.8pt\">immobilis\u00e9s sont comptabilis\u00e9s au passif de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">l\u2019\u00e9tat de la situation financi\u00e8re et sont rapport\u00e9s au<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:78.07pt\">compte de r\u00e9sultat </span><span class=\"f charStyle-81f42323 ps32033\" style=\"width:139.89pt\">en chiffre d\u2019affaires au m\u00eame rythme</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.03pt\">que les amortissements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32035\" style=\"width:49.84pt\"> de ces biens.</span></div><div class=\"ps27024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les outillages sont amortis selon la m\u00e9thode lin\u00e9aire sur</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps27025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:2.01pt\">l</span><span class=\"f charStyle-b2f078f6 ps32037\" style=\"width:215.94pt\">eur dur\u00e9e d\u2019utilisation estim\u00e9e, soit quatre ans au</span><span class=\"f charStyle-b2f078f6 ps16281\" style=\"width:1.83pt\"> </span></div><div class=\"ps27026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:39.87pt\">maximum.</span></div><div class=\"ps32038 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Cr\u00e9dits d\u2019imp\u00f4t<span id=\"i21fd0949f90e4fcbb7ca8ce38d28b671\"></span></span></div><div class=\"ps17818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:217.96pt\">Dans certains pays, l\u2019\u00c9tat peut contribuer \u00e0 l\u2019effort</span><span class=\"f charStyle-5d6922b3 ps16295\" style=\"width:1.66pt\"> </span></div><div class=\"ps17110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5d6922b3 ps448\" style=\"width:60.58pt\">d\u2019investissement </span><span class=\"f charStyle-165dec60 ps32039\" style=\"width:157.37pt\">du Groupe sous forme de cr\u00e9dits d\u2019imp\u00f4t.</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17111 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Une analyse de l\u2019aide re\u00e7ue est effectu\u00e9e afin de</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps32040 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">d\u00e9terminer si elle entre dans le champ d\u2019application de la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">norme IAS 12 \u00ab\u00a0Imp\u00f4ts sur le r\u00e9sultat\u00a0\u00bb ou si elle doit \u00eatre</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20359 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">consid\u00e9r\u00e9e comme une subvention publique. Dans ce</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps20362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">dernier cas, le cr\u00e9dit d\u2019imp\u00f4t sera reconnu au r\u00e9sultat sur</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps20363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">la p\u00e9riode d\u2019amortissement des actifs sous-jacents</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps20364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:200.67pt\">comme une r\u00e9duction de la charge d\u2019amortissement.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-504": {
   "value": "<div class=\"ps16277 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Contrats de location<span id=\"ib1b6a101f995466e83fe16d9fc13177c\"></span></span></div><div class=\"ps16279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Le preneur d\u2019un contrat de location entrant dans le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps16282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.47pt\">champ d'application de la norme IFRS 16 </span><span class=\"f charStyle-165dec60 ps32272\" style=\"width:7.07pt\">\u00ab </span><span class=\"f charStyle-165dec60 ps32273\" style=\"width:45.43pt\">Contrats de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7846 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.13pt\">location </span><span class=\"f charStyle-165dec60 ps17497\" style=\"width:3.57pt\">\u00bb<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps2684\" style=\"width:43.16pt\">, reconna\u00eet\u00a0:</span></div><div class=\"ps27722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">une dette financi\u00e8re repr\u00e9sentative de l\u2019obligation de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">payer ce droit au passif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:83.42pt\">financi\u00e8re consolid\u00e9e\u00a0;</span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">un actif non courant repr\u00e9sentatif du droit d\u2019utilisation du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:16.09pt\">bien</span><span class=\"f charStyle-81f42323 ps32274\" style=\"width:4.39pt\"> </span><span class=\"f charStyle-165dec60 ps32275\" style=\"width:191.76pt\">lou\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:44.06pt\">consolid\u00e9e\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">des dotations aux amortissements des droits</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019utilisation et des charges d\u2019int\u00e9r\u00eats sur les dettes de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.87pt\">location au compte de r\u00e9sultat consolid\u00e9.<span class=\"f ps53\"> </span></span></div><div class=\"ps32278 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dette sur biens lou\u00e9s<span id=\"ida15cfec94a24ee48d3868e3d88f44c5\"></span></span></div><div class=\"ps32279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">\u00c0 la date de prise d\u2019effet du contrat de location, la dette</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">sur biens lou\u00e9s est comptabilis\u00e9e pour un montant \u00e9gal \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la valeur actualis\u00e9e des paiements minimaux non encore</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps16300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">vers\u00e9s ainsi que des paiements li\u00e9s aux options que le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.43pt\">preneur a la certitude raisonnable d\u2019exercer.<span class=\"f ps53\"> </span></span></div><div class=\"ps32282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La dur\u00e9e du contrat retenue pour calculer la dette de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps32283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">location est d\u00e9termin\u00e9e suite \u00e0 l\u2019analyse \u00e9conomique des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">\u00e9ventuelles options de r\u00e9siliation anticip\u00e9e, d\u2019extension,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de renouvellement et d\u2019achat de l\u2019actif sous-jacent,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:167.6pt\">incluses dans la dur\u00e9e ex\u00e9cutoire du contrat.</span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Ce montant est ensuite \u00e9valu\u00e9 au co\u00fbt amorti en utilisant</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la m\u00e9thode du taux d\u2019int\u00e9r\u00eat effectif. Il est d\u2019une part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">augment\u00e9 pour prendre en compte les int\u00e9r\u00eats dus au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">titre du passif locatif et d\u2019autre part diminu\u00e9 des loyers</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:23.34pt\">pay\u00e9s.</span></div><div class=\"ps2760 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s \u00e0 partir du taux</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2761 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019endettement marginal du Groupe auquel est ajout\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.7pt\">une </span><span class=\"f charStyle-53279637 ps32284\" style=\"width:196.26pt\">marge pour tenir compte des environnements</span><span class=\"f charStyle-53279637 ps608\" style=\"width:1.85pt\"> </span></div><div class=\"ps2763 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32285\" style=\"width:167.67pt\"> sp\u00e9cifiques \u00e0 chaque pays, de la devise et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:85.26pt\">de la dur\u00e9e du contrat.</span></div><div class=\"ps32286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Droit d\u2019utilisation<span id=\"i08ce7ec2d6b0406b8b84eba8aeb01f18\"></span></span></div><div class=\"ps20022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00c0 la date de prise d\u2019effet du contrat de location, le droit</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps20023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">d\u2019utilisation est \u00e9valu\u00e9 \u00e0 son co\u00fbt et comprend (i) le montant</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">initial de la dette auquel sont ajout\u00e9s, s\u2019il y a lieu, (ii) les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">paiements d\u2019avance faits au loueur, nets le cas \u00e9ch\u00e9ant,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps16181 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des avantages re\u00e7us du bailleur, (iii) les co\u00fbts directs</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20029 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initiaux encourus par le preneur pour la conclusion du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps20030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">contrat ainsi que (iv) l\u2019estimation des co\u00fbts de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9mant\u00e8lement ou de remise en \u00e9tat du bien lou\u00e9 selon</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.99pt\">les termes du contrat.</span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Ce montant est ensuite diminu\u00e9 des amortissements et</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20.98pt\">des p</span><span class=\"f charStyle-c709af45 ps32287\" style=\"width:196.97pt\">ertes de valeur constat\u00e9s. Les droits d\u2019utilisation sont</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:28.15pt\">amortis</span><span class=\"f charStyle-165dec60 ps32288\" style=\"width:189.84pt\"> selon la m\u00e9thode lin\u00e9aire. Les agencements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">indissociables des biens lou\u00e9s sont amortis sur la dur\u00e9e la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">plus courte entre la dur\u00e9e du contrat retenue et la dur\u00e9e</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.48pt\">d\u2019utilisation estim\u00e9e.</span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Lorsque le contrat a pour effet de transf\u00e9rer au preneur la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.08pt\">pr</span><span class=\"f charStyle-4afdd138 ps32289\" style=\"width:209.9pt\">opri\u00e9t\u00e9 du bien ou lorsqu\u2019il comprend une option</span><span class=\"f charStyle-4afdd138 ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:27.42pt\">d\u2019achat</span><span class=\"f charStyle-165dec60 ps20602\" style=\"width:190.54pt\">, qui sera exerc\u00e9e avec une certitude raisonnable,</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.55pt\">le droit </span><span class=\"f charStyle-81f42323 ps32290\" style=\"width:188.41pt\">d\u2019utilisation est amorti sur la dur\u00e9e d\u2019utilit\u00e9 de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:38.41pt\">sous-jacen</span><span class=\"f charStyle-165dec60 ps32291\" style=\"width:179.54pt\">t selon les m\u00eames conditions que celles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.02pt\">appliqu\u00e9es aux actifs d</span><span class=\"f charStyle-4afdd138 ps32292\" style=\"width:128.95pt\">\u00e9tenus en propre. Dans les autres</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:105.46pt\">cas, les droits d\u2019utilisation</span><span class=\"f charStyle-165dec60 ps32293\" style=\"width:5.98pt\"> </span><span class=\"f charStyle-c8069515 ps32294\" style=\"width:106.48pt\">sont amortis sur la dur\u00e9e</span><span class=\"f charStyle-c8069515 ps16293\" style=\"width:1.84pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:146.66pt\">d\u2019utilisation raisonnablement certaine</span><span class=\"f charStyle-165dec60 ps32295\" style=\"width:71.32pt\"> des actifs sous-</span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.58pt\">jacents.</span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.99pt\">Par la suite, la dette et le droit d\u2019utilisation de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps2269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:40.97pt\">sous\u2011jacent</span><span class=\"f charStyle-4afdd138 ps32296\" style=\"width:11.47pt\"> d</span><span class=\"f charStyle-367d076b ps32297\" style=\"width:165.5pt\">oivent \u00eatre r\u00e9-estim\u00e9s pour prendre en</span><span class=\"f charStyle-367d076b ps16283\" style=\"width:1.88pt\"> </span></div><div class=\"ps2271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:75.03pt\">compte les situation</span><span class=\"f charStyle-165dec60 ps32298\" style=\"width:44.66pt\">s suivantes\u00a0:</span></div><div class=\"ps2344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:128.78pt\">la r\u00e9vision de la dur\u00e9e de location\u00a0;</span></div><div class=\"ps6665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">toute modification li\u00e9e \u00e0 l\u2019\u00e9valuation du caract\u00e8re</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:70.22pt\">raisonnablement </span><span class=\"f charStyle-73c14ed6 ps32299\" style=\"width:142.09pt\">certain (ou non) de l\u2019exercice d\u2019une</span><span class=\"f charStyle-73c14ed6 ps29662\" style=\"width:1.75pt\"> </span></div><div class=\"ps6431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps26704\" style=\"width:26.47pt\">option\u00a0;</span></div><div class=\"ps6731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:190.18pt\">la r\u00e9-estimation des garanties de valeur r\u00e9siduelle\u00a0;</span></div><div class=\"ps2432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">la r\u00e9vision des taux ou indices sur lesquels sont bas\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2433 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:37.67pt\">les\u00a0loyers ;</span></div><div class=\"ps32300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-7cdc335a ps448\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\">les modifications des montants de loyers.</span></div><div class=\"ps18521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les principales exemptions pr\u00e9vues par la norme et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:158.05pt\">retenues par le Groupe sont les suivantes\u00a0:</span></div><div class=\"ps18435 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:149.33pt\">exclusion des contrats de courte dur\u00e9e\u00a0;</span></div><div class=\"ps18522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps448\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.29pt\">exclusion des contrats portant sur des actifs de faible</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps18437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:23.39pt\">valeur.</span></div><div class=\"ps6619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les loyers relatifs aux contrats de location exclus du</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">champ d'application de la norme IFRS 16 ainsi que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">paiements variables, non pris en compte lors de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">l\u2019\u00e9valuation initiale de la dette, sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps6742 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">charges op\u00e9rationnelles et sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:129.27pt\">nets de tr\u00e9sorerie des activit\u00e9s </span><span class=\"f charStyle-5dca4c00 ps32302\" style=\"width:88.68pt\">op\u00e9rationnelles, dans le</span><span class=\"f charStyle-5dca4c00 ps16281\" style=\"width:1.74pt\"> </span></div><div class=\"ps6744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:141.43pt\">tableau des flux de tr\u00e9sorerie consolid\u00e9s</span><span class=\"f charStyle-165dec60 ps32303\" style=\"width:1.59pt\">.</span></div><div class=\"ps9286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les paiements relatifs aux contrats de location entrants<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">dans le champ d'application de la norme IFRS 16 sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">ventil\u00e9s entre la charge financi\u00e8re et le remboursement</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.36pt\">du principal </span><span class=\"f charStyle-81993cb5 ps7158\" style=\"width:170.59pt\">du passif locatif. Ils sont reconnus dans les flux</span><span class=\"f charStyle-81993cb5 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps21273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:52.64pt\">sur op\u00e9rations</span><span class=\"f charStyle-165dec60 ps14962\" style=\"width:165.35pt\"> de financement, dans le tableau des flux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">tr\u00e9sorerie consolid\u00e9s. La part relative au remboursement</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">du principal du passif locatif est r\u00e9int\u00e9gr\u00e9e dans la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.49pt\">d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps32304\" style=\"width:35.83pt\">cash flow</span><span class=\"f charStyle-165dec60 ps32305\" style=\"width:20.18pt\"> libre.</span></div><div class=\"ps12014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:413.89pt\">L\u2019\u00e9volution des droits d\u2019utilisation pr\u00e9sent\u00e9s parmi les immobilisations corporelles se d\u00e9compose comme suit\u00a0:</span></div><div class=\"ps32390 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:165.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:57pt\"></td><td style=\"padding:0;width:57pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:62.25pt\"></td><td style=\"padding:0;width:48.75pt\"></td></tr><tr style=\"height:14.25pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32307 ss2024\"><div><div class=\"ps3341 ss2023\"><span class=\"f charStyle-2d71864b ps32306\">Droits d\u2019utilisation<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps13301 ss2025\"><div><div class=\"ps24204 ss2022\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32309 ss222\"><div><div class=\"ps24204 ss208\"><span class=\"f charStyle-2d71864b ps32308\">Terrains<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32310 ss2008\"><div><div class=\"ps24204 ss362\"><span class=\"f charStyle-2d71864b ps10263\">Constructions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32312 ss2008\"><div><div class=\"ps24208 ss362\"><span class=\"f charStyle-2d71864b ps14512\">Mat\u00e9riels et <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss362\"><span class=\"f charStyle-2d71864b ps32311\">\u00e9quipements </span></div><div class=\"ps24204 ss362\"><span class=\"f charStyle-2d71864b ps22660\">industriels<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32315 ss2026\"><div><div class=\"ps24203 ss379\"><span class=\"f charStyle-2d71864b ps32313\">Outillages<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss379\"><span class=\"f charStyle-2d71864b ps32314\">sp\u00e9cifiques<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32317 ss337\"><div><div class=\"ps24208 ss331\"><span class=\"f charStyle-2d71864b ps32316\">Autres<span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss331\"><span class=\"f charStyle-2d71864b ps9738\">immobilisations<span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss331\"><span class=\"f charStyle-2d71864b ps22364\">corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32318 ss2027\"><div><div class=\"ps24204 ss622\"><span class=\"f charStyle-d606841d ps4275\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10356 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR BRUTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30502\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30503\"> </span><span class=\"f charStyle-3f403986 ps31839\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32320 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.33pt\"></span></span><span class=\"ps32319\">21<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32322 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.43pt\"></span></span><span class=\"ps32321\">709<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32323 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.75pt\"></span></span><span class=\"ps26242\">140<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32325 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.24pt\"></span></span><span class=\"ps32324\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32327 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.39pt\"></span></span><span class=\"ps32326\">132<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32328 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.51pt\"></span></span><span class=\"ps24829\">1\u00a0010<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Amortissements et\u00a0d\u00e9pr\u00e9ciations\u00a0cumul\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32329 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.82pt\"></span></span><span class=\"ps30918\">(7)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32330 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.08pt\"></span></span><span class=\"ps31852\">(303)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32332 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.46pt\"></span></span><span class=\"ps32331\">(58)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32333 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.95pt\"></span></span><span class=\"ps28803\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32334 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.21pt\"></span></span><span class=\"ps28685\">(60)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32336 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.5pt\"></span></span><span class=\"ps32335\">(436)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU 1</span><span class=\"f charStyle-f4bb8995 ps30507\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps30508\"> </span><span class=\"f charStyle-3f403986 ps31856\">JANVIER 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32338 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.59pt\"></span></span><span class=\"ps32337\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32340 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.92pt\"></span></span><span class=\"ps32339\">406<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32342 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.57pt\"></span></span><span class=\"ps32341\">82<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32343 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32345 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.12pt\"></span></span><span class=\"ps32344\">72<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32347 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.42pt\"></span></span><span class=\"ps32346\">574<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2029\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-cb5f73d2 ps10\">Nouveaux contrats/Renouvellements/</span></div><div class=\"ps748 ss2022\"><span class=\"f charStyle-044fe383 ps10\">Modifications</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32348 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32349 ss2014\"><div><div class=\"ps516 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.58pt\"></span></span><span class=\"ps1838\">127<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32350 ss2014\"><div><div class=\"ps516 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.72pt\"></span></span><span class=\"ps9368\">106<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32351 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32353 ss355\"><div><div class=\"ps516 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.7pt\"></span></span><span class=\"ps32352\">25<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9779 ss1343\"><div><div class=\"ps516 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.93pt\"></span></span><span class=\"ps14421\">264<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32354 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.98pt\"></span></span><span class=\"ps31087\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32356 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.96pt\"></span></span><span class=\"ps32355\">(90)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32357 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.01pt\"></span></span><span class=\"ps28521\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32358 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32359 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.26pt\"></span></span><span class=\"ps25849\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32360 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.17pt\"></span></span><span class=\"ps29227\">(147)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32361 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.53pt\"></span></span><span class=\"ps1045\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32363 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.26pt\"></span></span><span class=\"ps32362\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32365 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.53pt\"></span></span><span class=\"ps32364\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32366 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32368 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.51pt\"></span></span><span class=\"ps32367\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32369 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.83pt\"></span></span><span class=\"ps31590\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss2028\"><div><div class=\"ps746 ss2022\"><span class=\"f charStyle-a696f64a ps10\">Reclassements <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32371 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.47pt\"></span></span><span class=\"ps32370\">3<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32373 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.7pt\"></span></span><span class=\"ps32372\">(8)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32375 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.24pt\"></span></span><span class=\"ps32374\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32376 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32378 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.94pt\"></span></span><span class=\"ps32377\">2<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32379 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.98pt\"></span></span><span class=\"ps17199\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23681 ss2028\"><div><div class=\"ps746 ss2022\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">VALEUR NETTE AU </span><span class=\"f charStyle-3f403986 ps31917\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32380 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32382 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.92pt\"></span></span><span class=\"ps32381\">432<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32384 ss376\"><div><div class=\"ps509 ss362\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.81pt\"></span></span><span class=\"ps32383\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32385 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.69pt\"></span></span><span class=\"ps26846\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32387 ss2003\"><div><div class=\"ps509 ss331\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.26pt\"></span></span><span class=\"ps32386\">64<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32389 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.32pt\"></span></span><span class=\"ps32388\">678<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps4110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:85.7pt\">Sur l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps32391\" style=\"width:70.72pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps20996\" style=\"width:324.75pt\">, la charge comptabilis\u00e9e au titre des loyers relatifs aux contrats exclus du champ</span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> </span></div><div class=\"ps4187 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:261.4pt\">d'application de la norme IFRS 16 et des paiements variables s\u2019\u00e9l\u00e8ve \u00e0 </span><span class=\"f charStyle-165dec60 ps32392\" style=\"width:9.9pt\">44</span><span class=\"f charStyle-165dec60 ps32393\" style=\"width:62.53pt\"> millions d\u2019euros.</span></div><div class=\"ps32753 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">7.5.1<span id=\"i1c310de5c01849488bf363bd9b477c1a\"></span></span><span class=\"f charStyle-b11f9a65 ps32752\"> Contrats de location</span></div><div class=\"ps32754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.26pt\"><span style=\"background-color:inherit\">Les engagements futurs minimums relatifs aux contrats de location en cours exclus du champ d'application d'IFRS 16 et aux</span></span><span class=\"f charStyle-68ecf294 ps689\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps32757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:213.47pt\"><span style=\"background-color:inherit\">contrats de location sign\u00e9s mais n\u2019ayant pas d\u00e9marr\u00e9 au </span></span><span class=\"f charStyle-68ecf294 ps32755\" style=\"width:67.46pt\"><span style=\"background-color:inherit\">31\u00a0d\u00e9cembre 2025</span></span><span class=\"f charStyle-68ecf294 ps32756\" style=\"width:68.65pt\"><span style=\"background-color:inherit\">, sont les suivants\u00a0:</span></span></div><div class=\"ps32759 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">\u00c0 moins d'un an</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.69pt\"></span></span><span class=\"ps28266\">34<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.37pt\"></span></span><span class=\"ps1908\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">De un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18382 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.84pt\"></span></span><span class=\"ps30065\">58<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.3pt\"></span></span><span class=\"ps28371\">88<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">\u00c0 plus de cinq ans</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10359 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.38pt\"></span></span><span class=\"ps3134\">18<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10368 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.94pt\"></span></span><span class=\"ps32758\">116<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.28pt\"></span></span><span class=\"ps1397\">131<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-505": {
   "value": "<div class=\"ps16277 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Contrats de location<span id=\"ib1b6a101f995466e83fe16d9fc13177c\"></span></span></div><div class=\"ps16279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Le preneur d\u2019un contrat de location entrant dans le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps16282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.47pt\">champ d'application de la norme IFRS 16 </span><span class=\"f charStyle-165dec60 ps32272\" style=\"width:7.07pt\">\u00ab </span><span class=\"f charStyle-165dec60 ps32273\" style=\"width:45.43pt\">Contrats de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7846 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:32.13pt\">location </span><span class=\"f charStyle-165dec60 ps17497\" style=\"width:3.57pt\">\u00bb<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps2684\" style=\"width:43.16pt\">, reconna\u00eet\u00a0:</span></div><div class=\"ps27722 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">une dette financi\u00e8re repr\u00e9sentative de l\u2019obligation de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">payer ce droit au passif de l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:83.42pt\">financi\u00e8re consolid\u00e9e\u00a0;</span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">un actif non courant repr\u00e9sentatif du droit d\u2019utilisation du<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:16.09pt\">bien</span><span class=\"f charStyle-81f42323 ps32274\" style=\"width:4.39pt\"> </span><span class=\"f charStyle-165dec60 ps32275\" style=\"width:191.76pt\">lou\u00e9 \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:44.06pt\">consolid\u00e9e\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">des dotations aux amortissements des droits</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.29pt\">d\u2019utilisation et des charges d\u2019int\u00e9r\u00eats sur les dettes de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:154.87pt\">location au compte de r\u00e9sultat consolid\u00e9.<span class=\"f ps53\"> </span></span></div><div class=\"ps32278 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Dette sur biens lou\u00e9s<span id=\"ida15cfec94a24ee48d3868e3d88f44c5\"></span></span></div><div class=\"ps32279 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">\u00c0 la date de prise d\u2019effet du contrat de location, la dette</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">sur biens lou\u00e9s est comptabilis\u00e9e pour un montant \u00e9gal \u00e0</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la valeur actualis\u00e9e des paiements minimaux non encore</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps16300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">vers\u00e9s ainsi que des paiements li\u00e9s aux options que le</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps16301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:165.43pt\">preneur a la certitude raisonnable d\u2019exercer.<span class=\"f ps53\"> </span></span></div><div class=\"ps32282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">La dur\u00e9e du contrat retenue pour calculer la dette de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps32283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">location est d\u00e9termin\u00e9e suite \u00e0 l\u2019analyse \u00e9conomique des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">\u00e9ventuelles options de r\u00e9siliation anticip\u00e9e, d\u2019extension,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2749 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">de renouvellement et d\u2019achat de l\u2019actif sous-jacent,</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:167.6pt\">incluses dans la dur\u00e9e ex\u00e9cutoire du contrat.</span></div><div class=\"ps2754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Ce montant est ensuite \u00e9valu\u00e9 au co\u00fbt amorti en utilisant</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps2755 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la m\u00e9thode du taux d\u2019int\u00e9r\u00eat effectif. Il est d\u2019une part<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2756 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">augment\u00e9 pour prendre en compte les int\u00e9r\u00eats dus au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">titre du passif locatif et d\u2019autre part diminu\u00e9 des loyers</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:23.34pt\">pay\u00e9s.</span></div><div class=\"ps2760 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les taux d\u2019actualisation sont d\u00e9termin\u00e9s \u00e0 partir du taux</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2761 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u2019endettement marginal du Groupe auquel est ajout\u00e9</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2762 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.7pt\">une </span><span class=\"f charStyle-53279637 ps32284\" style=\"width:196.26pt\">marge pour tenir compte des environnements</span><span class=\"f charStyle-53279637 ps608\" style=\"width:1.85pt\"> </span></div><div class=\"ps2763 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:50.28pt\">\u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32285\" style=\"width:167.67pt\"> sp\u00e9cifiques \u00e0 chaque pays, de la devise et</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2764 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:85.26pt\">de la dur\u00e9e du contrat.</span></div><div class=\"ps32286 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Droit d\u2019utilisation<span id=\"i08ce7ec2d6b0406b8b84eba8aeb01f18\"></span></span></div><div class=\"ps20022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">\u00c0 la date de prise d\u2019effet du contrat de location, le droit</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps20023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.95pt\">d\u2019utilisation est \u00e9valu\u00e9 \u00e0 son co\u00fbt et comprend (i) le montant</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">initial de la dette auquel sont ajout\u00e9s, s\u2019il y a lieu, (ii) les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">paiements d\u2019avance faits au loueur, nets le cas \u00e9ch\u00e9ant,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps16181 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">des avantages re\u00e7us du bailleur, (iii) les co\u00fbts directs</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps20029 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">initiaux encourus par le preneur pour la conclusion du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps20030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">contrat ainsi que (iv) l\u2019estimation des co\u00fbts de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps20031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9mant\u00e8lement ou de remise en \u00e9tat du bien lou\u00e9 selon</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps20032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:81.99pt\">les termes du contrat.</span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Ce montant est ensuite diminu\u00e9 des amortissements et</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:20.98pt\">des p</span><span class=\"f charStyle-c709af45 ps32287\" style=\"width:196.97pt\">ertes de valeur constat\u00e9s. Les droits d\u2019utilisation sont</span><span class=\"f charStyle-c709af45 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps448\" style=\"width:28.15pt\">amortis</span><span class=\"f charStyle-165dec60 ps32288\" style=\"width:189.84pt\"> selon la m\u00e9thode lin\u00e9aire. Les agencements</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">indissociables des biens lou\u00e9s sont amortis sur la dur\u00e9e la</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">plus courte entre la dur\u00e9e du contrat retenue et la dur\u00e9e</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.48pt\">d\u2019utilisation estim\u00e9e.</span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">Lorsque le contrat a pour effet de transf\u00e9rer au preneur la</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.08pt\">pr</span><span class=\"f charStyle-4afdd138 ps32289\" style=\"width:209.9pt\">opri\u00e9t\u00e9 du bien ou lorsqu\u2019il comprend une option</span><span class=\"f charStyle-4afdd138 ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:27.42pt\">d\u2019achat</span><span class=\"f charStyle-165dec60 ps20602\" style=\"width:190.54pt\">, qui sera exerc\u00e9e avec une certitude raisonnable,</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.55pt\">le droit </span><span class=\"f charStyle-81f42323 ps32290\" style=\"width:188.41pt\">d\u2019utilisation est amorti sur la dur\u00e9e d\u2019utilit\u00e9 de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:38.41pt\">sous-jacen</span><span class=\"f charStyle-165dec60 ps32291\" style=\"width:179.54pt\">t selon les m\u00eames conditions que celles</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:89.02pt\">appliqu\u00e9es aux actifs d</span><span class=\"f charStyle-4afdd138 ps32292\" style=\"width:128.95pt\">\u00e9tenus en propre. Dans les autres</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:105.46pt\">cas, les droits d\u2019utilisation</span><span class=\"f charStyle-165dec60 ps32293\" style=\"width:5.98pt\"> </span><span class=\"f charStyle-c8069515 ps32294\" style=\"width:106.48pt\">sont amortis sur la dur\u00e9e</span><span class=\"f charStyle-c8069515 ps16293\" style=\"width:1.84pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps448\" style=\"width:146.66pt\">d\u2019utilisation raisonnablement certaine</span><span class=\"f charStyle-165dec60 ps32295\" style=\"width:71.32pt\"> des actifs sous-</span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:28.58pt\">jacents.</span></div><div class=\"ps2268 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.99pt\">Par la suite, la dette et le droit d\u2019utilisation de l\u2019actif</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps2269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:40.97pt\">sous\u2011jacent</span><span class=\"f charStyle-4afdd138 ps32296\" style=\"width:11.47pt\"> d</span><span class=\"f charStyle-367d076b ps32297\" style=\"width:165.5pt\">oivent \u00eatre r\u00e9-estim\u00e9s pour prendre en</span><span class=\"f charStyle-367d076b ps16283\" style=\"width:1.88pt\"> </span></div><div class=\"ps2271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:75.03pt\">compte les situation</span><span class=\"f charStyle-165dec60 ps32298\" style=\"width:44.66pt\">s suivantes\u00a0:</span></div><div class=\"ps2344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:128.78pt\">la r\u00e9vision de la dur\u00e9e de location\u00a0;</span></div><div class=\"ps6665 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.28pt\">toute modification li\u00e9e \u00e0 l\u2019\u00e9valuation du caract\u00e8re</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6666 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:70.22pt\">raisonnablement </span><span class=\"f charStyle-73c14ed6 ps32299\" style=\"width:142.09pt\">certain (ou non) de l\u2019exercice d\u2019une</span><span class=\"f charStyle-73c14ed6 ps29662\" style=\"width:1.75pt\"> </span></div><div class=\"ps6431 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps26704\" style=\"width:26.47pt\">option\u00a0;</span></div><div class=\"ps6731 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:190.18pt\">la r\u00e9-estimation des garanties de valeur r\u00e9siduelle\u00a0;</span></div><div class=\"ps2432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.29pt\">la r\u00e9vision des taux ou indices sur lesquels sont bas\u00e9s</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps2433 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:37.67pt\">les\u00a0loyers ;</span></div><div class=\"ps32300 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-7cdc335a ps448\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\">les modifications des montants de loyers.</span></div><div class=\"ps18521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">Les principales exemptions pr\u00e9vues par la norme et</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps32301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:158.05pt\">retenues par le Groupe sont les suivantes\u00a0:</span></div><div class=\"ps18435 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:149.33pt\">exclusion des contrats de courte dur\u00e9e\u00a0;</span></div><div class=\"ps18522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps448\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps26704\" style=\"width:212.29pt\">exclusion des contrats portant sur des actifs de faible</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps18437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps26704\" style=\"width:23.39pt\">valeur.</span></div><div class=\"ps6619 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les loyers relatifs aux contrats de location exclus du</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">champ d'application de la norme IFRS 16 ainsi que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">paiements variables, non pris en compte lors de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">l\u2019\u00e9valuation initiale de la dette, sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps6742 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">charges op\u00e9rationnelles et sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6743 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:129.27pt\">nets de tr\u00e9sorerie des activit\u00e9s </span><span class=\"f charStyle-5dca4c00 ps32302\" style=\"width:88.68pt\">op\u00e9rationnelles, dans le</span><span class=\"f charStyle-5dca4c00 ps16281\" style=\"width:1.74pt\"> </span></div><div class=\"ps6744 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:141.43pt\">tableau des flux de tr\u00e9sorerie consolid\u00e9s</span><span class=\"f charStyle-165dec60 ps32303\" style=\"width:1.59pt\">.</span></div><div class=\"ps9286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les paiements relatifs aux contrats de location entrants<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">dans le champ d'application de la norme IFRS 16 sont</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6747 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">ventil\u00e9s entre la charge financi\u00e8re et le remboursement</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps6748 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.36pt\">du principal </span><span class=\"f charStyle-81993cb5 ps7158\" style=\"width:170.59pt\">du passif locatif. Ils sont reconnus dans les flux</span><span class=\"f charStyle-81993cb5 ps16281\" style=\"width:1.87pt\"> </span></div><div class=\"ps21273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps448\" style=\"width:52.64pt\">sur op\u00e9rations</span><span class=\"f charStyle-165dec60 ps14962\" style=\"width:165.35pt\"> de financement, dans le tableau des flux de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7147 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">tr\u00e9sorerie consolid\u00e9s. La part relative au remboursement</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps7150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">du principal du passif locatif est r\u00e9int\u00e9gr\u00e9e dans la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps7151 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:68.49pt\">d\u00e9termination du </span><span class=\"f charStyle-e8054d08 ps32304\" style=\"width:35.83pt\">cash flow</span><span class=\"f charStyle-165dec60 ps32305\" style=\"width:20.18pt\"> libre.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-508": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i174e427032bf4e868bee1fd74f22ce16\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">8<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps32775\"><span style=\"display:inline-block;height:13.55pt;width:35.78pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Autres</span><span class=\"f charStyle-26f8f9e5 ps32776\"> provisions et passifs \u00e9ventuels<span class=\"f ps53\"> </span></span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">8.1<span id=\"i2c0943c2140945a0a1e5a384a4e7c3e5\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps32777\"><span style=\"display:inline-block;height:10.16pt;width:28.73pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Autres provisions<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:140.31pt\">Une provision est constitu\u00e9e lorsque\u00a0:</span></div><div class=\"ps15280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">le Groupe a une obligation juridique, contractuelle ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:33.32pt\">implicite <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32779\" style=\"width:124.68pt\">r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9\u00a0;</span></div><div class=\"ps9256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps3285\" style=\"width:212.32pt\">il est probable qu\u2019une sortie de ressources repr\u00e9sentatives</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">d\u2019avantages \u00e9conomiques sera n\u00e9cessaire pour \u00e9teindre</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:45.32pt\">l\u2019obligation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77a4558 ps6588\" style=\"width:2.52pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps3285\" style=\"width:212.28pt\">le montant de l\u2019obligation peut \u00eatre estim\u00e9 de mani\u00e8re</span><span class=\"f charStyle-b5684510 ps425\" style=\"width:1.8pt\"> </span></div><div class=\"ps32781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps3285\" style=\"width:21.06pt\">fiable.<span class=\"f ps53\"> </span></span></div><div class=\"ps29271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:217.99pt\">Les provisions sont \u00e9valu\u00e9es en application de la norme</span><span class=\"f charStyle-49b0b1fa ps412\" style=\"width:1.84pt\"> </span></div><div class=\"ps29273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:32.77pt\">IAS\u00a037 </span><span class=\"f charStyle-165dec60 ps32782\" style=\"width:185.17pt\">en tenant compte des hypoth\u00e8ses les plus</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29275 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:113.02pt\">probables \u00e0 la date de cl\u00f4ture.</span></div><div class=\"ps32783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Des provisions pour garantie clients sont constitu\u00e9es pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">couvrir le co\u00fbt estim\u00e9 des retours des produits vendus.</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:5.01pt\">E</span><span class=\"f charStyle-49b068b5 ps32785\" style=\"width:212.93pt\">lles se d\u00e9composent en provisions statistiques et</span><span class=\"f charStyle-49b068b5 ps610\" style=\"width:1.86pt\"> </span></div><div class=\"ps29282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps6588\" style=\"width:36.95pt\">provisions</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:181.01pt\"> pour risques de qualit\u00e9 sp\u00e9cifiques. Les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">provisions pour garantie statistiques couvrent les risques</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">li\u00e9s aux engagements de garantie contractuels. Le calcul<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:129.67pt\">de la provision s\u2019appuie \u00e0 la <span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps17956\" style=\"width:88.26pt\">fois sur des donn\u00e9es</span><span class=\"f charStyle-d96cb356 ps415\" style=\"width:1.92pt\"> </span></div><div class=\"ps26775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:150.15pt\">historiques et des calculs de probabilit\u00e9.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32787\" style=\"width:67.81pt\"> La provision pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps26778 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">risques de qualit\u00e9 sp\u00e9cifiques couvre les co\u00fbts li\u00e9s \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.45pt\">situations ponctuelles exc\u00e9dant </span><span class=\"f charStyle-53279637 ps32788\" style=\"width:59.54pt\">le cadre de la </span><span class=\"f charStyle-dd2d44ff ps32789\" style=\"width:29.94pt\">garantie</span><span class=\"f charStyle-dd2d44ff ps415\" style=\"width:1.75pt\"> </span></div><div class=\"ps26780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps6588\" style=\"width:217.98pt\">normale. Les charges correspondantes sont enregistr\u00e9es</span><span class=\"f charStyle-dd2d44ff ps431\" style=\"width:1.75pt\"> </span></div><div class=\"ps26781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:89.36pt\">dans le co\u00fbt des ventes.<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les engagements r\u00e9sultant de plans de restructuration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont comptabilis\u00e9s lorsque des plans d\u00e9taill\u00e9s ont \u00e9t\u00e9<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9tablis et qu\u2019un commencement de mise en \u0153uvre ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.4pt\">une annonce </span><span class=\"f charStyle-9206869b ps32792\" style=\"width:158.58pt\">ont cr\u00e9\u00e9 une attente fond\u00e9e chez les</span><span class=\"f charStyle-9206869b ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:85.12pt\">personnes concern\u00e9es.</span></div><div class=\"ps15284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.94pt\">Une provision pour contrat d\u00e9ficitaire est comptabilis\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:26.76pt\">lorsque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32793\" style=\"width:5.66pt\"> l</span><span class=\"f charStyle-4afdd138 ps18636\" style=\"width:185.53pt\">es avantages \u00e9conomiques attendus du contrat</span><span class=\"f charStyle-4afdd138 ps16281\" style=\"width:1.9pt\"> </span></div><div class=\"ps15286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:51.14pt\">par le Groupe<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32794\" style=\"width:166.82pt\"> sont inf\u00e9rieurs aux co\u00fbts in\u00e9vitables devant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre engag\u00e9s pour satisfaire aux obligations</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.08pt\">contractuelles.</span><span class=\"f charStyle-165dec60 ps16078\" style=\"width:1.96pt\"> </span></div><div class=\"ps32795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.96pt\">Les provisions comprennent \u00e9galement des provisions</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:34.49pt\">destin\u00e9es</span><span class=\"f charStyle-165dec60 ps21333\" style=\"width:183.47pt\"> \u00e0 faire face \u00e0 des risques et litiges de nature</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.98pt\">commerciale, fiscale et sociale notamment li\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:45.69pt\">l\u2019exploitation</span><span class=\"f charStyle-165dec60 ps10966\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps32798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Lorsque le Groupe s\u2019attend \u00e0 ce que la totalit\u00e9 ou une</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">partie de la d\u00e9pense n\u00e9cessaire \u00e0 l'extinction d'une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.65pt\">provision soit rembours\u00e9e,</span><span class=\"f charStyle-367d076b ps32800\" style=\"width:117.31pt\"> ce remboursement donne lieu</span><span class=\"f charStyle-367d076b ps16295\" style=\"width:1.88pt\"> </span></div><div class=\"ps32802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:217.92pt\">\u00e0 la comptabilisation d\u2019une cr\u00e9ance distincte d\u00e8s lors que</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:93pt\">celui-ci est quasi-certain.</span><span class=\"f charStyle-165dec60 ps32803\" style=\"width:1.96pt\"> </span></div><div class=\"ps15300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les provisions dont l\u2019\u00e9ch\u00e9ance est sup\u00e9rieure \u00e0 un an ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps15301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">dont l\u2019\u00e9ch\u00e9ance n\u2019est pas fix\u00e9e de mani\u00e8re pr\u00e9cise sont</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps15302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:197.97pt\">class\u00e9es en \u00ab\u00a0Autres provisions - part \u00e0 plus d'un an\u00a0\u00bb.</span></div><div class=\"ps32807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:174.17pt\">L\u2019\u00e9volution des autres provisions sur l\u2018exercice </span><span class=\"f charStyle-165dec60 ps32805\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32806\" style=\"width:58.92pt\"> est la suivante\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps32883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60\"><span class=\"ps3131\" style=\"width:0pt\"><span style=\"display:inline-block;height:159pt;width:23.25pt\"></span></span></span><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:66pt\"></td></tr><tr style=\"height:39pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2065\"><div><div class=\"ps28770 ss666\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss2066\"><div><div class=\"ps28766 ss719\"><span class=\"f charStyle-e10e7493 ps32808\">Provisions pour <span class=\"f ps53\"> </span></span></div><div class=\"ps28768 ss719\"><span class=\"f charStyle-e10e7493 ps24672\">garanties <span class=\"f ps53\"> </span></span></div><div class=\"ps28770 ss719\"><span class=\"f charStyle-e10e7493 ps3333\">clients<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15972 ss2066\"><div><div class=\"ps28766 ss719\"><span class=\"f charStyle-e10e7493 ps32808\">Provisions pour <span class=\"f ps53\"> </span></span></div><div class=\"ps28768 ss719\"><span class=\"f charStyle-e10e7493 ps1117\">contrats <span class=\"f ps53\"> </span></span></div><div class=\"ps28770 ss719\"><span class=\"f charStyle-e10e7493 ps23600\">d\u00e9ficitaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32812 ss2066\"><div><div class=\"ps28764 ss719\"><span class=\"f charStyle-e10e7493 ps32808\">Provisions pour <span class=\"f ps53\"> </span></span></div><div class=\"ps28766 ss719\"><span class=\"f charStyle-e10e7493 ps32809\">co\u00fbts sociaux <span class=\"f ps53\"> </span></span></div><div class=\"ps28768 ss719\"><span class=\"f charStyle-e10e7493 ps32810\">et\u00a0de <span class=\"f ps53\"> </span></span></div><div class=\"ps28770 ss719\"><span class=\"f charStyle-e10e7493 ps32811\">restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28431 ss2066\"><div><div class=\"ps28764 ss719\"><span class=\"f charStyle-e10e7493 ps32813\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps28766 ss719\"><span class=\"f charStyle-e10e7493 ps32814\">provisions pour <span class=\"f ps53\"> </span></span></div><div class=\"ps28768 ss719\"><span class=\"f charStyle-e10e7493 ps30905\">risques et </span></div><div class=\"ps28770 ss719\"><span class=\"f charStyle-e10e7493 ps31435\">litiges<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32815 ss2068\"><div><div class=\"ps28770 ss2067\"><span class=\"f charStyle-8a2911e3 ps31932\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss673\"><div><div class=\"ps746 ss666\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3f403986 ps10\" style=\"width:68.62pt\">PROVISIONS AU 1</span><span class=\"f charStyle-f4bb8995 ps32816\" style=\"width:6.85pt\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32817\" style=\"width:2.12pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32818\" style=\"width:54.95pt\">JANVIER 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32820 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.11pt\"></span></span><span class=\"ps32819\">381<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32821 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.72pt\"></span></span><span class=\"ps28593\">86<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32822 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.21pt\"></span></span><span class=\"ps28685\">274<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32824 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.39pt\"></span></span><span class=\"ps32823\">148<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32825 ss2069\"><div><div class=\"ps509 ss2067\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.27pt\"></span></span><span class=\"ps31895\">889<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Dotations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32827 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.83pt\"></span></span><span class=\"ps32826\">247<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32828 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.52pt\"></span></span><span class=\"ps30367\">31<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32830 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.79pt\"></span></span><span class=\"ps32829\">75<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32832 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.57pt\"></span></span><span class=\"ps32831\">143<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32834 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.87pt\"></span></span><span class=\"ps32833\">496<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Utilisations de l'ann\u00e9e<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32835 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.65pt\"></span></span><span class=\"ps28653\">(137)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32837 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.06pt\"></span></span><span class=\"ps32836\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32838 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.07pt\"></span></span><span class=\"ps752\">(120)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32840 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.17pt\"></span></span><span class=\"ps32839\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32842 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.61pt\"></span></span><span class=\"ps32841\">(314)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Reprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32844 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.78pt\"></span></span><span class=\"ps32843\">(50)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32846 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.35pt\"></span></span><span class=\"ps32845\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32847 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.06pt\"></span></span><span class=\"ps32836\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32848 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.62pt\"></span></span><span class=\"ps28680\">(47)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32850 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.98pt\"></span></span><span class=\"ps32849\">(165)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Reclassements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32852 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.03pt\"></span></span><span class=\"ps32851\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32854 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.94pt\"></span></span><span class=\"ps32853\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32855 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.94pt\"></span></span><span class=\"ps32853\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32857 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.28pt\"></span></span><span class=\"ps32856\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32858 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.24pt\"></span></span><span class=\"ps23238\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32860 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.03pt\"></span></span><span class=\"ps32859\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32861 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.73pt\"></span></span><span class=\"ps28269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32862 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.28pt\"></span></span><span class=\"ps32856\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32863 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.28pt\"></span></span><span class=\"ps32856\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32865 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.99pt\"></span></span><span class=\"ps32864\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss673\"><div><div class=\"ps746 ss666\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">PROVISIONS AU </span><span class=\"f charStyle-3f403986 ps32866\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32868 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.57pt\"></span></span><span class=\"ps32867\">416<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32870 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.63pt\"></span></span><span class=\"ps32869\">47<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32871 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.08pt\"></span></span><span class=\"ps3618\">197<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32873 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.31pt\"></span></span><span class=\"ps32872\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32874 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.57pt\"></span></span><span class=\"ps32867\">876<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Dont part \u00e0 moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32875 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.7pt\"></span></span><span class=\"ps31965\">225<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32876 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.23pt\"></span></span><span class=\"ps25887\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32878 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.37pt\"></span></span><span class=\"ps32877\">170<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32880 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.93pt\"></span></span><span class=\"ps32879\">126<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32882 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.05pt\"></span></span><span class=\"ps32881\">541<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32888 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:69.89pt\">Les provisions aux </span><span class=\"f charStyle-165dec60 ps32884\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps32885\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps32886\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32887\" style=\"width:116.83pt\">, se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps32930 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:24pt\"></td><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td rowspan=\"8\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss2070\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps32890\">47 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31750 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour garanties clients</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.73pt\"></span></span><span class=\"ps31758\">416<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.24pt\"></span></span><span class=\"ps32892\">381<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32894 ss2074\"><div><div class=\"ps32893 ss1\"><span class=\"f charStyle-cbb4a92e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32895 ss1131\"><div><div class=\"ps6851 ss32\"><span class=\"f charStyle-a696f64a ps10886\">23 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32896 ss2075\"><div><div class=\"ps746 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour co\u00fbts sociaux </span></div><div class=\"ps748 ss1982\"><span class=\"f charStyle-044fe383 ps4503\">et\u00a0de\u00a0restructuration</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31627 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.27pt\"></span></span><span class=\"ps32897\">197<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31628 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.33pt\"></span></span><span class=\"ps30412\">274<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32899 ss2076\"><div><div class=\"ps32898 ss1\"><span class=\"f charStyle-bdbfbd4c ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32900 ss43\"><div><div class=\"ps746 ss32\"><span class=\"f charStyle-a696f64a ps4527\">21 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32901 ss2077\"><div><div class=\"ps746 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour litiges sociaux et autres litiges</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32903 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.76pt\"></span></span><span class=\"ps32902\">181<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32905 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.32pt\"></span></span><span class=\"ps32904\">113<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps32907\">5 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31759 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour contrats d\u00e9ficitaires </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.58pt\"></span></span><span class=\"ps32908\">47<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30364 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.6pt\"></span></span><span class=\"ps32909\">86<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32910 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-8b704e13 ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32912 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps32911\">3 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32913 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour litiges fiscaux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32915 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.91pt\"></span></span><span class=\"ps32914\">28<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32916 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.68pt\"></span></span><span class=\"ps28062\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32917 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-5d69291e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32918 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps17193\">1 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32919 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour risques environnementaux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32920 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.53pt\"></span></span><span class=\"ps30265\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32921 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.16pt\"></span></span><span class=\"ps30522\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32922 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-ca45fd2d ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22849 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps4534\">\u2014 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32923 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour contrats d\u00e9favorables </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32924 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32926 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.54pt\"></span></span><span class=\"ps32925\">11<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32927 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-3f403986 ps10\">TOTAL AUTRES PROVISIONS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10399 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.57pt\"></span></span><span class=\"ps32928\">876<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10401 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.27pt\"></span></span><span class=\"ps32929\">889<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.29pt\">Les provisions pour garantie clients sont constitu\u00e9es pour</span><span class=\"f charStyle-4afdd138 ps425\" style=\"width:1.9pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:27.64pt\">couvrir </span><span class=\"f charStyle-165dec60 ps30700\" style=\"width:201.65pt\">les co\u00fbts estim\u00e9s des retours des produits vendus qui</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">peuvent r\u00e9sulter d'engagements de garantie contractuels</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">ou \u00eatre li\u00e9s \u00e0 des situations ponctuelles exc\u00e9dant le cadre de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:75.24pt\">la garantie normale.</span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Les provisions pour co\u00fbts sociaux et de restructuration</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">couvrent certains co\u00fbts futurs que Valeo s'attend \u00e0 encourir</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dans le cadre de la mise en \u0153uvre des plans de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:107.25pt\">restructuration qui ont \u00e9t\u00e9 </span><span class=\"f charStyle-9c680f66 ps32933\" style=\"width:122.06pt\">annonc\u00e9s ant\u00e9rieurement au 31</span><span class=\"f charStyle-9c680f66 ps418\" style=\"width:1.93pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:43.34pt\">d\u00e9cembre </span><span class=\"f charStyle-9c680f66 ps8984\" style=\"width:17.58pt\">2025</span><span class=\"f charStyle-9c680f66 ps32934\" style=\"width:65.99pt\">. La diminution </span><span class=\"f charStyle-79bb7869 ps32935\" style=\"width:13.79pt\">de </span><span class=\"f charStyle-5064d44f ps18702\" style=\"width:8.68pt\">77</span><span class=\"f charStyle-79bb7869 ps32936\" style=\"width:79.94pt\"> millions d'euros par</span><span class=\"f charStyle-79bb7869 ps431\" style=\"width:1.79pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:94.43pt\">rapport au 31 d\u00e9cembre </span><span class=\"f charStyle-79bb7869 ps32937\" style=\"width:17.73pt\">2024</span><span class=\"f charStyle-79bb7869 ps6217\" style=\"width:39.26pt\"> s'explique</span><span class=\"f charStyle-165dec60 ps32938\" style=\"width:77.88pt\"> principalement par</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">des utilisations de provisions en contrepartie de co\u00fbts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">d\u00e9caiss\u00e9s au cours de l\u2019exercice au titre de plans de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">restructuration qui avaient l\u2019objet d\u2019un provisionnement \u00e0 fin</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:39.35pt\">d\u00e9cembre </span><span class=\"f charStyle-79bb7869 ps32939\" style=\"width:17.73pt\">2024</span><span class=\"f charStyle-79bb7869 ps32940\" style=\"width:1.42pt\">.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Les pertes futures attendues sur les contrats avec les clients<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.27pt\">ont diminu\u00e9 en </span><span class=\"f charStyle-165dec60 ps32941\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32942\" style=\"width:150.29pt\"> conduisant \u00e0 une baisse des provisions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:19.78pt\">pour </span><span class=\"f charStyle-c709af45 ps32943\" style=\"width:73.77pt\">contrats d\u00e9ficitaires.</span></div><div class=\"ps4207 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:229.32pt\">Les provisions pour litiges sociaux et autres litiges qui</span><span class=\"f charStyle-bd9dab06 ps639\" style=\"width:1.81pt\"> </span></div><div class=\"ps4432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:49.92pt\">s\u2019\u00e9tablissent </span><span class=\"f charStyle-5064d44f ps32944\" style=\"width:10pt\">\u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps32945\" style=\"width:9.97pt\">181</span><span class=\"f charStyle-5064d44f ps32946\" style=\"width:141.99pt\"> millions d\u2019euros \u00e0 fin d\u00e9cembre </span><span class=\"f charStyle-5064d44f ps32947\" style=\"width:17.42pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps449\" style=\"width:1.89pt\"> </span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:33.1pt\">couvrent</span><span class=\"f charStyle-165dec60 ps32948\" style=\"width:196.17pt\"> divers litiges li\u00e9s aux activit\u00e9s op\u00e9rationnelles de</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">Valeo. Chacun des litiges connus a fait l\u2019objet d\u2019un examen \u00e0</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">la date d\u2019arr\u00eat\u00e9 des comptes. Les provisions jug\u00e9es</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">n\u00e9cessaires ont \u00e9t\u00e9 constitu\u00e9es pour couvrir les sorties de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.46pt\">ressources estim\u00e9es.</span></div><div class=\"ps32949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">8.2<span id=\"i8399119700de476a83c4f9ba306ecc63\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30294\"><span style=\"display:inline-block;height:10.16pt;width:26.65pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Passifs \u00e9ventuels<span class=\"f ps53\"> </span></span></div><div class=\"ps2117 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:292.22pt\">Par opposition \u00e0 la d\u00e9finition ci-dessus d'une provision, un passif \u00e9ventuel est\u00a0:</span></div><div class=\"ps625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.28pt\">une obligation potentielle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 dont l\u2019existence ne sera confirm\u00e9e que par la survenance<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32951\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:293.12pt\">ou\u00a0non d\u2019un \u00e9v\u00e9nement incertain qui n\u2019est pas sous le contr\u00f4le du Groupe\u00a0; ou</span></div><div class=\"ps628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.31pt\">une obligation actuelle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 pour lequel soit le montant de l\u2019obligation ne peut \u00eatre estim\u00e9</span><span class=\"f charStyle-165dec60 ps14071\" style=\"width:1.96pt\"> </span></div><div class=\"ps629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.2pt\">de\u00a0mani\u00e8re fiable ou soit il n\u2019est pas probable qu\u2019une sortie de ressources repr\u00e9sentatives d\u2019avantages \u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32952\" style=\"width:1.96pt\"> </span></div><div class=\"ps638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:156.05pt\">sera\u00a0n\u00e9cessaire pour \u00e9teindre l\u2019obligation.</span></div><div class=\"ps18094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Le Groupe a des passifs \u00e9ventuels se rapportant \u00e0 des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps18095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.02pt\">actions <span class=\"f ps53\"> </span></span><span class=\"f charStyle-79bb7869 ps32953\" style=\"width:198.27pt\">en justice, des proc\u00e9dures r\u00e9glementaires et fiscales</span><span class=\"f charStyle-79bb7869 ps425\" style=\"width:1.79pt\"> </span></div><div class=\"ps26718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:78.53pt\">ainsi que divers litiges</span><span class=\"f charStyle-165dec60 ps32954\" style=\"width:150.71pt\"> survenant dans le cadre habituel de ses</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps32955 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">activit\u00e9s. Chacun des litiges connus ou proc\u00e9dures en cours,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps32957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.78pt\">dans lesquels Valeo ou </span><span class=\"f charStyle-49b0b1fa ps32956\" style=\"width:122.51pt\">des soci\u00e9t\u00e9s du\u00a0Groupe sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps425\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:140.08pt\">impliqu\u00e9s, a fait l\u2019objet d\u2019un examen</span><span class=\"f charStyle-165dec60 ps32958\" style=\"width:89.23pt\"> \u00e0 la date d\u2019arr\u00eat\u00e9 des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">comptes. Les\u00a0provisions jug\u00e9es n\u00e9cessaires pouvant \u00eatre</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">estim\u00e9es de mani\u00e8re fiable ont, le cas \u00e9ch\u00e9ant, \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:165.3pt\">constitu\u00e9es pour couvrir les risques estim\u00e9s.</span></div><div class=\"ps18094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:187.89pt\">Des campagnes de rappel ont \u00e9t\u00e9 lanc\u00e9es au 2</span><span class=\"f charStyle-47cc131c ps32962\" style=\"width:2.94pt\"><sup>e</sup></span><span class=\"f charStyle-165dec60 ps32963\" style=\"width:38.43pt\"> semestre</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps18095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:56.12pt\">2025 et au 1</span><span class=\"f charStyle-47cc131c ps32964\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps32965\" style=\"width:168.3pt\"> trimestre 2026 sans l\u2019accord de Valeo,</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">notamment pour le remplacement de produits livr\u00e9s par le</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps32955 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe entre 2017 et 2022. A l\u2019aune des \u00e9l\u00e9ments disponibles</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps32957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">\u00e0 la date d\u2019arr\u00eat\u00e9 des comptes, le Groupe consid\u00e8re que le</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps32959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">probl\u00e8me \u00e0 l\u2019origine de ces rappels ne rel\u00e8ve pas de sa</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">responsabilit\u00e9. Par cons\u00e9quent, aucune provision n\u2019a \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.98pt\">constitu\u00e9e au 31 d\u00e9cembre </span><span class=\"f charStyle-9c680f66 ps32966\" style=\"width:17.58pt\">2025</span><span class=\"f charStyle-165dec60 ps32967\" style=\"width:1.59pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-507": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i174e427032bf4e868bee1fd74f22ce16\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">8<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps32775\"><span style=\"display:inline-block;height:13.55pt;width:35.78pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Autres</span><span class=\"f charStyle-26f8f9e5 ps32776\"> provisions et passifs \u00e9ventuels<span class=\"f ps53\"> </span></span></div><div class=\"ps32949 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">8.2<span id=\"i8399119700de476a83c4f9ba306ecc63\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30294\"><span style=\"display:inline-block;height:10.16pt;width:26.65pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Passifs \u00e9ventuels<span class=\"f ps53\"> </span></span></div><div class=\"ps2117 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:292.22pt\">Par opposition \u00e0 la d\u00e9finition ci-dessus d'une provision, un passif \u00e9ventuel est\u00a0:</span></div><div class=\"ps625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.28pt\">une obligation potentielle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 dont l\u2019existence ne sera confirm\u00e9e que par la survenance<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32951\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:293.12pt\">ou\u00a0non d\u2019un \u00e9v\u00e9nement incertain qui n\u2019est pas sous le contr\u00f4le du Groupe\u00a0; ou</span></div><div class=\"ps628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.31pt\">une obligation actuelle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 pour lequel soit le montant de l\u2019obligation ne peut \u00eatre estim\u00e9</span><span class=\"f charStyle-165dec60 ps14071\" style=\"width:1.96pt\"> </span></div><div class=\"ps629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.2pt\">de\u00a0mani\u00e8re fiable ou soit il n\u2019est pas probable qu\u2019une sortie de ressources repr\u00e9sentatives d\u2019avantages \u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32952\" style=\"width:1.96pt\"> </span></div><div class=\"ps638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:156.05pt\">sera\u00a0n\u00e9cessaire pour \u00e9teindre l\u2019obligation.</span></div><div class=\"ps18094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Le Groupe a des passifs \u00e9ventuels se rapportant \u00e0 des</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps18095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.02pt\">actions <span class=\"f ps53\"> </span></span><span class=\"f charStyle-79bb7869 ps32953\" style=\"width:198.27pt\">en justice, des proc\u00e9dures r\u00e9glementaires et fiscales</span><span class=\"f charStyle-79bb7869 ps425\" style=\"width:1.79pt\"> </span></div><div class=\"ps26718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:78.53pt\">ainsi que divers litiges</span><span class=\"f charStyle-165dec60 ps32954\" style=\"width:150.71pt\"> survenant dans le cadre habituel de ses</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps32955 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">activit\u00e9s. Chacun des litiges connus ou proc\u00e9dures en cours,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps32957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:106.78pt\">dans lesquels Valeo ou </span><span class=\"f charStyle-49b0b1fa ps32956\" style=\"width:122.51pt\">des soci\u00e9t\u00e9s du\u00a0Groupe sont<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps425\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:140.08pt\">impliqu\u00e9s, a fait l\u2019objet d\u2019un examen</span><span class=\"f charStyle-165dec60 ps32958\" style=\"width:89.23pt\"> \u00e0 la date d\u2019arr\u00eat\u00e9 des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">comptes. Les\u00a0provisions jug\u00e9es n\u00e9cessaires pouvant \u00eatre</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">estim\u00e9es de mani\u00e8re fiable ont, le cas \u00e9ch\u00e9ant, \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:165.3pt\">constitu\u00e9es pour couvrir les risques estim\u00e9s.</span></div><div class=\"ps18094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:187.89pt\">Des campagnes de rappel ont \u00e9t\u00e9 lanc\u00e9es au 2</span><span class=\"f charStyle-47cc131c ps32962\" style=\"width:2.94pt\"><sup>e</sup></span><span class=\"f charStyle-165dec60 ps32963\" style=\"width:38.43pt\"> semestre</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps18095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:56.12pt\">2025 et au 1</span><span class=\"f charStyle-47cc131c ps32964\" style=\"width:4.89pt\"><sup>er</sup></span><span class=\"f charStyle-165dec60 ps32965\" style=\"width:168.3pt\"> trimestre 2026 sans l\u2019accord de Valeo,</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps26718 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">notamment pour le remplacement de produits livr\u00e9s par le</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps32955 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe entre 2017 et 2022. A l\u2019aune des \u00e9l\u00e9ments disponibles</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps32957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">\u00e0 la date d\u2019arr\u00eat\u00e9 des comptes, le Groupe consid\u00e8re que le</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps32959 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">probl\u00e8me \u00e0 l\u2019origine de ces rappels ne rel\u00e8ve pas de sa</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">responsabilit\u00e9. Par cons\u00e9quent, aucune provision n\u2019a \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.98pt\">constitu\u00e9e au 31 d\u00e9cembre </span><span class=\"f charStyle-9c680f66 ps32966\" style=\"width:17.58pt\">2025</span><span class=\"f charStyle-165dec60 ps32967\" style=\"width:1.59pt\">.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-506": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i174e427032bf4e868bee1fd74f22ce16\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">8<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps32775\"><span style=\"display:inline-block;height:13.55pt;width:35.78pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Autres</span><span class=\"f charStyle-26f8f9e5 ps32776\"> provisions et passifs \u00e9ventuels<span class=\"f ps53\"> </span></span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">8.1<span id=\"i2c0943c2140945a0a1e5a384a4e7c3e5\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps32777\"><span style=\"display:inline-block;height:10.16pt;width:28.73pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Autres provisions<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:140.31pt\">Une provision est constitu\u00e9e lorsque\u00a0:</span></div><div class=\"ps15280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:212.27pt\">le Groupe a une obligation juridique, contractuelle ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps610\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:33.32pt\">implicite <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32779\" style=\"width:124.68pt\">r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9\u00a0;</span></div><div class=\"ps9256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps3285\" style=\"width:212.32pt\">il est probable qu\u2019une sortie de ressources repr\u00e9sentatives</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps9257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.31pt\">d\u2019avantages \u00e9conomiques sera n\u00e9cessaire pour \u00e9teindre</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:45.32pt\">l\u2019obligation\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps32780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d77a4558 ps6588\" style=\"width:2.52pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b5684510 ps3285\" style=\"width:212.28pt\">le montant de l\u2019obligation peut \u00eatre estim\u00e9 de mani\u00e8re</span><span class=\"f charStyle-b5684510 ps425\" style=\"width:1.8pt\"> </span></div><div class=\"ps32781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b5684510 ps3285\" style=\"width:21.06pt\">fiable.<span class=\"f ps53\"> </span></span></div><div class=\"ps29271 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:217.99pt\">Les provisions sont \u00e9valu\u00e9es en application de la norme</span><span class=\"f charStyle-49b0b1fa ps412\" style=\"width:1.84pt\"> </span></div><div class=\"ps29273 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps6588\" style=\"width:32.77pt\">IAS\u00a037 </span><span class=\"f charStyle-165dec60 ps32782\" style=\"width:185.17pt\">en tenant compte des hypoth\u00e8ses les plus</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps29275 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:113.02pt\">probables \u00e0 la date de cl\u00f4ture.</span></div><div class=\"ps32783 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Des provisions pour garantie clients sont constitu\u00e9es pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32784 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">couvrir le co\u00fbt estim\u00e9 des retours des produits vendus.</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps29280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:5.01pt\">E</span><span class=\"f charStyle-49b068b5 ps32785\" style=\"width:212.93pt\">lles se d\u00e9composent en provisions statistiques et</span><span class=\"f charStyle-49b068b5 ps610\" style=\"width:1.86pt\"> </span></div><div class=\"ps29282 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps6588\" style=\"width:36.95pt\">provisions</span><span class=\"f charStyle-165dec60 ps29719\" style=\"width:181.01pt\"> pour risques de qualit\u00e9 sp\u00e9cifiques. Les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps29283 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">provisions pour garantie statistiques couvrent les risques</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps29879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">li\u00e9s aux engagements de garantie contractuels. Le calcul<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32786 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:129.67pt\">de la provision s\u2019appuie \u00e0 la <span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps17956\" style=\"width:88.26pt\">fois sur des donn\u00e9es</span><span class=\"f charStyle-d96cb356 ps415\" style=\"width:1.92pt\"> </span></div><div class=\"ps26775 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:150.15pt\">historiques et des calculs de probabilit\u00e9.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32787\" style=\"width:67.81pt\"> La provision pour</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps26778 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">risques de qualit\u00e9 sp\u00e9cifiques couvre les co\u00fbts li\u00e9s \u00e0 des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps26779 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:128.45pt\">situations ponctuelles exc\u00e9dant </span><span class=\"f charStyle-53279637 ps32788\" style=\"width:59.54pt\">le cadre de la </span><span class=\"f charStyle-dd2d44ff ps32789\" style=\"width:29.94pt\">garantie</span><span class=\"f charStyle-dd2d44ff ps415\" style=\"width:1.75pt\"> </span></div><div class=\"ps26780 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps6588\" style=\"width:217.98pt\">normale. Les charges correspondantes sont enregistr\u00e9es</span><span class=\"f charStyle-dd2d44ff ps431\" style=\"width:1.75pt\"> </span></div><div class=\"ps26781 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:89.36pt\">dans le co\u00fbt des ventes.<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les engagements r\u00e9sultant de plans de restructuration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32790 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">sont comptabilis\u00e9s lorsque des plans d\u00e9taill\u00e9s ont \u00e9t\u00e9<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">\u00e9tablis et qu\u2019un commencement de mise en \u0153uvre ou<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:59.4pt\">une annonce </span><span class=\"f charStyle-9206869b ps32792\" style=\"width:158.58pt\">ont cr\u00e9\u00e9 une attente fond\u00e9e chez les</span><span class=\"f charStyle-9206869b ps16289\" style=\"width:1.9pt\"> </span></div><div class=\"ps30150 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:85.12pt\">personnes concern\u00e9es.</span></div><div class=\"ps15284 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.94pt\">Une provision pour contrat d\u00e9ficitaire est comptabilis\u00e9e<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15285 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:26.76pt\">lorsque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32793\" style=\"width:5.66pt\"> l</span><span class=\"f charStyle-4afdd138 ps18636\" style=\"width:185.53pt\">es avantages \u00e9conomiques attendus du contrat</span><span class=\"f charStyle-4afdd138 ps16281\" style=\"width:1.9pt\"> </span></div><div class=\"ps15286 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:51.14pt\">par le Groupe<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32794\" style=\"width:166.82pt\"> sont inf\u00e9rieurs aux co\u00fbts in\u00e9vitables devant</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15287 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00eatre engag\u00e9s pour satisfaire aux obligations</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:55.08pt\">contractuelles.</span><span class=\"f charStyle-165dec60 ps16078\" style=\"width:1.96pt\"> </span></div><div class=\"ps32795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.96pt\">Les provisions comprennent \u00e9galement des provisions</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps32796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:34.49pt\">destin\u00e9es</span><span class=\"f charStyle-165dec60 ps21333\" style=\"width:183.47pt\"> \u00e0 faire face \u00e0 des risques et litiges de nature</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps15293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:217.98pt\">commerciale, fiscale et sociale notamment li\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:45.69pt\">l\u2019exploitation</span><span class=\"f charStyle-165dec60 ps10966\" style=\"width:1.59pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps32798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Lorsque le Groupe s\u2019attend \u00e0 ce que la totalit\u00e9 ou une</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">partie de la d\u00e9pense n\u00e9cessaire \u00e0 l'extinction d'une<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32801 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.65pt\">provision soit rembours\u00e9e,</span><span class=\"f charStyle-367d076b ps32800\" style=\"width:117.31pt\"> ce remboursement donne lieu</span><span class=\"f charStyle-367d076b ps16295\" style=\"width:1.88pt\"> </span></div><div class=\"ps32802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:217.92pt\">\u00e0 la comptabilisation d\u2019une cr\u00e9ance distincte d\u00e8s lors que</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps32804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:93pt\">celui-ci est quasi-certain.</span><span class=\"f charStyle-165dec60 ps32803\" style=\"width:1.96pt\"> </span></div><div class=\"ps15300 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les provisions dont l\u2019\u00e9ch\u00e9ance est sup\u00e9rieure \u00e0 un an ou</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps15301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">dont l\u2019\u00e9ch\u00e9ance n\u2019est pas fix\u00e9e de mani\u00e8re pr\u00e9cise sont</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps15302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:197.97pt\">class\u00e9es en \u00ab\u00a0Autres provisions - part \u00e0 plus d'un an\u00a0\u00bb.</span></div><div class=\"ps32807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:174.17pt\">L\u2019\u00e9volution des autres provisions sur l\u2018exercice </span><span class=\"f charStyle-165dec60 ps32805\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32806\" style=\"width:58.92pt\"> est la suivante\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps32883 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60\"><span class=\"ps3131\" style=\"width:0pt\"><span style=\"display:inline-block;height:159pt;width:23.25pt\"></span></span></span><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:66pt\"></td></tr><tr style=\"height:39pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2065\"><div><div class=\"ps28770 ss666\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10311 ss2066\"><div><div class=\"ps28766 ss719\"><span class=\"f charStyle-e10e7493 ps32808\">Provisions pour <span class=\"f ps53\"> </span></span></div><div class=\"ps28768 ss719\"><span class=\"f charStyle-e10e7493 ps24672\">garanties <span class=\"f ps53\"> </span></span></div><div class=\"ps28770 ss719\"><span class=\"f charStyle-e10e7493 ps3333\">clients<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15972 ss2066\"><div><div class=\"ps28766 ss719\"><span class=\"f charStyle-e10e7493 ps32808\">Provisions pour <span class=\"f ps53\"> </span></span></div><div class=\"ps28768 ss719\"><span class=\"f charStyle-e10e7493 ps1117\">contrats <span class=\"f ps53\"> </span></span></div><div class=\"ps28770 ss719\"><span class=\"f charStyle-e10e7493 ps23600\">d\u00e9ficitaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32812 ss2066\"><div><div class=\"ps28764 ss719\"><span class=\"f charStyle-e10e7493 ps32808\">Provisions pour <span class=\"f ps53\"> </span></span></div><div class=\"ps28766 ss719\"><span class=\"f charStyle-e10e7493 ps32809\">co\u00fbts sociaux <span class=\"f ps53\"> </span></span></div><div class=\"ps28768 ss719\"><span class=\"f charStyle-e10e7493 ps32810\">et\u00a0de <span class=\"f ps53\"> </span></span></div><div class=\"ps28770 ss719\"><span class=\"f charStyle-e10e7493 ps32811\">restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28431 ss2066\"><div><div class=\"ps28764 ss719\"><span class=\"f charStyle-e10e7493 ps32813\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps28766 ss719\"><span class=\"f charStyle-e10e7493 ps32814\">provisions pour <span class=\"f ps53\"> </span></span></div><div class=\"ps28768 ss719\"><span class=\"f charStyle-e10e7493 ps30905\">risques et </span></div><div class=\"ps28770 ss719\"><span class=\"f charStyle-e10e7493 ps31435\">litiges<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32815 ss2068\"><div><div class=\"ps28770 ss2067\"><span class=\"f charStyle-8a2911e3 ps31932\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss673\"><div><div class=\"ps746 ss666\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3f403986 ps10\" style=\"width:68.62pt\">PROVISIONS AU 1</span><span class=\"f charStyle-f4bb8995 ps32816\" style=\"width:6.85pt\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32817\" style=\"width:2.12pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32818\" style=\"width:54.95pt\">JANVIER 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32820 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.11pt\"></span></span><span class=\"ps32819\">381<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32821 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.72pt\"></span></span><span class=\"ps28593\">86<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32822 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.21pt\"></span></span><span class=\"ps28685\">274<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32824 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.39pt\"></span></span><span class=\"ps32823\">148<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32825 ss2069\"><div><div class=\"ps509 ss2067\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.27pt\"></span></span><span class=\"ps31895\">889<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Dotations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32827 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.83pt\"></span></span><span class=\"ps32826\">247<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32828 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.52pt\"></span></span><span class=\"ps30367\">31<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32830 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.79pt\"></span></span><span class=\"ps32829\">75<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32832 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.57pt\"></span></span><span class=\"ps32831\">143<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32834 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.87pt\"></span></span><span class=\"ps32833\">496<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Utilisations de l'ann\u00e9e<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32835 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.65pt\"></span></span><span class=\"ps28653\">(137)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32837 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.06pt\"></span></span><span class=\"ps32836\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32838 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.07pt\"></span></span><span class=\"ps752\">(120)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32840 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.17pt\"></span></span><span class=\"ps32839\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32842 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.61pt\"></span></span><span class=\"ps32841\">(314)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Reprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32844 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.78pt\"></span></span><span class=\"ps32843\">(50)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32846 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.35pt\"></span></span><span class=\"ps32845\">(37)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32847 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.06pt\"></span></span><span class=\"ps32836\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32848 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.62pt\"></span></span><span class=\"ps28680\">(47)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32850 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.98pt\"></span></span><span class=\"ps32849\">(165)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Reclassements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32852 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.03pt\"></span></span><span class=\"ps32851\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32854 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.94pt\"></span></span><span class=\"ps32853\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32855 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.94pt\"></span></span><span class=\"ps32853\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32857 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.28pt\"></span></span><span class=\"ps32856\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32858 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.24pt\"></span></span><span class=\"ps23238\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32860 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.03pt\"></span></span><span class=\"ps32859\">(21)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32861 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.73pt\"></span></span><span class=\"ps28269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32862 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.28pt\"></span></span><span class=\"ps32856\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32863 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.28pt\"></span></span><span class=\"ps32856\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32865 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.99pt\"></span></span><span class=\"ps32864\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss673\"><div><div class=\"ps746 ss666\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">PROVISIONS AU </span><span class=\"f charStyle-3f403986 ps32866\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32868 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.57pt\"></span></span><span class=\"ps32867\">416<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32870 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.63pt\"></span></span><span class=\"ps32869\">47<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32871 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.08pt\"></span></span><span class=\"ps3618\">197<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32873 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.31pt\"></span></span><span class=\"ps32872\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32874 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.57pt\"></span></span><span class=\"ps32867\">876<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Dont part \u00e0 moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32875 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.7pt\"></span></span><span class=\"ps31965\">225<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32876 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.23pt\"></span></span><span class=\"ps25887\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32878 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.37pt\"></span></span><span class=\"ps32877\">170<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32880 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.93pt\"></span></span><span class=\"ps32879\">126<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32882 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.05pt\"></span></span><span class=\"ps32881\">541<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps32888 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:69.89pt\">Les provisions aux </span><span class=\"f charStyle-165dec60 ps32884\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps32885\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps32886\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps32887\" style=\"width:116.83pt\">, se d\u00e9composent comme suit\u00a0:</span></div><div class=\"ps32930 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:24pt\"></td><td style=\"padding:0;width:192pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td rowspan=\"8\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss2070\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps32890\">47 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31750 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour garanties clients</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.73pt\"></span></span><span class=\"ps31758\">416<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.24pt\"></span></span><span class=\"ps32892\">381<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32894 ss2074\"><div><div class=\"ps32893 ss1\"><span class=\"f charStyle-cbb4a92e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32895 ss1131\"><div><div class=\"ps6851 ss32\"><span class=\"f charStyle-a696f64a ps10886\">23 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32896 ss2075\"><div><div class=\"ps746 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour co\u00fbts sociaux </span></div><div class=\"ps748 ss1982\"><span class=\"f charStyle-044fe383 ps4503\">et\u00a0de\u00a0restructuration</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31627 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.27pt\"></span></span><span class=\"ps32897\">197<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31628 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.33pt\"></span></span><span class=\"ps30412\">274<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32899 ss2076\"><div><div class=\"ps32898 ss1\"><span class=\"f charStyle-bdbfbd4c ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32900 ss43\"><div><div class=\"ps746 ss32\"><span class=\"f charStyle-a696f64a ps4527\">21 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32901 ss2077\"><div><div class=\"ps746 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour litiges sociaux et autres litiges</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32903 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.76pt\"></span></span><span class=\"ps32902\">181<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32905 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.32pt\"></span></span><span class=\"ps32904\">113<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30290 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22982 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps32907\">5 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31759 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour contrats d\u00e9ficitaires </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30293 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.58pt\"></span></span><span class=\"ps32908\">47<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30364 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.6pt\"></span></span><span class=\"ps32909\">86<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32910 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-8b704e13 ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32912 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps32911\">3 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32913 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour litiges fiscaux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32915 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.91pt\"></span></span><span class=\"ps32914\">28<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32916 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.68pt\"></span></span><span class=\"ps28062\">16<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32917 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-5d69291e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32918 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps17193\">1 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32919 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour risques environnementaux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32920 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.53pt\"></span></span><span class=\"ps30265\">7<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32921 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.16pt\"></span></span><span class=\"ps30522\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32922 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-ca45fd2d ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22849 ss2071\"><div><div class=\"ps32891 ss32\"><span class=\"f charStyle-a696f64a ps4534\">\u2014 %</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32923 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Provisions pour contrats d\u00e9favorables </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32924 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32926 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.54pt\"></span></span><span class=\"ps32925\">11<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32927 ss2072\"><div><div class=\"ps32891 ss1982\"><span class=\"f charStyle-3f403986 ps10\">TOTAL AUTRES PROVISIONS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10399 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.57pt\"></span></span><span class=\"ps32928\">876<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10401 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.27pt\"></span></span><span class=\"ps32929\">889<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.29pt\">Les provisions pour garantie clients sont constitu\u00e9es pour</span><span class=\"f charStyle-4afdd138 ps425\" style=\"width:1.9pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:27.64pt\">couvrir </span><span class=\"f charStyle-165dec60 ps30700\" style=\"width:201.65pt\">les co\u00fbts estim\u00e9s des retours des produits vendus qui</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">peuvent r\u00e9sulter d'engagements de garantie contractuels</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">ou \u00eatre li\u00e9s \u00e0 des situations ponctuelles exc\u00e9dant le cadre de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:75.24pt\">la garantie normale.</span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Les provisions pour co\u00fbts sociaux et de restructuration</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">couvrent certains co\u00fbts futurs que Valeo s'attend \u00e0 encourir</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dans le cadre de la mise en \u0153uvre des plans de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:107.25pt\">restructuration qui ont \u00e9t\u00e9 </span><span class=\"f charStyle-9c680f66 ps32933\" style=\"width:122.06pt\">annonc\u00e9s ant\u00e9rieurement au 31</span><span class=\"f charStyle-9c680f66 ps418\" style=\"width:1.93pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps275\" style=\"width:43.34pt\">d\u00e9cembre </span><span class=\"f charStyle-9c680f66 ps8984\" style=\"width:17.58pt\">2025</span><span class=\"f charStyle-9c680f66 ps32934\" style=\"width:65.99pt\">. La diminution </span><span class=\"f charStyle-79bb7869 ps32935\" style=\"width:13.79pt\">de </span><span class=\"f charStyle-5064d44f ps18702\" style=\"width:8.68pt\">77</span><span class=\"f charStyle-79bb7869 ps32936\" style=\"width:79.94pt\"> millions d'euros par</span><span class=\"f charStyle-79bb7869 ps431\" style=\"width:1.79pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:94.43pt\">rapport au 31 d\u00e9cembre </span><span class=\"f charStyle-79bb7869 ps32937\" style=\"width:17.73pt\">2024</span><span class=\"f charStyle-79bb7869 ps6217\" style=\"width:39.26pt\"> s'explique</span><span class=\"f charStyle-165dec60 ps32938\" style=\"width:77.88pt\"> principalement par</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">des utilisations de provisions en contrepartie de co\u00fbts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">d\u00e9caiss\u00e9s au cours de l\u2019exercice au titre de plans de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">restructuration qui avaient l\u2019objet d\u2019un provisionnement \u00e0 fin</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:39.35pt\">d\u00e9cembre </span><span class=\"f charStyle-79bb7869 ps32939\" style=\"width:17.73pt\">2024</span><span class=\"f charStyle-79bb7869 ps32940\" style=\"width:1.42pt\">.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Les pertes futures attendues sur les contrats avec les clients<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.27pt\">ont diminu\u00e9 en </span><span class=\"f charStyle-165dec60 ps32941\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps32942\" style=\"width:150.29pt\"> conduisant \u00e0 une baisse des provisions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:19.78pt\">pour </span><span class=\"f charStyle-c709af45 ps32943\" style=\"width:73.77pt\">contrats d\u00e9ficitaires.</span></div><div class=\"ps4207 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:229.32pt\">Les provisions pour litiges sociaux et autres litiges qui</span><span class=\"f charStyle-bd9dab06 ps639\" style=\"width:1.81pt\"> </span></div><div class=\"ps4432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps448\" style=\"width:49.92pt\">s\u2019\u00e9tablissent </span><span class=\"f charStyle-5064d44f ps32944\" style=\"width:10pt\">\u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps32945\" style=\"width:9.97pt\">181</span><span class=\"f charStyle-5064d44f ps32946\" style=\"width:141.99pt\"> millions d\u2019euros \u00e0 fin d\u00e9cembre </span><span class=\"f charStyle-5064d44f ps32947\" style=\"width:17.42pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps449\" style=\"width:1.89pt\"> </span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:33.1pt\">couvrent</span><span class=\"f charStyle-165dec60 ps32948\" style=\"width:196.17pt\"> divers litiges li\u00e9s aux activit\u00e9s op\u00e9rationnelles de</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">Valeo. Chacun des litiges connus a fait l\u2019objet d\u2019un examen \u00e0</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">la date d\u2019arr\u00eat\u00e9 des comptes. Les provisions jug\u00e9es</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">n\u00e9cessaires ont \u00e9t\u00e9 constitu\u00e9es pour couvrir les sorties de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.46pt\">ressources estim\u00e9es.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-509": {
   "value": "<div class=\"ps2117 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:292.22pt\">Par opposition \u00e0 la d\u00e9finition ci-dessus d'une provision, un passif \u00e9ventuel est\u00a0:</span></div><div class=\"ps625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.28pt\">une obligation potentielle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 dont l\u2019existence ne sera confirm\u00e9e que par la survenance<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps32951\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:293.12pt\">ou\u00a0non d\u2019un \u00e9v\u00e9nement incertain qui n\u2019est pas sous le contr\u00f4le du Groupe\u00a0; ou</span></div><div class=\"ps628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.31pt\">une obligation actuelle r\u00e9sultant d\u2019un \u00e9v\u00e9nement pass\u00e9 pour lequel soit le montant de l\u2019obligation ne peut \u00eatre estim\u00e9</span><span class=\"f charStyle-165dec60 ps14071\" style=\"width:1.96pt\"> </span></div><div class=\"ps629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:447.2pt\">de\u00a0mani\u00e8re fiable ou soit il n\u2019est pas probable qu\u2019une sortie de ressources repr\u00e9sentatives d\u2019avantages \u00e9conomiques</span><span class=\"f charStyle-165dec60 ps32952\" style=\"width:1.96pt\"> </span></div><div class=\"ps638 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:156.05pt\">sera\u00a0n\u00e9cessaire pour \u00e9teindre l\u2019obligation.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-510": {
   "value": "<div class=\"ps32969 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">8.3<span id=\"i66d207b262f943449398cd4a2eb9b472\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps32968\"><span style=\"display:inline-block;height:10.16pt;width:26.63pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">\u00c9v\u00e9nements post\u00e9rieurs \u00e0 la cl\u00f4ture<span class=\"f ps53\"> </span></span></div><div class=\"ps17613 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:481.17pt\">En janvier 2026, le Groupe a pr\u00e9sent\u00e9 au Comit\u00e9 europ\u00e9en un projet de restructuration de la Division POWER qui vise \u00e0</span><span class=\"f charStyle-d96cb356 ps1119\" style=\"width:1.92pt\"> </span></div><div class=\"ps7660 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:481.24pt\">poursuivre la r\u00e9organisation de son empreinte industrielle et R&amp;D en Allemagne, en Slovaquie et en Pologne. Ce projet pr\u00e9voit la</span><span class=\"f charStyle-d96cb356 ps8438\" style=\"width:1.92pt\"> </span></div><div class=\"ps7661 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:481.32pt\">suppression de 684 postes en Allemagne et en Slovaquie, la fermeture de 2 sites en Allemagne ainsi que la cr\u00e9ation de 192 postes</span><span class=\"f charStyle-d96cb356 ps460\" style=\"width:1.92pt\"> </span></div><div class=\"ps7662 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:481.32pt\">en Allemagne et en Pologne. Les instances repr\u00e9sentatives du personnel ayant \u00e9t\u00e9 inform\u00e9es de ce projet en janvier 2026,</span><span class=\"f charStyle-d96cb356 ps460\" style=\"width:1.92pt\"> </span></div><div class=\"ps7663 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:458.54pt\">aucune provision en lien avec cette r\u00e9organisation n\u2019a \u00e9t\u00e9 comptabilis\u00e9e dans les comptes du Groupe au 31 d\u00e9cembre 2025.</span><span class=\"f charStyle-d96cb356 ps32970\" style=\"width:1.92pt\"> </span></div><div class=\"ps33900 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9v\u00e9nement <span class=\"f ps53\"> </span><span id=\"i8735a738e00c4fffa43ece4e9ca2faff\"></span></span><span class=\"f charStyle-aa33f529 ps33899\">post\u00e9rieur</span><span class=\"f charStyle-aa33f529 ps31840\"> \u00e0 la cl\u00f4ture</span></div><div class=\"ps33901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:24.74pt\">N\u00e9ant.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-511": {
   "value": "<div class=\"ps32972 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"ie2f5001ec30747df80a7dd798e377d2b\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">9<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps30801\"><span style=\"display:inline-block;height:13.55pt;width:36.06pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Financement </span><span class=\"f charStyle-26f8f9e5 ps32971\">et instruments financiers</span></div><div class=\"ps32973 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">9.1<span id=\"i212e1460898c459a883a256200676b5f\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps27752\"><span style=\"display:inline-block;height:10.16pt;width:28.98pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les actifs et passifs financiers se composent</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:147pt\">principalement des \u00e9l\u00e9ments suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">les dettes financi\u00e8res \u00e0 long terme, les financements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:57.19pt\">court terme <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps32976\" style=\"width:155.12pt\">ainsi que les concours bancaires qui<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps431\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:97.56pt\">composent l\u2019endettement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4056\" style=\"width:76.04pt\"> financier brut (cf. </span><span class=\"f charStyle-165dec60 ps32978\" style=\"width:37.1pt\">Note 9.1.2</span><span class=\"f charStyle-165dec60 ps11627\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:64.61pt\">pages 427 \u00e0 431)\u00a0;</span></div><div class=\"ps13948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:149.68pt\">les pr\u00eats et cr\u00e9ances \u00e0 long terme\u00a0(cf.\u00a0</span><span class=\"f charStyle-81f42323 ps32981\" style=\"width:39.02pt\">Note 9.1.3.1</span><span class=\"f charStyle-81f42323 ps32982\" style=\"width:23.54pt\">, page</span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> </span></div><div class=\"ps13950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:18.35pt\">432)\u00a0;</span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:169.12pt\">la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie (cf. </span><span class=\"f charStyle-165dec60 ps32983\" style=\"width:41.61pt\">Note 9.1.3.2</span><span class=\"f charStyle-165dec60 ps32984\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:40.55pt\">page 432)\u00a0;</span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. </span><span class=\"f charStyle-165dec60 ps32985\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps32986\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps13942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les autres actifs et passifs financiers courants et non</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps13944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:47.88pt\">courants (cf. </span><span class=\"f charStyle-165dec60 ps32987\" style=\"width:35pt\">Note 9.1.5</span><span class=\"f charStyle-165dec60 ps32988\" style=\"width:42.45pt\">, page 439).</span></div><div><div id=\"i2875f4fbc551449b952701acfd85d7df_946\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.1<span id=\"iaaab604da7aa4b348e9ac77525bcb9ff\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps1775\"><span style=\"display:inline-block;height:8.71pt;width:16.55pt\"></span></span><span class=\"ps29285\">M\u00e9thodes d'\u00e9valuation et j</span></span><span class=\"f charStyle-b11f9a65 ps32990\">uste valeur des actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps32992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.1.1<span id=\"i7056fe5c2bea48e5a1ab1bf56bc4141e\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps32991\"><span style=\"display:inline-block;height:8.22pt;width:11.96pt\"></span></span><span class=\"ps29285\">M\u00e9thodes d\u2019\u00e9valuation</span></span></div><div class=\"ps33159 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:215.25pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:24pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;border-right:0.5pt solid #ffffff;padding:0\"><div class=\"ps51 ss1444\"><div><div class=\"ps523 ss121\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps11426\">Valeur au bilan </span><span class=\"f charStyle-6bef0edd ps19256\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-6bef0edd ps32993\"> selon IFRS 9</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;border-left:0.5pt solid #ffffff;padding:0\"><div class=\"ps32995 ss77\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-6bef0edd ps32994\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss76\"><span class=\"f charStyle-6bef0edd ps9351\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps745 ss77\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-ae6044e9 ps32994\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss76\"><span class=\"f charStyle-ae6044e9 ps27393\">2024</span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss2078\"><div><div class=\"ps15630 ss698\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10475 ss1211\"><div><div class=\"ps4232 ss1016\"><span class=\"f charStyle-6bef0edd ps32996\">Co\u00fbt <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-6bef0edd ps3116\">amorti<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps32998 ss2079\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-6bef0edd ps22518\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss719\"><span class=\"f charStyle-6bef0edd ps32997\">par les autres </span></div><div class=\"ps4232 ss719\"><span class=\"f charStyle-6bef0edd ps13710\">\u00e9l\u00e9ments du <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss719\"><span class=\"f charStyle-6bef0edd ps9777\">r\u00e9sultat global<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #ffffff;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps4239 ss2080\"><div><div class=\"ps523 ss804\"><span class=\"f charStyle-6bef0edd ps9863\">Juste <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss804\"><span class=\"f charStyle-6bef0edd ps27332\">valeur</span></div><div class=\"ps10417 ss804\"><span class=\"f charStyle-6bef0edd ps22478\">par r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #ffffff;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps32999 ss1208\"><div><div class=\"ps4232 ss76\"><span class=\"f charStyle-6bef0edd ps27337\">Valeur<span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss76\"><span class=\"f charStyle-6bef0edd ps15639\">au bilan<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33000 ss1208\"><div><div class=\"ps4232 ss76\"><span class=\"f charStyle-ae6044e9 ps27337\">Valeur<span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss76\"><span class=\"f charStyle-ae6044e9 ps15639\">au bilan<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33001 ss2081\"><div><div class=\"ps91 ss698\"><span class=\"f charStyle-8747f844 ps10\">ACTIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31343 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Actifs financiers non courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22579 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placements long terme</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33003 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33005 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.85pt\"></span></span><span class=\"ps33004\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33007 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.49pt\"></span></span><span class=\"ps33006\">243<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33008 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.5pt\"></span></span><span class=\"ps28718\">272<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33009 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.24pt\"></span></span><span class=\"ps32324\">312<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33010 ss2081\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-2bf30bfd ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps511\">Pr\u00eats et cr\u00e9ances \u00e0 long terme (y compris int\u00e9r\u00eats courus)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33011 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.25pt\"></span></span><span class=\"ps17738\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33012 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33014 ss1862\"><div><div class=\"ps509 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33015 ss90\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.75pt\"></span></span><span class=\"ps31478\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33017 ss90\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.92pt\"></span></span><span class=\"ps33016\">25<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22675 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">D\u00e9p\u00f4ts et cautionnements</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33019 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.73pt\"></span></span><span class=\"ps33018\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33020 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33021 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33023 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.23pt\"></span></span><span class=\"ps33022\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33025 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.24pt\"></span></span><span class=\"ps33024\">34<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10539 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Autres actifs financiers non courants</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10543 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.66pt\"></span></span><span class=\"ps16504\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33026 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33027 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33029 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.16pt\"></span></span><span class=\"ps33028\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33031 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23968 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33032 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33033 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.96pt\"></span></span><span class=\"ps32624\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33034 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.69pt\"></span></span><span class=\"ps12739\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33036 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.46pt\"></span></span><span class=\"ps33035\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33038 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.91pt\"></span></span><span class=\"ps33037\">22<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24103 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33039 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33040 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33041 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33042 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33043 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8332 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Actifs sur retraite et engagements assimil\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33044 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33045 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.85pt\"></span></span><span class=\"ps33004\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33046 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33048 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.6pt\"></span></span><span class=\"ps33047\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33050 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.49pt\"></span></span><span class=\"ps33049\">31<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8335 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances clients<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33052 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.34pt\"></span></span><span class=\"ps33051\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33053 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33054 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33055 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.84pt\"></span></span><span class=\"ps25977\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33056 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.84pt\"></span></span><span class=\"ps25977\">2\u00a0656<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3516 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres actifs financiers courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11193 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33057 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33059 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.86pt\"></span></span><span class=\"ps33058\">65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33060 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33061 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.61pt\"></span></span><span class=\"ps31638\">65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33063 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.78pt\"></span></span><span class=\"ps33062\">37<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33064 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33065 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33066 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33067 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.96pt\"></span></span><span class=\"ps32355\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33069 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.46pt\"></span></span><span class=\"ps33068\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33071 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.2pt\"></span></span><span class=\"ps33070\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Int\u00e9r\u00eats courus et autres actifs financiers</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33072 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33073 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33075 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.1pt\"></span></span><span class=\"ps33074\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33076 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.6pt\"></span></span><span class=\"ps33047\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33078 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.94pt\"></span></span><span class=\"ps33077\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33079 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33080 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4318 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.27pt\"></span></span><span class=\"ps33081\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33082 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.77pt\"></span></span><span class=\"ps32689\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33083 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.07pt\"></span></span><span class=\"ps345\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2081\"><div><div class=\"ps91 ss698\"><span class=\"f charStyle-8747f844 ps10\">PASSIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps23717 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers non courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33085 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33086 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33087 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33088 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33089 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16737 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33090 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33091 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33092 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.21pt\"></span></span><span class=\"ps28476\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33093 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33094 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.16pt\"></span></span><span class=\"ps33028\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9890 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33095 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.23pt\"></span></span><span class=\"ps11467\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33096 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33097 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33098 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.73pt\"></span></span><span class=\"ps9877\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33100 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.35pt\"></span></span><span class=\"ps33099\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28702 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33103 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.4pt\"></span></span><span class=\"ps33102\">162<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33104 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33105 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33106 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.9pt\"></span></span><span class=\"ps28842\">162<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33107 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.71pt\"></span></span><span class=\"ps29964\">553<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28708 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne d'investissement)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33109 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.06pt\"></span></span><span class=\"ps33108\">444<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33110 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33111 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33112 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.56pt\"></span></span><span class=\"ps31150\">444<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33114 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.26pt\"></span></span><span class=\"ps33113\">540<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22817 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33116 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.76pt\"></span></span><span class=\"ps33115\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33117 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33118 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33119 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.26pt\"></span></span><span class=\"ps33113\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33120 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.96pt\"></span></span><span class=\"ps28883\">250<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10648 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33122 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.16pt\"></span></span><span class=\"ps33121\">879<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33123 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33124 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33126 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.66pt\"></span></span><span class=\"ps33125\">879<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33127 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.22pt\"></span></span><span class=\"ps29941\">763<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10649 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Dettes fournisseurs<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10652 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.41pt\"></span></span><span class=\"ps33128\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33129 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33130 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33132 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.91pt\"></span></span><span class=\"ps33131\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33133 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.96pt\"></span></span><span class=\"ps26136\">5\u00a0382<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28726 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres passifs financiers courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22718 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33134 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33135 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.42pt\"></span></span><span class=\"ps32201\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33136 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33138 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.17pt\"></span></span><span class=\"ps33137\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33139 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.94pt\"></span></span><span class=\"ps33077\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22721 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33140 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33141 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33143 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.7pt\"></span></span><span class=\"ps33142\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33144 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.2pt\"></span></span><span class=\"ps33070\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33145 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33146 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33147 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.16pt\"></span></span><span class=\"ps33121\">594<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33148 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33149 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33150 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.66pt\"></span></span><span class=\"ps33125\">594<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33151 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.72pt\"></span></span><span class=\"ps31095\">840<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33152 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33153 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33154 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33155 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.97pt\"></span></span><span class=\"ps29988\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33157 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.47pt\"></span></span><span class=\"ps33156\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33158 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.46pt\"></span></span><span class=\"ps33035\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.1.2<span id=\"ie74c6f16cded45ddb68faaaaa51e6189\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2082\"><span style=\"display:inline-block;height:8.22pt;width:10.28pt\"></span></span><span class=\"ps29285\">Estimation de la juste valeur</span></span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps33264 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2083\"><div><div class=\"ps28770 ss296\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33179 ss2084\"><div><div class=\"ps509 ss127\"><span class=\"f charStyle-6bef0edd ps33178\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24068 ss2084\"><div><div class=\"ps509 ss127\"><span class=\"f charStyle-ae6044e9 ps33180\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33182 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps33181\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps16723\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33184 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps33183\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps23121\">de march\u00e9</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps16601 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps3297\">Niveau<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29894 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps33181\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps16723\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16419 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps33183\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps23121\">de march\u00e9</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29897 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps3297\">Niveau<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">ACTIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalent de <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-a696f64a ps10\">tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33186 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33187 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33189 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33188\">1-2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33191 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.35pt\"></span></span><span class=\"ps33190\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33192 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.35pt\"></span></span><span class=\"ps33190\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33193 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Instruments financiers d\u00e9riv\u00e9s </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33195 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.17pt\"></span></span><span class=\"ps33194\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33196 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.17pt\"></span></span><span class=\"ps33194\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33198 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33200 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.95pt\"></span></span><span class=\"ps33199\">80<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33201 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.95pt\"></span></span><span class=\"ps33199\">80<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33202 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps772 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">PASSIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps773 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33203 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.01pt\"></span></span><span class=\"ps1960\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33204 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">4\u00a0128<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33205 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33207 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.63pt\"></span></span><span class=\"ps33206\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16843 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.31pt\"></span></span><span class=\"ps33208\">4\u00a0094<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33209 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps783 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33211 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.18pt\"></span></span><span class=\"ps33210\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33212 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.65pt\"></span></span><span class=\"ps531\">168<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16638 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33214 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.99pt\"></span></span><span class=\"ps33213\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33216 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.67pt\"></span></span><span class=\"ps33215\">563<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33217 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">europ\u00e9enne d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33219 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.84pt\"></span></span><span class=\"ps33218\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33220 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.96pt\"></span></span><span class=\"ps28665\">439<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33221 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33223 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.54pt\"></span></span><span class=\"ps33222\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33225 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.19pt\"></span></span><span class=\"ps33224\">519<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33226 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4601 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33227 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.54pt\"></span></span><span class=\"ps33222\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33228 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.79pt\"></span></span><span class=\"ps31565\">412<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33229 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33231 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.24pt\"></span></span><span class=\"ps33230\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33232 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.5pt\"></span></span><span class=\"ps28437\">251<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33233 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22992 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes financi\u00e8res \u00e0 long <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-a696f64a ps10\">terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33234 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">879<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33235 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">879<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33236 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33237 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">763<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33238 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">763<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33239 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32194 ss2087\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNTS COMPTABILIS\u00c9S <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss296\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a0CO\u00dbT\u00a0AMORTI</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33240 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.63pt\"></span></span><span class=\"ps28741\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33241 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.52pt\"></span></span><span class=\"ps27391\">6\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33242 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33243 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32pt\"></span></span><span class=\"ps31083\">6\u00a0190<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps3718 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33244 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">594<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33245 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">594<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33246 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33247 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37pt\"></span></span><span class=\"ps5559\">840<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33248 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37pt\"></span></span><span class=\"ps5559\">840<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33249 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26238 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33250 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">51<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33251 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">51<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33252 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33254 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.74pt\"></span></span><span class=\"ps33253\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33255 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.74pt\"></span></span><span class=\"ps33253\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33256 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23303 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Instruments financiers d\u00e9riv\u00e9s </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">passifs\u00a0</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33257 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33258 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33259 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33261 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.52pt\"></span></span><span class=\"ps33260\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33262 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.52pt\"></span></span><span class=\"ps33260\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33263 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps19728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps18897\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps33277\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps33278\" style=\"width:163.59pt\">, cet impact pour le Groupe est n\u00e9gligeable.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.2<span id=\"ia52e872cfdc04902a3573b1f9ef33c03\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps15731\"><span style=\"display:inline-block;height:8.71pt;width:14.76pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Endettement financier brut<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:458.56pt\">L\u2019endettement financier brut comprend les dettes financi\u00e8res \u00e0 long terme, les financements court terme et les concours<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps27007\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:37.2pt\">bancaires.<span class=\"f ps53\"> </span></span></div><div class=\"ps33280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:210.75pt\">, l\u2019endettement financier brut du Groupe s\u2019analyse ainsi\u00a0:</span></div><div class=\"ps33318 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss2088\"><div><div class=\"ps10309 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23143\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33283 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps9730\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps28704\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23143\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps9730\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps28704\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-0e45555a ps10\">Dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33289 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.24pt\"></span></span><span class=\"ps33288\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.18pt\"></span></span><span class=\"ps33290\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33292 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.84pt\"></span></span><span class=\"ps7728\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33294 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.37pt\"></span></span><span class=\"ps33293\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33295 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.81pt\"></span></span><span class=\"ps29923\">1\u00a0334<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33296 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.86pt\"></span></span><span class=\"ps27415\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33297 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.11pt\"></span></span><span class=\"ps28598\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33299 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.11pt\"></span></span><span class=\"ps28598\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33300 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33301 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.17pt\"></span></span><span class=\"ps32254\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33302 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.17pt\"></span></span><span class=\"ps32254\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33303 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.92pt\"></span></span><span class=\"ps28656\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33305 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.92pt\"></span></span><span class=\"ps28656\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33306 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33308 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.91pt\"></span></span><span class=\"ps33307\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33309 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.91pt\"></span></span><span class=\"ps33307\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10370 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss762\"><span class=\"f charStyle-96b05324 ps10\">BRUT</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33310 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.87pt\"></span></span><span class=\"ps31030\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33312 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.27pt\"></span></span><span class=\"ps33311\">1\u00a0129<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33314 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.38pt\"></span></span><span class=\"ps33313\">6\u00a0561<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33315 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.01pt\"></span></span><span class=\"ps25830\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33316 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.41pt\"></span></span><span class=\"ps27346\">2\u00a0178<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33317 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">7\u00a0037<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.2.1<span class=\"f ps53\"> </span><span id=\"i86ffe5caa45b4021a1dd0bd086de69d4\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2082\"><span style=\"display:inline-block;height:8.22pt;width:10.28pt\"></span></span><span class=\"ps29285\">Dettes financi\u00e8res \u00e0 long terme</span></span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Ce poste inclut principalement les emprunts obligataires,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.9pt\">les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps33323\" style=\"width:204.09pt\">placements priv\u00e9s, les emprunts contract\u00e9s aupr\u00e8s de</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.88pt\">la\u00a0Banque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33325\" style=\"width:5.28pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps33326\" style=\"width:172.82pt\">europ\u00e9enne d'investissement, les dettes sur</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:88.43pt\">biens lou\u00e9s et les autres </span><span class=\"f charStyle-165dec60 ps33328\" style=\"width:38.96pt\">emprunts.</span><span class=\"f charStyle-165dec60 ps33329\" style=\"width:1.96pt\"> </span></div><div class=\"ps33331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les emprunts sont \u00e9valu\u00e9s au co\u00fbt amorti. Le montant</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.49pt\">des i</span><span class=\"f charStyle-c8069515 ps33332\" style=\"width:196.45pt\">nt\u00e9r\u00eats comptabilis\u00e9s en charges financi\u00e8res est</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:38.66pt\">d\u00e9termin\u00e9</span><span class=\"f charStyle-165dec60 ps5623\" style=\"width:179.29pt\"> par application du taux d\u2019int\u00e9r\u00eat effectif de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">l\u2019emprunt \u00e0 sa valeur comptable. La diff\u00e9rence entre la</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps8503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.91pt\">charge calcul\u00e9e \u00e0 </span><span class=\"f charStyle-9206869b ps33336\" style=\"width:143.06pt\">partir du taux d\u2019int\u00e9r\u00eat effectif et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps418\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:91.05pt\">coupon impacte la valeu</span><span class=\"f charStyle-165dec60 ps33337\" style=\"width:46.73pt\">r de la dette.</span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.97pt\">Lorsqu\u2019un emprunt \u00e0 taux fixe est d\u00e9sign\u00e9 en tant</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:42.77pt\">qu\u2019\u00e9l\u00e9ment</span><span class=\"f charStyle-165dec60 ps33339\" style=\"width:175.19pt\"> couvert dans une relation de couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.74pt\">juste valeur, sa v</span><span class=\"f charStyle-9206869b ps33340\" style=\"width:150.2pt\">aleur comptable est ajust\u00e9e \u00e0 chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:80.95pt\">cl\u00f4ture de la variation</span><span class=\"f charStyle-165dec60 ps4123\" style=\"width:136.97pt\"> de juste valeur imputable au risque</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps33341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.18pt\">couvert.</span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les dettes sur biens lou\u00e9s sont \u00e9valu\u00e9es conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:84.43pt\">au descriptif fourni en </span><span class=\"f charStyle-165dec60 ps33342\" style=\"width:30.54pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps11863\" style=\"width:61.31pt\">, pages 416 \u00e0 418</span><span class=\"f charStyle-165dec60 ps33343\" style=\"width:1.59pt\">.</span></div><div class=\"ps33345 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">D\u00e9tail des dettes financi\u00e8res \u00e0 long terme<span id=\"if985ee38285d4ba4afa0fa7c6b238748\"></span></span></div><div class=\"ps33386 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:26.25pt\"></td><td style=\"padding:0;width:189.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1931\"><div><div class=\"ps10243 ss1239\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td rowspan=\"8\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss2070\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a ps33346\">68 %</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33347 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunts obligataires</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.26pt\"></span></span><span class=\"ps33348\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.88pt\"></span></span><span class=\"ps33349\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32894 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32895 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33350\"></span><span class=\"ps33350\">3 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33351 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Placements priv\u00e9s</span><span class=\"f charStyle-373e86b9 ps30620\"> Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31627 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.43pt\"></span></span><span class=\"ps33352\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31628 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.24pt\"></span></span><span class=\"ps33353\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33354 ss2074\"><div><div class=\"ps32893 ss1\"><span class=\"f charStyle-bdbfbd4c ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33356 ss272\"><div><div class=\"ps6851 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33355\"></span><span class=\"ps33355\">7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33357 ss2091\"><div><div class=\"ps746 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss1388\"><span class=\"f charStyle-044fe383 ps4503\">d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33359 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.09pt\"></span></span><span class=\"ps33358\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33361 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33362 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-cbb4a92e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33363 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33355\"></span><span class=\"ps33355\">7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33364 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33365 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33366 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.49pt\"></span></span><span class=\"ps28430\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33367 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-5d69291e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33368 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10422\"></span><span class=\"ps10422\">12 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33369 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Dettes sur biens lou\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33370 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">718<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33371 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.57pt\"></span></span><span class=\"ps27867\">626<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33372 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-8b704e13 ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33373 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10066\"></span><span class=\"ps10066\">1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33374 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Autres emprunts</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33376 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.03pt\"></span></span><span class=\"ps33375\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33378 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33379 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-ca45fd2d ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22587 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps13680\"></span><span class=\"ps13680\">2 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33380 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Int\u00e9r\u00eats courus non \u00e9chus</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10391 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.29pt\"></span></span><span class=\"ps33381\">121<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10392 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.87pt\"></span></span><span class=\"ps20539\">107<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33382 ss1389\"><div><div class=\"ps746 ss1388\"><span class=\"f charStyle-ae6044e9 ps10\">DETTES FINANCI\u00c8RES \u00c0 LONG TERME<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.88pt\"></span></span><span class=\"ps33383\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33385 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.9pt\"></span></span><span class=\"ps10244\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9volution et caract\u00e9ristiques des emprunts \u00e0 long terme<span id=\"i5aa79b77d3d44a2cb5465da3f43f1a10\"></span></span></div><div class=\"ps33478 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:59.25pt\"></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:44.25pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2092\"><div><div class=\"ps24204 ss424\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps12691 ss2027\"><div><div class=\"ps24203 ss622\"><span class=\"f charStyle-2d71864b ps33389\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss622\"><span class=\"f charStyle-2d71864b ps33390\">obligataires</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss2093\"><div><div class=\"ps24208 ss74\"><span class=\"f charStyle-b2b6bcc2 ps10521\">Placements </span></div><div class=\"ps24203 ss74\"><span class=\"f charStyle-b2b6bcc2 ps17732\">priv\u00e9s </span></div><div class=\"ps24204 ss74\"><span class=\"f charStyle-0d069f04 ps33391\">Schuldschein</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33392 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps3760\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps3402\">BEI</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33395 ss1638\"><div><div class=\"ps24208 ss634\"><span class=\"f charStyle-2d71864b ps3760\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps33393\">bancaires </span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps33394\">bilat\u00e9raux</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps33\">Dettes sur <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps16796\">biens lou\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3691 ss2094\"><div><div class=\"ps24203 ss387\"><span class=\"f charStyle-2d71864b ps33396\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss387\"><span class=\"f charStyle-2d71864b ps3533\">emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16341 ss2094\"><div><div class=\"ps24203 ss387\"><span class=\"f charStyle-2d71864b ps13692\">Int\u00e9r\u00eats <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss387\"><span class=\"f charStyle-2d71864b ps16709\">courus</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33397 ss1638\"><div><div class=\"ps24204 ss634\"><span class=\"f charStyle-d606841d ps9439\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24136 ss2095\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-3f403986 ps10\">VALEUR COMPTABLE </span></div><div class=\"ps18922 ss424\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a01<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\">\u00a0JANVIER </span><span class=\"f charStyle-3f403986 ps33353\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33399 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.72pt\"></span></span><span class=\"ps33398\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33400 ss75\"><div><div class=\"ps523 ss74\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33401 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.98pt\"></span></span><span class=\"ps30641\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33403 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.72pt\"></span></span><span class=\"ps33402\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33405 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.73pt\"></span></span><span class=\"ps33404\">626<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33406 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.66pt\"></span></span><span class=\"ps25192\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33408 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.51pt\"></span></span><span class=\"ps33407\">107<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33409 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10256 ss2045\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-044fe383 ps10\">Augmentations/</span></div><div class=\"ps748 ss424\"><span class=\"f charStyle-044fe383 ps10\">Souscriptions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33410 ss1343\"><div><div class=\"ps516 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.87pt\"></span></span><span class=\"ps29009\">1\u00a0135<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33411 ss85\"><div><div class=\"ps516 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33412 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33413 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.51pt\"></span></span><span class=\"ps1807\">155<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33414 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33416 ss653\"><div><div class=\"ps516 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.54pt\"></span></span><span class=\"ps33415\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33417 ss653\"><div><div class=\"ps516 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33419 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.9pt\"></span></span><span class=\"ps33418\">1\u00a0304<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2047\"><div><div class=\"ps15656 ss424\"><span class=\"f charStyle-044fe383 ps10\">Nouveaux contrats/</span></div><div class=\"ps13845 ss424\"><span class=\"f charStyle-044fe383 ps10\">Renouvellements/</span></div><div class=\"ps15657 ss424\"><span class=\"f charStyle-044fe383 ps10\">Modifications</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33420 ss1592\"><div><div class=\"ps527 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33421 ss2096\"><div><div class=\"ps527 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33422 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33423 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33424 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.32pt\"></span></span><span class=\"ps26762\">266<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33425 ss395\"><div><div class=\"ps527 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31190 ss395\"><div><div class=\"ps527 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33426 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.32pt\"></span></span><span class=\"ps26762\">266<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Remboursements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33428 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.4pt\"></span></span><span class=\"ps33427\">(1\u00a0200)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33429 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.25pt\"></span></span><span class=\"ps31328\">(391)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33430 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.61pt\"></span></span><span class=\"ps10586\">(100)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33431 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33433 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.04pt\"></span></span><span class=\"ps33432\">(152)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3709 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.49pt\"></span></span><span class=\"ps33434\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33435 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33437 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.06pt\"></span></span><span class=\"ps33436\">(1\u00a0848)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22848 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Ajustements de valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33438 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.74pt\"></span></span><span class=\"ps31446\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33439 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33441 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.74pt\"></span></span><span class=\"ps33440\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33442 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33443 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33444 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33445 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33446 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.91pt\"></span></span><span class=\"ps32813\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26340 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33447 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33448 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33449 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33450 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33451 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.02pt\"></span></span><span class=\"ps16353\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33452 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33453 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33454 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.02pt\"></span></span><span class=\"ps16353\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26347 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Autres variations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33455 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33456 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33457 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33458 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33460 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.98pt\"></span></span><span class=\"ps33459\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33462 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.49pt\"></span></span><span class=\"ps33461\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33463 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.54pt\"></span></span><span class=\"ps33415\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33465 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.77pt\"></span></span><span class=\"ps33464\">13<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8736 ss2095\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-3f403986 ps10\">VALEUR COMPTABLE </span></div><div class=\"ps18922 ss424\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32193\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33467 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.13pt\"></span></span><span class=\"ps33466\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33468 ss75\"><div><div class=\"ps523 ss74\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33469 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.21pt\"></span></span><span class=\"ps26166\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33470 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.98pt\"></span></span><span class=\"ps30641\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33472 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.15pt\"></span></span><span class=\"ps33471\">718<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33474 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.94pt\"></span></span><span class=\"ps33473\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33475 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.89pt\"></span></span><span class=\"ps18603\">121<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33477 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.63pt\"></span></span><span class=\"ps33476\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.3pt\">Le Groupe a r\u00e9alis\u00e9 plusieurs op\u00e9rations de financement au</span><span class=\"f charStyle-4afdd138 ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps31560 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:20.32pt\">cours</span><span class=\"f charStyle-165dec60 ps33479\" style=\"width:50.05pt\"> de l'exercice </span><span class=\"f charStyle-165dec60 ps33480\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps1937\" style=\"width:3.55pt\"> :<span class=\"f ps53\"> </span></span></div><div class=\"ps13993 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">Le 22 janvier 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps13994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:153.74pt\">pour un montant de 100 millions d'euros.</span></div><div class=\"ps18293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">Le 10 f\u00e9vrier 2025, Valeo a proc\u00e9d\u00e9 au paiement d'une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps18294 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">\u00e9ch\u00e9ance de 50 millions d'euros sur la deuxi\u00e8me tranche</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps33481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">de l'emprunt aupr\u00e8s de la Banque Europ\u00e9enne</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:65.25pt\">d'Investissement.</span></div><div class=\"ps18301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">Le 9 avril 2025, Valeo a proc\u00e9d\u00e9 au remboursement des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">tranches 3 et 4 du Schuldschein (placement priv\u00e9 de droit</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps18303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">allemand) \u00e9mis en 2019, pour un montant nominal</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:213.2pt\">respectif de 90 millions d'euros et de 123 millions d'euros.</span></div><div class=\"ps17980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">Le 20 mai 2025, le Groupe a \u00e9mis un emprunt obligataire</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17981 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">de 650 millions d'euros, \u00e0 \u00e9ch\u00e9ance mai 2031 et assorti d'un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">coupon de 5,125%. Ces obligations vertes ont \u00e9t\u00e9 \u00e9mises</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">dans le cadre du Green and Sustainability-Linked</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.14pt\">Financing\u00a0 Framework \u00e9tabli en juillet 2021 et mis \u00e0 jour en</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps17988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">septembre 2023, et serviront \u00e0 financer les projets et</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">investissements li\u00e9s au portefeuille de technologies qui</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">contribuent \u00e0 la mobilit\u00e9 \u00e0 faible \u00e9mission de carbone, en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps33484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:162.07pt\">particulier pour l'\u00e9lectrification du v\u00e9hicule.</span></div><div class=\"ps17992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">Le 18 juin 2025, Valeo a proc\u00e9d\u00e9 au remboursement de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">l'emprunt obligataire de 600 millions d'euros, qui avait \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">\u00e9mis en 2018 dans le cadre du programme de financement</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:183.19pt\">\u00e0 moyen et long terme Euro Medium Term Note.</span></div><div class=\"ps31558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">Le 18 juin 2025, Valeo a proc\u00e9d\u00e9 au paiement d'une</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps31560 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">\u00e9ch\u00e9ance de 50 millions d'euros sur la premi\u00e8re tranche de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33485 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.2pt\">l'emprunt aupr\u00e8s de la Banque Europ\u00e9enne</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps33486 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:65.25pt\">d'Investissement.</span></div><div class=\"ps13995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.23pt\">Le 22 ao\u00fbt 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps13996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:149.61pt\">pour un montant de 25 millions d'euros.</span></div><div class=\"ps33481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">Le 23 septembre 2025, le Groupe a \u00e9mis un emprunt</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps33482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">obligataire de 500 millions d'euros, \u00e0 \u00e9ch\u00e9ance mars 2032</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps33487 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">et assorti d'un coupon de 4,625%. Ces obligations vertes</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">ont \u00e9t\u00e9 \u00e9mises dans le cadre du Green and Sustainability-</span></div><div class=\"ps33489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">Linked Financing Framework \u00e9tabli en juillet 2021 et mis \u00e0</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33490 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">jour en septembre 2023, et serviront \u00e0 financer les projets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps33491 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">et investissements li\u00e9s au portefeuille de technologies qui</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps9009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">contribuent \u00e0 la mobilit\u00e9 \u00e0 faible \u00e9mission de carbone, en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:162.07pt\">particulier pour l'\u00e9lectrification du v\u00e9hicule.</span></div><div class=\"ps33492 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">Le 31 octobre 2025, Valeo a proc\u00e9d\u00e9 au remboursement</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps33493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">des tranches 1 et 2 du Schuldschein (placement priv\u00e9 de</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps33494 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">droit allemand) \u00e9mis en 2022, pour un montant nominal</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:213.9pt\">respectif de 30 millions d'euros et de 149 millions d'euros.</span></div><div class=\"ps18308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">Le 31 octobre 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps33484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:150.3pt\">pour un montant de 30 millions d'euros.</span></div><div class=\"ps17992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">Le 18 d\u00e9cembre 2025, Valeo a exerc\u00e9 son option de</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps18311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">remboursement anticip\u00e9 de l\u2019emprunt obligataire de 600</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps18312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">millions d\u2019euros \u00e9mis en 2016, dont l\u2019\u00e9ch\u00e9ance \u00e9tait fix\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps31668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:40.6pt\">mars 2026.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:295.05pt\">, les principales caract\u00e9ristiques des emprunts \u00e0 long terme sont les suivantes\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:158.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:50.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2098\"><div><div class=\"ps33495 ss788\"><span class=\"f charStyle-ae6044e9 ps10\">Type<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11015 ss2099\"><div><div class=\"ps33496 ss382\"><span class=\"f charStyle-a8b3a41c ps29045\">Encours au </span></div><div class=\"ps33498 ss382\" style=\"font-size:12pt\"><span class=\"f charStyle-a8b3a41c ps33497\">31\u00a0d\u00e9cembre </span></div><div class=\"ps33500 ss382\" style=\"font-size:12pt\"><span class=\"f charStyle-a8b3a41c ps33499\">2025</span><span class=\"f charStyle-a8b3a41c ps32685\"> </span></div><div class=\"ps33501 ss382\"><span class=\"f charStyle-d3269767 ps28775\">(en millions <span class=\"f ps53\"> </span></span></div><div class=\"ps33502 ss382\"><span class=\"f charStyle-d3269767 ps26445\">d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3739 ss2100\"><div><div class=\"ps33495 ss723\"><span class=\"f charStyle-5ffca5e0 ps25727\">\u00c9mission<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30897 ss2101\"><div><div class=\"ps33495 ss74\"><span class=\"f charStyle-5ffca5e0 ps33503\">\u00c9ch\u00e9ance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33505 ss2102\"><div><div class=\"ps33496 ss48\"><span class=\"f charStyle-a8b3a41c ps29072\">Nominal </span></div><div class=\"ps33498 ss48\"><span class=\"f charStyle-a8b3a41c ps14407\">restant </span></div><div class=\"ps33500 ss48\"><span class=\"f charStyle-a8b3a41c ps22806\">d\u00fb\u00a0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-d3269767 ps28860\">(en <span class=\"f ps53\"> </span></span></div><div class=\"ps33501 ss48\"><span class=\"f charStyle-d3269767 ps33504\">millions <span class=\"f ps53\"> </span></span></div><div class=\"ps33502 ss48\"><span class=\"f charStyle-d3269767 ps13727\">d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24069 ss1364\"><div><div class=\"ps33495 ss1016\"><span class=\"f charStyle-5ffca5e0 ps3092\">Devise<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11509 ss2103\"><div><div class=\"ps9400 ss331\"><span class=\"f charStyle-5ffca5e0 ps24272\">Taux d'int\u00e9r\u00eat <span class=\"f ps53\"> </span></span></div><div class=\"ps33495 ss331\"><span class=\"f charStyle-5ffca5e0 ps8187\">nominal<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11511 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNTS OBLIGATAIRES<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4545 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33508 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.21pt\"></span></span><span class=\"ps33507\">698<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33509 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32246\">Juillet 2021<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33510 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps16669\">Ao\u00fbt 2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33512 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.58pt\"></span></span><span class=\"ps33511\">700<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33514 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11518 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps10474\">1,00 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8277 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><span class=\"f ps53\"> </span><sup>(1) (3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33516 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.76pt\"></span></span><span class=\"ps33515\">751<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33517 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-044fe383 ps10164\">Novembre 2022</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33519 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-044fe383 ps33518\">Mai 2027</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33520 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.3pt\"></span></span><span class=\"ps27221\">750<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33521 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11520 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps351\">5,375 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN</span><span class=\"f charStyle-4da12822 ps33522\"><span class=\"f ps53\"> </span><sup> (2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33524 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.9pt\"></span></span><span class=\"ps33523\">597<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33525 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps16735\">Octobre 2023<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33527 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33526\">Avril 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33529 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.43pt\"></span></span><span class=\"ps33528\">600<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33530 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11523 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps16876\">5,875 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN</span><span class=\"f charStyle-4da12822 ps33522\"><span class=\"f ps53\"> </span><sup> (2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33531 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.16pt\"></span></span><span class=\"ps4267\">843<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33532 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps25294\">Avril 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33534 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33533\">Avril 2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33536 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.93pt\"></span></span><span class=\"ps33535\">850<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33537 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11525 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps31230\">4,50 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps22848 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33539 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.38pt\"></span></span><span class=\"ps33538\">643<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33540 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps4237\">Mai 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33542 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33541\">Mai 2031<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33544 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.15pt\"></span></span><span class=\"ps33543\">650<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33545 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33547 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33546\">5,125 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26340 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33548 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">494<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33550 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33549\">Septembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33552 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33551\">Mars 2032<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33554 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.75pt\"></span></span><span class=\"ps33553\">500<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33555 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33556 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps1050\"></span><span class=\"ps1050\">4,625 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26347 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENT PRIV\u00c9 SCHULDSCHEIN \u00c9MIS EN 2022<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps8736 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 3 </span><span class=\"f charStyle-4da12822 ps33557\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33559 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.93pt\"></span></span><span class=\"ps33558\">30<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33560 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33561 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33563 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.73pt\"></span></span><span class=\"ps33562\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33564 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33565 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33546\">5,251 %</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3714 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 4 </span><span class=\"f charStyle-4da12822 ps33566\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33567 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.62pt\"></span></span><span class=\"ps16863\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33568 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33569 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33570 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.42pt\"></span></span><span class=\"ps32346\">52<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33571 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33573 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33572\">Euribor 6 mois </span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-044fe383 ps357\">+\u00a02,10\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23044 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 5 </span><span class=\"f charStyle-4da12822 ps33574\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33575 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.93pt\"></span></span><span class=\"ps33558\">30<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33576 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps26368\">D\u00e9cembre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33577 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33578 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.73pt\"></span></span><span class=\"ps33562\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33579 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33580 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33572\">Euribor 6 mois <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-a696f64a ps357\">+\u00a02,10\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22995 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 6 </span><span class=\"f charStyle-4da12822 ps33581\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33583 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.87pt\"></span></span><span class=\"ps33582\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33584 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33586 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33585\">Octobre 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33587 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.67pt\"></span></span><span class=\"ps32152\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33588 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33589 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps20813\">5,503 %</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4629 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 7 </span><span class=\"f charStyle-4da12822 ps33590\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33592 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.92pt\"></span></span><span class=\"ps33591\">45<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33593 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps26368\">D\u00e9cembre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33594 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps33585\">Octobre 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33596 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.72pt\"></span></span><span class=\"ps33595\">45<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33597 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33598 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33572\">Euribor 6 mois <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-a696f64a ps11382\">+\u00a02,30\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17870 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNT BEI (BANQUE EUROP\u00c9ENNE D\u2019INVESTISSEMENT)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33600 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 1 </span><span class=\"f charStyle-4da12822 ps33599\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33601 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.07pt\"></span></span><span class=\"ps28704\">198<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33602 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps3730\">Juin 2021<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33603 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32097\">Juin 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33604 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.74pt\"></span></span><span class=\"ps31151\">200<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33605 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33607 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33606\">1,265 %</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33609 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 2 </span><span class=\"f charStyle-4da12822 ps33608\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33611 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.35pt\"></span></span><span class=\"ps33610\">246<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33613 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33612\">F\u00e9vrier 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33614 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps3765\">F\u00e9vrier 2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33616 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.46pt\"></span></span><span class=\"ps33615\">250<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33617 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33618 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps9860\">1,463 %</span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33619 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">AUTRES<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps23592 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Dettes sur biens lou\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33620 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.22pt\"></span></span><span class=\"ps28744\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33622 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33623 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33624 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.02pt\"></span></span><span class=\"ps9416\">718<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33625 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33627 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps12974 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33628 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.96pt\"></span></span><span class=\"ps1346\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33629 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33630 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33632 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.76pt\"></span></span><span class=\"ps33631\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33633 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33634 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25972 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Autres dettes financi\u00e8res \u00e0\u00a0long\u00a0terme\u00a0</span><span class=\"f charStyle-4da12822 ps33635\"><span class=\"f ps53\"> </span><sup>(6)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33636 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.15pt\"></span></span><span class=\"ps26339\">161<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33637 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33638 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33639 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.95pt\"></span></span><span class=\"ps17287\">161<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33640 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33641 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11241 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES \u00c0 LONG TERME<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33643 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.63pt\"></span></span><span class=\"ps33642\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps33644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:218.69pt\">Clause d'indexation sur un objectif d'empreinte carbone \u00e0 fin 2025.</span></div><div class=\"ps33645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.71pt\">\u00c9missions r\u00e9alis\u00e9es dans le Cadre de financements verts et durables de Valeo.</span></div><div class=\"ps33646 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:467.15pt\">Coupons \u00e0 taux fixes partiellement \u00e9chang\u00e9s contre des coupons \u00e0 taux variables index\u00e9s sur le taux Euribor 6 mois via des swaps de taux</span><span class=\"f charStyle-b70a9be1 ps460\" style=\"width:1.67pt\"> </span></div><div class=\"ps33648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:30.41pt\">d'int\u00e9r\u00eats</span><span class=\"f charStyle-776a1ec6 ps33647\" style=\"width:127.55pt\"> d'un notionnel de 600 millions d'euros.</span></div><div class=\"ps33649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:309.22pt\">Emprunt \u00e0 taux bonifi\u00e9 amortissable en 6 annuit\u00e9s de 50 millions d'euros \u00e0 partir de juin 2024.</span></div><div class=\"ps33650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:316.83pt\">Emprunt \u00e0 taux bonifi\u00e9 amortissable en 6 annuit\u00e9s de 50 millions d'euros \u00e0 partir de f\u00e9vrier 2025.</span></div><div class=\"ps33653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.21pt\">(6)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:334.73pt\">Les autres dettes financi\u00e8res \u00e0 long terme incluent principalement les int\u00e9r\u00eats courus non \u00e9chus pour </span><span class=\"f charStyle-776a1ec6 ps33651\" style=\"width:8.37pt\">121</span><span class=\"f charStyle-776a1ec6 ps33652\" style=\"width:54.08pt\"> millions d'euros.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3ecc6c69 ps275\" style=\"width:129.28pt\"><span style=\"background-color:inherit\">Le programme de financement </span></span><span class=\"f charStyle-8792821d ps33654\" style=\"width:100.05pt\"><span style=\"background-color:inherit\">Euro Medium Term Note</span></span><span class=\"f charStyle-3ecc6c69 ps412\" style=\"width:1.86pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3ecc6c69 ps275\" style=\"width:36.7pt\"><span style=\"background-color:inherit\">(EMTN) \u00e0 </span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-ba33fa8f ps33655\" style=\"width:192.58pt\"><span style=\"background-color:inherit\">moyen et \u00e0 long terme d\u2019un montant maximum de 5</span></span><span class=\"f charStyle-ba33fa8f ps610\" style=\"width:1.65pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba33fa8f ps275\" style=\"width:56.91pt\"><span style=\"background-color:inherit\">milliards d\u2019euros</span></span><span class=\"f charStyle-3ecc6c69 ps9549\" style=\"width:7.31pt\"><span style=\"background-color:inherit\"> d</span></span><span class=\"f charStyle-7b89e0e3 ps33656\" style=\"width:165.07pt\"><span style=\"background-color:inherit\">ont dispose le Groupe est utilis\u00e9 \u00e0 hauteur de</span></span><span class=\"f charStyle-7b89e0e3 ps425\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps275\" style=\"width:73.73pt\"><span style=\"background-color:inherit\">4,1\u00a0milliards d\u2019euros </span></span><span class=\"f charStyle-68ecf294 ps33657\" style=\"width:12.36pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-165dec60 ps33658\" style=\"width:69.34pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps33659\" style=\"width:73.85pt\"><span style=\"background-color:inherit\">, stable par rapport</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:11.42pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-165dec60 ps28395\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps30960\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:87.39pt\"><span style=\"background-color:inherit\">Par ailleurs, le Groupe </span></span><span class=\"f charStyle-7b89e0e3 ps33660\" style=\"width:141.93pt\"><span style=\"background-color:inherit\">dispose de lignes de cr\u00e9dit bancaires</span></span><span class=\"f charStyle-7b89e0e3 ps639\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:229.26pt\"><span style=\"background-color:inherit\">confirm\u00e9es \u00e0 \u00e9ch\u00e9ance moyenne de 2,6 ans pour un montant</span></span><span class=\"f charStyle-7b89e0e3 ps471\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:30.36pt\"><span style=\"background-color:inherit\">total de </span></span><span class=\"f charStyle-7b89e0e3 ps33661\" style=\"width:8.31pt\"><span style=\"background-color:inherit\">1,6</span></span><span class=\"f charStyle-7b89e0e3 ps33662\" style=\"width:2.4pt\"><span style=\"background-color:inherit\">\u00a0</span></span><span class=\"f charStyle-7b89e0e3 ps33663\" style=\"width:188.23pt\"><span style=\"background-color:inherit\">milliard d\u2019euros, au titre desquelles aucun tirage n\u2019a</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps449\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:67.62pt\"><span style=\"background-color:inherit\">\u00e9t\u00e9 effectu\u00e9 au </span></span><span class=\"f charStyle-7b89e0e3 ps14766\" style=\"width:72.64pt\"><span style=\"background-color:inherit\">31\u00a0d\u00e9cembre 2025</span></span><span class=\"f charStyle-7b89e0e3 ps33664\" style=\"width:89.07pt\"><span style=\"background-color:inherit\">. Ces lignes de cr\u00e9dit</span></span><span class=\"f charStyle-7b89e0e3 ps450\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">bilat\u00e9rales ont \u00e9t\u00e9 n\u00e9goci\u00e9es aupr\u00e8s de neuf banques (notation</span></span><span class=\"f charStyle-7b89e0e3 ps460\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:152.11pt\"><span style=\"background-color:inherit\">moyenne\u00a0: A chez S&amp;P et A1 chez Moody\u2019s).</span></span></div><div class=\"ps26573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ancier des dettes financi\u00e8res \u00e0 long terme<span id=\"i13b91da695294249b070bd676f0069e7\"></span></span></div><div class=\"ps33758 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2114 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:48pt\"></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:47.25pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2106\"><div><div class=\"ps33666 ss491\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"7\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33668 ss2107\"><div><div class=\"ps509 ss52\"><span class=\"f charStyle-6bef0edd ps33667\">\u00c9ch\u00e9ances des valeurs au bilan<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33670 ss411\"><div><div class=\"ps9323 ss379\"><span class=\"f charStyle-6bef0edd ps33669\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps9325 ss379\"><span class=\"f charStyle-6bef0edd ps14624\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps27531 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps33671\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33673 ss2110\"><div><div class=\"ps509 ss2109\"><span class=\"f charStyle-ae6044e9 ps33672\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33674 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-ae6044e9 ps31015\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33676 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps33675\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33677 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps10586\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13683 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps26392\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33679 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps33678\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33682 ss624\"><div><div class=\"ps509 ss319\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps10452\">2031</span><span class=\"f charStyle-98f46611 ps33680\"> et </span></div><div class=\"ps523 ss319\"><span class=\"f charStyle-98f46611 ps33681\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33683 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.43pt\"></span></span><span class=\"ps29927\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33685 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33686 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.26pt\"></span></span><span class=\"ps3427\">751<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33687 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.71pt\"></span></span><span class=\"ps1005\">698<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33688 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.71pt\"></span></span><span class=\"ps25437\">572<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33690 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.49pt\"></span></span><span class=\"ps33689\">868<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33691 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.12pt\"></span></span><span class=\"ps9966\">1\u00a0137<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33693 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.6pt\"></span></span><span class=\"ps33692\">162<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33694 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33695 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.96pt\"></span></span><span class=\"ps1346\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33696 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33698 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.41pt\"></span></span><span class=\"ps33697\">50<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33699 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33700 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunt BEI (Banque europ\u00e9enne <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-a696f64a ps10\">d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33701 ss1602\"><div><div class=\"ps6851 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.26pt\"></span></span><span class=\"ps30997\">444<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33703 ss1270\"><div><div class=\"ps6851 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.52pt\"></span></span><span class=\"ps33702\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33705 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33706 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33707 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33708 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.12pt\"></span></span><span class=\"ps28199\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33709 ss353\"><div><div class=\"ps6851 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Dettes sur biens lou\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33710 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.22pt\"></span></span><span class=\"ps25814\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33711 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">132<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33712 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33714 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.17pt\"></span></span><span class=\"ps33713\">108<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33715 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.71pt\"></span></span><span class=\"ps25700\">105<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33717 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.81pt\"></span></span><span class=\"ps33716\">59<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33718 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.61pt\"></span></span><span class=\"ps31283\">195<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33719 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.96pt\"></span></span><span class=\"ps3784\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33720 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.5pt\"></span></span><span class=\"ps29973\">110<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33721 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.09pt\"></span></span><span class=\"ps28640\">60<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33722 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.25pt\"></span></span><span class=\"ps26061\">110<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33724 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.42pt\"></span></span><span class=\"ps33723\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33725 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33726 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Autres emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33728 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.2pt\"></span></span><span class=\"ps33727\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33730 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.39pt\"></span></span><span class=\"ps33729\">23<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33731 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.39pt\"></span></span><span class=\"ps10898\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33732 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.36pt\"></span></span><span class=\"ps28952\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33733 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.91pt\"></span></span><span class=\"ps9373\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33734 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.91pt\"></span></span><span class=\"ps9373\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33736 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.45pt\"></span></span><span class=\"ps33735\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps575 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus non \u00e9chus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33738 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.46pt\"></span></span><span class=\"ps33737\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33740 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.21pt\"></span></span><span class=\"ps33739\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33741 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33742 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33743 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33744 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33745 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3833 ss2113\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss491\"><span class=\"f charStyle-96b05324 ps10\">\u00c0\u00a0LONG\u00a0TERME</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33747 ss397\"><div><div class=\"ps23602 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.63pt\"></span></span><span class=\"ps33746\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33749 ss1291\"><div><div class=\"ps23602 ss1241\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.35pt\"></span></span><span class=\"ps33748\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33751 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.6pt\"></span></span><span class=\"ps33750\">1\u00a0143<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33753 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.38pt\"></span></span><span class=\"ps33752\">1\u00a0016<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33754 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.17pt\"></span></span><span class=\"ps33713\">951<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33755 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.61pt\"></span></span><span class=\"ps4188\">980<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33757 ss624\"><div><div class=\"ps23602 ss319\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.64pt\"></span></span><span class=\"ps33756\">1\u00a0342<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33759 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-435f58e9 ps275\"><span style=\"background-color:inherit\">\u00c9ch\u00e9ancier contractuel des dettes financi\u00e8res \u00e0 long terme</span><span id=\"ib0fb3e313da449ab9ccd4d3bbe9acf0e\"></span></span></div><div class=\"ps21910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.12pt\"><span style=\"background-color:inherit\">Dans sa gestion du risque de liquidit\u00e9, le Groupe veille \u00e0 r\u00e9partir les \u00e9ch\u00e9ances de remboursement de sa dette \u00e0 long terme\u00a0: au</span></span><span class=\"f charStyle-68ecf294 ps1717\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps21911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps9314\" style=\"width:239.26pt\"><span style=\"background-color:inherit\">, la maturit\u00e9 moyenne de la dette Valeo (soci\u00e9t\u00e9 m\u00e8re) ressort \u00e0 </span></span><span class=\"f charStyle-68ecf294 ps33760\" style=\"width:10.76pt\"><span style=\"background-color:inherit\">3,4</span><span id=\"i75d2ecb028f54648b25eb91ce843565a_9795\"></span></span><span class=\"f charStyle-68ecf294 ps33761\" style=\"width:82.7pt\"><span style=\"background-color:inherit\"> ans contre 2,8 ans au </span></span><span class=\"f charStyle-165dec60 ps33762\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps33763\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps8394 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">Les flux futurs pr\u00e9sent\u00e9s ci-dessous, \u00e0 la fois les coupons et les remboursements du principal, ne sont pas actualis\u00e9s. Pour les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps21913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:134.53pt\">int\u00e9r\u00eats variables, la courbe de taux </span><span class=\"f charStyle-e8054d08 ps15763\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps33764\" style=\"width:13.38pt\"> au </span><span class=\"f charStyle-165dec60 ps29850\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps33765\" style=\"width:50.82pt\"> a \u00e9t\u00e9 utilis\u00e9e.</span></div><div class=\"ps33864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2106\"><div><div class=\"ps33666 ss491\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"8\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33668 ss2116\"><div><div class=\"ps509 ss2115\"><span class=\"f charStyle-6bef0edd ps4036\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33670 ss2117\"><div><div class=\"ps9323 ss319\"><span class=\"f charStyle-a8b3a41c ps22664\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps9325 ss319\"><span class=\"f charStyle-a8b3a41c ps33766\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33768 ss414\"><div><div class=\"ps9325 ss200\"><span class=\"f charStyle-5ffca5e0 ps33767\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33769 ss1769\"><div><div class=\"ps509 ss1768\"><span class=\"f charStyle-5ffca5e0 ps275\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30275 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-5ffca5e0 ps3875\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33771 ss2118\"><div><div class=\"ps9325 ss204\"><span class=\"f charStyle-a8b3a41c ps33770\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33772 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps15639\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33773 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps15649\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33774 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps23465\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33775 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps23605\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33778 ss402\"><div><div class=\"ps509 ss387\" style=\"font-size:12pt\"><span class=\"f charStyle-f660c20c ps33776\">2031</span><span class=\"f charStyle-f660c20c ps33777\"> et </span></div><div class=\"ps523 ss387\"><span class=\"f charStyle-f660c20c ps16452\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33683 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.43pt\"></span></span><span class=\"ps33779\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33781 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.29pt\"></span></span><span class=\"ps33780\">166<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33782 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.39pt\"></span></span><span class=\"ps31014\">927<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33784 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.2pt\"></span></span><span class=\"ps33783\">837<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33786 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.02pt\"></span></span><span class=\"ps33785\">730<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33787 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.86pt\"></span></span><span class=\"ps28786\">945<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33789 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.02pt\"></span></span><span class=\"ps33788\">1\u00a0230<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33790 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.71pt\"></span></span><span class=\"ps32075\">4\u00a0835<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33693 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.6pt\"></span></span><span class=\"ps33791\">162<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33792 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.7pt\"></span></span><span class=\"ps27342\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33794 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.65pt\"></span></span><span class=\"ps33793\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33795 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.36pt\"></span></span><span class=\"ps9394\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33797 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.12pt\"></span></span><span class=\"ps33796\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33799 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33800 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33802 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.42pt\"></span></span><span class=\"ps33801\">180<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-044fe383 ps10\">d'investissement)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33701 ss353\"><div><div class=\"ps6851 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.26pt\"></span></span><span class=\"ps17303\">444<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33804 ss273\"><div><div class=\"ps6851 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.89pt\"></span></span><span class=\"ps33803\">106<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33805 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.71pt\"></span></span><span class=\"ps18620\">105<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33807 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.73pt\"></span></span><span class=\"ps33806\">103<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33809 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.7pt\"></span></span><span class=\"ps33808\">102<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33811 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.67pt\"></span></span><span class=\"ps33810\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33812 ss653\"><div><div class=\"ps6851 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33813 ss276\"><div><div class=\"ps6851 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.94pt\"></span></span><span class=\"ps31034\">467<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Dettes sur biens lou\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33710 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33815 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.61pt\"></span></span><span class=\"ps18585\">159<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33817 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.74pt\"></span></span><span class=\"ps33816\">134<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33818 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.42pt\"></span></span><span class=\"ps27337\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33820 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.8pt\"></span></span><span class=\"ps33819\">117<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33821 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.27pt\"></span></span><span class=\"ps33081\">68<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33822 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.92pt\"></span></span><span class=\"ps33181\">215<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33823 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.6pt\"></span></span><span class=\"ps23301\">818<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33719 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.96pt\"></span></span><span class=\"ps9790\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33825 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.21pt\"></span></span><span class=\"ps33824\">124<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33826 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.5pt\"></span></span><span class=\"ps10740\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33827 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.7pt\"></span></span><span class=\"ps33808\">120<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33828 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.1pt\"></span></span><span class=\"ps9732\">126<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33829 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33830 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33831 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.26pt\"></span></span><span class=\"ps23666\">441<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Autres emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33728 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.2pt\"></span></span><span class=\"ps16827\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33832 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.64pt\"></span></span><span class=\"ps26764\">23<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33833 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.39pt\"></span></span><span class=\"ps32263\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33834 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.36pt\"></span></span><span class=\"ps9394\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33836 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.91pt\"></span></span><span class=\"ps33835\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33837 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.91pt\"></span></span><span class=\"ps33835\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33838 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.45pt\"></span></span><span class=\"ps4352\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33839 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.95pt\"></span></span><span class=\"ps731\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps575 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Int\u00e9r\u00eats courus non \u00e9chus</span><span class=\"f charStyle-4da12822 ps33840\"><span class=\"f ps53\"> </span><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33738 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.46pt\"></span></span><span class=\"ps33841\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33843 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.46pt\"></span></span><span class=\"ps33842\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33844 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33845 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33846 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33847 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33848 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33849 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.21pt\"></span></span><span class=\"ps33824\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3833 ss2113\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss491\"><span class=\"f charStyle-96b05324 ps10\">\u00c0\u00a0LONG\u00a0TERME</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33747 ss624\"><div><div class=\"ps23602 ss319\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.63pt\"></span></span><span class=\"ps33850\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33852 ss400\"><div><div class=\"ps23602 ss200\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.38pt\"></span></span><span class=\"ps33851\">706<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33854 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.47pt\"></span></span><span class=\"ps33853\">1\u00a0359<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33856 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">1\u00a0189<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33858 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.87pt\"></span></span><span class=\"ps33857\">1\u00a0128<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33860 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.86pt\"></span></span><span class=\"ps33859\">1\u00a0065<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33862 ss402\"><div><div class=\"ps23602 ss387\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.55pt\"></span></span><span class=\"ps33861\">1\u00a0455<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33863 ss2119\"><div><div class=\"ps23602 ss204\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.34pt\"></span></span><span class=\"ps33051\">6\u00a0902<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4fadb3f4 ps269\" style=\"width:467.11pt\">Les flux de tr\u00e9sorerie relatifs aux Int\u00e9r\u00eats courus non \u00e9chus sont inclus dans les flux de tr\u00e9sorerie contractuels \u00e0 moins d'un an des dettes</span><span class=\"f charStyle-4fadb3f4 ps455\" style=\"width:1.6pt\"> </span></div><div class=\"ps33867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4fadb3f4 ps269\" style=\"width:35.02pt\">financi\u00e8res</span><span class=\"f charStyle-776a1ec6 ps33866\" style=\"width:93.03pt\"> auxquelles ils se rattachent.</span></div><div class=\"ps33868 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Engagements hors bilan li\u00e9s au financement du Groupe<span id=\"i1610200db2f44ff5a6d044ae418a2bb9\"></span></span></div><div class=\"ps33869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.2pt\">Certains contrats de financement comportent des clauses de remboursement anticip\u00e9 en cas de non-respect de ratios</span><span class=\"f charStyle-165dec60 ps1231\" style=\"width:1.96pt\"> </span></div><div class=\"ps33870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:232.04pt\">financiers. Le\u00a0principal ratio est d\u00e9crit dans le tableau suivant\u00a0:</span></div><div class=\"ps33879 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:127.5pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-right:1pt solid #ffffff;padding:0\"><div class=\"ps1 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-ae6044e9 ps10\">Contrats de financement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:1pt solid #ffffff;padding:0\"><div class=\"ps33668 ss1605\"><div><div class=\"ps746 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Ratio<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33871 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-ae6044e9 ps10\">Seuils<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33874 ss2121\"><div><div class=\"ps746 ss2120\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps16723\">Ratio au </span><span class=\"f charStyle-6bef0edd ps28653\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-6bef0edd ps33872\"> </span><span class=\"f charStyle-873f2209 ps33873\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-right:1pt solid #ffffff;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Lignes de cr\u00e9dit </span></div></div></div></td><td rowspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:1pt solid #ffffff;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33670 ss2122\"><div><div class=\"ps14824 ss1604\"><span class=\"f charStyle-044fe383 ps10\">Endettement financier net consolid\u00e9 / </span></div><div class=\"ps33875 ss1604\"><span class=\"f charStyle-044fe383 ps10\">EBITDA ajust\u00e9 consolid\u00e9</span></div></div></div></td><td rowspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33876 ss2123\"><div><div class=\"ps13688 ss696\"><span class=\"f charStyle-a696f64a ps10\">&lt; 3,5<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"4\" style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33878 ss2124\"><div><div class=\"ps13688 ss2120\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:113.15pt\"></span></span><span class=\"ps33877\">1,3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps519 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-044fe383 ps10\">d'investissement)</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps16552 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-right:1pt solid #ffffff;padding:0\"><div class=\"ps10526 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33880 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-776a1ec6 ps275\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\">Calcul\u00e9 sur 12 mois.</span></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:51.76pt\">Les emprun</span><span class=\"f charStyle-165dec60 ps33881\" style=\"width:177.53pt\">ts obligataires, \u00e9mis dans le cadre du</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:49.75pt\">programme </span><span class=\"f charStyle-4afdd138 ps33882\" style=\"width:179.54pt\">de financement \u00e0 moyen et long terme Euro</span><span class=\"f charStyle-4afdd138 ps425\" style=\"width:1.9pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:78.13pt\">Medium Term Note, </span><span class=\"f charStyle-165dec60 ps33883\" style=\"width:151.14pt\">comportent une option qui permet aux</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:153.15pt\">obligataires de demander le rembourse</span><span class=\"f charStyle-165dec60 ps33884\" style=\"width:76.13pt\">ment anticip\u00e9 ou le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">rachat de leurs obligations si un changement de contr\u00f4le de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Valeo intervient et qu\u2019il entra\u00eene (i) un retrait de la notation</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">de l\u2019obligation ou (ii) une baisse de la notation de l\u2019obligation</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">en dessous de celle de valeur d\u2019investissement (investment</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">grade), dans l\u2019hypoth\u00e8se o\u00f9 elle \u00e9tait pr\u00e9c\u00e9demment not\u00e9e</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">valeur d\u2019investissement, ou (iii) une baisse d\u2019une cat\u00e9gorie de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">notation (par exemple de Ba1 \u00e0 Ba2) si cette notation \u00e9tait</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:206.99pt\">pr\u00e9c\u00e9demment en dessous de valeur d\u2019investissement.</span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.32pt\">Les autres financements (notamment les pr\u00eats bilat\u00e9raux, les</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.27pt\">lignes de cr\u00e9dit et les placements priv\u00e9s Schuldscheindarlehen)</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.27pt\">comportent une clause de changement de contr\u00f4le qui permet</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.29pt\">aux pr\u00eateurs ou investisseurs de demander le remboursement</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">anticip\u00e9 si un changement de contr\u00f4le de Valeo intervient et,</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">pour certains de ces financements, que Valeo n\u2019obtienne pas</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">une notation de valeur d\u2019investissement (investment grade) \u00e0</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:191.72pt\">l\u2019expiration de la p\u00e9riode de changement de contr\u00f4le.</span></div><div class=\"ps4432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Les lignes de cr\u00e9dit et cr\u00e9dits bilat\u00e9raux mis en place avec</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">les banques du pool bancaire de Valeo, l'emprunt aupr\u00e8s de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">la Banque europ\u00e9enne d'investissement, et les dettes long</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">terme du Groupe comportent des clauses dites de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">crois\u00e9 (cross default) en vertu desquelles, si un certain</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">montant de dette financi\u00e8re est susceptible de devenir</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">exigible par anticipation, les autres dettes financi\u00e8res</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.03pt\">peuvent \u00e9galement \u00eatre exig\u00e9es par anticipation.</span><span class=\"f charStyle-165dec60 ps33885\" style=\"width:1.96pt\"> </span></div><div class=\"ps2339 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">\u00c0 la date d\u2019arr\u00eat\u00e9 des comptes consolid\u00e9s, le Groupe pr\u00e9voit</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-fa2682f9 ps3180\" style=\"width:219.71pt\"> respecter les engagements attach\u00e9s \u00e0 sa dette sur les</span><span class=\"f charStyle-fa2682f9 ps639\" style=\"width:1.69pt\"> </span></div><div class=\"ps2341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-fa2682f9 ps448\" style=\"width:55.05pt\">prochains mois.</span></div><div class=\"ps33886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Notation de cr\u00e9dit du Groupe<span id=\"i2f560f4041344d6f8498412cc290067d\"></span></span></div><div class=\"ps15022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:280.51pt\">Le Groupe fait l'objet de notations financi\u00e8res aupr\u00e8s de plusieurs agences.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33887\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33898 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:117.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2126\"><div><div class=\"ps509 ss2125\"><span class=\"f charStyle-ae6044e9 ps10\">Agence de notation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps14834 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps13753\">Date de publication<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1940 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps14457\">Dette long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28190 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps25696\">Perspective<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28193 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps17746\">Dette court terme<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2126\"><div><div class=\"ps746 ss2125\"><span class=\"f charStyle-a696f64a ps10\">Standard &amp; Poor's<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33889 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33888\">13 mars 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20832 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33890\">BB</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps28196 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33891\">Stable</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps28198 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps33892\">B<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2126\"><div><div class=\"ps746 ss2125\"><span class=\"f charStyle-a696f64a ps10\">Moody\u2019s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33894 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33893\">26 septembre 2024</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20841 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps27708\">Ba1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33895 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps30554\">N\u00e9gative<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33897 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33896\">Non-prime</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33900 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9v\u00e9nement <span class=\"f ps53\"> </span><span id=\"i8735a738e00c4fffa43ece4e9ca2faff\"></span></span><span class=\"f charStyle-aa33f529 ps33899\">post\u00e9rieur</span><span class=\"f charStyle-aa33f529 ps31840\"> \u00e0 la cl\u00f4ture</span></div><div class=\"ps33901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:24.74pt\">N\u00e9ant.</span></div><div class=\"ps33902 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.2.2. <span id=\"i06722425ec8641f6a90e7677de381282\"></span></span><span class=\"f charStyle-9417a400 ps13292\">Financements court terme et concours bancaires</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:135.64pt\">Ce poste inclut essentiellement les </span><span class=\"f charStyle-e8054d08 ps33904\" style=\"width:82.3pt\">Negotiable European</span><span class=\"f charStyle-e8054d08 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a702cc9d ps6588\" style=\"width:115.78pt\">Commercial Paper (NEU CP)</span><span class=\"f charStyle-81f42323 ps33906\" style=\"width:102.19pt\">, anciennement billets de</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:35.61pt\">tr\u00e9sorerie,</span><span class=\"f charStyle-165dec60 ps33908\" style=\"width:3.09pt\"> </span><span class=\"f charStyle-05bafb21 ps33909\" style=\"width:179.21pt\">\u00e9mis par Valeo pour se financer \u00e0 court terme. Ils</span><span class=\"f charStyle-05bafb21 ps444\" style=\"width:1.68pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:65.4pt\">ont une maturit\u00e9</span><span class=\"f charStyle-165dec60 ps17794\" style=\"width:152.5pt\"> comprise entre 1 et 12 mois et sont</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps33912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:87.3pt\">\u00e9valu\u00e9s au co\u00fbt amorti.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Afin de refl\u00e9ter les besoins en tr\u00e9sorerie du Groupe, les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">financements court terme sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">nets de tr\u00e9sorerie sur op\u00e9rations de financement dans le</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.3pt\">Tableau des flux de tr\u00e9sorerie consolid\u00e9s.</span></div><div class=\"ps33916 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-373e86b9 ps10\">Negotiable European Commercial paper</span><span class=\"f charStyle-044fe383 ps9233\"> (Billets de tr\u00e9sorerie)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.1pt\"></span></span><span class=\"ps27853\">294<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.13pt\"></span></span><span class=\"ps33913\">525<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">300<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.7pt\"></span></span><span class=\"ps574\">315<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">FINANCEMENTS COURT TERME ET CONCOURS BANCAIRES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.2pt\"></span></span><span class=\"ps33914\">645<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.35pt\"></span></span><span class=\"ps33915\">844<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.25pt\">Valeo dispose d'un programme de financement \u00e0 court terme sous forme de billets de tr\u00e9sorerie plafonn\u00e9 \u00e0 2,5 milliards</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.19pt\">d\u2019euros.</span><span class=\"f charStyle-165dec60 ps33917\" style=\"width:3.7pt\"> </span><span class=\"f charStyle-9c680f66 ps33918\" style=\"width:14.02pt\">Au\u00a0</span><span class=\"f charStyle-165dec60 ps19269\" style=\"width:70.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-9c680f66 ps33919\" style=\"width:162.2pt\">, ce programme est utilis\u00e9 \u00e0 hauteur de </span><span class=\"f charStyle-9c680f66 ps33920\" style=\"width:46.52pt\">294 millions</span><span class=\"f charStyle-9c680f66 ps33921\" style=\"width:65.13pt\"> d'euros (contre </span><span class=\"f charStyle-9c680f66 ps33922\" style=\"width:45.49pt\">525 millions</span><span class=\"f charStyle-9c680f66 ps33923\" style=\"width:44.05pt\"> d'euros au</span><span class=\"f charStyle-9c680f66 ps8438\" style=\"width:1.93pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-9c680f66 ps27793\" style=\"width:3.99pt\">).</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.3<span id=\"i4db9c628cd3a424da817f8f7161b1c6e\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30863\"><span style=\"display:inline-block;height:8.71pt;width:14.75pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Endettement financier net<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.6pt\">L\u2019endettement financier net comprend l\u2019ensemble des dettes financi\u00e8res \u00e0 long terme, les financements \u00e0 court terme et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:102.59pt\">les concours bancaires (cf. </span><span class=\"f charStyle-165dec60 ps33926\" style=\"width:41.53pt\">Note 9.1.2.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33927\" style=\"width:314.46pt\">, page 431), sous d\u00e9duction du montant des pr\u00eats et autres actifs financiers \u00e0 long</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">terme, de la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie, ainsi que la juste valeur des instruments d\u00e9riv\u00e9s sur risque de change<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:209.36pt\">et sur risque de\u00a0taux associ\u00e9s \u00e0 l\u2019un de ces \u00e9l\u00e9ments (cf. </span><span class=\"f charStyle-165dec60 ps33928\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps33929\" style=\"width:68.06pt\">, pages 433 \u00e0 438).</span></div><div class=\"ps33986 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:152.25pt\"></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:15pt\"><td rowspan=\"2\" style=\"padding:0\"><div class=\"ps1 ss2128\"><div><div class=\"ps10309 ss2127\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33930 ss2130\"><div><div class=\"ps509 ss2129\"><span class=\"f charStyle-6bef0edd ps18554\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss2130\"><div><div class=\"ps509 ss2129\"><span class=\"f charStyle-ae6044e9 ps33931\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33933 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps33932\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps29892 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps33934\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps31524 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31526 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps33932\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31527 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps33934\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27204 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33936 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.99pt\"></span></span><span class=\"ps33935\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29899 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.93pt\"></span></span><span class=\"ps559\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31529 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.59pt\"></span></span><span class=\"ps33937\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31530 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.12pt\"></span></span><span class=\"ps33796\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31532 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.56pt\"></span></span><span class=\"ps13229\">1\u00a0334<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27212 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33938 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29906 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.86pt\"></span></span><span class=\"ps33939\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31534 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.86pt\"></span></span><span class=\"ps33939\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31536 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31538 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.92pt\"></span></span><span class=\"ps33940\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27222 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.92pt\"></span></span><span class=\"ps33940\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33941 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29914 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.67pt\"></span></span><span class=\"ps1469\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31541 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.67pt\"></span></span><span class=\"ps1469\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31543 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31544 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27234 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10370 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER BRUT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33942 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.62pt\"></span></span><span class=\"ps26053\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps29921 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.02pt\"></span></span><span class=\"ps20856\">1\u00a0129<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33943 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6\u00a0561<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33944 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.76pt\"></span></span><span class=\"ps9318\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33946 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.16pt\"></span></span><span class=\"ps33945\">2\u00a0178<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27246 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.3pt\"></span></span><span class=\"ps4356\">7\u00a0037<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss2132\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-044fe383 ps10\">Pr\u00eats et cr\u00e9ances \u00e0 long terme </span></div><div class=\"ps748 ss2127\"><span class=\"f charStyle-044fe383 ps10\">(y\u00a0compris\u00a0int\u00e9r\u00eats courus)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33947 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.49pt\"></span></span><span class=\"ps10034\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps29928 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33948 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.49pt\"></span></span><span class=\"ps10034\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33949 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.66pt\"></span></span><span class=\"ps31634\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33950 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33951 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.66pt\"></span></span><span class=\"ps31634\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33952 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33953 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.34pt\"></span></span><span class=\"ps29994\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33954 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.34pt\"></span></span><span class=\"ps29994\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33955 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33957 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.68pt\"></span></span><span class=\"ps33956\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33958 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.68pt\"></span></span><span class=\"ps33956\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33959 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33961 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.51pt\"></span></span><span class=\"ps33960\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33962 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.51pt\"></span></span><span class=\"ps33960\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33963 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33965 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.81pt\"></span></span><span class=\"ps33964\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33966 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.81pt\"></span></span><span class=\"ps33964\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss2132\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s associ\u00e9s sur risque </span></div><div class=\"ps748 ss2127\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0change et sur risque de taux\u00a0</span><span class=\"f charStyle-4da12822 ps33967\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33969 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.93pt\"></span></span><span class=\"ps33968\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33970 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.9pt\"></span></span><span class=\"ps545\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33971 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.91pt\"></span></span><span class=\"ps33037\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33972 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.93pt\"></span></span><span class=\"ps33968\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33973 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.75pt\"></span></span><span class=\"ps26847\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33974 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">(14)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16458 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER NET<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33976 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.01pt\"></span></span><span class=\"ps33975\">5\u00a0402<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33978 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.98pt\"></span></span><span class=\"ps33977\">(1\u00a0380)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33980 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.07pt\"></span></span><span class=\"ps33979\">4\u00a0022<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33982 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.62pt\"></span></span><span class=\"ps33981\">4\u00a0831<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33984 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.47pt\"></span></span><span class=\"ps33983\">(1\u00a0018)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33985 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.35pt\"></span></span><span class=\"ps33099\">3\u00a0813<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.1pt\">La juste valeur des instruments d\u00e9riv\u00e9s associ\u00e9s \u00e0 un \u00e9l\u00e9ment de l\u2019endettement financier net correspond \u00e0 celle des instruments de change</span><span class=\"f charStyle-776a1ec6 ps471\" style=\"width:1.7pt\"> </span></div><div class=\"ps33992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:342.34pt\">et\u00a0de\u00a0taux couvrant des actifs ou passifs relatifs aux activit\u00e9s de financement du Groupe \u00e0 fin d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps33988\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps33989\" style=\"width:55.38pt\"> et fin d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps33990\" style=\"width:15.97pt\">2024</span><span class=\"f charStyle-776a1ec6 ps33991\" style=\"width:1.37pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps33994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.1<span id=\"ic8cbb28adfed467db24c234905a27f8b\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps33993\"><span style=\"display:inline-block;height:8.22pt;width:10.26pt\"></span></span><span class=\"ps29285\">Pr\u00eats et cr\u00e9ances \u00e0 long terme</span></span></div><div class=\"ps33996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Cette cat\u00e9gorie regroupe essentiellement les pr\u00eats \u00e0 long terme. Ils sont \u00e9valu\u00e9s selon la m\u00e9thode du co\u00fbt amorti</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps33997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">en\u00a0utilisant le taux d\u2019int\u00e9r\u00eat effectif. Ils figurent dans l\u2019\u00e9tat de la situation financi\u00e8re, sur la ligne \u00ab\u00a0Autres actifs financiers</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33998 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.07pt\">non courants\u00a0\u00bb.</span></div><div class=\"ps26527 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.2<span id=\"ibd55691eb89a4abf9eeec2c1aae99ee4\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34000\"><span style=\"display:inline-block;height:8.22pt;width:8.58pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie</span></div><div class=\"ps6626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">Ce poste est constitu\u00e9 de valeurs mobili\u00e8res de placement (de type OPCVM mon\u00e9taire et mon\u00e9taire court terme), de d\u00e9p\u00f4ts et</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:245.98pt\">placements sans risque \u00e0 tr\u00e8s court terme facilement mobilisables</span><span class=\"f charStyle-165dec60 ps34001\" style=\"width:235.3pt\"> ou cessibles ainsi que de liquidit\u00e9s sur des comptes courants</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38pt\">bancaires.</span></div><div class=\"ps5587 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:253.2pt\">Les \u00e9l\u00e9ments inclus dans ce poste sont qualifi\u00e9s d\u2019\u00e9quivalents de </span><span class=\"f charStyle-79bb7869 ps34004\" style=\"width:227.99pt\">tr\u00e9sorerie, car ils sont facilement convertibles en un montant</span><span class=\"f charStyle-79bb7869 ps1121\" style=\"width:1.79pt\"> </span></div><div class=\"ps34007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:23.25pt\">connu</span><span class=\"f charStyle-c709af45 ps34005\" style=\"width:3.66pt\"> </span><span class=\"f charStyle-165dec60 ps13790\" style=\"width:252.9pt\">de tr\u00e9sorerie, tout en \u00e9tant soumis \u00e0 un risque n\u00e9gligeable de </span><span class=\"f charStyle-79bb7869 ps34006\" style=\"width:201.52pt\">changement de valeur. Ces actifs financiers courants,</span><span class=\"f charStyle-79bb7869 ps639\" style=\"width:1.79pt\"> </span></div><div class=\"ps12079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:50.16pt\">comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34008\" style=\"width:420.15pt\"> \u00e0 la juste valeur par le r\u00e9sultat, sont d\u00e9tenus dans l\u2019optique de faire face aux besoins de tr\u00e9sorerie \u00e0 court terme.</span></div><div class=\"ps34013 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps4571 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Valeurs mobili\u00e8res de placement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.59pt\"></span></span><span class=\"ps34009\">1\u00a0247<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.94pt\"></span></span><span class=\"ps34010\">1\u00a0585<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Liquidit\u00e9s et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.78pt\"></span></span><span class=\"ps34011\">1\u00a0234<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.62pt\"></span></span><span class=\"ps28136\">1\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TR\u00c9SORERIE ET \u00c9QUIVALENTS DE TR\u00c9SORERIE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.9pt\"></span></span><span class=\"ps30832\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.06pt\"></span></span><span class=\"ps34012\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:208.9pt\">La tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34014\" style=\"width:20.43pt\">2 481</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.42pt\">millions</span><span class=\"f charStyle-165dec60 ps9928\" style=\"width:48.16pt\"> d\u2019euros au </span><span class=\"f charStyle-165dec60 ps34016\" style=\"width:70.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34017\" style=\"width:60.8pt\">, compos\u00e9s de </span><span class=\"f charStyle-165dec60 ps34018\" style=\"width:20.01pt\">1 247<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.42pt\">millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps9928\" style=\"width:199.86pt\"> d'euros de\u00a0valeurs mobili\u00e8res de placement ayant</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.74pt\">un risque de\u00a0variation de valeur tr\u00e8s faible et </span><span class=\"f charStyle-165dec60 ps34021\" style=\"width:51.52pt\">1 234 millions</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps17140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">d'euros de disponibilit\u00e9s. Les\u00a0valeurs mobili\u00e8res de</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">placement sont uniquement constitu\u00e9es de FCP<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:44.5pt\">mon\u00e9taires.</span></div><div class=\"ps12341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.27pt\">Ces \u00e9quivalents de tr\u00e9sorerie sont comptabilis\u00e9s \u00e0 la juste<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps415\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12342 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:24.6pt\">valeur </span><span class=\"f charStyle-165dec60 ps19279\" style=\"width:60.86pt\">de niveau 1 ou 2.</span></div><div class=\"ps34022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion de la liquidit\u00e9 \u00e0 court terme<span id=\"ib69b72d363d84d2e876a89f15261fb0f\"></span></span></div><div class=\"ps34023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">La tr\u00e9sorerie du Groupe est centralis\u00e9e lorsque la l\u00e9gislation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">locale le permet. Dans ce cas, les exc\u00e9dents de tr\u00e9sorerie ou</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps34025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">les besoins de financement des filiales sont centralis\u00e9s et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38.46pt\">plac\u00e9s ou </span><span class=\"f charStyle-1abed7d4 ps34026\" style=\"width:172.89pt\">financ\u00e9s aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re, Valeo. Un </span><span class=\"f charStyle-a3c65629 ps34027\" style=\"width:17.91pt\">cash</span><span class=\"f charStyle-a3c65629 ps410\" style=\"width:1.93pt\"> </span></div><div class=\"ps34031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a3c65629 ps275\" style=\"width:50.35pt\">pooling cross</span><span class=\"f charStyle-e8054d08 ps34029\" style=\"width:28.19pt\"> border<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34030\" style=\"width:150.78pt\"> multi-devises est en place, en euro, en</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:23.94pt\">dollar </span><span class=\"f charStyle-53279637 ps30383\" style=\"width:40.73pt\">am\u00e9ricain, </span><span class=\"f charStyle-165dec60 ps16178\" style=\"width:164.63pt\">en forint hongrois et\u00a0en couronne tch\u00e8que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:157.54pt\">pour les filiales europ\u00e9ennes, en dollar <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps34033\" style=\"width:71.73pt\">am\u00e9ricain pour les</span><span class=\"f charStyle-53279637 ps415\" style=\"width:1.85pt\"> </span></div><div class=\"ps34015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:191.43pt\">filiales am\u00e9ricaines et en renminbi chinois pour <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34035\" style=\"width:37.87pt\">les filiales</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.12pt\">chinoises. Ce </span><span class=\"f charStyle-e8054d08 ps34036\" style=\"width:111.88pt\">cash pooling cross border</span><span class=\"f charStyle-165dec60 ps34037\" style=\"width:57.28pt\"> multi-devises</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">permet une gestion centralis\u00e9e quotidienne de la tr\u00e9sorerie.</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps17139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:98.56pt\">Dans les autres pays, des </span><span class=\"f charStyle-e8054d08 ps34038\" style=\"width:49.38pt\">cash pooling</span><span class=\"f charStyle-165dec60 ps34039\" style=\"width:81.32pt\"> locaux sont en place</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps17140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">ou des pr\u00eats et emprunts r\u00e9guliers sont enregistr\u00e9s avec la</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps17141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:210.05pt\">soci\u00e9t\u00e9 m\u00e8re, Valeo. Dans certains pays, ces op\u00e9rations </span><span class=\"f charStyle-e8054d08 ps34040\" style=\"width:19.24pt\">cross</span><span class=\"f charStyle-e8054d08 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps17142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:25.39pt\">border</span><span class=\"f charStyle-165dec60 ps34041\" style=\"width:203.91pt\"> peuvent g\u00e9n\u00e9rer des frottements fiscaux ou \u00eatre</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34043 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.21pt\">soumises \u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps34042\" style=\"width:182.08pt\">des r\u00e9glementations particuli\u00e8res et n\u00e9cessiter<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps467\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps22241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:63.49pt\">des autorisations</span><span class=\"f charStyle-165dec60 ps34044\" style=\"width:61.51pt\"> administratives.</span></div><div class=\"ps12344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe g\u00e8re \u00e9galement sa liquidit\u00e9 en veillant \u00e0 la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:133.96pt\">remont\u00e9e de dividendes des filiales.</span></div><div class=\"ps34045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de contrepartie bancaire<span id=\"i494f663036ba4c0483dc2a920d5233ca\"></span></span></div><div class=\"ps18628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">Les liquidit\u00e9s exc\u00e9dentaires du Groupe sont plac\u00e9es aupr\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps18629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.55pt\">de </span><span class=\"f charStyle-81f42323 ps34046\" style=\"width:215.72pt\">soci\u00e9t\u00e9s de gestion, filiales d\u2019\u00e9tablissements financiers de</span><span class=\"f charStyle-81f42323 ps455\" style=\"width:1.78pt\"> </span></div><div class=\"ps34047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.84pt\">premier</span><span class=\"f charStyle-165dec60 ps6126\" style=\"width:200.47pt\"> rang. Les titres sont \u00e9galement conserv\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34048 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:178.16pt\">livres de banques d\u00e9positaires de premier rang.</span></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.3<span id=\"ia30d3bdc090c4200825d7118087beaa3\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Endettement financier net par devise</span></span></div><div class=\"ps33160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.24pt\">L\u2019endettement financier net par devise de remboursement est le suivant\u00a0:</span></div><div class=\"ps34055 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.07pt\"></span></span><span class=\"ps34049\">4\u00a0181<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.64pt\"></span></span><span class=\"ps34050\">4\u00a0104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.82pt\"></span></span><span class=\"ps30678\">98<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.2pt\"></span></span><span class=\"ps4024\">116<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Real br\u00e9silien<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.24pt\"></span></span><span class=\"ps1280\">(53)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.9pt\"></span></span><span class=\"ps25384\">(56)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Won sud-cor\u00e9en<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">(201)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.11pt\"></span></span><span class=\"ps34051\">(298)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Renminbi<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.95pt\"></span></span><span class=\"ps11807\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70pt\"></span></span><span class=\"ps34052\">(1)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.23pt\"></span></span><span class=\"ps28330\">(23)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(52)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.79pt\"></span></span><span class=\"ps34053\">4\u00a0022<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.28pt\"></span></span><span class=\"ps34054\">3\u00a0813<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:445.05pt\">Dans le tableau ci-dessus, l\u2019endettement financier net inclut la juste valeur des instruments d\u00e9riv\u00e9s (notamment les </span><span class=\"f charStyle-e8054d08 ps34056\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34057\" style=\"width:12.17pt\"> de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34059 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">couverture) rattach\u00e9s aux dettes financi\u00e8res. Cette juste valeur est pr\u00e9sent\u00e9e dans la devise fonctionnelle de l\u2019entit\u00e9 ayant</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps34060 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:100.23pt\">contract\u00e9 ces instruments.</span></div><div class=\"ps34061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.4<span id=\"i9c9d10263c0442a8a1763b74476a7b26\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps8144\"><span style=\"display:inline-block;height:8.71pt;width:13.87pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span><span class=\"f charStyle-165dec60 ps34106\" style=\"width:1.96pt\"> </span></div><div class=\"ps14872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:481.2pt\">La responsabilit\u00e9 du recensement et de l\u2019\u00e9valuation des risques financiers rel\u00e8ve des entit\u00e9s op\u00e9rationnelles. En\u00a0revanche, la</span><span class=\"f charStyle-81993cb5 ps1231\" style=\"width:1.87pt\"> </span></div><div class=\"ps34110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:40.26pt\">couverture</span><span class=\"f charStyle-165dec60 ps34108\" style=\"width:12.03pt\"> et </span><span class=\"f charStyle-1abed7d4 ps34109\" style=\"width:428.94pt\">la gestion de ces risques par des produits d\u00e9riv\u00e9s est assur\u00e9e par la direction financi\u00e8re du Groupe pour le compte</span><span class=\"f charStyle-1abed7d4 ps1296\" style=\"width:1.93pt\"> </span></div><div class=\"ps26631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps275\" style=\"width:76pt\">des filiales expos\u00e9es.</span></div><div class=\"ps26632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">Lors des Comit\u00e9s mensuels de Tr\u00e9sorerie, les principaux risques et expositions sont examin\u00e9s, la mise en \u0153uvre des couvertures</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps26633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:390.59pt\">est act\u00e9e (conform\u00e9ment \u00e0 la strat\u00e9gie d\u00e9crite ci\u2011apr\u00e8s) et les r\u00e9sultats de ces couvertures sont analys\u00e9s.</span></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">Pour r\u00e9duire son exposition aux risques de march\u00e9, le Groupe utilise des instruments financiers d\u00e9riv\u00e9s dont les justes valeurs</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.42pt\">aux </span><span class=\"f charStyle-165dec60 ps17827\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34111\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps34112\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps34113\" style=\"width:71.59pt\"> sont les suivantes\u00a0:</span></div><div class=\"ps6896 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:63.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:33pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:33pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2133\"><div><div class=\"ps34114 ss188\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34117 ss2134\"><div><div class=\"ps34116 ss80\"><span class=\"f charStyle-55cd9955 ps34115\">Qualification <span class=\"f ps53\"> </span></span></div><div class=\"ps34114 ss80\"><span class=\"f charStyle-55cd9955 ps23262\">comptable</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34120 ss2135\"><div><div class=\"ps34116 ss1082\"><span class=\"f charStyle-d47d3658 ps34118\">Nominal </span></div><div class=\"ps34114 ss1082\"><span class=\"f charStyle-d47d3658 ps141\">achat\u00a0</span><span class=\"f charStyle-c006c061 ps34119\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34124 ss2135\"><div><div class=\"ps34116 ss1082\"><span class=\"f charStyle-b2b6bcc2 ps34121\">Nominal</span></div><div class=\"ps34114 ss1082\"><span class=\"f charStyle-b2b6bcc2 ps34122\">vente\u00a0</span><span class=\"f charStyle-99673b26 ps34123\"><span class=\"f ps53\"> </span><sup>(1)</sup></span><span class=\"f charStyle-b2b6bcc2 ps31170\"> <span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3739 ss2136\"><div><div class=\"ps34116 ss1016\"><span class=\"f charStyle-55cd9955 ps34125\">R\u00e9serves<span class=\"f ps53\"> </span></span></div><div class=\"ps34114 ss1016\"><span class=\"f charStyle-55cd9955 ps34126\">OCI<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34128 ss1229\"><div><div class=\"ps4496 ss696\"><span class=\"f charStyle-2d71864b ps34127\">Autres actifs <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss696\"><span class=\"f charStyle-2d71864b ps3480\">financiers</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34130 ss894\"><div><div class=\"ps4496 ss870\"><span class=\"f charStyle-2d71864b ps10626\">Autres passifs <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss870\"><span class=\"f charStyle-2d71864b ps34129\">financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30900 ss1602\"><div><div class=\"ps4496 ss379\"><span class=\"f charStyle-d606841d ps34131\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss379\"><span class=\"f charStyle-d606841d ps34132\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss1602\"><div><div class=\"ps4496 ss379\"><span class=\"f charStyle-2d71864b ps34131\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss379\"><span class=\"f charStyle-2d71864b ps16363\">2024</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34135 ss1269\"><div><div class=\"ps4496 ss1112\"><span class=\"f charStyle-e42585e9 ps34133\">Non <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss1112\"><span class=\"f charStyle-e42585e9 ps34134\">courant</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34137 ss279\"><div><div class=\"ps4498 ss61\"><span class=\"f charStyle-e42585e9 ps34136\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34138 ss2044\"><div><div class=\"ps4496 ss1084\"><span class=\"f charStyle-e42585e9 ps29092\">Non <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss1084\"><span class=\"f charStyle-e42585e9 ps16788\">courant</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34139 ss279\"><div><div class=\"ps4498 ss61\"><span class=\"f charStyle-e42585e9 ps34136\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34140 ss1602\"><div><div class=\"ps4498 ss379\"><span class=\"f charStyle-29e40c79 ps1427\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34141 ss1602\"><div><div class=\"ps4498 ss379\"><span class=\"f charStyle-e42585e9 ps1427\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps23243 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Contrats \u00e0 terme </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34142 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34143 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.81pt\"></span></span><span class=\"ps15878\">647<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34144 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.39pt\"></span></span><span class=\"ps10557\">(226)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34145 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.54pt\"></span></span><span class=\"ps31360\">46<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34146 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.59pt\"></span></span><span class=\"ps23545\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34148 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.49pt\"></span></span><span class=\"ps34147\">48<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34150 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34152 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.54pt\"></span></span><span class=\"ps34151\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34153 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.96pt\"></span></span><span class=\"ps26117\">46<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34154 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.27pt\"></span></span><span class=\"ps7588\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps522 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Contrats \u00e0 terme </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34155 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34156 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.83pt\"></span></span><span class=\"ps32261\">572<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34158 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.29pt\"></span></span><span class=\"ps34157\">(513)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34160 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34162 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34163 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.8pt\"></span></span><span class=\"ps535\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34164 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34166 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.2pt\"></span></span><span class=\"ps34165\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34168 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34170 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.59pt\"></span></span><span class=\"ps34169\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">CHANGE </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">OP\u00c9RATIONNEL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34173 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.9pt\"></span></span><span class=\"ps34172\">1\u00a0219<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34174 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.38pt\"></span></span><span class=\"ps22847\">(739)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34175 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.12pt\"></span></span><span class=\"ps9861\">46<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34176 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.35pt\"></span></span><span class=\"ps737\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34178 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.32pt\"></span></span><span class=\"ps34177\">53<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34179 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34181 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.78pt\"></span></span><span class=\"ps34180\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30941 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.85pt\"></span></span><span class=\"ps31258\">45<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30943 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.59pt\"></span></span><span class=\"ps34182\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34183 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34184 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.96pt\"></span></span><span class=\"ps3491\">1\u00a0046<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34186 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.68pt\"></span></span><span class=\"ps34185\">(1\u00a0046)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34187 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34188 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34190 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.96pt\"></span></span><span class=\"ps34189\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34192 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.81pt\"></span></span><span class=\"ps34191\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34193 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.02pt\"></span></span><span class=\"ps20783\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34194 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.04pt\"></span></span><span class=\"ps31539\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34195 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.81pt\"></span></span><span class=\"ps32160\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Contrats \u00e0 terme <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-12ac666e ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34196 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34198 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.81pt\"></span></span><span class=\"ps34197\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34200 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.46pt\"></span></span><span class=\"ps34199\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34201 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34202 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34204 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34205 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34206 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34208 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34209 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26428 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Cross currency </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34210 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34211 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.05pt\"></span></span><span class=\"ps3785\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34212 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.77pt\"></span></span><span class=\"ps3902\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34213 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34214 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34215 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34216 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34217 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34218 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34219 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11173 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">CHANGE </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34221 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.64pt\"></span></span><span class=\"ps34220\">1\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34223 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.52pt\"></span></span><span class=\"ps34222\">(1\u00a0094)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11178 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34224 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34225 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.51pt\"></span></span><span class=\"ps23465\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34226 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.36pt\"></span></span><span class=\"ps27245\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34227 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.35pt\"></span></span><span class=\"ps22516\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34229 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.87pt\"></span></span><span class=\"ps34228\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34230 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.44pt\"></span></span><span class=\"ps26213\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8749 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34231 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34233 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.22pt\"></span></span><span class=\"ps34232\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34234 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34235 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.11pt\"></span></span><span class=\"ps15673\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34236 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34237 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.11pt\"></span></span><span class=\"ps16600\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34238 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34239 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.51pt\"></span></span><span class=\"ps31004\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34240 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.53pt\"></span></span><span class=\"ps29931\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34242 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.79pt\"></span></span><span class=\"ps34241\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22685 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">MATI\u00c8RES </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">PREMI\u00c8RES</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34244 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.6pt\"></span></span><span class=\"ps34243\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34245 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.18pt\"></span></span><span class=\"ps3522\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34247 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.65pt\"></span></span><span class=\"ps34246\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34248 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34250 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.63pt\"></span></span><span class=\"ps34249\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34251 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34253 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.13pt\"></span></span><span class=\"ps34252\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34255 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.07pt\"></span></span><span class=\"ps34254\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34256 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.36pt\"></span></span><span class=\"ps1890\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23431 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34257 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34258 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34259 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34260 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34261 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34262 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34263 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34264 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34265 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34266 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.59pt\"></span></span><span class=\"ps34169\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34267 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34268 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps4529\">Fair value hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34269 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.25pt\"></span></span><span class=\"ps29036\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34271 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34272 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34274 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.07pt\"></span></span><span class=\"ps34273\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34275 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34276 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34277 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34278 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.07pt\"></span></span><span class=\"ps24124\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34279 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.05pt\"></span></span><span class=\"ps25685\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3586 ss2137\"><div><div class=\"ps1114 ss188\"><span class=\"f charStyle-12ac666e ps10\">Cross currency <span class=\"f ps53\"> </span></span></div><div class=\"ps1306 ss188\"><span class=\"f charStyle-12ac666e ps10\">swap<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34280 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34281 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.05pt\"></span></span><span class=\"ps3785\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34282 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.77pt\"></span></span><span class=\"ps3902\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34283 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34284 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34285 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34286 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34287 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.06pt\"></span></span><span class=\"ps31075\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34288 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34289 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34290 ss2144\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE TAUX</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34291 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.12pt\"></span></span><span class=\"ps23683\">622<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34292 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.63pt\"></span></span><span class=\"ps29148\">(622)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34293 ss1177\"><div><div class=\"ps523 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34295 ss1293\"><div><div class=\"ps523 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.85pt\"></span></span><span class=\"ps34294\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34296 ss2145\"><div><div class=\"ps523 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34297 ss2146\"><div><div class=\"ps523 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34299 ss2145\"><div><div class=\"ps523 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.61pt\"></span></span><span class=\"ps34298\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34300 ss397\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.87pt\"></span></span><span class=\"ps34228\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34301 ss397\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps26154 ss2148\"><div><div class=\"ps746 ss2147\"><span class=\"f charStyle-f573b8b5 ps10\">TOTAL INSTRUMENTS FINANCIERS D\u00c9RIV\u00c9S<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34303 ss1677\"><div><div class=\"ps746 ss1112\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.04pt\"></span></span><span class=\"ps34302\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34304 ss2143\"><div><div class=\"ps746 ss61\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.35pt\"></span></span><span class=\"ps22516\">86<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34306 ss1118\"><div><div class=\"ps746 ss1084\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.18pt\"></span></span><span class=\"ps34305\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34307 ss2143\"><div><div class=\"ps746 ss61\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.6pt\"></span></span><span class=\"ps33767\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34308 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">64<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34309 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.21pt\"></span></span><span class=\"ps18602\">37<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:241.76pt\">Les nominaux des instruments d\u00e9riv\u00e9s sont exprim\u00e9s en \u00e9quivalent euros.</span></div><div class=\"ps34311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de contrepartie bancaire<span id=\"i4e57b1fc075f4333857ffbf77214d0a5\"></span></span></div><div class=\"ps3054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.32pt\">Le Groupe traite ses instruments d\u00e9riv\u00e9s avec des</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps3008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:54.67pt\">\u00e9tablissements</span><span class=\"f charStyle-165dec60 ps34312\" style=\"width:174.6pt\"> bancaires de premier rang et r\u00e9alise un suivi</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps3009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.37pt\">r\u00e9gulier du risque de contrepartie.</span><span class=\"f charStyle-165dec60 ps34313\" style=\"width:1.96pt\"> </span></div><div class=\"ps34314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.1<span id=\"ie16a3f3bf3e8401cb4ae518ccdeafc12\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps19284\"><span style=\"display:inline-block;height:8.22pt;width:9.44pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de change</span></span></div><div class=\"ps34315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de change op\u00e9rationnel<span id=\"i2bbd139a823b4a69bb4a56a91ca93d4e\"></span></span></div><div class=\"ps34316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Les filiales du Groupe sont expos\u00e9es au risque de change</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dans le cadre de leurs activit\u00e9s industrielles et commerciales.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Ces risques et les couvertures aff\u00e9rentes sont suivis par la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:211.94pt\">Direction du Financement et de la Tr\u00e9sorerie du Groupe.</span><span class=\"f charStyle-165dec60 ps34319\" style=\"width:1.96pt\"> </span></div><div class=\"ps34321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">L\u2019exposition bilantielle (cr\u00e9ances et dettes non financi\u00e8res</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">inscrites au bilan en devises \u00e9trang\u00e8res) est couverte de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">fa\u00e7on syst\u00e9matique. Les couvertures des filiales sont</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">r\u00e9alis\u00e9es principalement aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re Valeo, qui</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">\u00e0 son tour couvre les positions nettes du Groupe aupr\u00e8s de</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:56.49pt\"><span style=\"background-color:inherit\">contreparties </span></span><span class=\"f charStyle-b26c2267 ps27780\" style=\"width:172.83pt\"><span style=\"background-color:inherit\">externes. Les produits d\u00e9riv\u00e9s de change</span></span><span class=\"f charStyle-b26c2267 ps431\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:88.96pt\"><span style=\"background-color:inherit\">correspondants n'\u00e9tant</span></span><span class=\"f charStyle-68ecf294 ps34327\" style=\"width:140.35pt\"><span style=\"background-color:inherit\"> pas d\u00e9sign\u00e9s dans une relation de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">couverture comptable sont qualifi\u00e9s d\u2019instruments de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19438 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps275\" style=\"width:30.37pt\"><span style=\"background-color:inherit\">trading </span></span><span class=\"f charStyle-68ecf294 ps34330\" style=\"width:110.3pt\"><span style=\"background-color:inherit\">d'un point de vue comptable.</span></span><span class=\"f charStyle-68ecf294 ps12083\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le Groupe couvre \u00e9galement sa marge op\u00e9rationnelle</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">contre le risque de change, sur un horizon budg\u00e9taire de</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">fa\u00e7on r\u00e9guli\u00e8re et sur un horizon contractuel de fa\u00e7on</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:111.94pt\"><span style=\"background-color:inherit\">exceptionnelle pour des c</span></span><span class=\"f charStyle-5bbe5a0c ps27771\" style=\"width:117.34pt\"><span style=\"background-color:inherit\">ontrats pr\u00e9cis significatifs. Les</span></span><span class=\"f charStyle-5bbe5a0c ps610\" style=\"width:1.66pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5bbe5a0c ps275\" style=\"width:143.23pt\"><span style=\"background-color:inherit\">principaux instruments de couverture </span></span><span class=\"f charStyle-68ecf294 ps34335\" style=\"width:86.05pt\"><span style=\"background-color:inherit\">auxquels le Groupe a</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:170.69pt\"><span style=\"background-color:inherit\">habituellement recours sont les achats et </span></span><span class=\"f charStyle-6b8e39ee ps34337\" style=\"width:58.64pt\"><span style=\"background-color:inherit\">ventes \u00e0 terme</span></span><span class=\"f charStyle-6b8e39ee ps412\" style=\"width:1.81pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6b8e39ee ps275\" style=\"width:216.7pt\"><span style=\"background-color:inherit\">fermes en devises. Dans ce cas, le Groupe applique</span></span><span class=\"f charStyle-68ecf294 ps34339\" style=\"width:12.6pt\"><span style=\"background-color:inherit\"> la</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:205.3pt\"><span style=\"background-color:inherit\">comptabilit\u00e9 de couverture de flux futurs de tr\u00e9sorerie.</span></span></div><div class=\"ps13143 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">Elle est d\u00e9termin\u00e9e par la technique de valorisation</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps13144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">suivante\u00a0: les flux de tr\u00e9sorerie futurs sont calcul\u00e9s en</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">utilisant les cours de change \u00e0 terme \u00e0 la date de cl\u00f4ture, et</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">sont actualis\u00e9s au taux d\u2019int\u00e9r\u00eat de la devise de valorisation.</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:177.36pt\"><span style=\"background-color:inherit\">Cette technique de valorisation est de niveau 2.</span></span></div><div class=\"ps5148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">Au </span></span><span class=\"f charStyle-165dec60 ps34342\" style=\"width:67.74pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps31597\" style=\"width:149.08pt\"><span style=\"background-color:inherit\">, la part inefficace li\u00e9e \u00e0 ces couvertures</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps5149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:173.68pt\"><span style=\"background-color:inherit\">est n\u00e9gligeable, comme au 31 d\u00e9cembre 2024.</span></span><span class=\"f charStyle-68ecf294 ps34343\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34344 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de change financier<span class=\"f ps53\"> </span><span id=\"ifa9c8a40627c475c9caa305c6b1a9456\"></span></span></div><div class=\"ps34345 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">La centralisation des exc\u00e9dents de tr\u00e9sorerie, les besoins de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">financement des filiales \u00e9trang\u00e8res et certaines op\u00e9rations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.54pt\">de </span><span class=\"f charStyle-81f42323 ps34347\" style=\"width:215.72pt\">financement exposent le Groupe \u00e0 un risque de change</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps34350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:31.25pt\">financier</span><span class=\"f charStyle-165dec60 ps34349\" style=\"width:198.07pt\"> (risque li\u00e9 \u00e0 la variation de valeur de dettes ou de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.15pt\">cr\u00e9ances </span><span class=\"f charStyle-81f42323 ps34351\" style=\"width:192.16pt\">financi\u00e8res libell\u00e9es en devises autres que la devise</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps34354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:47.16pt\">fonctionnelle</span><span class=\"f charStyle-165dec60 ps34353\" style=\"width:182.11pt\"> de l\u2019entit\u00e9 emprunteuse ou pr\u00eateuse). Ce risque</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps7248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.41pt\">de change est couvert essentiellement via des </span><span class=\"f charStyle-e8054d08 ps34355\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34356\" style=\"width:13.84pt\"> de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps7249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.12pt\">devises.</span></div><div class=\"ps34357 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe finance usuellement ses filiales dans leurs propres</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34358 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:229.31pt\">devises et se couvre syst\u00e9matiquement contre le risque de</span><span class=\"f charStyle-b2f078f6 ps460\" style=\"width:1.83pt\"> </span></div><div class=\"ps34360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:27.66pt\">change</span><span class=\"f charStyle-165dec60 ps34359\" style=\"width:55.01pt\"> qui en r\u00e9sulte.</span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Par ailleurs, les financements externes du Groupe sont, en</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">r\u00e8gle g\u00e9n\u00e9rale, libell\u00e9s en euros, notamment pour les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:211.55pt\">\u00e9missions obligataires sous programme EMTN (</span><span class=\"f charStyle-e8054d08 ps34361\" style=\"width:17.75pt\">Euro</span><span class=\"f charStyle-e8054d08 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:73.83pt\">Medium Term Note</span><span class=\"f charStyle-165dec60 ps34362\" style=\"width:4.05pt\">).</span></div><div class=\"ps34363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le gain latent de 2 millions d\u2019euros porte principalement sur</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:13.69pt\"><span style=\"background-color:inherit\">les </span></span><span class=\"f charStyle-bec71f61 ps34364\" style=\"width:24.07pt\"><span style=\"background-color:inherit\">swaps</span></span><span class=\"f charStyle-68ecf294 ps34365\" style=\"width:191.51pt\"><span style=\"background-color:inherit\"> de devises relatifs aux couvertures des comptes</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:124.82pt\"><span style=\"background-color:inherit\">courants et bancaires du Groupe.</span></span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition nette globale du Groupe<span id=\"i7f965bab3bbe488b8bb37f2d597fd955\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:272.27pt\">L\u2019exposition nette globale du Groupe (sur les positions bilantielles) au </span><span class=\"f charStyle-81993cb5 ps34368\" style=\"width:69.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81993cb5 ps34369\" style=\"width:139.42pt\">, bas\u00e9e sur les montants notionnels,</span><span class=\"f charStyle-81993cb5 ps1722\" style=\"width:1.87pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:47.45pt\">se\u00a0concentre</span><span class=\"f charStyle-165dec60 ps29032\" style=\"width:290.35pt\"> sur les principales devises suivantes (hors devises fonctionnelles des entit\u00e9s)\u00a0:</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss2150\"><div><div class=\"ps9316 ss2149\"><span class=\"f charStyle-6bef0edd ps34370\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34373 ss2151\"><div><div class=\"ps9316 ss970\"><span class=\"f charStyle-98f46611 ps34371\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34372\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9317 ss2152\"><div><div class=\"ps34374 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34375 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps28834\">USD<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34376 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps9334\">CNY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34377 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps29149\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34378 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps23388\">JPY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34379 ss2153\"><div><div class=\"ps9319 ss208\"><span class=\"f charStyle-6bef0edd ps16616\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps32314\">devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34381 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps34380\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34383 ss2154\"><div><div class=\"ps9321 ss970\"><span class=\"f charStyle-ae6044e9 ps34382\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34384 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs commerciaux expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34386 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.88pt\"></span></span><span class=\"ps34385\">(141)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34388 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.26pt\"></span></span><span class=\"ps34387\">(97)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34389 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.01pt\"></span></span><span class=\"ps30894\">(267)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34390 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.2pt\"></span></span><span class=\"ps31002\">(28)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34391 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.97pt\"></span></span><span class=\"ps31180\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34392 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">(552)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34394 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.3pt\"></span></span><span class=\"ps34393\">(587)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs financiers expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34395 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">(416)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34396 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.43pt\"></span></span><span class=\"ps24061\">(1\u00a0313)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34397 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">49<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34398 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">(153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34399 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">720<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34401 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.95pt\"></span></span><span class=\"ps34400\">(1\u00a0113)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34402 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.82pt\"></span></span><span class=\"ps30659\">(1\u00a0832)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE BRUTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34403 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.45pt\"></span></span><span class=\"ps33612\">(557)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25916 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.77pt\"></span></span><span class=\"ps34404\">(1\u00a0410)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34405 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.71pt\"></span></span><span class=\"ps11374\">(218)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34406 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.19pt\"></span></span><span class=\"ps3626\">(181)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34408 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.01pt\"></span></span><span class=\"ps34407\">701<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34410 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.96pt\"></span></span><span class=\"ps34409\">(1\u00a0665)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34412 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.11pt\"></span></span><span class=\"ps34411\">(2\u00a0419)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10856 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s de change </span><span class=\"f charStyle-4da12822 ps34413\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34414 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.94pt\"></span></span><span class=\"ps14346\">549<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34416 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.47pt\"></span></span><span class=\"ps34415\">1\u00a0386<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34417 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.23pt\"></span></span><span class=\"ps10533\">(38)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34418 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">177<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34419 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.17pt\"></span></span><span class=\"ps23605\">(741)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34420 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.37pt\"></span></span><span class=\"ps4556\">1\u00a0333<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34422 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.81pt\"></span></span><span class=\"ps34421\">2\u00a0200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34423 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE NETTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34425 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.07pt\"></span></span><span class=\"ps34424\">(8)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34426 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.44pt\"></span></span><span class=\"ps11138\">(24)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34428 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.37pt\"></span></span><span class=\"ps34427\">(256)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34429 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.86pt\"></span></span><span class=\"ps3374\">(4)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34431 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.77pt\"></span></span><span class=\"ps34430\">(40)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34433 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.72pt\"></span></span><span class=\"ps34432\">(332)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34434 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.39pt\"></span></span><span class=\"ps29596\">(219)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.07pt\">hors instruments d\u00e9riv\u00e9s de couverture de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34439 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:53.56pt\">au 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34438\" style=\"width:15.97pt\">2024</span></div><div class=\"ps34440 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.18pt\">Dans le tableau ci-dessus, la colonne libell\u00e9e EUR correspond \u00e0 l\u2019exposition nette euro des entreprises du Groupe dont la</span><span class=\"f charStyle-165dec60 ps1225\" style=\"width:1.96pt\"> </span></div><div class=\"ps34441 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro. Il existe notamment une exposition des filiales localis\u00e9es en Europe centrale et dans le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:281.57pt\">bassin m\u00e9diterran\u00e9en, qui se financent en euros aupr\u00e8s de la soci\u00e9t\u00e9 Valeo.</span><span class=\"f charStyle-165dec60 ps19744\" style=\"width:1.96pt\"> </span></div><div class=\"ps34443 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-ebecb6c1 ps275\">Analyse de sensibilit\u00e9 de l\u2019exposition nette au risque de change<span id=\"id807047dcfdb40f4ab8040cb86a3265b\"></span></span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.18pt\"><span style=\"background-color:inherit\">Les cours de change retenus pour le dollar am\u00e9ricain, pour le yen japonais et pour le renminbi chinois s\u2019\u00e9tablissent</span></span><span class=\"f charStyle-68ecf294 ps1225\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:209.44pt\"><span style=\"background-color:inherit\">respectivement pour 1 euro \u00e0 1,175, 184,09 et 8,2262 au\u00a0</span></span><span class=\"f charStyle-165dec60 ps27923\" style=\"width:68.84pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34444\" style=\"width:202.97pt\"><span style=\"background-color:inherit\"> contre 1,0389 pour le dollar am\u00e9ricain, 163,06 pour le</span></span><span class=\"f charStyle-68ecf294 ps719\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:189.02pt\"><span style=\"background-color:inherit\">yen japonais et 7,5833 pour le renminbi chinois au </span></span><span class=\"f charStyle-165dec60 ps34445\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps34446\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:151.5pt\">Une appr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps34447\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34448\" style=\"width:26.39pt\"> et au </span><span class=\"f charStyle-165dec60 ps34449\" style=\"width:70.49pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps34450\" style=\"width:163.11pt\"> par rapport \u00e0 ces devises aurait les effets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:293.04pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34462 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps10311 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-98f46611 ps25704\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34452\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2157\"><div><div class=\"ps16333 ss666\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10314 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps8015 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-873f2209 ps34454\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-98f46611 ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-d93fd2c0 ps34454\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32820 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34455 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au yen japonais<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32827 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34456 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.15pt\"></span></span><span class=\"ps34457\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-044fe383 ps10\">Exposition au renminbi chinois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32835 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34458 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.16pt\"></span></span><span class=\"ps28393\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition \u00e0 l'euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32844 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.91pt\"></span></span><span class=\"ps27904\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34459 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.14pt\"></span></span><span class=\"ps27880\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11367 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32852 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.12pt\"></span></span><span class=\"ps34460\">(22)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34461 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">(3)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(19)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.55pt\"></span></span><span class=\"ps11842\">(5)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">les chiffres pr\u00e9sent\u00e9s correspondent \u00e0 la sensibilit\u00e9 des autres \u00e9l\u00e9ments du r\u00e9sultat global li\u00e9e \u00e0 une \u00e9volution des instruments de couverture</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps34464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:125.23pt\">de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34465 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:69.53pt\">au 31 d\u00e9cembre 2024</span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Pour les besoins de ces analyses, toutes les autres variables,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">en particulier les taux d\u2019int\u00e9r\u00eats, sont suppos\u00e9es rester</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.01pt\">Une d\u00e9pr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps9638\" style=\"width:68.38pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34468\" style=\"width:14.92pt\"> par</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">rapport \u00e0 ces devises aurait l\u2019effet inverse en faisant</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">l\u2019hypoth\u00e8se que toutes les autres variables restent</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps19803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les effets des variations des taux de change sur la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">conversion en euro du montant des actifs nets sont refl\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:180.96pt\">dans les capitaux propres consolid\u00e9s du Groupe.</span></div><div class=\"ps12401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">De nombreuses entit\u00e9s du Groupe sont situ\u00e9es hors de la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34469 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">zone euro. La devise de pr\u00e9sentation des \u00e9tats financiers de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34470 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Valeo \u00e9tant l'euro, les \u00e9tats financiers de ses filiales sont</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34471 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">convertis en euros pour la pr\u00e9paration des \u00e9tats financiers</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34472 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">consolid\u00e9s. Dans le cadre de sa gestion du risque de change,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">le Groupe consid\u00e8re que ses investissements dans ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s \u00e9trang\u00e8res sont permanents. Les effets des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">fluctuations des taux de change sur la conversion des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps18064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">montants nets des actifs en euros sont refl\u00e9t\u00e9s dans la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps18065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:147.83pt\">situation nette consolid\u00e9e de la soci\u00e9t\u00e9.</span></div><div class=\"ps34473 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Par ailleurs, les op\u00e9rations de financements entre deux</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">entit\u00e9s du Groupe ayant des devises fonctionnelles</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">diff\u00e9rentes sont de nature \u00e0\u00a0 exposer le r\u00e9sultat de Valeo au</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">risque de change. Pour se pr\u00e9munir contre ce risque, le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe peut \u00eatre amen\u00e9 \u00e0 contracter des instruments</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u00e9riv\u00e9s. Les op\u00e9rations de financement intragroupes faisant</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps15322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l\u2019objet d\u2019une \u00e9limination dans les comptes consolid\u00e9s du</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps15323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Groupe, les variations de valeur de ces instruments de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">couverture sont susceptibles d\u2019avoir une incidence sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps15325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:112.38pt\">l\u2019endettement net du Groupe.</span><span class=\"f charStyle-165dec60 ps34479\" style=\"width:1.96pt\"> </span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s de change<span id=\"ifd1a9b59195e44118cc2cd75d31ddeef\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.33pt\">Les cours de cl\u00f4ture de la Banque centrale europ\u00e9enne (BCE) et les taux <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps34480\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps34481\" style=\"width:13.92pt\"> au </span><span class=\"f charStyle-165dec60 ps34482\" style=\"width:68pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34483\" style=\"width:92.95pt\"> ont \u00e9t\u00e9 retenus pour les</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.9pt\">instruments financier</span><span class=\"f charStyle-68ecf294 ps34484\" style=\"width:76.2pt\"><span style=\"background-color:inherit\">s relatifs au change :</span></span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></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><td style=\"padding:0;width:44.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34489 ss2158\"><div><div class=\"ps34486 ss1241\"><span class=\"f charStyle-6bef0edd ps34485\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss1241\"><span class=\"f charStyle-6bef0edd ps34487\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps32073 ss1461\"><div><div class=\"ps509 ss1458\"><span class=\"f charStyle-6bef0edd ps34490\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps23157 ss2159\"><div><div class=\"ps34488 ss387\"><span class=\"f charStyle-6bef0edd ps29952\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34491 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps11418\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34493 ss2161\"><div><div class=\"ps509 ss2160\"><span class=\"f charStyle-ae6044e9 ps34492\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps18555 ss1338\"><div><div class=\"ps509 ss1241\"><span class=\"f charStyle-ae6044e9 ps4515\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2163\"><div><div class=\"ps16333 ss2162\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34494 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps14424\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34495 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34298\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13681 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34496\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34497 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps10154\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34499 ss1291\"><div><div class=\"ps509 ss1241\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps34498\">2031</span><span class=\"f charStyle-98f46611 ps28741\"> et </span></div><div class=\"ps523 ss1241\"><span class=\"f charStyle-98f46611 ps16621\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2164\"><div><div class=\"ps15656 ss2162\"><span class=\"f charStyle-044fe383 ps10\">Contrats de change \u00e0 </span></div><div class=\"ps13845 ss2162\"><span class=\"f charStyle-044fe383 ps10\">terme utilis\u00e9s comme </span></div><div class=\"ps15657 ss2162\"><span class=\"f charStyle-044fe383 ps10\">couverture\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16837 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34500 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.97pt\"></span></span><span class=\"ps9752\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34502 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.7pt\"></span></span><span class=\"ps34501\">53<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34503 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.21pt\"></span></span><span class=\"ps26757\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34505 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34506 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34507 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34508 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34509 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34510 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34511 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34512 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34513 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34514 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34515 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34516 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34518 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.39pt\"></span></span><span class=\"ps34517\">(9)</span></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss2169\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-373e86b9 ps10\">Swaps</span><span class=\"f charStyle-044fe383 ps9416\"> de devise utilis\u00e9s </span></div><div class=\"ps34519 ss2162\"><span class=\"f charStyle-044fe383 ps10\">comme couverture :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26205 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34520 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34521 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34522 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34523 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34524 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34525 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34526 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34527 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.15pt\"></span></span><span class=\"ps10935\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34529 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34530 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34531 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34532 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34533 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34534 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34535 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34536 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.03pt\"></span></span><span class=\"ps358\">(13)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34537 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.2<span id=\"ied6f756cc13447c88d404fc067ae2977\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps21101\"><span style=\"display:inline-block;height:8.22pt;width:7.76pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s mati\u00e8res </span></span></div><div class=\"ps34538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">(m\u00e9taux\u00a0non\u00a0ferreux)</span></div><div class=\"ps34539 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de mati\u00e8res premi\u00e8res<span id=\"i5e94a017c5bf4069a11a3c272f74f99a\"></span></span></div><div class=\"ps633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe g\u00e8re son exposition aux mati\u00e8res premi\u00e8res en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">mettant en place, chaque fois que cela est possible, des</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4042 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.8pt\">clauses </span><span class=\"f charStyle-81f42323 ps34540\" style=\"width:197.47pt\">d\u2019indexation de ses prix de vente dans les contrats</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps4044 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:51.47pt\">commerciaux.</span><span class=\"f charStyle-165dec60 ps34541\" style=\"width:177.86pt\"> C\u2019est notamment le cas pour les m\u00e9taux non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">ferreux et l\u2019acier pour lesquels ces clauses couvrent plus de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4049 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:73.47pt\">80% de l\u2019exposition.</span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">L\u2019exposition aux m\u00e9taux non ferreux, cot\u00e9s principalement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.6pt\">sur le </span><span class=\"f charStyle-e8054d08 ps34542\" style=\"width:101.5pt\">London Metal Exchange </span><span class=\"f charStyle-165dec60 ps34543\" style=\"width:64.03pt\">(LME) et sur le </span><span class=\"f charStyle-e8054d08 ps34544\" style=\"width:37.12pt\">Shanghai</span><span class=\"f charStyle-e8054d08 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:71.68pt\">Futures Exchange</span><span class=\"f charStyle-165dec60 ps11708\" style=\"width:157.63pt\">, ainsi que, dans une moindre mesure,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">l'exposition au propyl\u00e8ne, sont couvertes aupr\u00e8s de banques</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de premier rang au travers d\u2019instruments d\u00e9riv\u00e9s de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">couverture. L\u2019objet de ces couvertures est de limiter l\u2019impact</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">des variations de prix de ces mati\u00e8res premi\u00e8res sur les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9sultats du Groupe et d\u2019offrir le temps n\u00e9cessaire \u00e0 Valeo</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">pour n\u00e9gocier en cons\u00e9quence des hausses de prix aupr\u00e8s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34548 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">de ses clients.\u00a0Les expositions r\u00e9sultant d\u2019indexations des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">prix de vente sur des p\u00e9riodes diff\u00e9rentes de celles pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps11996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">dans les contrats achats de mati\u00e8res premi\u00e8res font</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps11997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:126.11pt\">\u00e9galement l\u2019objet de couvertures.</span></div><div class=\"ps34550 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Les couvertures sont r\u00e9alis\u00e9es via des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">sans livraison de sous-jacent physique (essentiellement des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps12000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34552\" style=\"width:205.23pt\"> sur le cours moyen mensuel). Ces op\u00e9rations sont</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps12001 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">qualifi\u00e9es de couvertures de flux de tr\u00e9sorerie au sens de la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.35pt\">norme IFRS 9.</span></div><div class=\"ps29481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">L\u2019acier, la plupart des plastiques et les terres rares ne</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">peuvent pas faire l\u2019objet de couvertures \u00e0 terme sur les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">march\u00e9s financiers car ces mati\u00e8res ne sont pas cot\u00e9es sur</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.33pt\">un march\u00e9 organis\u00e9.</span></div><div class=\"ps29488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">La part relative des stocks dans l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps21741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">financi\u00e8re du Groupe est peu influenc\u00e9e par la variation du</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">prix des mati\u00e8res premi\u00e8res compte tenu de leur rotation</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">rapide et de l\u2019optimisation des flux logistiques qui en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.3pt\">r\u00e9duisent le montant.</span></div><div class=\"ps16325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.76pt\">Les volumes couverts de m\u00e9taux non ferreux en fin de p\u00e9riode s\u2019\u00e9tablissent aux </span><span class=\"f charStyle-165dec60 ps34555\" style=\"width:70.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34556\" style=\"width:14.55pt\"> et </span><span class=\"f charStyle-165dec60 ps34557\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34558\" style=\"width:58.02pt\"> de la mani\u00e8re</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34559 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante\u00a0:</span></div><div class=\"ps34568 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en tonnes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Aluminium<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">41\u00a0213<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.05pt\"></span></span><span class=\"ps34561\">44\u00a0483<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aluminium 2</span><span class=\"f charStyle-4da12822 ps34562\"><sup>e</sup></span><span class=\"f charStyle-044fe383 ps34563\"> fusion</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">10\u00a0513<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.86pt\"></span></span><span class=\"ps34564\">9\u00a0600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cuivre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.5pt\"></span></span><span class=\"ps34565\">10\u00a0309<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.47pt\"></span></span><span class=\"ps34566\">11\u00a0326<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.13pt\"></span></span><span class=\"ps34567\">62\u00a0035<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.03pt\"></span></span><span class=\"ps24079\">65\u00a0409<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Les produits d\u00e9riv\u00e9s sur m\u00e9taux de base utilis\u00e9s par le</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:36.01pt\"><span style=\"background-color:inherit\">Groupe s</span></span><span class=\"f charStyle-b26c2267 ps34569\" style=\"width:193.25pt\"><span style=\"background-color:inherit\">ont qualifi\u00e9s de couverture de flux de tr\u00e9sorerie.</span></span><span class=\"f charStyle-b26c2267 ps410\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:56.36pt\"><span style=\"background-color:inherit\">Pour l\u2019exercice </span></span><span class=\"f charStyle-68ecf294 ps34570\" style=\"width:28.13pt\"><span style=\"background-color:inherit\">clos au </span></span><span class=\"f charStyle-165dec60 ps34571\" style=\"width:67.62pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34572\" style=\"width:77.19pt\"><span style=\"background-color:inherit\">, un gain latent de 15</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">millions d'euros li\u00e9 aux couvertures en place est comptabilis\u00e9</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.95pt\"><span style=\"background-color:inherit\">dans les Autres \u00e9l\u00e9ments du r\u00e9sultat global.</span></span></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">La perte latente de 3 millions d\u2019euros comptabilis\u00e9e dans les</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:156.71pt\">Autres \u00e9l\u00e9ments du r\u00e9sultat global au </span><span class=\"f charStyle-165dec60 ps34573\" style=\"width:72.61pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">relatif aux couvertures en place a \u00e9t\u00e9 enti\u00e8rement reclass\u00e9e</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.94pt\">en r\u00e9sultat op\u00e9rationnel en </span><span class=\"f charStyle-165dec60 ps34574\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34575\" style=\"width:1.59pt\">.</span></div><div class=\"ps34576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 des couvertures en vie au 31 d\u00e9cembre 2025 <span id=\"i97288b4385f944e49abf2157435a6ea3\"></span></span></div><div class=\"ps34579 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:207.87pt\">Une hausse de 10\u00a0% des cours \u00e0 terme des m\u00e9taux aux </span><span class=\"f charStyle-49b068b5 ps13902\" style=\"width:67.04pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-49b068b5 ps34577\" style=\"width:12.27pt\"> et </span><span class=\"f charStyle-49b068b5 ps4176\" style=\"width:18.01pt\">2024</span><span class=\"f charStyle-49b068b5 ps34578\" style=\"width:176.07pt\"> aurait les impacts suivants sur le r\u00e9sultat et les</span><span class=\"f charStyle-49b068b5 ps689\" style=\"width:1.86pt\"> </span></div><div class=\"ps34581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:33.29pt\">capitaux </span><span class=\"f charStyle-165dec60 ps34580\" style=\"width:85.56pt\">propres, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34588 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:90pt\"></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:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps3695 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps11003\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34582 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps10032\">Gains/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2020\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une hausse de 10 % </span></div><div class=\"ps748 ss762\"><span class=\"f charStyle-044fe383 ps10\">des\u00a0cours \u00e0 terme des m\u00e9taux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34584 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34586 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:77.21pt\"></span></span><span class=\"ps34585\">12<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16366 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.5pt\"></span></span><span class=\"ps34587\">10<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:375.05pt\">, une baisse de 10 % des cours \u00e0 terme des m\u00e9taux aurait un impact d\u00e9favorable du m\u00eame montant.</span></div><div class=\"ps34591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:353.5pt\">Pour les besoins de cette analyse, toutes les autres variables sont suppos\u00e9es rester constantes.</span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s mati\u00e8res<span id=\"i5d6c314b0abd4d5091fcf36884542372\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:79.4pt\">Les cours \u00e0 terme du </span><span class=\"f charStyle-8ab43435 ps34592\" style=\"width:91.01pt\">London Metal Exchange</span><span class=\"f charStyle-53279637 ps34593\" style=\"width:37.06pt\"> (LME) du </span><span class=\"f charStyle-53279637 ps34594\" style=\"width:66.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-53279637 ps34595\" style=\"width:207.67pt\"> ont \u00e9t\u00e9 utilis\u00e9s pour \u00e9tablir les \u00e9ch\u00e9ances contractuelles</span><span class=\"f charStyle-53279637 ps455\" style=\"width:1.85pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:30.27pt\">relatives</span><span class=\"f charStyle-165dec60 ps13762\" style=\"width:82.9pt\"> aux d\u00e9riv\u00e9s mati\u00e8res :</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:66pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32207 ss2172\"><div><div class=\"ps34486 ss2067\"><span class=\"f charStyle-6bef0edd ps25857\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss2067\"><span class=\"f charStyle-6bef0edd ps34596\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps13831 ss2174\"><div><div class=\"ps509 ss2173\"><span class=\"f charStyle-6bef0edd ps34597\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9972 ss2175\"><div><div class=\"ps34488 ss637\"><span class=\"f charStyle-6bef0edd ps13199\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34599 ss2176\"><div><div class=\"ps9325 ss637\"><span class=\"f charStyle-ae6044e9 ps34598\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34601 ss2178\"><div><div class=\"ps509 ss2177\"><span class=\"f charStyle-ae6044e9 ps34600\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34582 ss1116\"><div><div class=\"ps509 ss637\"><span class=\"f charStyle-ae6044e9 ps10060\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34603 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34602\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34604 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps3800\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34606 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34605\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34608 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34607\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss638\"><div><div class=\"ps509 ss637\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps17690\">2031</span><span class=\"f charStyle-98f46611 ps34609\"> et </span></div><div class=\"ps523 ss637\"><span class=\"f charStyle-98f46611 ps400\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s mati\u00e8res :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34610 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.05pt\"></span></span><span class=\"ps30356\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34612 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34613 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34614 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34615 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34616 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34617 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34618 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34620 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.45pt\"></span></span><span class=\"ps34619\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34622 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34623 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34624 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34625 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34626 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34627 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34628 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34630 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.3<span id=\"i3b53baccdf014b5d95fd02b7048bdcc7\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34629\"><span style=\"display:inline-block;height:8.22pt;width:7.74pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de taux d\u2019int\u00e9r\u00eats</span></span></div><div class=\"ps34631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de taux d\u2019int\u00e9r\u00eats<span id=\"ia2409fd65f9048dc93cab92c5820a734\"></span></span></div><div class=\"ps872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:113.58pt\">Le Groupe peut utiliser des </span><span class=\"f charStyle-bed55b1c ps34632\" style=\"width:23.72pt\">swaps</span><span class=\"f charStyle-5064d44f ps34633\" style=\"width:91.97pt\"> de taux d\u2019int\u00e9r\u00eat pour</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps873 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:44.9pt\">convertir le </span><span class=\"f charStyle-165dec60 ps20548\" style=\"width:184.35pt\">taux contractuel de la dette en un taux variable</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps874 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.05pt\">ou fixe. La </span><span class=\"f charStyle-81f42323 ps22029\" style=\"width:189.21pt\">tr\u00e9sorerie et les \u00e9quivalents de tr\u00e9sorerie sont plac\u00e9s</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps875 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.31pt\">aussi bien \u00e0 taux fixe qu'\u00e0 taux variable. La dette financi\u00e8re est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:59.02pt\">majoritairement</span><span class=\"f charStyle-165dec60 ps34634\" style=\"width:62.27pt\"> \u00e0 taux fixe\u00a0: au </span><span class=\"f charStyle-165dec60 ps34635\" style=\"width:69.28pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps14259\" style=\"width:38.71pt\">, 82 % des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dettes financi\u00e8res \u00e0 long terme (part \u00e0 plus d\u2019un an) sont \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">taux fixe, ratio en augmentation par rapport \u00e0 celui de l'an</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.81pt\">dernier.</span></div><div class=\"ps2729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Une filiale japonaise du Groupe a mis en place un</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financement pour l'une de ses filiales en roupies</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps887 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">indon\u00e9siennes. Afin de se couvrir contre les risques de taux</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps888 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">et de change li\u00e9s \u00e0 ce financement, celle-ci a contract\u00e9 deux</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">cross currency swaps d'un montant notionnel de 4 milliards</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de yens japonais, adoss\u00e9s en terme de maturit\u00e9.Ces d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps16144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">ne sont pas d\u00e9sign\u00e9s dans une relation de couverture</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:110.87pt\">La tranche \u00e0 taux variable du </span><span class=\"f charStyle-e8054d08 ps34636\" style=\"width:50.59pt\">Schuldschein</span><span class=\"f charStyle-165dec60 ps34637\" style=\"width:67.8pt\"> \u00e9mis en avril 2019</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps16149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.04pt\">a </span><span class=\"f charStyle-81f42323 ps21418\" style=\"width:78.71pt\">\u00e9t\u00e9 couverte par un </span><span class=\"f charStyle-a702cc9d ps34638\" style=\"width:19.69pt\">swap</span><span class=\"f charStyle-81f42323 ps34639\" style=\"width:122.88pt\"> de taux qui \u00e9change le coupon</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps34645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.09pt\">variable</span><span class=\"f charStyle-165dec60 ps34640\" style=\"width:2.49pt\"> </span><span class=\"f charStyle-81f42323 ps34641\" style=\"width:69.71pt\">contre un taux fixe.</span><span class=\"f charStyle-81f42323 ps34642\" style=\"width:80.38pt\">\u00a0Cet instrument a \u00e9t\u00e9 </span><span class=\"f charStyle-81f42323 ps34643\" style=\"width:28.75pt\">d\u00e9sign\u00e9</span><span class=\"f charStyle-81f42323 ps34644\" style=\"width:19.82pt\"> dans</span><span class=\"f charStyle-81f42323 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:44.08pt\">une relation</span><span class=\"f charStyle-165dec60 ps34646\" style=\"width:78.76pt\"> de couverture type </span><span class=\"f charStyle-e8054d08 ps34647\" style=\"width:106.49pt\">cash-flow hedge, laquelle a</span><span class=\"f charStyle-e8054d08 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:58.14pt\">pris fin en 2025.</span></div><div class=\"ps12593 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:23.47pt\">Deux </span><span class=\"f charStyle-e8054d08 ps34648\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34649\" style=\"width:181.78pt\"> de taux d'int\u00e9r\u00eat pour un montant global de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">600\u00a0millions d'euros ont \u00e9t\u00e9 mis en place en novembre 2022</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps34651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pour variabiliser partiellement les int\u00e9r\u00eats de l'emprunt</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">EMTN de 750 millions d'euros \u00e9mis concomitamment. Ces</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">instruments ont \u00e9t\u00e9 d\u00e9sign\u00e9s dans une relation de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.36pt\">couverture de type </span><span class=\"f charStyle-e8054d08 ps1025\" style=\"width:61.61pt\">fair value hedge</span><span class=\"f charStyle-165dec60 ps34652\" style=\"width:1.59pt\">.</span></div><div class=\"ps34665 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss1944\"><div><div class=\"ps10309 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30404 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-ae6044e9 ps34653\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30405 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30407 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-373e86b9 ps10\">Swaps </span><span class=\"f charStyle-044fe383 ps31087\">de taux\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Emprunt en roupie indon\u00e9sienne </span><span class=\"f charStyle-4da12822 ps34656\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30414 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30416 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placement priv\u00e9 </span><span class=\"f charStyle-373e86b9 ps34657\">Schuldschein<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30417 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30419 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.69pt\"></span></span><span class=\"ps34658\">123<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383\"><span class=\"ps511\">EMTN \u00e9ch\u00e9ance 2027<span style=\"display:inline-block;height:7.26pt;width:27.06pt\"></span></span><span class=\"ps34659\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span><span class=\"ps34660\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30421 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30422 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.64pt\"></span></span><span class=\"ps34661\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.62pt\"></span></span><span class=\"ps34662\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30425 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.02pt\"></span></span><span class=\"ps34663\">622<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30427 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.37pt\"></span></span><span class=\"ps19146\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.13pt\"></span></span><span class=\"ps30949\">747<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.31pt\"></span></span><span class=\"ps34664\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:405.78pt\">Les nominaux des cross-currency swaps sont ceux de la jambe en JPY contre-valoris\u00e9s aux taux de change du 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34666\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps34667\" style=\"width:1.37pt\">.</span></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition n<span id=\"i545268519cd045d99c70f1f2a46a25f9\"></span></span><span class=\"f charStyle-aa33f529 ps34669\">ette du Groupe</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:481.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, la position nette du Groupe en mati\u00e8re de taux d\u2019int\u00e9r\u00eat, sur la base des valeurs nominales, s\u2019analyse</span></span><span class=\"f charStyle-61077b09 ps8343\" style=\"width:1.87pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:47.53pt\"><span style=\"background-color:inherit\">comme\u00a0suit\u00a0:</span></span></div><div class=\"ps34670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i7c1caff05389438598ff69b9c06bc3af\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps34754 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps34671\">Moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps16613\">Un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps96\">Plus de cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.71pt\"></span></span><span class=\"ps34683\">931<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.52pt\"></span></span><span class=\"ps34685\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.42pt\"></span></span><span class=\"ps16443\">3\u00a0703<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.53pt\"></span></span><span class=\"ps34687\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.83pt\"></span></span><span class=\"ps34689\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.09pt\"></span></span><span class=\"ps34692\">5\u00a0989<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.92pt\"></span></span><span class=\"ps6862\">602<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.17pt\"></span></span><span class=\"ps34694\">6\u00a0591<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Pr\u00eats<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-044fe383 ps10\">Tr\u00e9sorerie et \u00e9quivalents </span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.09pt\"></span></span><span class=\"ps34717\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE AVANT GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.56pt\"></span></span><span class=\"ps34722\">3\u00a0677<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.11pt\"></span></span><span class=\"ps34728\">5\u00a0508<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.25pt\"></span></span><span class=\"ps8726\">(1\u00a0450)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE APR\u00c8S GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.24pt\"></span></span><span class=\"ps34744\">3\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.03pt\"></span></span><span class=\"ps34746\">1\u00a0002<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.1pt\"></span></span><span class=\"ps34750\">4\u00a0908<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.52pt\"></span></span><span class=\"ps22390\">(850)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"iaa49409005a24d068ec1a1aab477abbb\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps34769 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps34671\"><span style=\"background-color:inherit\">Moins d'un an</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps16613\"><span style=\"background-color:inherit\">Un \u00e0 cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps96\"><span style=\"background-color:inherit\">Plus de cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-ae837db4 ps10\"><span style=\"background-color:inherit\">(en millions d'euros)</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Passifs financiers</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.31pt\"></span></span><span class=\"ps34756\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0910</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.78pt\"></span></span><span class=\"ps25365\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">272</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:11.14pt\"></span></span><span class=\"ps34757\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0413</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:10.05pt\"></span></span><span class=\"ps34758\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.8pt\"></span></span><span class=\"ps16452\">6\u00a0413<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\">649<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.05pt\"></span></span><span class=\"ps11361\">7\u00a0062<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Pr\u00eats</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(25)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Int\u00e9r\u00eats courus</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(32)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">Tr\u00e9sorerie et \u00e9quivalents </span></span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">de\u00a0tr\u00e9sorerie</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(788)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0365)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\">(788)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\">(2\u00a0365)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.39pt\"></span></span><span class=\"ps399\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE AVANT GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.85pt\"></span></span><span class=\"ps34763\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0093</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.29pt\"></span></span><span class=\"ps32226\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0388</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.95pt\"></span></span><span class=\"ps23575\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.43pt\"></span></span><span class=\"ps34764\">5\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.6pt\"></span></span><span class=\"ps10774\">(1\u00a0716)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Instruments d\u00e9riv\u00e9s</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:17.99pt\"></span></span><span class=\"ps34765\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">122</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.03pt\"></span></span><span class=\"ps25428\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(122)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(600)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">600</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.59pt\"></span></span><span class=\"ps34766\">(478)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.55pt\"></span></span><span class=\"ps4561\">478<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE APR\u00c8S GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.35pt\"></span></span><span class=\"ps26354\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0212</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.66pt\"></span></span><span class=\"ps10515\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0215)</span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.1pt\"></span></span><span class=\"ps34767\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0788</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">977</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.66pt\"></span></span><span class=\"ps34768\">5\u00a0090<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.15pt\"></span></span><span class=\"ps28900\">(1\u00a0238)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11713 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Les passifs financiers se composent principalement du nominal des dettes long terme, des financements court terme, des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps11714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.04pt\">dettes sur biens lou\u00e9s et des concours bancaires.</span></div><div class=\"ps34770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 au risque de taux<span id=\"ic9e6dd87aba1437f8fc6bf5d5d0cda90\"></span></span></div><div class=\"ps19414 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:240.37pt\">L\u2019essentiel de la dette financi\u00e8re \u00e0 long terme est \u00e0 taux fixe au </span><span class=\"f charStyle-165dec60 ps34771\" style=\"width:67.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34772\" style=\"width:173.03pt\">. Les dettes \u00e0 taux fixe comptabilis\u00e9es au co\u00fbt</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">amorti ne rentrent pas dans le calcul de la sensibilit\u00e9 au risque de taux. L\u2019exposition du Groupe au risque de taux est donc</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:158.14pt\">limit\u00e9e \u00e0\u00a0son endettement \u00e0 taux variable.</span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">Ainsi une hausse instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat appliqu\u00e9e aux actifs et passifs financiers \u00e0 taux variable aurait les impacts</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:466.13pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, apr\u00e8s prise en compte des produits d\u00e9riv\u00e9s et avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34789 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:177.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34774 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-6bef0edd ps28487\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34775 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-ae6044e9 ps29910\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2186\"><div><div class=\"ps16333 ss2185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34777 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34780 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34781 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34782 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2188\"><div><div class=\"ps746 ss2185\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une variation de +\u00a01 % des taux </span></div><div class=\"ps748 ss2185\"><span class=\"f charStyle-044fe383 ps10\">d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34784 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.89pt\"></span></span><span class=\"ps34783\">(9)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34785 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34787 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.5pt\"></span></span><span class=\"ps34786\">(12)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34788 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34791 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:389.62pt\">, une diminution instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat aurait eu un impact favorable du m\u00eame montant.</span><span class=\"f charStyle-165dec60 ps34790\" style=\"width:1.96pt\"> </span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.5<span id=\"i8958087fa6d34bad9debe10caf97dc41\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps27028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.27pt\">Les placements long terme s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34814\" style=\"width:44.29pt\">272 millions</span><span class=\"f charStyle-165dec60 ps34815\" style=\"width:19.92pt\"> \u00e0 fin </span><span class=\"f charStyle-165dec60 ps34816\" style=\"width:58.58pt\">d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps17656\" style=\"width:101.7pt\"> et ont \u00e9volu\u00e9 comme suit\u00a0:</span></div><div class=\"ps34821 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 1</span><span class=\"f charStyle-f4bb8995 ps34817\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps34818\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">321<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en capitaux propres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les fonds communs de placement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.56pt\"></span></span><span class=\"ps34819\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:334.22pt\">Ils sont principalement compos\u00e9s des titres de participations dans les soci\u00e9t\u00e9s suivantes\u00a0:</span></div><div class=\"ps34830 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.45pt\"></span></span><span class=\"ps34823\">52<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine II<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.46pt\"></span></span><span class=\"ps34825\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">41<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund II (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund III (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Iris Capital<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.28pt\"></span></span><span class=\"ps34827\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.74pt\"></span></span><span class=\"ps28147\">24<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aledia</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Autres placements long terme\u00a0</span><span class=\"f charStyle-4da12822 ps34828\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.14pt\"></span></span><span class=\"ps34829\">56<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:466.99pt\">Autres participations dans des fonds d\u2019investissement et des soci\u00e9t\u00e9s sur lesquelles Valeo n\u2019exerce ni contr\u00f4le ni influence notable dont la</span><span class=\"f charStyle-776a1ec6 ps1288\" style=\"width:1.7pt\"> </span></div><div class=\"ps34832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:168.03pt\">valeur individuelle n'exc\u00e8de pas 20 millions d\u2019euros.</span></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">9.2<span id=\"i5d90dfc92b444e5bb751983e849bfc5f\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30808\"><span style=\"display:inline-block;height:10.16pt;width:26.9pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat financier<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div><div class=\"ps34922 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:338.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2192\"><div><div class=\"ps10243 ss2191\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps20786 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-6bef0edd ps34892\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11017 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-ae6044e9 ps34893\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Co\u00fbt de l'endettement financier brut </span><span class=\"f charStyle-4da12822 ps34894\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20792 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.77pt\"></span></span><span class=\"ps34895\">(327)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20794 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.65pt\"></span></span><span class=\"ps25386\">(363)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">Produits d'int\u00e9r\u00eats relatifs \u00e0 la tr\u00e9sorerie et aux placements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20799 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58pt\"></span></span><span class=\"ps34896\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20801 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">CO\u00dbT DE L'ENDETTEMENT FINANCIER NET</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20805 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.79pt\"></span></span><span class=\"ps25855\">(256)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20807 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.62pt\"></span></span><span class=\"ps27569\">(251)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Charge nette d'int\u00e9r\u00eats sur les provisions retraites et assimil\u00e9s </span><span class=\"f charStyle-4da12822 ps34897\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20810 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.47pt\"></span></span><span class=\"ps34898\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20812 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.73pt\"></span></span><span class=\"ps34899\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat de change<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20817 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.16pt\"></span></span><span class=\"ps34900\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20819 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.89pt\"></span></span><span class=\"ps34901\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers sur mati\u00e8res (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34903 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34904 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers de taux (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34905 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34906 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9sultat sur les placements long terme d\u00e9tenus \u00e0 des fins de transaction </span><span class=\"f charStyle-4da12822 ps34907\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34908 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.18pt\"></span></span><span class=\"ps27854\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34910 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.4pt\"></span></span><span class=\"ps34909\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Autres \u00e9l\u00e9ments </span><span class=\"f charStyle-4da12822 ps34911\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34913 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.87pt\"></span></span><span class=\"ps34912\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34915 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.7pt\"></span></span><span class=\"ps34914\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">AUTRES PRODUITS ET CHARGES FINANCIERS</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34916 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.35pt\"></span></span><span class=\"ps28635\">(73)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34918 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.84pt\"></span></span><span class=\"ps34917\">(34)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17301 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34919 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.48pt\"></span></span><span class=\"ps32705\">(329)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34921 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.3pt\"></span></span><span class=\"ps34920\">(285)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34927 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps275\" style=\"width:6.27pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:147.39pt\">Dont 6 millions d\u2019euros de co\u00fbts financiers en </span><span class=\"f charStyle-065ed5e8 ps34923\" style=\"width:14.91pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34924\" style=\"width:109.73pt\"> sur les lignes de cr\u00e9dit non tir\u00e9es, </span><span class=\"f charStyle-065ed5e8 ps34925\" style=\"width:5.78pt\">31</span><span class=\"f charStyle-065ed5e8 ps34926\" style=\"width:189.23pt\"> millions d'euros de charges financi\u00e8res li\u00e9es aux dettes sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps1722\" style=\"width:1.59pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:44.88pt\">biens lou\u00e9s et </span><span class=\"f charStyle-065ed5e8 ps34928\" style=\"width:7.77pt\">20<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34929\" style=\"width:344.71pt\"> millions d\u2019euros de charges financi\u00e8res sur les op\u00e9rations d\u2019escompte des cr\u00e9ances commerciales et fiscales.</span></div><div class=\"ps34933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:32.24pt\">Note 6.3.4</span><span class=\"f charStyle-776a1ec6 ps34932\" style=\"width:35.85pt\">, page 409.</span></div><div class=\"ps34936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:30.3pt\">Note 9.1.5</span><span class=\"f charStyle-776a1ec6 ps34934\" style=\"width:35.21pt\">, page 439.</span><span class=\"f charStyle-776a1ec6 ps34935\" style=\"width:1.7pt\"> </span></div><div class=\"ps34937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:401.95pt\">Dont un produit de 12 millions d'euros en 2025 et une charge de 4 millions d\u2019euros en 2024 li\u00e9s \u00e0 l'hyperinflation en Turquie.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-514": {
   "value": "<div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les actifs et passifs financiers se composent</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:147pt\">principalement des \u00e9l\u00e9ments suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">les dettes financi\u00e8res \u00e0 long terme, les financements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:57.19pt\">court terme <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps32976\" style=\"width:155.12pt\">ainsi que les concours bancaires qui<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps431\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:97.56pt\">composent l\u2019endettement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4056\" style=\"width:76.04pt\"> financier brut (cf. </span><span class=\"f charStyle-165dec60 ps32978\" style=\"width:37.1pt\">Note 9.1.2</span><span class=\"f charStyle-165dec60 ps11627\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:64.61pt\">pages 427 \u00e0 431)\u00a0;</span></div><div class=\"ps13948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:149.68pt\">les pr\u00eats et cr\u00e9ances \u00e0 long terme\u00a0(cf.\u00a0</span><span class=\"f charStyle-81f42323 ps32981\" style=\"width:39.02pt\">Note 9.1.3.1</span><span class=\"f charStyle-81f42323 ps32982\" style=\"width:23.54pt\">, page</span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> </span></div><div class=\"ps13950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:18.35pt\">432)\u00a0;</span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:169.12pt\">la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie (cf. </span><span class=\"f charStyle-165dec60 ps32983\" style=\"width:41.61pt\">Note 9.1.3.2</span><span class=\"f charStyle-165dec60 ps32984\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:40.55pt\">page 432)\u00a0;</span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. </span><span class=\"f charStyle-165dec60 ps32985\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps32986\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps13942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les autres actifs et passifs financiers courants et non</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps13944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:47.88pt\">courants (cf. </span><span class=\"f charStyle-165dec60 ps32987\" style=\"width:35pt\">Note 9.1.5</span><span class=\"f charStyle-165dec60 ps32988\" style=\"width:42.45pt\">, page 439).</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Ce poste inclut principalement les emprunts obligataires,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.9pt\">les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps33323\" style=\"width:204.09pt\">placements priv\u00e9s, les emprunts contract\u00e9s aupr\u00e8s de</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.88pt\">la\u00a0Banque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33325\" style=\"width:5.28pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps33326\" style=\"width:172.82pt\">europ\u00e9enne d'investissement, les dettes sur</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:88.43pt\">biens lou\u00e9s et les autres </span><span class=\"f charStyle-165dec60 ps33328\" style=\"width:38.96pt\">emprunts.</span><span class=\"f charStyle-165dec60 ps33329\" style=\"width:1.96pt\"> </span></div><div class=\"ps33331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les emprunts sont \u00e9valu\u00e9s au co\u00fbt amorti. Le montant</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.49pt\">des i</span><span class=\"f charStyle-c8069515 ps33332\" style=\"width:196.45pt\">nt\u00e9r\u00eats comptabilis\u00e9s en charges financi\u00e8res est</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:38.66pt\">d\u00e9termin\u00e9</span><span class=\"f charStyle-165dec60 ps5623\" style=\"width:179.29pt\"> par application du taux d\u2019int\u00e9r\u00eat effectif de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">l\u2019emprunt \u00e0 sa valeur comptable. La diff\u00e9rence entre la</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps8503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.91pt\">charge calcul\u00e9e \u00e0 </span><span class=\"f charStyle-9206869b ps33336\" style=\"width:143.06pt\">partir du taux d\u2019int\u00e9r\u00eat effectif et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps418\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:91.05pt\">coupon impacte la valeu</span><span class=\"f charStyle-165dec60 ps33337\" style=\"width:46.73pt\">r de la dette.</span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.97pt\">Lorsqu\u2019un emprunt \u00e0 taux fixe est d\u00e9sign\u00e9 en tant</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:42.77pt\">qu\u2019\u00e9l\u00e9ment</span><span class=\"f charStyle-165dec60 ps33339\" style=\"width:175.19pt\"> couvert dans une relation de couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.74pt\">juste valeur, sa v</span><span class=\"f charStyle-9206869b ps33340\" style=\"width:150.2pt\">aleur comptable est ajust\u00e9e \u00e0 chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:80.95pt\">cl\u00f4ture de la variation</span><span class=\"f charStyle-165dec60 ps4123\" style=\"width:136.97pt\"> de juste valeur imputable au risque</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps33341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.18pt\">couvert.</span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les dettes sur biens lou\u00e9s sont \u00e9valu\u00e9es conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:84.43pt\">au descriptif fourni en </span><span class=\"f charStyle-165dec60 ps33342\" style=\"width:30.54pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps11863\" style=\"width:61.31pt\">, pages 416 \u00e0 418</span><span class=\"f charStyle-165dec60 ps33343\" style=\"width:1.59pt\">.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:135.64pt\">Ce poste inclut essentiellement les </span><span class=\"f charStyle-e8054d08 ps33904\" style=\"width:82.3pt\">Negotiable European</span><span class=\"f charStyle-e8054d08 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a702cc9d ps6588\" style=\"width:115.78pt\">Commercial Paper (NEU CP)</span><span class=\"f charStyle-81f42323 ps33906\" style=\"width:102.19pt\">, anciennement billets de</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:35.61pt\">tr\u00e9sorerie,</span><span class=\"f charStyle-165dec60 ps33908\" style=\"width:3.09pt\"> </span><span class=\"f charStyle-05bafb21 ps33909\" style=\"width:179.21pt\">\u00e9mis par Valeo pour se financer \u00e0 court terme. Ils</span><span class=\"f charStyle-05bafb21 ps444\" style=\"width:1.68pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:65.4pt\">ont une maturit\u00e9</span><span class=\"f charStyle-165dec60 ps17794\" style=\"width:152.5pt\"> comprise entre 1 et 12 mois et sont</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps33912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:87.3pt\">\u00e9valu\u00e9s au co\u00fbt amorti.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Afin de refl\u00e9ter les besoins en tr\u00e9sorerie du Groupe, les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">financements court terme sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">nets de tr\u00e9sorerie sur op\u00e9rations de financement dans le</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.3pt\">Tableau des flux de tr\u00e9sorerie consolid\u00e9s.</span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span><span class=\"f charStyle-165dec60 ps34106\" style=\"width:1.96pt\"> </span></div><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div>inf\u00e9rieures \u00e0 trois mois.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-513": {
   "value": "<div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les actifs et passifs financiers se composent</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:147pt\">principalement des \u00e9l\u00e9ments suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">les dettes financi\u00e8res \u00e0 long terme, les financements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:57.19pt\">court terme <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps32976\" style=\"width:155.12pt\">ainsi que les concours bancaires qui<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps431\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:97.56pt\">composent l\u2019endettement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4056\" style=\"width:76.04pt\"> financier brut (cf. </span><span class=\"f charStyle-165dec60 ps32978\" style=\"width:37.1pt\">Note 9.1.2</span><span class=\"f charStyle-165dec60 ps11627\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:64.61pt\">pages 427 \u00e0 431)\u00a0;</span></div><div class=\"ps13948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:149.68pt\">les pr\u00eats et cr\u00e9ances \u00e0 long terme\u00a0(cf.\u00a0</span><span class=\"f charStyle-81f42323 ps32981\" style=\"width:39.02pt\">Note 9.1.3.1</span><span class=\"f charStyle-81f42323 ps32982\" style=\"width:23.54pt\">, page</span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> </span></div><div class=\"ps13950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:18.35pt\">432)\u00a0;</span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:169.12pt\">la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie (cf. </span><span class=\"f charStyle-165dec60 ps32983\" style=\"width:41.61pt\">Note 9.1.3.2</span><span class=\"f charStyle-165dec60 ps32984\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:40.55pt\">page 432)\u00a0;</span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. </span><span class=\"f charStyle-165dec60 ps32985\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps32986\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps13942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les autres actifs et passifs financiers courants et non</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps13944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:47.88pt\">courants (cf. </span><span class=\"f charStyle-165dec60 ps32987\" style=\"width:35pt\">Note 9.1.5</span><span class=\"f charStyle-165dec60 ps32988\" style=\"width:42.45pt\">, page 439).</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-512": {
   "value": "<div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">Les actifs et passifs financiers se composent</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:147pt\">principalement des \u00e9l\u00e9ments suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">les dettes financi\u00e8res \u00e0 long terme, les financements<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32977 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:57.19pt\">court terme <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps32976\" style=\"width:155.12pt\">ainsi que les concours bancaires qui<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps431\" style=\"width:1.81pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32979 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps3285\" style=\"width:97.56pt\">composent l\u2019endettement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4056\" style=\"width:76.04pt\"> financier brut (cf. </span><span class=\"f charStyle-165dec60 ps32978\" style=\"width:37.1pt\">Note 9.1.2</span><span class=\"f charStyle-165dec60 ps11627\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:64.61pt\">pages 427 \u00e0 431)\u00a0;</span></div><div class=\"ps13948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d0a65de9 ps6588\" style=\"width:2.5pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps3285\" style=\"width:149.68pt\">les pr\u00eats et cr\u00e9ances \u00e0 long terme\u00a0(cf.\u00a0</span><span class=\"f charStyle-81f42323 ps32981\" style=\"width:39.02pt\">Note 9.1.3.1</span><span class=\"f charStyle-81f42323 ps32982\" style=\"width:23.54pt\">, page</span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> </span></div><div class=\"ps13950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:18.35pt\">432)\u00a0;</span></div><div class=\"ps19823 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:169.12pt\">la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie (cf. </span><span class=\"f charStyle-165dec60 ps32983\" style=\"width:41.61pt\">Note 9.1.3.2</span><span class=\"f charStyle-165dec60 ps32984\" style=\"width:1.59pt\">,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps19824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:40.55pt\">page 432)\u00a0;</span></div><div class=\"ps32975 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. </span><span class=\"f charStyle-165dec60 ps32985\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps32986\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps13942 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:212.31pt\">les autres actifs et passifs financiers courants et non</span><span class=\"f charStyle-165dec60 ps29662\" style=\"width:1.96pt\"> </span></div><div class=\"ps13944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:47.88pt\">courants (cf. </span><span class=\"f charStyle-165dec60 ps32987\" style=\"width:35pt\">Note 9.1.5</span><span class=\"f charStyle-165dec60 ps32988\" style=\"width:42.45pt\">, page 439).</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:458.56pt\">L\u2019endettement financier brut comprend les dettes financi\u00e8res \u00e0 long terme, les financements court terme et les concours<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps27007\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:37.2pt\">bancaires.<span class=\"f ps53\"> </span></span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Ce poste inclut principalement les emprunts obligataires,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.9pt\">les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps33323\" style=\"width:204.09pt\">placements priv\u00e9s, les emprunts contract\u00e9s aupr\u00e8s de</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.88pt\">la\u00a0Banque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33325\" style=\"width:5.28pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps33326\" style=\"width:172.82pt\">europ\u00e9enne d'investissement, les dettes sur</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:88.43pt\">biens lou\u00e9s et les autres </span><span class=\"f charStyle-165dec60 ps33328\" style=\"width:38.96pt\">emprunts.</span><span class=\"f charStyle-165dec60 ps33329\" style=\"width:1.96pt\"> </span></div><div class=\"ps33331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les emprunts sont \u00e9valu\u00e9s au co\u00fbt amorti. Le montant</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.49pt\">des i</span><span class=\"f charStyle-c8069515 ps33332\" style=\"width:196.45pt\">nt\u00e9r\u00eats comptabilis\u00e9s en charges financi\u00e8res est</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:38.66pt\">d\u00e9termin\u00e9</span><span class=\"f charStyle-165dec60 ps5623\" style=\"width:179.29pt\"> par application du taux d\u2019int\u00e9r\u00eat effectif de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">l\u2019emprunt \u00e0 sa valeur comptable. La diff\u00e9rence entre la</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps8503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.91pt\">charge calcul\u00e9e \u00e0 </span><span class=\"f charStyle-9206869b ps33336\" style=\"width:143.06pt\">partir du taux d\u2019int\u00e9r\u00eat effectif et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps418\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:91.05pt\">coupon impacte la valeu</span><span class=\"f charStyle-165dec60 ps33337\" style=\"width:46.73pt\">r de la dette.</span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.97pt\">Lorsqu\u2019un emprunt \u00e0 taux fixe est d\u00e9sign\u00e9 en tant</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:42.77pt\">qu\u2019\u00e9l\u00e9ment</span><span class=\"f charStyle-165dec60 ps33339\" style=\"width:175.19pt\"> couvert dans une relation de couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.74pt\">juste valeur, sa v</span><span class=\"f charStyle-9206869b ps33340\" style=\"width:150.2pt\">aleur comptable est ajust\u00e9e \u00e0 chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:80.95pt\">cl\u00f4ture de la variation</span><span class=\"f charStyle-165dec60 ps4123\" style=\"width:136.97pt\"> de juste valeur imputable au risque</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps33341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.18pt\">couvert.</span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les dettes sur biens lou\u00e9s sont \u00e9valu\u00e9es conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:84.43pt\">au descriptif fourni en </span><span class=\"f charStyle-165dec60 ps33342\" style=\"width:30.54pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps11863\" style=\"width:61.31pt\">, pages 416 \u00e0 418</span><span class=\"f charStyle-165dec60 ps33343\" style=\"width:1.59pt\">.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:135.64pt\">Ce poste inclut essentiellement les </span><span class=\"f charStyle-e8054d08 ps33904\" style=\"width:82.3pt\">Negotiable European</span><span class=\"f charStyle-e8054d08 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a702cc9d ps6588\" style=\"width:115.78pt\">Commercial Paper (NEU CP)</span><span class=\"f charStyle-81f42323 ps33906\" style=\"width:102.19pt\">, anciennement billets de</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:35.61pt\">tr\u00e9sorerie,</span><span class=\"f charStyle-165dec60 ps33908\" style=\"width:3.09pt\"> </span><span class=\"f charStyle-05bafb21 ps33909\" style=\"width:179.21pt\">\u00e9mis par Valeo pour se financer \u00e0 court terme. Ils</span><span class=\"f charStyle-05bafb21 ps444\" style=\"width:1.68pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:65.4pt\">ont une maturit\u00e9</span><span class=\"f charStyle-165dec60 ps17794\" style=\"width:152.5pt\"> comprise entre 1 et 12 mois et sont</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps33912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:87.3pt\">\u00e9valu\u00e9s au co\u00fbt amorti.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Afin de refl\u00e9ter les besoins en tr\u00e9sorerie du Groupe, les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">financements court terme sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">nets de tr\u00e9sorerie sur op\u00e9rations de financement dans le</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.3pt\">Tableau des flux de tr\u00e9sorerie consolid\u00e9s.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.6pt\">L\u2019endettement financier net comprend l\u2019ensemble des dettes financi\u00e8res \u00e0 long terme, les financements \u00e0 court terme et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:102.59pt\">les concours bancaires (cf. </span><span class=\"f charStyle-165dec60 ps33926\" style=\"width:41.53pt\">Note 9.1.2.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33927\" style=\"width:314.46pt\">, page 431), sous d\u00e9duction du montant des pr\u00eats et autres actifs financiers \u00e0 long</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">terme, de la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie, ainsi que la juste valeur des instruments d\u00e9riv\u00e9s sur risque de change<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:209.36pt\">et sur risque de\u00a0taux associ\u00e9s \u00e0 l\u2019un de ces \u00e9l\u00e9ments (cf. </span><span class=\"f charStyle-165dec60 ps33928\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps33929\" style=\"width:68.06pt\">, pages 433 \u00e0 438).</span></div><div class=\"ps33996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Cette cat\u00e9gorie regroupe essentiellement les pr\u00eats \u00e0 long terme. Ils sont \u00e9valu\u00e9s selon la m\u00e9thode du co\u00fbt amorti</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps33997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">en\u00a0utilisant le taux d\u2019int\u00e9r\u00eat effectif. Ils figurent dans l\u2019\u00e9tat de la situation financi\u00e8re, sur la ligne \u00ab\u00a0Autres actifs financiers</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33998 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.07pt\">non courants\u00a0\u00bb.</span></div><div class=\"ps6626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">Ce poste est constitu\u00e9 de valeurs mobili\u00e8res de placement (de type OPCVM mon\u00e9taire et mon\u00e9taire court terme), de d\u00e9p\u00f4ts et</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:245.98pt\">placements sans risque \u00e0 tr\u00e8s court terme facilement mobilisables</span><span class=\"f charStyle-165dec60 ps34001\" style=\"width:235.3pt\"> ou cessibles ainsi que de liquidit\u00e9s sur des comptes courants</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38pt\">bancaires.</span></div><div class=\"ps5587 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:253.2pt\">Les \u00e9l\u00e9ments inclus dans ce poste sont qualifi\u00e9s d\u2019\u00e9quivalents de </span><span class=\"f charStyle-79bb7869 ps34004\" style=\"width:227.99pt\">tr\u00e9sorerie, car ils sont facilement convertibles en un montant</span><span class=\"f charStyle-79bb7869 ps1121\" style=\"width:1.79pt\"> </span></div><div class=\"ps34007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:23.25pt\">connu</span><span class=\"f charStyle-c709af45 ps34005\" style=\"width:3.66pt\"> </span><span class=\"f charStyle-165dec60 ps13790\" style=\"width:252.9pt\">de tr\u00e9sorerie, tout en \u00e9tant soumis \u00e0 un risque n\u00e9gligeable de </span><span class=\"f charStyle-79bb7869 ps34006\" style=\"width:201.52pt\">changement de valeur. Ces actifs financiers courants,</span><span class=\"f charStyle-79bb7869 ps639\" style=\"width:1.79pt\"> </span></div><div class=\"ps12079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:50.16pt\">comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34008\" style=\"width:420.15pt\"> \u00e0 la juste valeur par le r\u00e9sultat, sont d\u00e9tenus dans l\u2019optique de faire face aux besoins de tr\u00e9sorerie \u00e0 court terme.</span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span><span class=\"f charStyle-165dec60 ps34106\" style=\"width:1.96pt\"> </span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:86.54pt\">inf\u00e9rieures \u00e0 trois mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-517": {
   "value": "<div><div id=\"i2875f4fbc551449b952701acfd85d7df_946\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.1<span id=\"iaaab604da7aa4b348e9ac77525bcb9ff\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps1775\"><span style=\"display:inline-block;height:8.71pt;width:16.55pt\"></span></span><span class=\"ps29285\">M\u00e9thodes d'\u00e9valuation et j</span></span><span class=\"f charStyle-b11f9a65 ps32990\">uste valeur des actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps32992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.1.1<span id=\"i7056fe5c2bea48e5a1ab1bf56bc4141e\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps32991\"><span style=\"display:inline-block;height:8.22pt;width:11.96pt\"></span></span><span class=\"ps29285\">M\u00e9thodes d\u2019\u00e9valuation</span></span></div><div class=\"ps33159 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:215.25pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:24pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;border-right:0.5pt solid #ffffff;padding:0\"><div class=\"ps51 ss1444\"><div><div class=\"ps523 ss121\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps11426\">Valeur au bilan </span><span class=\"f charStyle-6bef0edd ps19256\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-6bef0edd ps32993\"> selon IFRS 9</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;border-left:0.5pt solid #ffffff;padding:0\"><div class=\"ps32995 ss77\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-6bef0edd ps32994\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss76\"><span class=\"f charStyle-6bef0edd ps9351\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps745 ss77\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-ae6044e9 ps32994\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss76\"><span class=\"f charStyle-ae6044e9 ps27393\">2024</span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss2078\"><div><div class=\"ps15630 ss698\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10475 ss1211\"><div><div class=\"ps4232 ss1016\"><span class=\"f charStyle-6bef0edd ps32996\">Co\u00fbt <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-6bef0edd ps3116\">amorti<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps32998 ss2079\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-6bef0edd ps22518\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss719\"><span class=\"f charStyle-6bef0edd ps32997\">par les autres </span></div><div class=\"ps4232 ss719\"><span class=\"f charStyle-6bef0edd ps13710\">\u00e9l\u00e9ments du <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss719\"><span class=\"f charStyle-6bef0edd ps9777\">r\u00e9sultat global<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #ffffff;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps4239 ss2080\"><div><div class=\"ps523 ss804\"><span class=\"f charStyle-6bef0edd ps9863\">Juste <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss804\"><span class=\"f charStyle-6bef0edd ps27332\">valeur</span></div><div class=\"ps10417 ss804\"><span class=\"f charStyle-6bef0edd ps22478\">par r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #ffffff;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps32999 ss1208\"><div><div class=\"ps4232 ss76\"><span class=\"f charStyle-6bef0edd ps27337\">Valeur<span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss76\"><span class=\"f charStyle-6bef0edd ps15639\">au bilan<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33000 ss1208\"><div><div class=\"ps4232 ss76\"><span class=\"f charStyle-ae6044e9 ps27337\">Valeur<span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss76\"><span class=\"f charStyle-ae6044e9 ps15639\">au bilan<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33001 ss2081\"><div><div class=\"ps91 ss698\"><span class=\"f charStyle-8747f844 ps10\">ACTIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31343 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Actifs financiers non courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22579 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placements long terme</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33003 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33005 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.85pt\"></span></span><span class=\"ps33004\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33007 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.49pt\"></span></span><span class=\"ps33006\">243<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33008 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.5pt\"></span></span><span class=\"ps28718\">272<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33009 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.24pt\"></span></span><span class=\"ps32324\">312<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33010 ss2081\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-2bf30bfd ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps511\">Pr\u00eats et cr\u00e9ances \u00e0 long terme (y compris int\u00e9r\u00eats courus)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33011 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.25pt\"></span></span><span class=\"ps17738\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33012 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33014 ss1862\"><div><div class=\"ps509 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33015 ss90\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.75pt\"></span></span><span class=\"ps31478\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33017 ss90\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.92pt\"></span></span><span class=\"ps33016\">25<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22675 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">D\u00e9p\u00f4ts et cautionnements</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33019 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.73pt\"></span></span><span class=\"ps33018\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33020 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33021 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33023 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.23pt\"></span></span><span class=\"ps33022\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33025 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.24pt\"></span></span><span class=\"ps33024\">34<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10539 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Autres actifs financiers non courants</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10543 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.66pt\"></span></span><span class=\"ps16504\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33026 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33027 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33029 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.16pt\"></span></span><span class=\"ps33028\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33031 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23968 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33032 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33033 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.96pt\"></span></span><span class=\"ps32624\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33034 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.69pt\"></span></span><span class=\"ps12739\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33036 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.46pt\"></span></span><span class=\"ps33035\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33038 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.91pt\"></span></span><span class=\"ps33037\">22<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24103 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33039 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33040 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33041 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33042 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33043 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8332 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Actifs sur retraite et engagements assimil\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33044 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33045 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.85pt\"></span></span><span class=\"ps33004\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33046 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33048 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.6pt\"></span></span><span class=\"ps33047\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33050 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.49pt\"></span></span><span class=\"ps33049\">31<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8335 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances clients<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33052 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.34pt\"></span></span><span class=\"ps33051\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33053 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33054 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33055 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.84pt\"></span></span><span class=\"ps25977\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33056 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.84pt\"></span></span><span class=\"ps25977\">2\u00a0656<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3516 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres actifs financiers courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11193 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33057 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33059 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.86pt\"></span></span><span class=\"ps33058\">65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33060 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33061 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.61pt\"></span></span><span class=\"ps31638\">65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33063 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.78pt\"></span></span><span class=\"ps33062\">37<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33064 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33065 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33066 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33067 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.96pt\"></span></span><span class=\"ps32355\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33069 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.46pt\"></span></span><span class=\"ps33068\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33071 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.2pt\"></span></span><span class=\"ps33070\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Int\u00e9r\u00eats courus et autres actifs financiers</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33072 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33073 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33075 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.1pt\"></span></span><span class=\"ps33074\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33076 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.6pt\"></span></span><span class=\"ps33047\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33078 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.94pt\"></span></span><span class=\"ps33077\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33079 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33080 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4318 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.27pt\"></span></span><span class=\"ps33081\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33082 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.77pt\"></span></span><span class=\"ps32689\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33083 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.07pt\"></span></span><span class=\"ps345\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2081\"><div><div class=\"ps91 ss698\"><span class=\"f charStyle-8747f844 ps10\">PASSIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps23717 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers non courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33085 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33086 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33087 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33088 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33089 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16737 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33090 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33091 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33092 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.21pt\"></span></span><span class=\"ps28476\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33093 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33094 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.16pt\"></span></span><span class=\"ps33028\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9890 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33095 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.23pt\"></span></span><span class=\"ps11467\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33096 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33097 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33098 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.73pt\"></span></span><span class=\"ps9877\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33100 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.35pt\"></span></span><span class=\"ps33099\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28702 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33103 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.4pt\"></span></span><span class=\"ps33102\">162<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33104 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33105 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33106 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.9pt\"></span></span><span class=\"ps28842\">162<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33107 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.71pt\"></span></span><span class=\"ps29964\">553<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28708 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne d'investissement)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33109 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.06pt\"></span></span><span class=\"ps33108\">444<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33110 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33111 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33112 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.56pt\"></span></span><span class=\"ps31150\">444<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33114 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.26pt\"></span></span><span class=\"ps33113\">540<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22817 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33116 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.76pt\"></span></span><span class=\"ps33115\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33117 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33118 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33119 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.26pt\"></span></span><span class=\"ps33113\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33120 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.96pt\"></span></span><span class=\"ps28883\">250<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10648 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33122 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.16pt\"></span></span><span class=\"ps33121\">879<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33123 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33124 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33126 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.66pt\"></span></span><span class=\"ps33125\">879<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33127 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.22pt\"></span></span><span class=\"ps29941\">763<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10649 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Dettes fournisseurs<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10652 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.41pt\"></span></span><span class=\"ps33128\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33129 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33130 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33132 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.91pt\"></span></span><span class=\"ps33131\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33133 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.96pt\"></span></span><span class=\"ps26136\">5\u00a0382<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28726 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres passifs financiers courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22718 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33134 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33135 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.42pt\"></span></span><span class=\"ps32201\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33136 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33138 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.17pt\"></span></span><span class=\"ps33137\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33139 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.94pt\"></span></span><span class=\"ps33077\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22721 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33140 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33141 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33143 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.7pt\"></span></span><span class=\"ps33142\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33144 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.2pt\"></span></span><span class=\"ps33070\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33145 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33146 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33147 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.16pt\"></span></span><span class=\"ps33121\">594<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33148 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33149 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33150 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.66pt\"></span></span><span class=\"ps33125\">594<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33151 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.72pt\"></span></span><span class=\"ps31095\">840<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33152 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33153 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33154 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33155 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.97pt\"></span></span><span class=\"ps29988\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33157 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.47pt\"></span></span><span class=\"ps33156\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33158 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.46pt\"></span></span><span class=\"ps33035\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.1.2<span id=\"ie74c6f16cded45ddb68faaaaa51e6189\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2082\"><span style=\"display:inline-block;height:8.22pt;width:10.28pt\"></span></span><span class=\"ps29285\">Estimation de la juste valeur</span></span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps33264 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2083\"><div><div class=\"ps28770 ss296\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33179 ss2084\"><div><div class=\"ps509 ss127\"><span class=\"f charStyle-6bef0edd ps33178\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24068 ss2084\"><div><div class=\"ps509 ss127\"><span class=\"f charStyle-ae6044e9 ps33180\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33182 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps33181\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps16723\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33184 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps33183\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps23121\">de march\u00e9</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps16601 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps3297\">Niveau<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29894 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps33181\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps16723\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16419 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps33183\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps23121\">de march\u00e9</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29897 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps3297\">Niveau<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">ACTIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalent de <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-a696f64a ps10\">tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33186 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33187 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33189 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33188\">1-2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33191 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.35pt\"></span></span><span class=\"ps33190\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33192 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.35pt\"></span></span><span class=\"ps33190\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33193 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Instruments financiers d\u00e9riv\u00e9s </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33195 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.17pt\"></span></span><span class=\"ps33194\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33196 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.17pt\"></span></span><span class=\"ps33194\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33198 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33200 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.95pt\"></span></span><span class=\"ps33199\">80<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33201 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.95pt\"></span></span><span class=\"ps33199\">80<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33202 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps772 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">PASSIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps773 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33203 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.01pt\"></span></span><span class=\"ps1960\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33204 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">4\u00a0128<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33205 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33207 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.63pt\"></span></span><span class=\"ps33206\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16843 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.31pt\"></span></span><span class=\"ps33208\">4\u00a0094<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33209 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps783 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33211 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.18pt\"></span></span><span class=\"ps33210\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33212 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.65pt\"></span></span><span class=\"ps531\">168<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16638 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33214 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.99pt\"></span></span><span class=\"ps33213\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33216 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.67pt\"></span></span><span class=\"ps33215\">563<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33217 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">europ\u00e9enne d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33219 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.84pt\"></span></span><span class=\"ps33218\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33220 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.96pt\"></span></span><span class=\"ps28665\">439<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33221 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33223 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.54pt\"></span></span><span class=\"ps33222\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33225 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.19pt\"></span></span><span class=\"ps33224\">519<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33226 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4601 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33227 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.54pt\"></span></span><span class=\"ps33222\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33228 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.79pt\"></span></span><span class=\"ps31565\">412<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33229 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33231 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.24pt\"></span></span><span class=\"ps33230\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33232 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.5pt\"></span></span><span class=\"ps28437\">251<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33233 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22992 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes financi\u00e8res \u00e0 long <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-a696f64a ps10\">terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33234 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">879<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33235 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">879<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33236 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33237 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">763<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33238 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">763<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33239 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32194 ss2087\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNTS COMPTABILIS\u00c9S <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss296\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a0CO\u00dbT\u00a0AMORTI</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33240 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.63pt\"></span></span><span class=\"ps28741\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33241 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.52pt\"></span></span><span class=\"ps27391\">6\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33242 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33243 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32pt\"></span></span><span class=\"ps31083\">6\u00a0190<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps3718 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33244 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">594<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33245 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">594<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33246 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33247 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37pt\"></span></span><span class=\"ps5559\">840<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33248 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37pt\"></span></span><span class=\"ps5559\">840<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33249 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26238 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33250 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">51<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33251 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">51<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33252 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33254 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.74pt\"></span></span><span class=\"ps33253\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33255 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.74pt\"></span></span><span class=\"ps33253\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33256 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23303 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Instruments financiers d\u00e9riv\u00e9s </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">passifs\u00a0</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33257 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33258 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33259 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33261 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.52pt\"></span></span><span class=\"ps33260\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33262 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.52pt\"></span></span><span class=\"ps33260\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33263 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps19728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps18897\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps33277\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps33278\" style=\"width:163.59pt\">, cet impact pour le Groupe est n\u00e9gligeable.</span></div><div class=\"ps34061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.4<span id=\"i9c9d10263c0442a8a1763b74476a7b26\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps8144\"><span style=\"display:inline-block;height:8.71pt;width:13.87pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span><span class=\"f charStyle-165dec60 ps34106\" style=\"width:1.96pt\"> </span></div><div class=\"ps14872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:481.2pt\">La responsabilit\u00e9 du recensement et de l\u2019\u00e9valuation des risques financiers rel\u00e8ve des entit\u00e9s op\u00e9rationnelles. En\u00a0revanche, la</span><span class=\"f charStyle-81993cb5 ps1231\" style=\"width:1.87pt\"> </span></div><div class=\"ps34110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:40.26pt\">couverture</span><span class=\"f charStyle-165dec60 ps34108\" style=\"width:12.03pt\"> et </span><span class=\"f charStyle-1abed7d4 ps34109\" style=\"width:428.94pt\">la gestion de ces risques par des produits d\u00e9riv\u00e9s est assur\u00e9e par la direction financi\u00e8re du Groupe pour le compte</span><span class=\"f charStyle-1abed7d4 ps1296\" style=\"width:1.93pt\"> </span></div><div class=\"ps26631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps275\" style=\"width:76pt\">des filiales expos\u00e9es.</span></div><div class=\"ps26632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">Lors des Comit\u00e9s mensuels de Tr\u00e9sorerie, les principaux risques et expositions sont examin\u00e9s, la mise en \u0153uvre des couvertures</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps26633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:390.59pt\">est act\u00e9e (conform\u00e9ment \u00e0 la strat\u00e9gie d\u00e9crite ci\u2011apr\u00e8s) et les r\u00e9sultats de ces couvertures sont analys\u00e9s.</span></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">Pour r\u00e9duire son exposition aux risques de march\u00e9, le Groupe utilise des instruments financiers d\u00e9riv\u00e9s dont les justes valeurs</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.42pt\">aux </span><span class=\"f charStyle-165dec60 ps17827\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34111\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps34112\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps34113\" style=\"width:71.59pt\"> sont les suivantes\u00a0:</span></div><div class=\"ps6896 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:63.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:33pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:33pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2133\"><div><div class=\"ps34114 ss188\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34117 ss2134\"><div><div class=\"ps34116 ss80\"><span class=\"f charStyle-55cd9955 ps34115\">Qualification <span class=\"f ps53\"> </span></span></div><div class=\"ps34114 ss80\"><span class=\"f charStyle-55cd9955 ps23262\">comptable</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34120 ss2135\"><div><div class=\"ps34116 ss1082\"><span class=\"f charStyle-d47d3658 ps34118\">Nominal </span></div><div class=\"ps34114 ss1082\"><span class=\"f charStyle-d47d3658 ps141\">achat\u00a0</span><span class=\"f charStyle-c006c061 ps34119\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34124 ss2135\"><div><div class=\"ps34116 ss1082\"><span class=\"f charStyle-b2b6bcc2 ps34121\">Nominal</span></div><div class=\"ps34114 ss1082\"><span class=\"f charStyle-b2b6bcc2 ps34122\">vente\u00a0</span><span class=\"f charStyle-99673b26 ps34123\"><span class=\"f ps53\"> </span><sup>(1)</sup></span><span class=\"f charStyle-b2b6bcc2 ps31170\"> <span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3739 ss2136\"><div><div class=\"ps34116 ss1016\"><span class=\"f charStyle-55cd9955 ps34125\">R\u00e9serves<span class=\"f ps53\"> </span></span></div><div class=\"ps34114 ss1016\"><span class=\"f charStyle-55cd9955 ps34126\">OCI<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34128 ss1229\"><div><div class=\"ps4496 ss696\"><span class=\"f charStyle-2d71864b ps34127\">Autres actifs <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss696\"><span class=\"f charStyle-2d71864b ps3480\">financiers</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34130 ss894\"><div><div class=\"ps4496 ss870\"><span class=\"f charStyle-2d71864b ps10626\">Autres passifs <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss870\"><span class=\"f charStyle-2d71864b ps34129\">financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30900 ss1602\"><div><div class=\"ps4496 ss379\"><span class=\"f charStyle-d606841d ps34131\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss379\"><span class=\"f charStyle-d606841d ps34132\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss1602\"><div><div class=\"ps4496 ss379\"><span class=\"f charStyle-2d71864b ps34131\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss379\"><span class=\"f charStyle-2d71864b ps16363\">2024</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34135 ss1269\"><div><div class=\"ps4496 ss1112\"><span class=\"f charStyle-e42585e9 ps34133\">Non <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss1112\"><span class=\"f charStyle-e42585e9 ps34134\">courant</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34137 ss279\"><div><div class=\"ps4498 ss61\"><span class=\"f charStyle-e42585e9 ps34136\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34138 ss2044\"><div><div class=\"ps4496 ss1084\"><span class=\"f charStyle-e42585e9 ps29092\">Non <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss1084\"><span class=\"f charStyle-e42585e9 ps16788\">courant</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34139 ss279\"><div><div class=\"ps4498 ss61\"><span class=\"f charStyle-e42585e9 ps34136\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34140 ss1602\"><div><div class=\"ps4498 ss379\"><span class=\"f charStyle-29e40c79 ps1427\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34141 ss1602\"><div><div class=\"ps4498 ss379\"><span class=\"f charStyle-e42585e9 ps1427\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps23243 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Contrats \u00e0 terme </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34142 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34143 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.81pt\"></span></span><span class=\"ps15878\">647<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34144 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.39pt\"></span></span><span class=\"ps10557\">(226)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34145 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.54pt\"></span></span><span class=\"ps31360\">46<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34146 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.59pt\"></span></span><span class=\"ps23545\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34148 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.49pt\"></span></span><span class=\"ps34147\">48<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34150 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34152 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.54pt\"></span></span><span class=\"ps34151\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34153 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.96pt\"></span></span><span class=\"ps26117\">46<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34154 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.27pt\"></span></span><span class=\"ps7588\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps522 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Contrats \u00e0 terme </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34155 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34156 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.83pt\"></span></span><span class=\"ps32261\">572<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34158 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.29pt\"></span></span><span class=\"ps34157\">(513)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34160 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34162 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34163 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.8pt\"></span></span><span class=\"ps535\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34164 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34166 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.2pt\"></span></span><span class=\"ps34165\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34168 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34170 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.59pt\"></span></span><span class=\"ps34169\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">CHANGE </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">OP\u00c9RATIONNEL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34173 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.9pt\"></span></span><span class=\"ps34172\">1\u00a0219<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34174 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.38pt\"></span></span><span class=\"ps22847\">(739)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34175 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.12pt\"></span></span><span class=\"ps9861\">46<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34176 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.35pt\"></span></span><span class=\"ps737\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34178 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.32pt\"></span></span><span class=\"ps34177\">53<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34179 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34181 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.78pt\"></span></span><span class=\"ps34180\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30941 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.85pt\"></span></span><span class=\"ps31258\">45<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30943 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.59pt\"></span></span><span class=\"ps34182\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34183 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34184 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.96pt\"></span></span><span class=\"ps3491\">1\u00a0046<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34186 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.68pt\"></span></span><span class=\"ps34185\">(1\u00a0046)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34187 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34188 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34190 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.96pt\"></span></span><span class=\"ps34189\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34192 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.81pt\"></span></span><span class=\"ps34191\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34193 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.02pt\"></span></span><span class=\"ps20783\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34194 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.04pt\"></span></span><span class=\"ps31539\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34195 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.81pt\"></span></span><span class=\"ps32160\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Contrats \u00e0 terme <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-12ac666e ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34196 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34198 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.81pt\"></span></span><span class=\"ps34197\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34200 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.46pt\"></span></span><span class=\"ps34199\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34201 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34202 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34204 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34205 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34206 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34208 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34209 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26428 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Cross currency </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34210 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34211 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.05pt\"></span></span><span class=\"ps3785\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34212 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.77pt\"></span></span><span class=\"ps3902\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34213 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34214 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34215 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34216 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34217 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34218 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34219 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11173 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">CHANGE </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34221 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.64pt\"></span></span><span class=\"ps34220\">1\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34223 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.52pt\"></span></span><span class=\"ps34222\">(1\u00a0094)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11178 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34224 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34225 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.51pt\"></span></span><span class=\"ps23465\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34226 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.36pt\"></span></span><span class=\"ps27245\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34227 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.35pt\"></span></span><span class=\"ps22516\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34229 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.87pt\"></span></span><span class=\"ps34228\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34230 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.44pt\"></span></span><span class=\"ps26213\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8749 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34231 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34233 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.22pt\"></span></span><span class=\"ps34232\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34234 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34235 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.11pt\"></span></span><span class=\"ps15673\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34236 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34237 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.11pt\"></span></span><span class=\"ps16600\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34238 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34239 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.51pt\"></span></span><span class=\"ps31004\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34240 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.53pt\"></span></span><span class=\"ps29931\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34242 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.79pt\"></span></span><span class=\"ps34241\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22685 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">MATI\u00c8RES </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">PREMI\u00c8RES</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34244 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.6pt\"></span></span><span class=\"ps34243\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34245 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.18pt\"></span></span><span class=\"ps3522\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34247 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.65pt\"></span></span><span class=\"ps34246\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34248 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34250 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.63pt\"></span></span><span class=\"ps34249\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34251 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34253 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.13pt\"></span></span><span class=\"ps34252\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34255 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.07pt\"></span></span><span class=\"ps34254\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34256 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.36pt\"></span></span><span class=\"ps1890\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23431 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34257 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34258 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34259 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34260 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34261 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34262 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34263 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34264 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34265 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34266 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.59pt\"></span></span><span class=\"ps34169\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34267 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34268 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps4529\">Fair value hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34269 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.25pt\"></span></span><span class=\"ps29036\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34271 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34272 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34274 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.07pt\"></span></span><span class=\"ps34273\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34275 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34276 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34277 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34278 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.07pt\"></span></span><span class=\"ps24124\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34279 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.05pt\"></span></span><span class=\"ps25685\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3586 ss2137\"><div><div class=\"ps1114 ss188\"><span class=\"f charStyle-12ac666e ps10\">Cross currency <span class=\"f ps53\"> </span></span></div><div class=\"ps1306 ss188\"><span class=\"f charStyle-12ac666e ps10\">swap<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34280 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34281 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.05pt\"></span></span><span class=\"ps3785\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34282 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.77pt\"></span></span><span class=\"ps3902\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34283 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34284 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34285 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34286 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34287 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.06pt\"></span></span><span class=\"ps31075\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34288 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34289 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34290 ss2144\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE TAUX</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34291 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.12pt\"></span></span><span class=\"ps23683\">622<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34292 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.63pt\"></span></span><span class=\"ps29148\">(622)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34293 ss1177\"><div><div class=\"ps523 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34295 ss1293\"><div><div class=\"ps523 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.85pt\"></span></span><span class=\"ps34294\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34296 ss2145\"><div><div class=\"ps523 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34297 ss2146\"><div><div class=\"ps523 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34299 ss2145\"><div><div class=\"ps523 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.61pt\"></span></span><span class=\"ps34298\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34300 ss397\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.87pt\"></span></span><span class=\"ps34228\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34301 ss397\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps26154 ss2148\"><div><div class=\"ps746 ss2147\"><span class=\"f charStyle-f573b8b5 ps10\">TOTAL INSTRUMENTS FINANCIERS D\u00c9RIV\u00c9S<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34303 ss1677\"><div><div class=\"ps746 ss1112\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.04pt\"></span></span><span class=\"ps34302\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34304 ss2143\"><div><div class=\"ps746 ss61\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.35pt\"></span></span><span class=\"ps22516\">86<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34306 ss1118\"><div><div class=\"ps746 ss1084\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.18pt\"></span></span><span class=\"ps34305\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34307 ss2143\"><div><div class=\"ps746 ss61\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.6pt\"></span></span><span class=\"ps33767\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34308 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">64<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34309 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.21pt\"></span></span><span class=\"ps18602\">37<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:241.76pt\">Les nominaux des instruments d\u00e9riv\u00e9s sont exprim\u00e9s en \u00e9quivalent euros.</span></div><div class=\"ps34311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de contrepartie bancaire<span id=\"i4e57b1fc075f4333857ffbf77214d0a5\"></span></span></div><div class=\"ps3054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.32pt\">Le Groupe traite ses instruments d\u00e9riv\u00e9s avec des</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps3008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:54.67pt\">\u00e9tablissements</span><span class=\"f charStyle-165dec60 ps34312\" style=\"width:174.6pt\"> bancaires de premier rang et r\u00e9alise un suivi</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps3009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.37pt\">r\u00e9gulier du risque de contrepartie.</span><span class=\"f charStyle-165dec60 ps34313\" style=\"width:1.96pt\"> </span></div><div class=\"ps34314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.1<span id=\"ie16a3f3bf3e8401cb4ae518ccdeafc12\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps19284\"><span style=\"display:inline-block;height:8.22pt;width:9.44pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de change</span></span></div><div class=\"ps34315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de change op\u00e9rationnel<span id=\"i2bbd139a823b4a69bb4a56a91ca93d4e\"></span></span></div><div class=\"ps34316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Les filiales du Groupe sont expos\u00e9es au risque de change</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dans le cadre de leurs activit\u00e9s industrielles et commerciales.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Ces risques et les couvertures aff\u00e9rentes sont suivis par la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:211.94pt\">Direction du Financement et de la Tr\u00e9sorerie du Groupe.</span><span class=\"f charStyle-165dec60 ps34319\" style=\"width:1.96pt\"> </span></div><div class=\"ps34321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">L\u2019exposition bilantielle (cr\u00e9ances et dettes non financi\u00e8res</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">inscrites au bilan en devises \u00e9trang\u00e8res) est couverte de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">fa\u00e7on syst\u00e9matique. Les couvertures des filiales sont</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">r\u00e9alis\u00e9es principalement aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re Valeo, qui</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">\u00e0 son tour couvre les positions nettes du Groupe aupr\u00e8s de</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:56.49pt\"><span style=\"background-color:inherit\">contreparties </span></span><span class=\"f charStyle-b26c2267 ps27780\" style=\"width:172.83pt\"><span style=\"background-color:inherit\">externes. Les produits d\u00e9riv\u00e9s de change</span></span><span class=\"f charStyle-b26c2267 ps431\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:88.96pt\"><span style=\"background-color:inherit\">correspondants n'\u00e9tant</span></span><span class=\"f charStyle-68ecf294 ps34327\" style=\"width:140.35pt\"><span style=\"background-color:inherit\"> pas d\u00e9sign\u00e9s dans une relation de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">couverture comptable sont qualifi\u00e9s d\u2019instruments de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19438 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps275\" style=\"width:30.37pt\"><span style=\"background-color:inherit\">trading </span></span><span class=\"f charStyle-68ecf294 ps34330\" style=\"width:110.3pt\"><span style=\"background-color:inherit\">d'un point de vue comptable.</span></span><span class=\"f charStyle-68ecf294 ps12083\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le Groupe couvre \u00e9galement sa marge op\u00e9rationnelle</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">contre le risque de change, sur un horizon budg\u00e9taire de</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">fa\u00e7on r\u00e9guli\u00e8re et sur un horizon contractuel de fa\u00e7on</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:111.94pt\"><span style=\"background-color:inherit\">exceptionnelle pour des c</span></span><span class=\"f charStyle-5bbe5a0c ps27771\" style=\"width:117.34pt\"><span style=\"background-color:inherit\">ontrats pr\u00e9cis significatifs. Les</span></span><span class=\"f charStyle-5bbe5a0c ps610\" style=\"width:1.66pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5bbe5a0c ps275\" style=\"width:143.23pt\"><span style=\"background-color:inherit\">principaux instruments de couverture </span></span><span class=\"f charStyle-68ecf294 ps34335\" style=\"width:86.05pt\"><span style=\"background-color:inherit\">auxquels le Groupe a</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:170.69pt\"><span style=\"background-color:inherit\">habituellement recours sont les achats et </span></span><span class=\"f charStyle-6b8e39ee ps34337\" style=\"width:58.64pt\"><span style=\"background-color:inherit\">ventes \u00e0 terme</span></span><span class=\"f charStyle-6b8e39ee ps412\" style=\"width:1.81pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6b8e39ee ps275\" style=\"width:216.7pt\"><span style=\"background-color:inherit\">fermes en devises. Dans ce cas, le Groupe applique</span></span><span class=\"f charStyle-68ecf294 ps34339\" style=\"width:12.6pt\"><span style=\"background-color:inherit\"> la</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:205.3pt\"><span style=\"background-color:inherit\">comptabilit\u00e9 de couverture de flux futurs de tr\u00e9sorerie.</span></span></div><div class=\"ps13143 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">Elle est d\u00e9termin\u00e9e par la technique de valorisation</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps13144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">suivante\u00a0: les flux de tr\u00e9sorerie futurs sont calcul\u00e9s en</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">utilisant les cours de change \u00e0 terme \u00e0 la date de cl\u00f4ture, et</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">sont actualis\u00e9s au taux d\u2019int\u00e9r\u00eat de la devise de valorisation.</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:177.36pt\"><span style=\"background-color:inherit\">Cette technique de valorisation est de niveau 2.</span></span></div><div class=\"ps5148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">Au </span></span><span class=\"f charStyle-165dec60 ps34342\" style=\"width:67.74pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps31597\" style=\"width:149.08pt\"><span style=\"background-color:inherit\">, la part inefficace li\u00e9e \u00e0 ces couvertures</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps5149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:173.68pt\"><span style=\"background-color:inherit\">est n\u00e9gligeable, comme au 31 d\u00e9cembre 2024.</span></span><span class=\"f charStyle-68ecf294 ps34343\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34344 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de change financier<span class=\"f ps53\"> </span><span id=\"ifa9c8a40627c475c9caa305c6b1a9456\"></span></span></div><div class=\"ps34345 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">La centralisation des exc\u00e9dents de tr\u00e9sorerie, les besoins de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">financement des filiales \u00e9trang\u00e8res et certaines op\u00e9rations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.54pt\">de </span><span class=\"f charStyle-81f42323 ps34347\" style=\"width:215.72pt\">financement exposent le Groupe \u00e0 un risque de change</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps34350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:31.25pt\">financier</span><span class=\"f charStyle-165dec60 ps34349\" style=\"width:198.07pt\"> (risque li\u00e9 \u00e0 la variation de valeur de dettes ou de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.15pt\">cr\u00e9ances </span><span class=\"f charStyle-81f42323 ps34351\" style=\"width:192.16pt\">financi\u00e8res libell\u00e9es en devises autres que la devise</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps34354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:47.16pt\">fonctionnelle</span><span class=\"f charStyle-165dec60 ps34353\" style=\"width:182.11pt\"> de l\u2019entit\u00e9 emprunteuse ou pr\u00eateuse). Ce risque</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps7248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.41pt\">de change est couvert essentiellement via des </span><span class=\"f charStyle-e8054d08 ps34355\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34356\" style=\"width:13.84pt\"> de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps7249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.12pt\">devises.</span></div><div class=\"ps34357 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe finance usuellement ses filiales dans leurs propres</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34358 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:229.31pt\">devises et se couvre syst\u00e9matiquement contre le risque de</span><span class=\"f charStyle-b2f078f6 ps460\" style=\"width:1.83pt\"> </span></div><div class=\"ps34360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:27.66pt\">change</span><span class=\"f charStyle-165dec60 ps34359\" style=\"width:55.01pt\"> qui en r\u00e9sulte.</span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Par ailleurs, les financements externes du Groupe sont, en</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">r\u00e8gle g\u00e9n\u00e9rale, libell\u00e9s en euros, notamment pour les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:211.55pt\">\u00e9missions obligataires sous programme EMTN (</span><span class=\"f charStyle-e8054d08 ps34361\" style=\"width:17.75pt\">Euro</span><span class=\"f charStyle-e8054d08 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:73.83pt\">Medium Term Note</span><span class=\"f charStyle-165dec60 ps34362\" style=\"width:4.05pt\">).</span></div><div class=\"ps34363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le gain latent de 2 millions d\u2019euros porte principalement sur</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:13.69pt\"><span style=\"background-color:inherit\">les </span></span><span class=\"f charStyle-bec71f61 ps34364\" style=\"width:24.07pt\"><span style=\"background-color:inherit\">swaps</span></span><span class=\"f charStyle-68ecf294 ps34365\" style=\"width:191.51pt\"><span style=\"background-color:inherit\"> de devises relatifs aux couvertures des comptes</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:124.82pt\"><span style=\"background-color:inherit\">courants et bancaires du Groupe.</span></span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition nette globale du Groupe<span id=\"i7f965bab3bbe488b8bb37f2d597fd955\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:272.27pt\">L\u2019exposition nette globale du Groupe (sur les positions bilantielles) au </span><span class=\"f charStyle-81993cb5 ps34368\" style=\"width:69.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81993cb5 ps34369\" style=\"width:139.42pt\">, bas\u00e9e sur les montants notionnels,</span><span class=\"f charStyle-81993cb5 ps1722\" style=\"width:1.87pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:47.45pt\">se\u00a0concentre</span><span class=\"f charStyle-165dec60 ps29032\" style=\"width:290.35pt\"> sur les principales devises suivantes (hors devises fonctionnelles des entit\u00e9s)\u00a0:</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss2150\"><div><div class=\"ps9316 ss2149\"><span class=\"f charStyle-6bef0edd ps34370\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34373 ss2151\"><div><div class=\"ps9316 ss970\"><span class=\"f charStyle-98f46611 ps34371\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34372\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9317 ss2152\"><div><div class=\"ps34374 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34375 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps28834\">USD<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34376 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps9334\">CNY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34377 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps29149\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34378 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps23388\">JPY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34379 ss2153\"><div><div class=\"ps9319 ss208\"><span class=\"f charStyle-6bef0edd ps16616\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps32314\">devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34381 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps34380\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34383 ss2154\"><div><div class=\"ps9321 ss970\"><span class=\"f charStyle-ae6044e9 ps34382\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34384 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs commerciaux expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34386 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.88pt\"></span></span><span class=\"ps34385\">(141)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34388 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.26pt\"></span></span><span class=\"ps34387\">(97)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34389 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.01pt\"></span></span><span class=\"ps30894\">(267)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34390 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.2pt\"></span></span><span class=\"ps31002\">(28)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34391 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.97pt\"></span></span><span class=\"ps31180\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34392 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">(552)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34394 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.3pt\"></span></span><span class=\"ps34393\">(587)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs financiers expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34395 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">(416)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34396 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.43pt\"></span></span><span class=\"ps24061\">(1\u00a0313)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34397 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">49<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34398 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">(153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34399 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">720<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34401 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.95pt\"></span></span><span class=\"ps34400\">(1\u00a0113)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34402 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.82pt\"></span></span><span class=\"ps30659\">(1\u00a0832)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE BRUTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34403 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.45pt\"></span></span><span class=\"ps33612\">(557)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25916 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.77pt\"></span></span><span class=\"ps34404\">(1\u00a0410)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34405 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.71pt\"></span></span><span class=\"ps11374\">(218)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34406 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.19pt\"></span></span><span class=\"ps3626\">(181)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34408 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.01pt\"></span></span><span class=\"ps34407\">701<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34410 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.96pt\"></span></span><span class=\"ps34409\">(1\u00a0665)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34412 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.11pt\"></span></span><span class=\"ps34411\">(2\u00a0419)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10856 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s de change </span><span class=\"f charStyle-4da12822 ps34413\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34414 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.94pt\"></span></span><span class=\"ps14346\">549<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34416 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.47pt\"></span></span><span class=\"ps34415\">1\u00a0386<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34417 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.23pt\"></span></span><span class=\"ps10533\">(38)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34418 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">177<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34419 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.17pt\"></span></span><span class=\"ps23605\">(741)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34420 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.37pt\"></span></span><span class=\"ps4556\">1\u00a0333<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34422 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.81pt\"></span></span><span class=\"ps34421\">2\u00a0200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34423 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE NETTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34425 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.07pt\"></span></span><span class=\"ps34424\">(8)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34426 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.44pt\"></span></span><span class=\"ps11138\">(24)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34428 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.37pt\"></span></span><span class=\"ps34427\">(256)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34429 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.86pt\"></span></span><span class=\"ps3374\">(4)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34431 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.77pt\"></span></span><span class=\"ps34430\">(40)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34433 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.72pt\"></span></span><span class=\"ps34432\">(332)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34434 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.39pt\"></span></span><span class=\"ps29596\">(219)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.07pt\">hors instruments d\u00e9riv\u00e9s de couverture de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34439 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:53.56pt\">au 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34438\" style=\"width:15.97pt\">2024</span></div><div class=\"ps34440 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.18pt\">Dans le tableau ci-dessus, la colonne libell\u00e9e EUR correspond \u00e0 l\u2019exposition nette euro des entreprises du Groupe dont la</span><span class=\"f charStyle-165dec60 ps1225\" style=\"width:1.96pt\"> </span></div><div class=\"ps34441 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro. Il existe notamment une exposition des filiales localis\u00e9es en Europe centrale et dans le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:281.57pt\">bassin m\u00e9diterran\u00e9en, qui se financent en euros aupr\u00e8s de la soci\u00e9t\u00e9 Valeo.</span><span class=\"f charStyle-165dec60 ps19744\" style=\"width:1.96pt\"> </span></div><div class=\"ps34443 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-ebecb6c1 ps275\">Analyse de sensibilit\u00e9 de l\u2019exposition nette au risque de change<span id=\"id807047dcfdb40f4ab8040cb86a3265b\"></span></span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.18pt\"><span style=\"background-color:inherit\">Les cours de change retenus pour le dollar am\u00e9ricain, pour le yen japonais et pour le renminbi chinois s\u2019\u00e9tablissent</span></span><span class=\"f charStyle-68ecf294 ps1225\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:209.44pt\"><span style=\"background-color:inherit\">respectivement pour 1 euro \u00e0 1,175, 184,09 et 8,2262 au\u00a0</span></span><span class=\"f charStyle-165dec60 ps27923\" style=\"width:68.84pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34444\" style=\"width:202.97pt\"><span style=\"background-color:inherit\"> contre 1,0389 pour le dollar am\u00e9ricain, 163,06 pour le</span></span><span class=\"f charStyle-68ecf294 ps719\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:189.02pt\"><span style=\"background-color:inherit\">yen japonais et 7,5833 pour le renminbi chinois au </span></span><span class=\"f charStyle-165dec60 ps34445\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps34446\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:151.5pt\">Une appr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps34447\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34448\" style=\"width:26.39pt\"> et au </span><span class=\"f charStyle-165dec60 ps34449\" style=\"width:70.49pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps34450\" style=\"width:163.11pt\"> par rapport \u00e0 ces devises aurait les effets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:293.04pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34462 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps10311 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-98f46611 ps25704\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34452\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2157\"><div><div class=\"ps16333 ss666\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10314 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps8015 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-873f2209 ps34454\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-98f46611 ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-d93fd2c0 ps34454\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32820 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34455 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au yen japonais<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32827 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34456 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.15pt\"></span></span><span class=\"ps34457\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-044fe383 ps10\">Exposition au renminbi chinois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32835 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34458 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.16pt\"></span></span><span class=\"ps28393\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition \u00e0 l'euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32844 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.91pt\"></span></span><span class=\"ps27904\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34459 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.14pt\"></span></span><span class=\"ps27880\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11367 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32852 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.12pt\"></span></span><span class=\"ps34460\">(22)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34461 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">(3)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(19)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.55pt\"></span></span><span class=\"ps11842\">(5)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">les chiffres pr\u00e9sent\u00e9s correspondent \u00e0 la sensibilit\u00e9 des autres \u00e9l\u00e9ments du r\u00e9sultat global li\u00e9e \u00e0 une \u00e9volution des instruments de couverture</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps34464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:125.23pt\">de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34465 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:69.53pt\">au 31 d\u00e9cembre 2024</span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Pour les besoins de ces analyses, toutes les autres variables,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">en particulier les taux d\u2019int\u00e9r\u00eats, sont suppos\u00e9es rester</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.01pt\">Une d\u00e9pr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps9638\" style=\"width:68.38pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34468\" style=\"width:14.92pt\"> par</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">rapport \u00e0 ces devises aurait l\u2019effet inverse en faisant</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">l\u2019hypoth\u00e8se que toutes les autres variables restent</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps19803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les effets des variations des taux de change sur la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">conversion en euro du montant des actifs nets sont refl\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:180.96pt\">dans les capitaux propres consolid\u00e9s du Groupe.</span></div><div class=\"ps12401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">De nombreuses entit\u00e9s du Groupe sont situ\u00e9es hors de la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34469 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">zone euro. La devise de pr\u00e9sentation des \u00e9tats financiers de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34470 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Valeo \u00e9tant l'euro, les \u00e9tats financiers de ses filiales sont</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34471 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">convertis en euros pour la pr\u00e9paration des \u00e9tats financiers</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34472 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">consolid\u00e9s. Dans le cadre de sa gestion du risque de change,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">le Groupe consid\u00e8re que ses investissements dans ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s \u00e9trang\u00e8res sont permanents. Les effets des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">fluctuations des taux de change sur la conversion des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps18064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">montants nets des actifs en euros sont refl\u00e9t\u00e9s dans la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps18065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:147.83pt\">situation nette consolid\u00e9e de la soci\u00e9t\u00e9.</span></div><div class=\"ps34473 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Par ailleurs, les op\u00e9rations de financements entre deux</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">entit\u00e9s du Groupe ayant des devises fonctionnelles</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">diff\u00e9rentes sont de nature \u00e0\u00a0 exposer le r\u00e9sultat de Valeo au</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">risque de change. Pour se pr\u00e9munir contre ce risque, le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe peut \u00eatre amen\u00e9 \u00e0 contracter des instruments</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u00e9riv\u00e9s. Les op\u00e9rations de financement intragroupes faisant</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps15322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l\u2019objet d\u2019une \u00e9limination dans les comptes consolid\u00e9s du</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps15323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Groupe, les variations de valeur de ces instruments de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">couverture sont susceptibles d\u2019avoir une incidence sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps15325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:112.38pt\">l\u2019endettement net du Groupe.</span><span class=\"f charStyle-165dec60 ps34479\" style=\"width:1.96pt\"> </span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s de change<span id=\"ifd1a9b59195e44118cc2cd75d31ddeef\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.33pt\">Les cours de cl\u00f4ture de la Banque centrale europ\u00e9enne (BCE) et les taux <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps34480\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps34481\" style=\"width:13.92pt\"> au </span><span class=\"f charStyle-165dec60 ps34482\" style=\"width:68pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34483\" style=\"width:92.95pt\"> ont \u00e9t\u00e9 retenus pour les</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.9pt\">instruments financier</span><span class=\"f charStyle-68ecf294 ps34484\" style=\"width:76.2pt\"><span style=\"background-color:inherit\">s relatifs au change :</span></span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></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><td style=\"padding:0;width:44.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34489 ss2158\"><div><div class=\"ps34486 ss1241\"><span class=\"f charStyle-6bef0edd ps34485\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss1241\"><span class=\"f charStyle-6bef0edd ps34487\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps32073 ss1461\"><div><div class=\"ps509 ss1458\"><span class=\"f charStyle-6bef0edd ps34490\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps23157 ss2159\"><div><div class=\"ps34488 ss387\"><span class=\"f charStyle-6bef0edd ps29952\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34491 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps11418\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34493 ss2161\"><div><div class=\"ps509 ss2160\"><span class=\"f charStyle-ae6044e9 ps34492\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps18555 ss1338\"><div><div class=\"ps509 ss1241\"><span class=\"f charStyle-ae6044e9 ps4515\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2163\"><div><div class=\"ps16333 ss2162\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34494 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps14424\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34495 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34298\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13681 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34496\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34497 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps10154\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34499 ss1291\"><div><div class=\"ps509 ss1241\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps34498\">2031</span><span class=\"f charStyle-98f46611 ps28741\"> et </span></div><div class=\"ps523 ss1241\"><span class=\"f charStyle-98f46611 ps16621\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2164\"><div><div class=\"ps15656 ss2162\"><span class=\"f charStyle-044fe383 ps10\">Contrats de change \u00e0 </span></div><div class=\"ps13845 ss2162\"><span class=\"f charStyle-044fe383 ps10\">terme utilis\u00e9s comme </span></div><div class=\"ps15657 ss2162\"><span class=\"f charStyle-044fe383 ps10\">couverture\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16837 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34500 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.97pt\"></span></span><span class=\"ps9752\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34502 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.7pt\"></span></span><span class=\"ps34501\">53<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34503 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.21pt\"></span></span><span class=\"ps26757\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34505 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34506 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34507 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34508 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34509 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34510 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34511 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34512 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34513 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34514 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34515 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34516 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34518 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.39pt\"></span></span><span class=\"ps34517\">(9)</span></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss2169\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-373e86b9 ps10\">Swaps</span><span class=\"f charStyle-044fe383 ps9416\"> de devise utilis\u00e9s </span></div><div class=\"ps34519 ss2162\"><span class=\"f charStyle-044fe383 ps10\">comme couverture :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26205 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34520 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34521 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34522 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34523 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34524 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34525 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34526 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34527 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.15pt\"></span></span><span class=\"ps10935\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34529 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34530 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34531 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34532 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34533 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34534 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34535 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34536 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.03pt\"></span></span><span class=\"ps358\">(13)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34537 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.2<span id=\"ied6f756cc13447c88d404fc067ae2977\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps21101\"><span style=\"display:inline-block;height:8.22pt;width:7.76pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s mati\u00e8res </span></span></div><div class=\"ps34538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">(m\u00e9taux\u00a0non\u00a0ferreux)</span></div><div class=\"ps34539 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de mati\u00e8res premi\u00e8res<span id=\"i5e94a017c5bf4069a11a3c272f74f99a\"></span></span></div><div class=\"ps633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe g\u00e8re son exposition aux mati\u00e8res premi\u00e8res en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">mettant en place, chaque fois que cela est possible, des</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4042 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.8pt\">clauses </span><span class=\"f charStyle-81f42323 ps34540\" style=\"width:197.47pt\">d\u2019indexation de ses prix de vente dans les contrats</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps4044 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:51.47pt\">commerciaux.</span><span class=\"f charStyle-165dec60 ps34541\" style=\"width:177.86pt\"> C\u2019est notamment le cas pour les m\u00e9taux non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">ferreux et l\u2019acier pour lesquels ces clauses couvrent plus de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4049 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:73.47pt\">80% de l\u2019exposition.</span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">L\u2019exposition aux m\u00e9taux non ferreux, cot\u00e9s principalement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.6pt\">sur le </span><span class=\"f charStyle-e8054d08 ps34542\" style=\"width:101.5pt\">London Metal Exchange </span><span class=\"f charStyle-165dec60 ps34543\" style=\"width:64.03pt\">(LME) et sur le </span><span class=\"f charStyle-e8054d08 ps34544\" style=\"width:37.12pt\">Shanghai</span><span class=\"f charStyle-e8054d08 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:71.68pt\">Futures Exchange</span><span class=\"f charStyle-165dec60 ps11708\" style=\"width:157.63pt\">, ainsi que, dans une moindre mesure,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">l'exposition au propyl\u00e8ne, sont couvertes aupr\u00e8s de banques</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de premier rang au travers d\u2019instruments d\u00e9riv\u00e9s de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">couverture. L\u2019objet de ces couvertures est de limiter l\u2019impact</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">des variations de prix de ces mati\u00e8res premi\u00e8res sur les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9sultats du Groupe et d\u2019offrir le temps n\u00e9cessaire \u00e0 Valeo</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">pour n\u00e9gocier en cons\u00e9quence des hausses de prix aupr\u00e8s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34548 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">de ses clients.\u00a0Les expositions r\u00e9sultant d\u2019indexations des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">prix de vente sur des p\u00e9riodes diff\u00e9rentes de celles pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps11996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">dans les contrats achats de mati\u00e8res premi\u00e8res font</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps11997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:126.11pt\">\u00e9galement l\u2019objet de couvertures.</span></div><div class=\"ps34550 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Les couvertures sont r\u00e9alis\u00e9es via des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">sans livraison de sous-jacent physique (essentiellement des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps12000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34552\" style=\"width:205.23pt\"> sur le cours moyen mensuel). Ces op\u00e9rations sont</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps12001 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">qualifi\u00e9es de couvertures de flux de tr\u00e9sorerie au sens de la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.35pt\">norme IFRS 9.</span></div><div class=\"ps29481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">L\u2019acier, la plupart des plastiques et les terres rares ne</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">peuvent pas faire l\u2019objet de couvertures \u00e0 terme sur les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">march\u00e9s financiers car ces mati\u00e8res ne sont pas cot\u00e9es sur</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.33pt\">un march\u00e9 organis\u00e9.</span></div><div class=\"ps29488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">La part relative des stocks dans l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps21741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">financi\u00e8re du Groupe est peu influenc\u00e9e par la variation du</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">prix des mati\u00e8res premi\u00e8res compte tenu de leur rotation</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">rapide et de l\u2019optimisation des flux logistiques qui en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.3pt\">r\u00e9duisent le montant.</span></div><div class=\"ps16325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.76pt\">Les volumes couverts de m\u00e9taux non ferreux en fin de p\u00e9riode s\u2019\u00e9tablissent aux </span><span class=\"f charStyle-165dec60 ps34555\" style=\"width:70.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34556\" style=\"width:14.55pt\"> et </span><span class=\"f charStyle-165dec60 ps34557\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34558\" style=\"width:58.02pt\"> de la mani\u00e8re</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34559 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante\u00a0:</span></div><div class=\"ps34568 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en tonnes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Aluminium<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">41\u00a0213<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.05pt\"></span></span><span class=\"ps34561\">44\u00a0483<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aluminium 2</span><span class=\"f charStyle-4da12822 ps34562\"><sup>e</sup></span><span class=\"f charStyle-044fe383 ps34563\"> fusion</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">10\u00a0513<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.86pt\"></span></span><span class=\"ps34564\">9\u00a0600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cuivre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.5pt\"></span></span><span class=\"ps34565\">10\u00a0309<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.47pt\"></span></span><span class=\"ps34566\">11\u00a0326<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.13pt\"></span></span><span class=\"ps34567\">62\u00a0035<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.03pt\"></span></span><span class=\"ps24079\">65\u00a0409<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Les produits d\u00e9riv\u00e9s sur m\u00e9taux de base utilis\u00e9s par le</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:36.01pt\"><span style=\"background-color:inherit\">Groupe s</span></span><span class=\"f charStyle-b26c2267 ps34569\" style=\"width:193.25pt\"><span style=\"background-color:inherit\">ont qualifi\u00e9s de couverture de flux de tr\u00e9sorerie.</span></span><span class=\"f charStyle-b26c2267 ps410\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:56.36pt\"><span style=\"background-color:inherit\">Pour l\u2019exercice </span></span><span class=\"f charStyle-68ecf294 ps34570\" style=\"width:28.13pt\"><span style=\"background-color:inherit\">clos au </span></span><span class=\"f charStyle-165dec60 ps34571\" style=\"width:67.62pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34572\" style=\"width:77.19pt\"><span style=\"background-color:inherit\">, un gain latent de 15</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">millions d'euros li\u00e9 aux couvertures en place est comptabilis\u00e9</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.95pt\"><span style=\"background-color:inherit\">dans les Autres \u00e9l\u00e9ments du r\u00e9sultat global.</span></span></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">La perte latente de 3 millions d\u2019euros comptabilis\u00e9e dans les</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:156.71pt\">Autres \u00e9l\u00e9ments du r\u00e9sultat global au </span><span class=\"f charStyle-165dec60 ps34573\" style=\"width:72.61pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">relatif aux couvertures en place a \u00e9t\u00e9 enti\u00e8rement reclass\u00e9e</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.94pt\">en r\u00e9sultat op\u00e9rationnel en </span><span class=\"f charStyle-165dec60 ps34574\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34575\" style=\"width:1.59pt\">.</span></div><div class=\"ps34576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 des couvertures en vie au 31 d\u00e9cembre 2025 <span id=\"i97288b4385f944e49abf2157435a6ea3\"></span></span></div><div class=\"ps34579 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:207.87pt\">Une hausse de 10\u00a0% des cours \u00e0 terme des m\u00e9taux aux </span><span class=\"f charStyle-49b068b5 ps13902\" style=\"width:67.04pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-49b068b5 ps34577\" style=\"width:12.27pt\"> et </span><span class=\"f charStyle-49b068b5 ps4176\" style=\"width:18.01pt\">2024</span><span class=\"f charStyle-49b068b5 ps34578\" style=\"width:176.07pt\"> aurait les impacts suivants sur le r\u00e9sultat et les</span><span class=\"f charStyle-49b068b5 ps689\" style=\"width:1.86pt\"> </span></div><div class=\"ps34581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:33.29pt\">capitaux </span><span class=\"f charStyle-165dec60 ps34580\" style=\"width:85.56pt\">propres, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34588 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:90pt\"></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:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps3695 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps11003\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34582 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps10032\">Gains/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2020\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une hausse de 10 % </span></div><div class=\"ps748 ss762\"><span class=\"f charStyle-044fe383 ps10\">des\u00a0cours \u00e0 terme des m\u00e9taux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34584 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34586 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:77.21pt\"></span></span><span class=\"ps34585\">12<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16366 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.5pt\"></span></span><span class=\"ps34587\">10<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:375.05pt\">, une baisse de 10 % des cours \u00e0 terme des m\u00e9taux aurait un impact d\u00e9favorable du m\u00eame montant.</span></div><div class=\"ps34591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:353.5pt\">Pour les besoins de cette analyse, toutes les autres variables sont suppos\u00e9es rester constantes.</span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s mati\u00e8res<span id=\"i5d6c314b0abd4d5091fcf36884542372\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:79.4pt\">Les cours \u00e0 terme du </span><span class=\"f charStyle-8ab43435 ps34592\" style=\"width:91.01pt\">London Metal Exchange</span><span class=\"f charStyle-53279637 ps34593\" style=\"width:37.06pt\"> (LME) du </span><span class=\"f charStyle-53279637 ps34594\" style=\"width:66.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-53279637 ps34595\" style=\"width:207.67pt\"> ont \u00e9t\u00e9 utilis\u00e9s pour \u00e9tablir les \u00e9ch\u00e9ances contractuelles</span><span class=\"f charStyle-53279637 ps455\" style=\"width:1.85pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:30.27pt\">relatives</span><span class=\"f charStyle-165dec60 ps13762\" style=\"width:82.9pt\"> aux d\u00e9riv\u00e9s mati\u00e8res :</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:66pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32207 ss2172\"><div><div class=\"ps34486 ss2067\"><span class=\"f charStyle-6bef0edd ps25857\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss2067\"><span class=\"f charStyle-6bef0edd ps34596\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps13831 ss2174\"><div><div class=\"ps509 ss2173\"><span class=\"f charStyle-6bef0edd ps34597\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9972 ss2175\"><div><div class=\"ps34488 ss637\"><span class=\"f charStyle-6bef0edd ps13199\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34599 ss2176\"><div><div class=\"ps9325 ss637\"><span class=\"f charStyle-ae6044e9 ps34598\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34601 ss2178\"><div><div class=\"ps509 ss2177\"><span class=\"f charStyle-ae6044e9 ps34600\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34582 ss1116\"><div><div class=\"ps509 ss637\"><span class=\"f charStyle-ae6044e9 ps10060\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34603 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34602\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34604 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps3800\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34606 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34605\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34608 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34607\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss638\"><div><div class=\"ps509 ss637\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps17690\">2031</span><span class=\"f charStyle-98f46611 ps34609\"> et </span></div><div class=\"ps523 ss637\"><span class=\"f charStyle-98f46611 ps400\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s mati\u00e8res :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34610 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.05pt\"></span></span><span class=\"ps30356\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34612 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34613 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34614 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34615 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34616 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34617 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34618 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34620 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.45pt\"></span></span><span class=\"ps34619\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34622 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34623 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34624 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34625 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34626 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34627 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34628 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34630 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.3<span id=\"i3b53baccdf014b5d95fd02b7048bdcc7\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34629\"><span style=\"display:inline-block;height:8.22pt;width:7.74pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de taux d\u2019int\u00e9r\u00eats</span></span></div><div class=\"ps34631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de taux d\u2019int\u00e9r\u00eats<span id=\"ia2409fd65f9048dc93cab92c5820a734\"></span></span></div><div class=\"ps872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:113.58pt\">Le Groupe peut utiliser des </span><span class=\"f charStyle-bed55b1c ps34632\" style=\"width:23.72pt\">swaps</span><span class=\"f charStyle-5064d44f ps34633\" style=\"width:91.97pt\"> de taux d\u2019int\u00e9r\u00eat pour</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps873 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:44.9pt\">convertir le </span><span class=\"f charStyle-165dec60 ps20548\" style=\"width:184.35pt\">taux contractuel de la dette en un taux variable</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps874 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.05pt\">ou fixe. La </span><span class=\"f charStyle-81f42323 ps22029\" style=\"width:189.21pt\">tr\u00e9sorerie et les \u00e9quivalents de tr\u00e9sorerie sont plac\u00e9s</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps875 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.31pt\">aussi bien \u00e0 taux fixe qu'\u00e0 taux variable. La dette financi\u00e8re est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:59.02pt\">majoritairement</span><span class=\"f charStyle-165dec60 ps34634\" style=\"width:62.27pt\"> \u00e0 taux fixe\u00a0: au </span><span class=\"f charStyle-165dec60 ps34635\" style=\"width:69.28pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps14259\" style=\"width:38.71pt\">, 82 % des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dettes financi\u00e8res \u00e0 long terme (part \u00e0 plus d\u2019un an) sont \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">taux fixe, ratio en augmentation par rapport \u00e0 celui de l'an</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.81pt\">dernier.</span></div><div class=\"ps2729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Une filiale japonaise du Groupe a mis en place un</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financement pour l'une de ses filiales en roupies</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps887 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">indon\u00e9siennes. Afin de se couvrir contre les risques de taux</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps888 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">et de change li\u00e9s \u00e0 ce financement, celle-ci a contract\u00e9 deux</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">cross currency swaps d'un montant notionnel de 4 milliards</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de yens japonais, adoss\u00e9s en terme de maturit\u00e9.Ces d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps16144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">ne sont pas d\u00e9sign\u00e9s dans une relation de couverture</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:110.87pt\">La tranche \u00e0 taux variable du </span><span class=\"f charStyle-e8054d08 ps34636\" style=\"width:50.59pt\">Schuldschein</span><span class=\"f charStyle-165dec60 ps34637\" style=\"width:67.8pt\"> \u00e9mis en avril 2019</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps16149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.04pt\">a </span><span class=\"f charStyle-81f42323 ps21418\" style=\"width:78.71pt\">\u00e9t\u00e9 couverte par un </span><span class=\"f charStyle-a702cc9d ps34638\" style=\"width:19.69pt\">swap</span><span class=\"f charStyle-81f42323 ps34639\" style=\"width:122.88pt\"> de taux qui \u00e9change le coupon</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps34645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.09pt\">variable</span><span class=\"f charStyle-165dec60 ps34640\" style=\"width:2.49pt\"> </span><span class=\"f charStyle-81f42323 ps34641\" style=\"width:69.71pt\">contre un taux fixe.</span><span class=\"f charStyle-81f42323 ps34642\" style=\"width:80.38pt\">\u00a0Cet instrument a \u00e9t\u00e9 </span><span class=\"f charStyle-81f42323 ps34643\" style=\"width:28.75pt\">d\u00e9sign\u00e9</span><span class=\"f charStyle-81f42323 ps34644\" style=\"width:19.82pt\"> dans</span><span class=\"f charStyle-81f42323 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:44.08pt\">une relation</span><span class=\"f charStyle-165dec60 ps34646\" style=\"width:78.76pt\"> de couverture type </span><span class=\"f charStyle-e8054d08 ps34647\" style=\"width:106.49pt\">cash-flow hedge, laquelle a</span><span class=\"f charStyle-e8054d08 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:58.14pt\">pris fin en 2025.</span></div><div class=\"ps12593 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:23.47pt\">Deux </span><span class=\"f charStyle-e8054d08 ps34648\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34649\" style=\"width:181.78pt\"> de taux d'int\u00e9r\u00eat pour un montant global de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">600\u00a0millions d'euros ont \u00e9t\u00e9 mis en place en novembre 2022</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps34651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pour variabiliser partiellement les int\u00e9r\u00eats de l'emprunt</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">EMTN de 750 millions d'euros \u00e9mis concomitamment. Ces</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">instruments ont \u00e9t\u00e9 d\u00e9sign\u00e9s dans une relation de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.36pt\">couverture de type </span><span class=\"f charStyle-e8054d08 ps1025\" style=\"width:61.61pt\">fair value hedge</span><span class=\"f charStyle-165dec60 ps34652\" style=\"width:1.59pt\">.</span></div><div class=\"ps34665 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss1944\"><div><div class=\"ps10309 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30404 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-ae6044e9 ps34653\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30405 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30407 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-373e86b9 ps10\">Swaps </span><span class=\"f charStyle-044fe383 ps31087\">de taux\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Emprunt en roupie indon\u00e9sienne </span><span class=\"f charStyle-4da12822 ps34656\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30414 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30416 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placement priv\u00e9 </span><span class=\"f charStyle-373e86b9 ps34657\">Schuldschein<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30417 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30419 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.69pt\"></span></span><span class=\"ps34658\">123<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383\"><span class=\"ps511\">EMTN \u00e9ch\u00e9ance 2027<span style=\"display:inline-block;height:7.26pt;width:27.06pt\"></span></span><span class=\"ps34659\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span><span class=\"ps34660\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30421 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30422 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.64pt\"></span></span><span class=\"ps34661\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.62pt\"></span></span><span class=\"ps34662\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30425 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.02pt\"></span></span><span class=\"ps34663\">622<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30427 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.37pt\"></span></span><span class=\"ps19146\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.13pt\"></span></span><span class=\"ps30949\">747<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.31pt\"></span></span><span class=\"ps34664\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:405.78pt\">Les nominaux des cross-currency swaps sont ceux de la jambe en JPY contre-valoris\u00e9s aux taux de change du 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34666\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps34667\" style=\"width:1.37pt\">.</span></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition n<span id=\"i545268519cd045d99c70f1f2a46a25f9\"></span></span><span class=\"f charStyle-aa33f529 ps34669\">ette du Groupe</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:481.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, la position nette du Groupe en mati\u00e8re de taux d\u2019int\u00e9r\u00eat, sur la base des valeurs nominales, s\u2019analyse</span></span><span class=\"f charStyle-61077b09 ps8343\" style=\"width:1.87pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:47.53pt\"><span style=\"background-color:inherit\">comme\u00a0suit\u00a0:</span></span></div><div class=\"ps34670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i7c1caff05389438598ff69b9c06bc3af\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps34754 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps34671\">Moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps16613\">Un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps96\">Plus de cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.71pt\"></span></span><span class=\"ps34683\">931<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.52pt\"></span></span><span class=\"ps34685\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.42pt\"></span></span><span class=\"ps16443\">3\u00a0703<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.53pt\"></span></span><span class=\"ps34687\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.83pt\"></span></span><span class=\"ps34689\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.09pt\"></span></span><span class=\"ps34692\">5\u00a0989<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.92pt\"></span></span><span class=\"ps6862\">602<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.17pt\"></span></span><span class=\"ps34694\">6\u00a0591<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Pr\u00eats<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-044fe383 ps10\">Tr\u00e9sorerie et \u00e9quivalents </span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.09pt\"></span></span><span class=\"ps34717\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE AVANT GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.56pt\"></span></span><span class=\"ps34722\">3\u00a0677<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.11pt\"></span></span><span class=\"ps34728\">5\u00a0508<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.25pt\"></span></span><span class=\"ps8726\">(1\u00a0450)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE APR\u00c8S GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.24pt\"></span></span><span class=\"ps34744\">3\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.03pt\"></span></span><span class=\"ps34746\">1\u00a0002<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.1pt\"></span></span><span class=\"ps34750\">4\u00a0908<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.52pt\"></span></span><span class=\"ps22390\">(850)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"iaa49409005a24d068ec1a1aab477abbb\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps34769 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps34671\"><span style=\"background-color:inherit\">Moins d'un an</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps16613\"><span style=\"background-color:inherit\">Un \u00e0 cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps96\"><span style=\"background-color:inherit\">Plus de cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-ae837db4 ps10\"><span style=\"background-color:inherit\">(en millions d'euros)</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Passifs financiers</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.31pt\"></span></span><span class=\"ps34756\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0910</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.78pt\"></span></span><span class=\"ps25365\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">272</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:11.14pt\"></span></span><span class=\"ps34757\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0413</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:10.05pt\"></span></span><span class=\"ps34758\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.8pt\"></span></span><span class=\"ps16452\">6\u00a0413<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\">649<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.05pt\"></span></span><span class=\"ps11361\">7\u00a0062<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Pr\u00eats</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(25)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Int\u00e9r\u00eats courus</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(32)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">Tr\u00e9sorerie et \u00e9quivalents </span></span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">de\u00a0tr\u00e9sorerie</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(788)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0365)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\">(788)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\">(2\u00a0365)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.39pt\"></span></span><span class=\"ps399\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE AVANT GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.85pt\"></span></span><span class=\"ps34763\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0093</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.29pt\"></span></span><span class=\"ps32226\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0388</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.95pt\"></span></span><span class=\"ps23575\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.43pt\"></span></span><span class=\"ps34764\">5\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.6pt\"></span></span><span class=\"ps10774\">(1\u00a0716)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Instruments d\u00e9riv\u00e9s</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:17.99pt\"></span></span><span class=\"ps34765\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">122</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.03pt\"></span></span><span class=\"ps25428\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(122)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(600)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">600</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.59pt\"></span></span><span class=\"ps34766\">(478)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.55pt\"></span></span><span class=\"ps4561\">478<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE APR\u00c8S GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.35pt\"></span></span><span class=\"ps26354\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0212</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.66pt\"></span></span><span class=\"ps10515\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0215)</span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.1pt\"></span></span><span class=\"ps34767\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0788</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">977</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.66pt\"></span></span><span class=\"ps34768\">5\u00a0090<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.15pt\"></span></span><span class=\"ps28900\">(1\u00a0238)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11713 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Les passifs financiers se composent principalement du nominal des dettes long terme, des financements court terme, des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps11714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.04pt\">dettes sur biens lou\u00e9s et des concours bancaires.</span></div><div class=\"ps34770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 au risque de taux<span id=\"ic9e6dd87aba1437f8fc6bf5d5d0cda90\"></span></span></div><div class=\"ps19414 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:240.37pt\">L\u2019essentiel de la dette financi\u00e8re \u00e0 long terme est \u00e0 taux fixe au </span><span class=\"f charStyle-165dec60 ps34771\" style=\"width:67.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34772\" style=\"width:173.03pt\">. Les dettes \u00e0 taux fixe comptabilis\u00e9es au co\u00fbt</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">amorti ne rentrent pas dans le calcul de la sensibilit\u00e9 au risque de taux. L\u2019exposition du Groupe au risque de taux est donc</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:158.14pt\">limit\u00e9e \u00e0\u00a0son endettement \u00e0 taux variable.</span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">Ainsi une hausse instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat appliqu\u00e9e aux actifs et passifs financiers \u00e0 taux variable aurait les impacts</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:466.13pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, apr\u00e8s prise en compte des produits d\u00e9riv\u00e9s et avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34789 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:177.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34774 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-6bef0edd ps28487\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34775 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-ae6044e9 ps29910\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2186\"><div><div class=\"ps16333 ss2185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34777 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34780 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34781 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34782 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2188\"><div><div class=\"ps746 ss2185\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une variation de +\u00a01 % des taux </span></div><div class=\"ps748 ss2185\"><span class=\"f charStyle-044fe383 ps10\">d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34784 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.89pt\"></span></span><span class=\"ps34783\">(9)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34785 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34787 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.5pt\"></span></span><span class=\"ps34786\">(12)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34788 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:389.62pt\">, une diminution instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat aurait eu un impact favorable du m\u00eame montant.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-516": {
   "value": "<div><div id=\"i2875f4fbc551449b952701acfd85d7df_946\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.1<span id=\"iaaab604da7aa4b348e9ac77525bcb9ff\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps1775\"><span style=\"display:inline-block;height:8.71pt;width:16.55pt\"></span></span><span class=\"ps29285\">M\u00e9thodes d'\u00e9valuation et j</span></span><span class=\"f charStyle-b11f9a65 ps32990\">uste valeur des actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps32992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.1.1<span id=\"i7056fe5c2bea48e5a1ab1bf56bc4141e\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps32991\"><span style=\"display:inline-block;height:8.22pt;width:11.96pt\"></span></span><span class=\"ps29285\">M\u00e9thodes d\u2019\u00e9valuation</span></span></div><div class=\"ps33159 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:215.25pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:24pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;border-right:0.5pt solid #ffffff;padding:0\"><div class=\"ps51 ss1444\"><div><div class=\"ps523 ss121\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps11426\">Valeur au bilan </span><span class=\"f charStyle-6bef0edd ps19256\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-6bef0edd ps32993\"> selon IFRS 9</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;border-left:0.5pt solid #ffffff;padding:0\"><div class=\"ps32995 ss77\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-6bef0edd ps32994\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss76\"><span class=\"f charStyle-6bef0edd ps9351\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps745 ss77\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-ae6044e9 ps32994\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss76\"><span class=\"f charStyle-ae6044e9 ps27393\">2024</span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss2078\"><div><div class=\"ps15630 ss698\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10475 ss1211\"><div><div class=\"ps4232 ss1016\"><span class=\"f charStyle-6bef0edd ps32996\">Co\u00fbt <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-6bef0edd ps3116\">amorti<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps32998 ss2079\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-6bef0edd ps22518\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss719\"><span class=\"f charStyle-6bef0edd ps32997\">par les autres </span></div><div class=\"ps4232 ss719\"><span class=\"f charStyle-6bef0edd ps13710\">\u00e9l\u00e9ments du <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss719\"><span class=\"f charStyle-6bef0edd ps9777\">r\u00e9sultat global<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #ffffff;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps4239 ss2080\"><div><div class=\"ps523 ss804\"><span class=\"f charStyle-6bef0edd ps9863\">Juste <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss804\"><span class=\"f charStyle-6bef0edd ps27332\">valeur</span></div><div class=\"ps10417 ss804\"><span class=\"f charStyle-6bef0edd ps22478\">par r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #ffffff;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps32999 ss1208\"><div><div class=\"ps4232 ss76\"><span class=\"f charStyle-6bef0edd ps27337\">Valeur<span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss76\"><span class=\"f charStyle-6bef0edd ps15639\">au bilan<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33000 ss1208\"><div><div class=\"ps4232 ss76\"><span class=\"f charStyle-ae6044e9 ps27337\">Valeur<span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss76\"><span class=\"f charStyle-ae6044e9 ps15639\">au bilan<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33001 ss2081\"><div><div class=\"ps91 ss698\"><span class=\"f charStyle-8747f844 ps10\">ACTIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31343 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Actifs financiers non courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22579 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placements long terme</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33003 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33005 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.85pt\"></span></span><span class=\"ps33004\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33007 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.49pt\"></span></span><span class=\"ps33006\">243<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33008 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.5pt\"></span></span><span class=\"ps28718\">272<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33009 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.24pt\"></span></span><span class=\"ps32324\">312<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33010 ss2081\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-2bf30bfd ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps511\">Pr\u00eats et cr\u00e9ances \u00e0 long terme (y compris int\u00e9r\u00eats courus)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33011 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.25pt\"></span></span><span class=\"ps17738\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33012 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33014 ss1862\"><div><div class=\"ps509 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33015 ss90\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.75pt\"></span></span><span class=\"ps31478\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33017 ss90\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.92pt\"></span></span><span class=\"ps33016\">25<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22675 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">D\u00e9p\u00f4ts et cautionnements</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33019 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.73pt\"></span></span><span class=\"ps33018\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33020 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33021 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33023 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.23pt\"></span></span><span class=\"ps33022\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33025 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.24pt\"></span></span><span class=\"ps33024\">34<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10539 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Autres actifs financiers non courants</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10543 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.66pt\"></span></span><span class=\"ps16504\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33026 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33027 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33029 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.16pt\"></span></span><span class=\"ps33028\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33031 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23968 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33032 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33033 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.96pt\"></span></span><span class=\"ps32624\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33034 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.69pt\"></span></span><span class=\"ps12739\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33036 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.46pt\"></span></span><span class=\"ps33035\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33038 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.91pt\"></span></span><span class=\"ps33037\">22<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24103 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33039 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33040 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33041 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33042 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33043 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8332 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Actifs sur retraite et engagements assimil\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33044 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33045 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.85pt\"></span></span><span class=\"ps33004\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33046 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33048 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.6pt\"></span></span><span class=\"ps33047\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33050 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.49pt\"></span></span><span class=\"ps33049\">31<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8335 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances clients<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33052 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.34pt\"></span></span><span class=\"ps33051\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33053 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33054 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33055 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.84pt\"></span></span><span class=\"ps25977\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33056 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.84pt\"></span></span><span class=\"ps25977\">2\u00a0656<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3516 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres actifs financiers courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11193 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33057 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33059 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.86pt\"></span></span><span class=\"ps33058\">65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33060 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33061 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.61pt\"></span></span><span class=\"ps31638\">65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33063 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.78pt\"></span></span><span class=\"ps33062\">37<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33064 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33065 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33066 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33067 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.96pt\"></span></span><span class=\"ps32355\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33069 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.46pt\"></span></span><span class=\"ps33068\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33071 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.2pt\"></span></span><span class=\"ps33070\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Int\u00e9r\u00eats courus et autres actifs financiers</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33072 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33073 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33075 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.1pt\"></span></span><span class=\"ps33074\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33076 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.6pt\"></span></span><span class=\"ps33047\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33078 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.94pt\"></span></span><span class=\"ps33077\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33079 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33080 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4318 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.27pt\"></span></span><span class=\"ps33081\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33082 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.77pt\"></span></span><span class=\"ps32689\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33083 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.07pt\"></span></span><span class=\"ps345\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2081\"><div><div class=\"ps91 ss698\"><span class=\"f charStyle-8747f844 ps10\">PASSIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps23717 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers non courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33085 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33086 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33087 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33088 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33089 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16737 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33090 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33091 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33092 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.21pt\"></span></span><span class=\"ps28476\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33093 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33094 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.16pt\"></span></span><span class=\"ps33028\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9890 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33095 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.23pt\"></span></span><span class=\"ps11467\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33096 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33097 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33098 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.73pt\"></span></span><span class=\"ps9877\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33100 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.35pt\"></span></span><span class=\"ps33099\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28702 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33103 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.4pt\"></span></span><span class=\"ps33102\">162<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33104 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33105 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33106 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.9pt\"></span></span><span class=\"ps28842\">162<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33107 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.71pt\"></span></span><span class=\"ps29964\">553<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28708 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne d'investissement)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33109 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.06pt\"></span></span><span class=\"ps33108\">444<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33110 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33111 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33112 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.56pt\"></span></span><span class=\"ps31150\">444<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33114 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.26pt\"></span></span><span class=\"ps33113\">540<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22817 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33116 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.76pt\"></span></span><span class=\"ps33115\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33117 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33118 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33119 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.26pt\"></span></span><span class=\"ps33113\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33120 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.96pt\"></span></span><span class=\"ps28883\">250<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10648 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33122 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.16pt\"></span></span><span class=\"ps33121\">879<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33123 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33124 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33126 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.66pt\"></span></span><span class=\"ps33125\">879<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33127 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.22pt\"></span></span><span class=\"ps29941\">763<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10649 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Dettes fournisseurs<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10652 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.41pt\"></span></span><span class=\"ps33128\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33129 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33130 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33132 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.91pt\"></span></span><span class=\"ps33131\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33133 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.96pt\"></span></span><span class=\"ps26136\">5\u00a0382<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28726 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres passifs financiers courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22718 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33134 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33135 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.42pt\"></span></span><span class=\"ps32201\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33136 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33138 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.17pt\"></span></span><span class=\"ps33137\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33139 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.94pt\"></span></span><span class=\"ps33077\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22721 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33140 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33141 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33143 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.7pt\"></span></span><span class=\"ps33142\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33144 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.2pt\"></span></span><span class=\"ps33070\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33145 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33146 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33147 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.16pt\"></span></span><span class=\"ps33121\">594<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33148 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33149 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33150 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.66pt\"></span></span><span class=\"ps33125\">594<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33151 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.72pt\"></span></span><span class=\"ps31095\">840<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33152 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33153 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33154 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33155 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.97pt\"></span></span><span class=\"ps29988\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33157 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.47pt\"></span></span><span class=\"ps33156\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33158 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.46pt\"></span></span><span class=\"ps33035\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.1.2<span id=\"ie74c6f16cded45ddb68faaaaa51e6189\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2082\"><span style=\"display:inline-block;height:8.22pt;width:10.28pt\"></span></span><span class=\"ps29285\">Estimation de la juste valeur</span></span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps33264 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2083\"><div><div class=\"ps28770 ss296\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33179 ss2084\"><div><div class=\"ps509 ss127\"><span class=\"f charStyle-6bef0edd ps33178\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24068 ss2084\"><div><div class=\"ps509 ss127\"><span class=\"f charStyle-ae6044e9 ps33180\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33182 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps33181\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps16723\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33184 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps33183\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps23121\">de march\u00e9</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps16601 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps3297\">Niveau<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29894 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps33181\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps16723\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16419 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps33183\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps23121\">de march\u00e9</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29897 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps3297\">Niveau<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">ACTIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalent de <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-a696f64a ps10\">tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33186 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33187 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33189 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33188\">1-2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33191 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.35pt\"></span></span><span class=\"ps33190\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33192 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.35pt\"></span></span><span class=\"ps33190\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33193 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Instruments financiers d\u00e9riv\u00e9s </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33195 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.17pt\"></span></span><span class=\"ps33194\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33196 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.17pt\"></span></span><span class=\"ps33194\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33198 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33200 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.95pt\"></span></span><span class=\"ps33199\">80<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33201 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.95pt\"></span></span><span class=\"ps33199\">80<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33202 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps772 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">PASSIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps773 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33203 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.01pt\"></span></span><span class=\"ps1960\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33204 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">4\u00a0128<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33205 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33207 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.63pt\"></span></span><span class=\"ps33206\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16843 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.31pt\"></span></span><span class=\"ps33208\">4\u00a0094<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33209 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps783 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33211 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.18pt\"></span></span><span class=\"ps33210\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33212 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.65pt\"></span></span><span class=\"ps531\">168<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16638 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33214 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.99pt\"></span></span><span class=\"ps33213\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33216 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.67pt\"></span></span><span class=\"ps33215\">563<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33217 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">europ\u00e9enne d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33219 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.84pt\"></span></span><span class=\"ps33218\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33220 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.96pt\"></span></span><span class=\"ps28665\">439<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33221 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33223 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.54pt\"></span></span><span class=\"ps33222\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33225 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.19pt\"></span></span><span class=\"ps33224\">519<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33226 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4601 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33227 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.54pt\"></span></span><span class=\"ps33222\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33228 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.79pt\"></span></span><span class=\"ps31565\">412<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33229 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33231 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.24pt\"></span></span><span class=\"ps33230\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33232 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.5pt\"></span></span><span class=\"ps28437\">251<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33233 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22992 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes financi\u00e8res \u00e0 long <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-a696f64a ps10\">terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33234 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">879<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33235 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">879<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33236 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33237 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">763<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33238 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">763<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33239 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32194 ss2087\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNTS COMPTABILIS\u00c9S <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss296\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a0CO\u00dbT\u00a0AMORTI</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33240 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.63pt\"></span></span><span class=\"ps28741\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33241 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.52pt\"></span></span><span class=\"ps27391\">6\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33242 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33243 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32pt\"></span></span><span class=\"ps31083\">6\u00a0190<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps3718 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33244 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">594<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33245 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">594<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33246 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33247 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37pt\"></span></span><span class=\"ps5559\">840<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33248 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37pt\"></span></span><span class=\"ps5559\">840<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33249 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26238 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33250 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">51<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33251 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">51<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33252 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33254 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.74pt\"></span></span><span class=\"ps33253\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33255 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.74pt\"></span></span><span class=\"ps33253\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33256 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23303 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Instruments financiers d\u00e9riv\u00e9s </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">passifs\u00a0</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33257 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33258 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33259 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33261 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.52pt\"></span></span><span class=\"ps33260\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33262 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.52pt\"></span></span><span class=\"ps33260\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33263 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps19728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps18897\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps33277\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps33278\" style=\"width:163.59pt\">, cet impact pour le Groupe est n\u00e9gligeable.</span></div><div class=\"ps34061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.4<span id=\"i9c9d10263c0442a8a1763b74476a7b26\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps8144\"><span style=\"display:inline-block;height:8.71pt;width:13.87pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span><span class=\"f charStyle-165dec60 ps34106\" style=\"width:1.96pt\"> </span></div><div class=\"ps14872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:481.2pt\">La responsabilit\u00e9 du recensement et de l\u2019\u00e9valuation des risques financiers rel\u00e8ve des entit\u00e9s op\u00e9rationnelles. En\u00a0revanche, la</span><span class=\"f charStyle-81993cb5 ps1231\" style=\"width:1.87pt\"> </span></div><div class=\"ps34110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:40.26pt\">couverture</span><span class=\"f charStyle-165dec60 ps34108\" style=\"width:12.03pt\"> et </span><span class=\"f charStyle-1abed7d4 ps34109\" style=\"width:428.94pt\">la gestion de ces risques par des produits d\u00e9riv\u00e9s est assur\u00e9e par la direction financi\u00e8re du Groupe pour le compte</span><span class=\"f charStyle-1abed7d4 ps1296\" style=\"width:1.93pt\"> </span></div><div class=\"ps26631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps275\" style=\"width:76pt\">des filiales expos\u00e9es.</span></div><div class=\"ps26632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">Lors des Comit\u00e9s mensuels de Tr\u00e9sorerie, les principaux risques et expositions sont examin\u00e9s, la mise en \u0153uvre des couvertures</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps26633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:390.59pt\">est act\u00e9e (conform\u00e9ment \u00e0 la strat\u00e9gie d\u00e9crite ci\u2011apr\u00e8s) et les r\u00e9sultats de ces couvertures sont analys\u00e9s.</span></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">Pour r\u00e9duire son exposition aux risques de march\u00e9, le Groupe utilise des instruments financiers d\u00e9riv\u00e9s dont les justes valeurs</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.42pt\">aux </span><span class=\"f charStyle-165dec60 ps17827\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34111\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps34112\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps34113\" style=\"width:71.59pt\"> sont les suivantes\u00a0:</span></div><div class=\"ps6896 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:63.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:33pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:33pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2133\"><div><div class=\"ps34114 ss188\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34117 ss2134\"><div><div class=\"ps34116 ss80\"><span class=\"f charStyle-55cd9955 ps34115\">Qualification <span class=\"f ps53\"> </span></span></div><div class=\"ps34114 ss80\"><span class=\"f charStyle-55cd9955 ps23262\">comptable</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34120 ss2135\"><div><div class=\"ps34116 ss1082\"><span class=\"f charStyle-d47d3658 ps34118\">Nominal </span></div><div class=\"ps34114 ss1082\"><span class=\"f charStyle-d47d3658 ps141\">achat\u00a0</span><span class=\"f charStyle-c006c061 ps34119\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34124 ss2135\"><div><div class=\"ps34116 ss1082\"><span class=\"f charStyle-b2b6bcc2 ps34121\">Nominal</span></div><div class=\"ps34114 ss1082\"><span class=\"f charStyle-b2b6bcc2 ps34122\">vente\u00a0</span><span class=\"f charStyle-99673b26 ps34123\"><span class=\"f ps53\"> </span><sup>(1)</sup></span><span class=\"f charStyle-b2b6bcc2 ps31170\"> <span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3739 ss2136\"><div><div class=\"ps34116 ss1016\"><span class=\"f charStyle-55cd9955 ps34125\">R\u00e9serves<span class=\"f ps53\"> </span></span></div><div class=\"ps34114 ss1016\"><span class=\"f charStyle-55cd9955 ps34126\">OCI<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34128 ss1229\"><div><div class=\"ps4496 ss696\"><span class=\"f charStyle-2d71864b ps34127\">Autres actifs <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss696\"><span class=\"f charStyle-2d71864b ps3480\">financiers</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34130 ss894\"><div><div class=\"ps4496 ss870\"><span class=\"f charStyle-2d71864b ps10626\">Autres passifs <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss870\"><span class=\"f charStyle-2d71864b ps34129\">financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30900 ss1602\"><div><div class=\"ps4496 ss379\"><span class=\"f charStyle-d606841d ps34131\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss379\"><span class=\"f charStyle-d606841d ps34132\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss1602\"><div><div class=\"ps4496 ss379\"><span class=\"f charStyle-2d71864b ps34131\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss379\"><span class=\"f charStyle-2d71864b ps16363\">2024</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34135 ss1269\"><div><div class=\"ps4496 ss1112\"><span class=\"f charStyle-e42585e9 ps34133\">Non <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss1112\"><span class=\"f charStyle-e42585e9 ps34134\">courant</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34137 ss279\"><div><div class=\"ps4498 ss61\"><span class=\"f charStyle-e42585e9 ps34136\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34138 ss2044\"><div><div class=\"ps4496 ss1084\"><span class=\"f charStyle-e42585e9 ps29092\">Non <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss1084\"><span class=\"f charStyle-e42585e9 ps16788\">courant</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34139 ss279\"><div><div class=\"ps4498 ss61\"><span class=\"f charStyle-e42585e9 ps34136\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34140 ss1602\"><div><div class=\"ps4498 ss379\"><span class=\"f charStyle-29e40c79 ps1427\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34141 ss1602\"><div><div class=\"ps4498 ss379\"><span class=\"f charStyle-e42585e9 ps1427\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps23243 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Contrats \u00e0 terme </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34142 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34143 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.81pt\"></span></span><span class=\"ps15878\">647<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34144 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.39pt\"></span></span><span class=\"ps10557\">(226)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34145 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.54pt\"></span></span><span class=\"ps31360\">46<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34146 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.59pt\"></span></span><span class=\"ps23545\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34148 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.49pt\"></span></span><span class=\"ps34147\">48<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34150 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34152 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.54pt\"></span></span><span class=\"ps34151\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34153 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.96pt\"></span></span><span class=\"ps26117\">46<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34154 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.27pt\"></span></span><span class=\"ps7588\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps522 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Contrats \u00e0 terme </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34155 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34156 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.83pt\"></span></span><span class=\"ps32261\">572<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34158 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.29pt\"></span></span><span class=\"ps34157\">(513)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34160 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34162 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34163 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.8pt\"></span></span><span class=\"ps535\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34164 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34166 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.2pt\"></span></span><span class=\"ps34165\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34168 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34170 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.59pt\"></span></span><span class=\"ps34169\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">CHANGE </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">OP\u00c9RATIONNEL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34173 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.9pt\"></span></span><span class=\"ps34172\">1\u00a0219<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34174 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.38pt\"></span></span><span class=\"ps22847\">(739)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34175 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.12pt\"></span></span><span class=\"ps9861\">46<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34176 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.35pt\"></span></span><span class=\"ps737\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34178 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.32pt\"></span></span><span class=\"ps34177\">53<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34179 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34181 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.78pt\"></span></span><span class=\"ps34180\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30941 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.85pt\"></span></span><span class=\"ps31258\">45<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30943 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.59pt\"></span></span><span class=\"ps34182\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34183 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34184 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.96pt\"></span></span><span class=\"ps3491\">1\u00a0046<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34186 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.68pt\"></span></span><span class=\"ps34185\">(1\u00a0046)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34187 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34188 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34190 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.96pt\"></span></span><span class=\"ps34189\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34192 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.81pt\"></span></span><span class=\"ps34191\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34193 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.02pt\"></span></span><span class=\"ps20783\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34194 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.04pt\"></span></span><span class=\"ps31539\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34195 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.81pt\"></span></span><span class=\"ps32160\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Contrats \u00e0 terme <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-12ac666e ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34196 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34198 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.81pt\"></span></span><span class=\"ps34197\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34200 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.46pt\"></span></span><span class=\"ps34199\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34201 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34202 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34204 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34205 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34206 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34208 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34209 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26428 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Cross currency </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34210 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34211 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.05pt\"></span></span><span class=\"ps3785\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34212 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.77pt\"></span></span><span class=\"ps3902\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34213 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34214 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34215 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34216 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34217 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34218 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34219 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11173 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">CHANGE </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34221 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.64pt\"></span></span><span class=\"ps34220\">1\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34223 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.52pt\"></span></span><span class=\"ps34222\">(1\u00a0094)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11178 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34224 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34225 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.51pt\"></span></span><span class=\"ps23465\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34226 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.36pt\"></span></span><span class=\"ps27245\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34227 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.35pt\"></span></span><span class=\"ps22516\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34229 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.87pt\"></span></span><span class=\"ps34228\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34230 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.44pt\"></span></span><span class=\"ps26213\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8749 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34231 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34233 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.22pt\"></span></span><span class=\"ps34232\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34234 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34235 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.11pt\"></span></span><span class=\"ps15673\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34236 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34237 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.11pt\"></span></span><span class=\"ps16600\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34238 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34239 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.51pt\"></span></span><span class=\"ps31004\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34240 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.53pt\"></span></span><span class=\"ps29931\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34242 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.79pt\"></span></span><span class=\"ps34241\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22685 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">MATI\u00c8RES </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">PREMI\u00c8RES</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34244 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.6pt\"></span></span><span class=\"ps34243\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34245 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.18pt\"></span></span><span class=\"ps3522\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34247 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.65pt\"></span></span><span class=\"ps34246\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34248 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34250 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.63pt\"></span></span><span class=\"ps34249\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34251 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34253 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.13pt\"></span></span><span class=\"ps34252\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34255 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.07pt\"></span></span><span class=\"ps34254\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34256 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.36pt\"></span></span><span class=\"ps1890\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23431 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34257 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34258 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34259 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34260 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34261 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34262 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34263 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34264 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34265 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34266 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.59pt\"></span></span><span class=\"ps34169\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34267 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34268 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps4529\">Fair value hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34269 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.25pt\"></span></span><span class=\"ps29036\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34271 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34272 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34274 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.07pt\"></span></span><span class=\"ps34273\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34275 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34276 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34277 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34278 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.07pt\"></span></span><span class=\"ps24124\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34279 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.05pt\"></span></span><span class=\"ps25685\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3586 ss2137\"><div><div class=\"ps1114 ss188\"><span class=\"f charStyle-12ac666e ps10\">Cross currency <span class=\"f ps53\"> </span></span></div><div class=\"ps1306 ss188\"><span class=\"f charStyle-12ac666e ps10\">swap<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34280 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34281 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.05pt\"></span></span><span class=\"ps3785\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34282 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.77pt\"></span></span><span class=\"ps3902\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34283 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34284 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34285 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34286 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34287 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.06pt\"></span></span><span class=\"ps31075\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34288 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34289 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34290 ss2144\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE TAUX</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34291 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.12pt\"></span></span><span class=\"ps23683\">622<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34292 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.63pt\"></span></span><span class=\"ps29148\">(622)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34293 ss1177\"><div><div class=\"ps523 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34295 ss1293\"><div><div class=\"ps523 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.85pt\"></span></span><span class=\"ps34294\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34296 ss2145\"><div><div class=\"ps523 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34297 ss2146\"><div><div class=\"ps523 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34299 ss2145\"><div><div class=\"ps523 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.61pt\"></span></span><span class=\"ps34298\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34300 ss397\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.87pt\"></span></span><span class=\"ps34228\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34301 ss397\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps26154 ss2148\"><div><div class=\"ps746 ss2147\"><span class=\"f charStyle-f573b8b5 ps10\">TOTAL INSTRUMENTS FINANCIERS D\u00c9RIV\u00c9S<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34303 ss1677\"><div><div class=\"ps746 ss1112\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.04pt\"></span></span><span class=\"ps34302\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34304 ss2143\"><div><div class=\"ps746 ss61\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.35pt\"></span></span><span class=\"ps22516\">86<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34306 ss1118\"><div><div class=\"ps746 ss1084\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.18pt\"></span></span><span class=\"ps34305\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34307 ss2143\"><div><div class=\"ps746 ss61\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.6pt\"></span></span><span class=\"ps33767\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34308 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">64<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34309 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.21pt\"></span></span><span class=\"ps18602\">37<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:241.76pt\">Les nominaux des instruments d\u00e9riv\u00e9s sont exprim\u00e9s en \u00e9quivalent euros.</span></div><div class=\"ps34311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de contrepartie bancaire<span id=\"i4e57b1fc075f4333857ffbf77214d0a5\"></span></span></div><div class=\"ps3054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.32pt\">Le Groupe traite ses instruments d\u00e9riv\u00e9s avec des</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps3008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:54.67pt\">\u00e9tablissements</span><span class=\"f charStyle-165dec60 ps34312\" style=\"width:174.6pt\"> bancaires de premier rang et r\u00e9alise un suivi</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps3009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.37pt\">r\u00e9gulier du risque de contrepartie.</span><span class=\"f charStyle-165dec60 ps34313\" style=\"width:1.96pt\"> </span></div><div class=\"ps34314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.1<span id=\"ie16a3f3bf3e8401cb4ae518ccdeafc12\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps19284\"><span style=\"display:inline-block;height:8.22pt;width:9.44pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de change</span></span></div><div class=\"ps34315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de change op\u00e9rationnel<span id=\"i2bbd139a823b4a69bb4a56a91ca93d4e\"></span></span></div><div class=\"ps34316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Les filiales du Groupe sont expos\u00e9es au risque de change</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dans le cadre de leurs activit\u00e9s industrielles et commerciales.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Ces risques et les couvertures aff\u00e9rentes sont suivis par la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:211.94pt\">Direction du Financement et de la Tr\u00e9sorerie du Groupe.</span><span class=\"f charStyle-165dec60 ps34319\" style=\"width:1.96pt\"> </span></div><div class=\"ps34321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">L\u2019exposition bilantielle (cr\u00e9ances et dettes non financi\u00e8res</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">inscrites au bilan en devises \u00e9trang\u00e8res) est couverte de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">fa\u00e7on syst\u00e9matique. Les couvertures des filiales sont</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">r\u00e9alis\u00e9es principalement aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re Valeo, qui</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">\u00e0 son tour couvre les positions nettes du Groupe aupr\u00e8s de</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:56.49pt\"><span style=\"background-color:inherit\">contreparties </span></span><span class=\"f charStyle-b26c2267 ps27780\" style=\"width:172.83pt\"><span style=\"background-color:inherit\">externes. Les produits d\u00e9riv\u00e9s de change</span></span><span class=\"f charStyle-b26c2267 ps431\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:88.96pt\"><span style=\"background-color:inherit\">correspondants n'\u00e9tant</span></span><span class=\"f charStyle-68ecf294 ps34327\" style=\"width:140.35pt\"><span style=\"background-color:inherit\"> pas d\u00e9sign\u00e9s dans une relation de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">couverture comptable sont qualifi\u00e9s d\u2019instruments de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19438 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps275\" style=\"width:30.37pt\"><span style=\"background-color:inherit\">trading </span></span><span class=\"f charStyle-68ecf294 ps34330\" style=\"width:110.3pt\"><span style=\"background-color:inherit\">d'un point de vue comptable.</span></span><span class=\"f charStyle-68ecf294 ps12083\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le Groupe couvre \u00e9galement sa marge op\u00e9rationnelle</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">contre le risque de change, sur un horizon budg\u00e9taire de</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">fa\u00e7on r\u00e9guli\u00e8re et sur un horizon contractuel de fa\u00e7on</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:111.94pt\"><span style=\"background-color:inherit\">exceptionnelle pour des c</span></span><span class=\"f charStyle-5bbe5a0c ps27771\" style=\"width:117.34pt\"><span style=\"background-color:inherit\">ontrats pr\u00e9cis significatifs. Les</span></span><span class=\"f charStyle-5bbe5a0c ps610\" style=\"width:1.66pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5bbe5a0c ps275\" style=\"width:143.23pt\"><span style=\"background-color:inherit\">principaux instruments de couverture </span></span><span class=\"f charStyle-68ecf294 ps34335\" style=\"width:86.05pt\"><span style=\"background-color:inherit\">auxquels le Groupe a</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:170.69pt\"><span style=\"background-color:inherit\">habituellement recours sont les achats et </span></span><span class=\"f charStyle-6b8e39ee ps34337\" style=\"width:58.64pt\"><span style=\"background-color:inherit\">ventes \u00e0 terme</span></span><span class=\"f charStyle-6b8e39ee ps412\" style=\"width:1.81pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6b8e39ee ps275\" style=\"width:216.7pt\"><span style=\"background-color:inherit\">fermes en devises. Dans ce cas, le Groupe applique</span></span><span class=\"f charStyle-68ecf294 ps34339\" style=\"width:12.6pt\"><span style=\"background-color:inherit\"> la</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:205.3pt\"><span style=\"background-color:inherit\">comptabilit\u00e9 de couverture de flux futurs de tr\u00e9sorerie.</span></span></div><div class=\"ps13143 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">Elle est d\u00e9termin\u00e9e par la technique de valorisation</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps13144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">suivante\u00a0: les flux de tr\u00e9sorerie futurs sont calcul\u00e9s en</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">utilisant les cours de change \u00e0 terme \u00e0 la date de cl\u00f4ture, et</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">sont actualis\u00e9s au taux d\u2019int\u00e9r\u00eat de la devise de valorisation.</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:177.36pt\"><span style=\"background-color:inherit\">Cette technique de valorisation est de niveau 2.</span></span></div><div class=\"ps5148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">Au </span></span><span class=\"f charStyle-165dec60 ps34342\" style=\"width:67.74pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps31597\" style=\"width:149.08pt\"><span style=\"background-color:inherit\">, la part inefficace li\u00e9e \u00e0 ces couvertures</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps5149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:173.68pt\"><span style=\"background-color:inherit\">est n\u00e9gligeable, comme au 31 d\u00e9cembre 2024.</span></span><span class=\"f charStyle-68ecf294 ps34343\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34344 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de change financier<span class=\"f ps53\"> </span><span id=\"ifa9c8a40627c475c9caa305c6b1a9456\"></span></span></div><div class=\"ps34345 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">La centralisation des exc\u00e9dents de tr\u00e9sorerie, les besoins de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">financement des filiales \u00e9trang\u00e8res et certaines op\u00e9rations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.54pt\">de </span><span class=\"f charStyle-81f42323 ps34347\" style=\"width:215.72pt\">financement exposent le Groupe \u00e0 un risque de change</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps34350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:31.25pt\">financier</span><span class=\"f charStyle-165dec60 ps34349\" style=\"width:198.07pt\"> (risque li\u00e9 \u00e0 la variation de valeur de dettes ou de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.15pt\">cr\u00e9ances </span><span class=\"f charStyle-81f42323 ps34351\" style=\"width:192.16pt\">financi\u00e8res libell\u00e9es en devises autres que la devise</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps34354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:47.16pt\">fonctionnelle</span><span class=\"f charStyle-165dec60 ps34353\" style=\"width:182.11pt\"> de l\u2019entit\u00e9 emprunteuse ou pr\u00eateuse). Ce risque</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps7248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.41pt\">de change est couvert essentiellement via des </span><span class=\"f charStyle-e8054d08 ps34355\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34356\" style=\"width:13.84pt\"> de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps7249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.12pt\">devises.</span></div><div class=\"ps34357 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe finance usuellement ses filiales dans leurs propres</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34358 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:229.31pt\">devises et se couvre syst\u00e9matiquement contre le risque de</span><span class=\"f charStyle-b2f078f6 ps460\" style=\"width:1.83pt\"> </span></div><div class=\"ps34360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:27.66pt\">change</span><span class=\"f charStyle-165dec60 ps34359\" style=\"width:55.01pt\"> qui en r\u00e9sulte.</span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Par ailleurs, les financements externes du Groupe sont, en</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">r\u00e8gle g\u00e9n\u00e9rale, libell\u00e9s en euros, notamment pour les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:211.55pt\">\u00e9missions obligataires sous programme EMTN (</span><span class=\"f charStyle-e8054d08 ps34361\" style=\"width:17.75pt\">Euro</span><span class=\"f charStyle-e8054d08 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:73.83pt\">Medium Term Note</span><span class=\"f charStyle-165dec60 ps34362\" style=\"width:4.05pt\">).</span></div><div class=\"ps34363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le gain latent de 2 millions d\u2019euros porte principalement sur</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:13.69pt\"><span style=\"background-color:inherit\">les </span></span><span class=\"f charStyle-bec71f61 ps34364\" style=\"width:24.07pt\"><span style=\"background-color:inherit\">swaps</span></span><span class=\"f charStyle-68ecf294 ps34365\" style=\"width:191.51pt\"><span style=\"background-color:inherit\"> de devises relatifs aux couvertures des comptes</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:124.82pt\"><span style=\"background-color:inherit\">courants et bancaires du Groupe.</span></span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition nette globale du Groupe<span id=\"i7f965bab3bbe488b8bb37f2d597fd955\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:272.27pt\">L\u2019exposition nette globale du Groupe (sur les positions bilantielles) au </span><span class=\"f charStyle-81993cb5 ps34368\" style=\"width:69.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81993cb5 ps34369\" style=\"width:139.42pt\">, bas\u00e9e sur les montants notionnels,</span><span class=\"f charStyle-81993cb5 ps1722\" style=\"width:1.87pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:47.45pt\">se\u00a0concentre</span><span class=\"f charStyle-165dec60 ps29032\" style=\"width:290.35pt\"> sur les principales devises suivantes (hors devises fonctionnelles des entit\u00e9s)\u00a0:</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss2150\"><div><div class=\"ps9316 ss2149\"><span class=\"f charStyle-6bef0edd ps34370\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34373 ss2151\"><div><div class=\"ps9316 ss970\"><span class=\"f charStyle-98f46611 ps34371\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34372\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9317 ss2152\"><div><div class=\"ps34374 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34375 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps28834\">USD<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34376 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps9334\">CNY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34377 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps29149\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34378 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps23388\">JPY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34379 ss2153\"><div><div class=\"ps9319 ss208\"><span class=\"f charStyle-6bef0edd ps16616\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps32314\">devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34381 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps34380\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34383 ss2154\"><div><div class=\"ps9321 ss970\"><span class=\"f charStyle-ae6044e9 ps34382\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34384 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs commerciaux expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34386 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.88pt\"></span></span><span class=\"ps34385\">(141)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34388 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.26pt\"></span></span><span class=\"ps34387\">(97)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34389 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.01pt\"></span></span><span class=\"ps30894\">(267)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34390 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.2pt\"></span></span><span class=\"ps31002\">(28)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34391 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.97pt\"></span></span><span class=\"ps31180\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34392 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">(552)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34394 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.3pt\"></span></span><span class=\"ps34393\">(587)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs financiers expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34395 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">(416)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34396 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.43pt\"></span></span><span class=\"ps24061\">(1\u00a0313)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34397 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">49<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34398 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">(153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34399 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">720<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34401 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.95pt\"></span></span><span class=\"ps34400\">(1\u00a0113)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34402 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.82pt\"></span></span><span class=\"ps30659\">(1\u00a0832)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE BRUTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34403 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.45pt\"></span></span><span class=\"ps33612\">(557)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25916 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.77pt\"></span></span><span class=\"ps34404\">(1\u00a0410)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34405 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.71pt\"></span></span><span class=\"ps11374\">(218)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34406 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.19pt\"></span></span><span class=\"ps3626\">(181)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34408 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.01pt\"></span></span><span class=\"ps34407\">701<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34410 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.96pt\"></span></span><span class=\"ps34409\">(1\u00a0665)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34412 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.11pt\"></span></span><span class=\"ps34411\">(2\u00a0419)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10856 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s de change </span><span class=\"f charStyle-4da12822 ps34413\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34414 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.94pt\"></span></span><span class=\"ps14346\">549<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34416 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.47pt\"></span></span><span class=\"ps34415\">1\u00a0386<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34417 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.23pt\"></span></span><span class=\"ps10533\">(38)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34418 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">177<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34419 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.17pt\"></span></span><span class=\"ps23605\">(741)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34420 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.37pt\"></span></span><span class=\"ps4556\">1\u00a0333<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34422 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.81pt\"></span></span><span class=\"ps34421\">2\u00a0200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34423 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE NETTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34425 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.07pt\"></span></span><span class=\"ps34424\">(8)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34426 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.44pt\"></span></span><span class=\"ps11138\">(24)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34428 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.37pt\"></span></span><span class=\"ps34427\">(256)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34429 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.86pt\"></span></span><span class=\"ps3374\">(4)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34431 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.77pt\"></span></span><span class=\"ps34430\">(40)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34433 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.72pt\"></span></span><span class=\"ps34432\">(332)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34434 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.39pt\"></span></span><span class=\"ps29596\">(219)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.07pt\">hors instruments d\u00e9riv\u00e9s de couverture de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34439 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:53.56pt\">au 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34438\" style=\"width:15.97pt\">2024</span></div><div class=\"ps34440 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.18pt\">Dans le tableau ci-dessus, la colonne libell\u00e9e EUR correspond \u00e0 l\u2019exposition nette euro des entreprises du Groupe dont la</span><span class=\"f charStyle-165dec60 ps1225\" style=\"width:1.96pt\"> </span></div><div class=\"ps34441 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro. Il existe notamment une exposition des filiales localis\u00e9es en Europe centrale et dans le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:281.57pt\">bassin m\u00e9diterran\u00e9en, qui se financent en euros aupr\u00e8s de la soci\u00e9t\u00e9 Valeo.</span><span class=\"f charStyle-165dec60 ps19744\" style=\"width:1.96pt\"> </span></div><div class=\"ps34443 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-ebecb6c1 ps275\">Analyse de sensibilit\u00e9 de l\u2019exposition nette au risque de change<span id=\"id807047dcfdb40f4ab8040cb86a3265b\"></span></span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.18pt\"><span style=\"background-color:inherit\">Les cours de change retenus pour le dollar am\u00e9ricain, pour le yen japonais et pour le renminbi chinois s\u2019\u00e9tablissent</span></span><span class=\"f charStyle-68ecf294 ps1225\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:209.44pt\"><span style=\"background-color:inherit\">respectivement pour 1 euro \u00e0 1,175, 184,09 et 8,2262 au\u00a0</span></span><span class=\"f charStyle-165dec60 ps27923\" style=\"width:68.84pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34444\" style=\"width:202.97pt\"><span style=\"background-color:inherit\"> contre 1,0389 pour le dollar am\u00e9ricain, 163,06 pour le</span></span><span class=\"f charStyle-68ecf294 ps719\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:189.02pt\"><span style=\"background-color:inherit\">yen japonais et 7,5833 pour le renminbi chinois au </span></span><span class=\"f charStyle-165dec60 ps34445\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps34446\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:151.5pt\">Une appr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps34447\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34448\" style=\"width:26.39pt\"> et au </span><span class=\"f charStyle-165dec60 ps34449\" style=\"width:70.49pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps34450\" style=\"width:163.11pt\"> par rapport \u00e0 ces devises aurait les effets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:293.04pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34462 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps10311 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-98f46611 ps25704\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34452\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2157\"><div><div class=\"ps16333 ss666\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10314 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps8015 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-873f2209 ps34454\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-98f46611 ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-d93fd2c0 ps34454\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32820 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34455 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au yen japonais<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32827 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34456 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.15pt\"></span></span><span class=\"ps34457\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-044fe383 ps10\">Exposition au renminbi chinois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32835 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34458 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.16pt\"></span></span><span class=\"ps28393\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition \u00e0 l'euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32844 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.91pt\"></span></span><span class=\"ps27904\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34459 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.14pt\"></span></span><span class=\"ps27880\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11367 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32852 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.12pt\"></span></span><span class=\"ps34460\">(22)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34461 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">(3)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(19)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.55pt\"></span></span><span class=\"ps11842\">(5)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">les chiffres pr\u00e9sent\u00e9s correspondent \u00e0 la sensibilit\u00e9 des autres \u00e9l\u00e9ments du r\u00e9sultat global li\u00e9e \u00e0 une \u00e9volution des instruments de couverture</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps34464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:125.23pt\">de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34465 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:69.53pt\">au 31 d\u00e9cembre 2024</span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Pour les besoins de ces analyses, toutes les autres variables,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">en particulier les taux d\u2019int\u00e9r\u00eats, sont suppos\u00e9es rester</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.01pt\">Une d\u00e9pr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps9638\" style=\"width:68.38pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34468\" style=\"width:14.92pt\"> par</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">rapport \u00e0 ces devises aurait l\u2019effet inverse en faisant</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">l\u2019hypoth\u00e8se que toutes les autres variables restent</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps19803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les effets des variations des taux de change sur la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">conversion en euro du montant des actifs nets sont refl\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:180.96pt\">dans les capitaux propres consolid\u00e9s du Groupe.</span></div><div class=\"ps12401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">De nombreuses entit\u00e9s du Groupe sont situ\u00e9es hors de la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34469 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">zone euro. La devise de pr\u00e9sentation des \u00e9tats financiers de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34470 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Valeo \u00e9tant l'euro, les \u00e9tats financiers de ses filiales sont</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34471 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">convertis en euros pour la pr\u00e9paration des \u00e9tats financiers</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34472 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">consolid\u00e9s. Dans le cadre de sa gestion du risque de change,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">le Groupe consid\u00e8re que ses investissements dans ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s \u00e9trang\u00e8res sont permanents. Les effets des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">fluctuations des taux de change sur la conversion des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps18064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">montants nets des actifs en euros sont refl\u00e9t\u00e9s dans la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps18065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:147.83pt\">situation nette consolid\u00e9e de la soci\u00e9t\u00e9.</span></div><div class=\"ps34473 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Par ailleurs, les op\u00e9rations de financements entre deux</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">entit\u00e9s du Groupe ayant des devises fonctionnelles</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">diff\u00e9rentes sont de nature \u00e0\u00a0 exposer le r\u00e9sultat de Valeo au</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">risque de change. Pour se pr\u00e9munir contre ce risque, le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe peut \u00eatre amen\u00e9 \u00e0 contracter des instruments</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u00e9riv\u00e9s. Les op\u00e9rations de financement intragroupes faisant</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps15322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l\u2019objet d\u2019une \u00e9limination dans les comptes consolid\u00e9s du</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps15323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Groupe, les variations de valeur de ces instruments de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">couverture sont susceptibles d\u2019avoir une incidence sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps15325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:112.38pt\">l\u2019endettement net du Groupe.</span><span class=\"f charStyle-165dec60 ps34479\" style=\"width:1.96pt\"> </span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s de change<span id=\"ifd1a9b59195e44118cc2cd75d31ddeef\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.33pt\">Les cours de cl\u00f4ture de la Banque centrale europ\u00e9enne (BCE) et les taux <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps34480\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps34481\" style=\"width:13.92pt\"> au </span><span class=\"f charStyle-165dec60 ps34482\" style=\"width:68pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34483\" style=\"width:92.95pt\"> ont \u00e9t\u00e9 retenus pour les</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.9pt\">instruments financier</span><span class=\"f charStyle-68ecf294 ps34484\" style=\"width:76.2pt\"><span style=\"background-color:inherit\">s relatifs au change :</span></span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></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><td style=\"padding:0;width:44.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34489 ss2158\"><div><div class=\"ps34486 ss1241\"><span class=\"f charStyle-6bef0edd ps34485\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss1241\"><span class=\"f charStyle-6bef0edd ps34487\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps32073 ss1461\"><div><div class=\"ps509 ss1458\"><span class=\"f charStyle-6bef0edd ps34490\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps23157 ss2159\"><div><div class=\"ps34488 ss387\"><span class=\"f charStyle-6bef0edd ps29952\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34491 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps11418\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34493 ss2161\"><div><div class=\"ps509 ss2160\"><span class=\"f charStyle-ae6044e9 ps34492\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps18555 ss1338\"><div><div class=\"ps509 ss1241\"><span class=\"f charStyle-ae6044e9 ps4515\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2163\"><div><div class=\"ps16333 ss2162\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34494 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps14424\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34495 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34298\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13681 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34496\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34497 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps10154\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34499 ss1291\"><div><div class=\"ps509 ss1241\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps34498\">2031</span><span class=\"f charStyle-98f46611 ps28741\"> et </span></div><div class=\"ps523 ss1241\"><span class=\"f charStyle-98f46611 ps16621\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2164\"><div><div class=\"ps15656 ss2162\"><span class=\"f charStyle-044fe383 ps10\">Contrats de change \u00e0 </span></div><div class=\"ps13845 ss2162\"><span class=\"f charStyle-044fe383 ps10\">terme utilis\u00e9s comme </span></div><div class=\"ps15657 ss2162\"><span class=\"f charStyle-044fe383 ps10\">couverture\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16837 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34500 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.97pt\"></span></span><span class=\"ps9752\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34502 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.7pt\"></span></span><span class=\"ps34501\">53<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34503 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.21pt\"></span></span><span class=\"ps26757\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34505 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34506 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34507 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34508 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34509 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34510 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34511 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34512 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34513 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34514 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34515 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34516 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34518 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.39pt\"></span></span><span class=\"ps34517\">(9)</span></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss2169\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-373e86b9 ps10\">Swaps</span><span class=\"f charStyle-044fe383 ps9416\"> de devise utilis\u00e9s </span></div><div class=\"ps34519 ss2162\"><span class=\"f charStyle-044fe383 ps10\">comme couverture :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26205 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34520 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34521 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34522 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34523 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34524 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34525 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34526 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34527 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.15pt\"></span></span><span class=\"ps10935\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34529 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34530 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34531 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34532 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34533 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34534 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34535 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34536 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.03pt\"></span></span><span class=\"ps358\">(13)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34537 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.2<span id=\"ied6f756cc13447c88d404fc067ae2977\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps21101\"><span style=\"display:inline-block;height:8.22pt;width:7.76pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s mati\u00e8res </span></span></div><div class=\"ps34538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">(m\u00e9taux\u00a0non\u00a0ferreux)</span></div><div class=\"ps34539 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de mati\u00e8res premi\u00e8res<span id=\"i5e94a017c5bf4069a11a3c272f74f99a\"></span></span></div><div class=\"ps633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe g\u00e8re son exposition aux mati\u00e8res premi\u00e8res en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">mettant en place, chaque fois que cela est possible, des</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4042 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.8pt\">clauses </span><span class=\"f charStyle-81f42323 ps34540\" style=\"width:197.47pt\">d\u2019indexation de ses prix de vente dans les contrats</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps4044 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:51.47pt\">commerciaux.</span><span class=\"f charStyle-165dec60 ps34541\" style=\"width:177.86pt\"> C\u2019est notamment le cas pour les m\u00e9taux non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">ferreux et l\u2019acier pour lesquels ces clauses couvrent plus de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4049 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:73.47pt\">80% de l\u2019exposition.</span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">L\u2019exposition aux m\u00e9taux non ferreux, cot\u00e9s principalement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.6pt\">sur le </span><span class=\"f charStyle-e8054d08 ps34542\" style=\"width:101.5pt\">London Metal Exchange </span><span class=\"f charStyle-165dec60 ps34543\" style=\"width:64.03pt\">(LME) et sur le </span><span class=\"f charStyle-e8054d08 ps34544\" style=\"width:37.12pt\">Shanghai</span><span class=\"f charStyle-e8054d08 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:71.68pt\">Futures Exchange</span><span class=\"f charStyle-165dec60 ps11708\" style=\"width:157.63pt\">, ainsi que, dans une moindre mesure,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">l'exposition au propyl\u00e8ne, sont couvertes aupr\u00e8s de banques</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de premier rang au travers d\u2019instruments d\u00e9riv\u00e9s de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">couverture. L\u2019objet de ces couvertures est de limiter l\u2019impact</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">des variations de prix de ces mati\u00e8res premi\u00e8res sur les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9sultats du Groupe et d\u2019offrir le temps n\u00e9cessaire \u00e0 Valeo</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">pour n\u00e9gocier en cons\u00e9quence des hausses de prix aupr\u00e8s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34548 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">de ses clients.\u00a0Les expositions r\u00e9sultant d\u2019indexations des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">prix de vente sur des p\u00e9riodes diff\u00e9rentes de celles pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps11996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">dans les contrats achats de mati\u00e8res premi\u00e8res font</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps11997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:126.11pt\">\u00e9galement l\u2019objet de couvertures.</span></div><div class=\"ps34550 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Les couvertures sont r\u00e9alis\u00e9es via des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">sans livraison de sous-jacent physique (essentiellement des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps12000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34552\" style=\"width:205.23pt\"> sur le cours moyen mensuel). Ces op\u00e9rations sont</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps12001 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">qualifi\u00e9es de couvertures de flux de tr\u00e9sorerie au sens de la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.35pt\">norme IFRS 9.</span></div><div class=\"ps29481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">L\u2019acier, la plupart des plastiques et les terres rares ne</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">peuvent pas faire l\u2019objet de couvertures \u00e0 terme sur les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">march\u00e9s financiers car ces mati\u00e8res ne sont pas cot\u00e9es sur</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.33pt\">un march\u00e9 organis\u00e9.</span></div><div class=\"ps29488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">La part relative des stocks dans l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps21741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">financi\u00e8re du Groupe est peu influenc\u00e9e par la variation du</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">prix des mati\u00e8res premi\u00e8res compte tenu de leur rotation</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">rapide et de l\u2019optimisation des flux logistiques qui en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.3pt\">r\u00e9duisent le montant.</span></div><div class=\"ps16325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.76pt\">Les volumes couverts de m\u00e9taux non ferreux en fin de p\u00e9riode s\u2019\u00e9tablissent aux </span><span class=\"f charStyle-165dec60 ps34555\" style=\"width:70.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34556\" style=\"width:14.55pt\"> et </span><span class=\"f charStyle-165dec60 ps34557\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34558\" style=\"width:58.02pt\"> de la mani\u00e8re</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34559 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante\u00a0:</span></div><div class=\"ps34568 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en tonnes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Aluminium<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">41\u00a0213<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.05pt\"></span></span><span class=\"ps34561\">44\u00a0483<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aluminium 2</span><span class=\"f charStyle-4da12822 ps34562\"><sup>e</sup></span><span class=\"f charStyle-044fe383 ps34563\"> fusion</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">10\u00a0513<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.86pt\"></span></span><span class=\"ps34564\">9\u00a0600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cuivre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.5pt\"></span></span><span class=\"ps34565\">10\u00a0309<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.47pt\"></span></span><span class=\"ps34566\">11\u00a0326<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.13pt\"></span></span><span class=\"ps34567\">62\u00a0035<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.03pt\"></span></span><span class=\"ps24079\">65\u00a0409<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Les produits d\u00e9riv\u00e9s sur m\u00e9taux de base utilis\u00e9s par le</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:36.01pt\"><span style=\"background-color:inherit\">Groupe s</span></span><span class=\"f charStyle-b26c2267 ps34569\" style=\"width:193.25pt\"><span style=\"background-color:inherit\">ont qualifi\u00e9s de couverture de flux de tr\u00e9sorerie.</span></span><span class=\"f charStyle-b26c2267 ps410\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:56.36pt\"><span style=\"background-color:inherit\">Pour l\u2019exercice </span></span><span class=\"f charStyle-68ecf294 ps34570\" style=\"width:28.13pt\"><span style=\"background-color:inherit\">clos au </span></span><span class=\"f charStyle-165dec60 ps34571\" style=\"width:67.62pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34572\" style=\"width:77.19pt\"><span style=\"background-color:inherit\">, un gain latent de 15</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">millions d'euros li\u00e9 aux couvertures en place est comptabilis\u00e9</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.95pt\"><span style=\"background-color:inherit\">dans les Autres \u00e9l\u00e9ments du r\u00e9sultat global.</span></span></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">La perte latente de 3 millions d\u2019euros comptabilis\u00e9e dans les</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:156.71pt\">Autres \u00e9l\u00e9ments du r\u00e9sultat global au </span><span class=\"f charStyle-165dec60 ps34573\" style=\"width:72.61pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">relatif aux couvertures en place a \u00e9t\u00e9 enti\u00e8rement reclass\u00e9e</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.94pt\">en r\u00e9sultat op\u00e9rationnel en </span><span class=\"f charStyle-165dec60 ps34574\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34575\" style=\"width:1.59pt\">.</span></div><div class=\"ps34576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 des couvertures en vie au 31 d\u00e9cembre 2025 <span id=\"i97288b4385f944e49abf2157435a6ea3\"></span></span></div><div class=\"ps34579 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:207.87pt\">Une hausse de 10\u00a0% des cours \u00e0 terme des m\u00e9taux aux </span><span class=\"f charStyle-49b068b5 ps13902\" style=\"width:67.04pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-49b068b5 ps34577\" style=\"width:12.27pt\"> et </span><span class=\"f charStyle-49b068b5 ps4176\" style=\"width:18.01pt\">2024</span><span class=\"f charStyle-49b068b5 ps34578\" style=\"width:176.07pt\"> aurait les impacts suivants sur le r\u00e9sultat et les</span><span class=\"f charStyle-49b068b5 ps689\" style=\"width:1.86pt\"> </span></div><div class=\"ps34581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:33.29pt\">capitaux </span><span class=\"f charStyle-165dec60 ps34580\" style=\"width:85.56pt\">propres, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34588 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:90pt\"></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:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps3695 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps11003\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34582 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps10032\">Gains/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2020\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une hausse de 10 % </span></div><div class=\"ps748 ss762\"><span class=\"f charStyle-044fe383 ps10\">des\u00a0cours \u00e0 terme des m\u00e9taux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34584 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34586 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:77.21pt\"></span></span><span class=\"ps34585\">12<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16366 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.5pt\"></span></span><span class=\"ps34587\">10<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:375.05pt\">, une baisse de 10 % des cours \u00e0 terme des m\u00e9taux aurait un impact d\u00e9favorable du m\u00eame montant.</span></div><div class=\"ps34591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:353.5pt\">Pour les besoins de cette analyse, toutes les autres variables sont suppos\u00e9es rester constantes.</span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s mati\u00e8res<span id=\"i5d6c314b0abd4d5091fcf36884542372\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:79.4pt\">Les cours \u00e0 terme du </span><span class=\"f charStyle-8ab43435 ps34592\" style=\"width:91.01pt\">London Metal Exchange</span><span class=\"f charStyle-53279637 ps34593\" style=\"width:37.06pt\"> (LME) du </span><span class=\"f charStyle-53279637 ps34594\" style=\"width:66.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-53279637 ps34595\" style=\"width:207.67pt\"> ont \u00e9t\u00e9 utilis\u00e9s pour \u00e9tablir les \u00e9ch\u00e9ances contractuelles</span><span class=\"f charStyle-53279637 ps455\" style=\"width:1.85pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:30.27pt\">relatives</span><span class=\"f charStyle-165dec60 ps13762\" style=\"width:82.9pt\"> aux d\u00e9riv\u00e9s mati\u00e8res :</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:66pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32207 ss2172\"><div><div class=\"ps34486 ss2067\"><span class=\"f charStyle-6bef0edd ps25857\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss2067\"><span class=\"f charStyle-6bef0edd ps34596\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps13831 ss2174\"><div><div class=\"ps509 ss2173\"><span class=\"f charStyle-6bef0edd ps34597\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9972 ss2175\"><div><div class=\"ps34488 ss637\"><span class=\"f charStyle-6bef0edd ps13199\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34599 ss2176\"><div><div class=\"ps9325 ss637\"><span class=\"f charStyle-ae6044e9 ps34598\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34601 ss2178\"><div><div class=\"ps509 ss2177\"><span class=\"f charStyle-ae6044e9 ps34600\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34582 ss1116\"><div><div class=\"ps509 ss637\"><span class=\"f charStyle-ae6044e9 ps10060\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34603 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34602\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34604 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps3800\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34606 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34605\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34608 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34607\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss638\"><div><div class=\"ps509 ss637\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps17690\">2031</span><span class=\"f charStyle-98f46611 ps34609\"> et </span></div><div class=\"ps523 ss637\"><span class=\"f charStyle-98f46611 ps400\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s mati\u00e8res :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34610 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.05pt\"></span></span><span class=\"ps30356\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34612 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34613 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34614 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34615 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34616 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34617 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34618 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34620 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.45pt\"></span></span><span class=\"ps34619\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34622 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34623 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34624 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34625 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34626 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34627 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34628 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34630 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.3<span id=\"i3b53baccdf014b5d95fd02b7048bdcc7\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34629\"><span style=\"display:inline-block;height:8.22pt;width:7.74pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de taux d\u2019int\u00e9r\u00eats</span></span></div><div class=\"ps34631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de taux d\u2019int\u00e9r\u00eats<span id=\"ia2409fd65f9048dc93cab92c5820a734\"></span></span></div><div class=\"ps872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:113.58pt\">Le Groupe peut utiliser des </span><span class=\"f charStyle-bed55b1c ps34632\" style=\"width:23.72pt\">swaps</span><span class=\"f charStyle-5064d44f ps34633\" style=\"width:91.97pt\"> de taux d\u2019int\u00e9r\u00eat pour</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps873 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:44.9pt\">convertir le </span><span class=\"f charStyle-165dec60 ps20548\" style=\"width:184.35pt\">taux contractuel de la dette en un taux variable</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps874 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.05pt\">ou fixe. La </span><span class=\"f charStyle-81f42323 ps22029\" style=\"width:189.21pt\">tr\u00e9sorerie et les \u00e9quivalents de tr\u00e9sorerie sont plac\u00e9s</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps875 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.31pt\">aussi bien \u00e0 taux fixe qu'\u00e0 taux variable. La dette financi\u00e8re est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:59.02pt\">majoritairement</span><span class=\"f charStyle-165dec60 ps34634\" style=\"width:62.27pt\"> \u00e0 taux fixe\u00a0: au </span><span class=\"f charStyle-165dec60 ps34635\" style=\"width:69.28pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps14259\" style=\"width:38.71pt\">, 82 % des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dettes financi\u00e8res \u00e0 long terme (part \u00e0 plus d\u2019un an) sont \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">taux fixe, ratio en augmentation par rapport \u00e0 celui de l'an</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.81pt\">dernier.</span></div><div class=\"ps2729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Une filiale japonaise du Groupe a mis en place un</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financement pour l'une de ses filiales en roupies</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps887 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">indon\u00e9siennes. Afin de se couvrir contre les risques de taux</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps888 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">et de change li\u00e9s \u00e0 ce financement, celle-ci a contract\u00e9 deux</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">cross currency swaps d'un montant notionnel de 4 milliards</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de yens japonais, adoss\u00e9s en terme de maturit\u00e9.Ces d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps16144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">ne sont pas d\u00e9sign\u00e9s dans une relation de couverture</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:110.87pt\">La tranche \u00e0 taux variable du </span><span class=\"f charStyle-e8054d08 ps34636\" style=\"width:50.59pt\">Schuldschein</span><span class=\"f charStyle-165dec60 ps34637\" style=\"width:67.8pt\"> \u00e9mis en avril 2019</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps16149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.04pt\">a </span><span class=\"f charStyle-81f42323 ps21418\" style=\"width:78.71pt\">\u00e9t\u00e9 couverte par un </span><span class=\"f charStyle-a702cc9d ps34638\" style=\"width:19.69pt\">swap</span><span class=\"f charStyle-81f42323 ps34639\" style=\"width:122.88pt\"> de taux qui \u00e9change le coupon</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps34645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.09pt\">variable</span><span class=\"f charStyle-165dec60 ps34640\" style=\"width:2.49pt\"> </span><span class=\"f charStyle-81f42323 ps34641\" style=\"width:69.71pt\">contre un taux fixe.</span><span class=\"f charStyle-81f42323 ps34642\" style=\"width:80.38pt\">\u00a0Cet instrument a \u00e9t\u00e9 </span><span class=\"f charStyle-81f42323 ps34643\" style=\"width:28.75pt\">d\u00e9sign\u00e9</span><span class=\"f charStyle-81f42323 ps34644\" style=\"width:19.82pt\"> dans</span><span class=\"f charStyle-81f42323 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:44.08pt\">une relation</span><span class=\"f charStyle-165dec60 ps34646\" style=\"width:78.76pt\"> de couverture type </span><span class=\"f charStyle-e8054d08 ps34647\" style=\"width:106.49pt\">cash-flow hedge, laquelle a</span><span class=\"f charStyle-e8054d08 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:58.14pt\">pris fin en 2025.</span></div><div class=\"ps12593 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:23.47pt\">Deux </span><span class=\"f charStyle-e8054d08 ps34648\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34649\" style=\"width:181.78pt\"> de taux d'int\u00e9r\u00eat pour un montant global de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">600\u00a0millions d'euros ont \u00e9t\u00e9 mis en place en novembre 2022</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps34651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pour variabiliser partiellement les int\u00e9r\u00eats de l'emprunt</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">EMTN de 750 millions d'euros \u00e9mis concomitamment. Ces</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">instruments ont \u00e9t\u00e9 d\u00e9sign\u00e9s dans une relation de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.36pt\">couverture de type </span><span class=\"f charStyle-e8054d08 ps1025\" style=\"width:61.61pt\">fair value hedge</span><span class=\"f charStyle-165dec60 ps34652\" style=\"width:1.59pt\">.</span></div><div class=\"ps34665 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss1944\"><div><div class=\"ps10309 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30404 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-ae6044e9 ps34653\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30405 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30407 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-373e86b9 ps10\">Swaps </span><span class=\"f charStyle-044fe383 ps31087\">de taux\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Emprunt en roupie indon\u00e9sienne </span><span class=\"f charStyle-4da12822 ps34656\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30414 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30416 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placement priv\u00e9 </span><span class=\"f charStyle-373e86b9 ps34657\">Schuldschein<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30417 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30419 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.69pt\"></span></span><span class=\"ps34658\">123<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383\"><span class=\"ps511\">EMTN \u00e9ch\u00e9ance 2027<span style=\"display:inline-block;height:7.26pt;width:27.06pt\"></span></span><span class=\"ps34659\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span><span class=\"ps34660\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30421 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30422 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.64pt\"></span></span><span class=\"ps34661\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.62pt\"></span></span><span class=\"ps34662\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30425 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.02pt\"></span></span><span class=\"ps34663\">622<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30427 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.37pt\"></span></span><span class=\"ps19146\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.13pt\"></span></span><span class=\"ps30949\">747<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.31pt\"></span></span><span class=\"ps34664\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:405.78pt\">Les nominaux des cross-currency swaps sont ceux de la jambe en JPY contre-valoris\u00e9s aux taux de change du 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34666\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps34667\" style=\"width:1.37pt\">.</span></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition n<span id=\"i545268519cd045d99c70f1f2a46a25f9\"></span></span><span class=\"f charStyle-aa33f529 ps34669\">ette du Groupe</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:481.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, la position nette du Groupe en mati\u00e8re de taux d\u2019int\u00e9r\u00eat, sur la base des valeurs nominales, s\u2019analyse</span></span><span class=\"f charStyle-61077b09 ps8343\" style=\"width:1.87pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:47.53pt\"><span style=\"background-color:inherit\">comme\u00a0suit\u00a0:</span></span></div><div class=\"ps34670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i7c1caff05389438598ff69b9c06bc3af\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps34754 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps34671\">Moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps16613\">Un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps96\">Plus de cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.71pt\"></span></span><span class=\"ps34683\">931<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.52pt\"></span></span><span class=\"ps34685\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.42pt\"></span></span><span class=\"ps16443\">3\u00a0703<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.53pt\"></span></span><span class=\"ps34687\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.83pt\"></span></span><span class=\"ps34689\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.09pt\"></span></span><span class=\"ps34692\">5\u00a0989<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.92pt\"></span></span><span class=\"ps6862\">602<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.17pt\"></span></span><span class=\"ps34694\">6\u00a0591<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Pr\u00eats<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-044fe383 ps10\">Tr\u00e9sorerie et \u00e9quivalents </span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.09pt\"></span></span><span class=\"ps34717\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE AVANT GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.56pt\"></span></span><span class=\"ps34722\">3\u00a0677<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.11pt\"></span></span><span class=\"ps34728\">5\u00a0508<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.25pt\"></span></span><span class=\"ps8726\">(1\u00a0450)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE APR\u00c8S GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.24pt\"></span></span><span class=\"ps34744\">3\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.03pt\"></span></span><span class=\"ps34746\">1\u00a0002<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.1pt\"></span></span><span class=\"ps34750\">4\u00a0908<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.52pt\"></span></span><span class=\"ps22390\">(850)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"iaa49409005a24d068ec1a1aab477abbb\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps34769 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps34671\"><span style=\"background-color:inherit\">Moins d'un an</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps16613\"><span style=\"background-color:inherit\">Un \u00e0 cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps96\"><span style=\"background-color:inherit\">Plus de cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-ae837db4 ps10\"><span style=\"background-color:inherit\">(en millions d'euros)</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Passifs financiers</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.31pt\"></span></span><span class=\"ps34756\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0910</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.78pt\"></span></span><span class=\"ps25365\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">272</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:11.14pt\"></span></span><span class=\"ps34757\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0413</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:10.05pt\"></span></span><span class=\"ps34758\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.8pt\"></span></span><span class=\"ps16452\">6\u00a0413<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\">649<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.05pt\"></span></span><span class=\"ps11361\">7\u00a0062<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Pr\u00eats</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(25)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Int\u00e9r\u00eats courus</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(32)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">Tr\u00e9sorerie et \u00e9quivalents </span></span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">de\u00a0tr\u00e9sorerie</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(788)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0365)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\">(788)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\">(2\u00a0365)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.39pt\"></span></span><span class=\"ps399\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE AVANT GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.85pt\"></span></span><span class=\"ps34763\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0093</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.29pt\"></span></span><span class=\"ps32226\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0388</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.95pt\"></span></span><span class=\"ps23575\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.43pt\"></span></span><span class=\"ps34764\">5\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.6pt\"></span></span><span class=\"ps10774\">(1\u00a0716)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Instruments d\u00e9riv\u00e9s</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:17.99pt\"></span></span><span class=\"ps34765\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">122</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.03pt\"></span></span><span class=\"ps25428\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(122)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(600)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">600</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.59pt\"></span></span><span class=\"ps34766\">(478)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.55pt\"></span></span><span class=\"ps4561\">478<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE APR\u00c8S GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.35pt\"></span></span><span class=\"ps26354\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0212</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.66pt\"></span></span><span class=\"ps10515\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0215)</span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.1pt\"></span></span><span class=\"ps34767\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0788</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">977</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.66pt\"></span></span><span class=\"ps34768\">5\u00a0090<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.15pt\"></span></span><span class=\"ps28900\">(1\u00a0238)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11713 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Les passifs financiers se composent principalement du nominal des dettes long terme, des financements court terme, des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps11714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.04pt\">dettes sur biens lou\u00e9s et des concours bancaires.</span></div><div class=\"ps34770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 au risque de taux<span id=\"ic9e6dd87aba1437f8fc6bf5d5d0cda90\"></span></span></div><div class=\"ps19414 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:240.37pt\">L\u2019essentiel de la dette financi\u00e8re \u00e0 long terme est \u00e0 taux fixe au </span><span class=\"f charStyle-165dec60 ps34771\" style=\"width:67.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34772\" style=\"width:173.03pt\">. Les dettes \u00e0 taux fixe comptabilis\u00e9es au co\u00fbt</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">amorti ne rentrent pas dans le calcul de la sensibilit\u00e9 au risque de taux. L\u2019exposition du Groupe au risque de taux est donc</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:158.14pt\">limit\u00e9e \u00e0\u00a0son endettement \u00e0 taux variable.</span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">Ainsi une hausse instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat appliqu\u00e9e aux actifs et passifs financiers \u00e0 taux variable aurait les impacts</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:466.13pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, apr\u00e8s prise en compte des produits d\u00e9riv\u00e9s et avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34789 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:177.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34774 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-6bef0edd ps28487\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34775 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-ae6044e9 ps29910\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2186\"><div><div class=\"ps16333 ss2185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34777 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34780 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34781 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34782 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2188\"><div><div class=\"ps746 ss2185\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une variation de +\u00a01 % des taux </span></div><div class=\"ps748 ss2185\"><span class=\"f charStyle-044fe383 ps10\">d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34784 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.89pt\"></span></span><span class=\"ps34783\">(9)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34785 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34787 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.5pt\"></span></span><span class=\"ps34786\">(12)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34788 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:389.62pt\">, une diminution instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat aurait eu un impact favorable du m\u00eame montant.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-515": {
   "value": "<div><div id=\"i2875f4fbc551449b952701acfd85d7df_946\" style=\"position:absolute;top:87.87pt\"></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.1<span id=\"iaaab604da7aa4b348e9ac77525bcb9ff\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps1775\"><span style=\"display:inline-block;height:8.71pt;width:16.55pt\"></span></span><span class=\"ps29285\">M\u00e9thodes d'\u00e9valuation et j</span></span><span class=\"f charStyle-b11f9a65 ps32990\">uste valeur des actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps32992 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.1.1<span id=\"i7056fe5c2bea48e5a1ab1bf56bc4141e\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps32991\"><span style=\"display:inline-block;height:8.22pt;width:11.96pt\"></span></span><span class=\"ps29285\">M\u00e9thodes d\u2019\u00e9valuation</span></span></div><div class=\"ps33159 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:215.25pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:64.5pt\"></td><td style=\"padding:0;width:51.75pt\"></td><td style=\"padding:0;width:56.25pt\"></td><td style=\"padding:0;width:56.25pt\"></td></tr><tr style=\"height:24pt\"><td style=\"padding:0\"></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;border-right:0.5pt solid #ffffff;padding:0\"><div class=\"ps51 ss1444\"><div><div class=\"ps523 ss121\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps11426\">Valeur au bilan </span><span class=\"f charStyle-6bef0edd ps19256\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-6bef0edd ps32993\"> selon IFRS 9</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;border-left:0.5pt solid #ffffff;padding:0\"><div class=\"ps32995 ss77\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-6bef0edd ps32994\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss76\"><span class=\"f charStyle-6bef0edd ps9351\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps745 ss77\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-ae6044e9 ps32994\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss76\"><span class=\"f charStyle-ae6044e9 ps27393\">2024</span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss2078\"><div><div class=\"ps15630 ss698\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10475 ss1211\"><div><div class=\"ps4232 ss1016\"><span class=\"f charStyle-6bef0edd ps32996\">Co\u00fbt <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-6bef0edd ps3116\">amorti<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps32998 ss2079\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-6bef0edd ps22518\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss719\"><span class=\"f charStyle-6bef0edd ps32997\">par les autres </span></div><div class=\"ps4232 ss719\"><span class=\"f charStyle-6bef0edd ps13710\">\u00e9l\u00e9ments du <span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss719\"><span class=\"f charStyle-6bef0edd ps9777\">r\u00e9sultat global<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #ffffff;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps4239 ss2080\"><div><div class=\"ps523 ss804\"><span class=\"f charStyle-6bef0edd ps9863\">Juste <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss804\"><span class=\"f charStyle-6bef0edd ps27332\">valeur</span></div><div class=\"ps10417 ss804\"><span class=\"f charStyle-6bef0edd ps22478\">par r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #ffffff;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps32999 ss1208\"><div><div class=\"ps4232 ss76\"><span class=\"f charStyle-6bef0edd ps27337\">Valeur<span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss76\"><span class=\"f charStyle-6bef0edd ps15639\">au bilan<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33000 ss1208\"><div><div class=\"ps4232 ss76\"><span class=\"f charStyle-ae6044e9 ps27337\">Valeur<span class=\"f ps53\"> </span></span></div><div class=\"ps10417 ss76\"><span class=\"f charStyle-ae6044e9 ps15639\">au bilan<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33001 ss2081\"><div><div class=\"ps91 ss698\"><span class=\"f charStyle-8747f844 ps10\">ACTIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps31343 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Actifs financiers non courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22579 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placements long terme</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33003 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33005 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.85pt\"></span></span><span class=\"ps33004\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33007 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.49pt\"></span></span><span class=\"ps33006\">243<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33008 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.5pt\"></span></span><span class=\"ps28718\">272<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33009 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.24pt\"></span></span><span class=\"ps32324\">312<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33010 ss2081\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-2bf30bfd ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-51d104ca ps511\">Pr\u00eats et cr\u00e9ances \u00e0 long terme (y compris int\u00e9r\u00eats courus)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33011 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.25pt\"></span></span><span class=\"ps17738\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33012 ss725\"><div><div class=\"ps509 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33014 ss1862\"><div><div class=\"ps509 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33015 ss90\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.75pt\"></span></span><span class=\"ps31478\">27<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33017 ss90\"><div><div class=\"ps509 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.92pt\"></span></span><span class=\"ps33016\">25<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22675 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">D\u00e9p\u00f4ts et cautionnements</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33019 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.73pt\"></span></span><span class=\"ps33018\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33020 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33021 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33023 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.23pt\"></span></span><span class=\"ps33022\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33025 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.24pt\"></span></span><span class=\"ps33024\">34<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10539 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Autres actifs financiers non courants</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10543 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.66pt\"></span></span><span class=\"ps16504\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33026 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33027 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33029 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.16pt\"></span></span><span class=\"ps33028\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33031 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23968 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33032 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33033 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.96pt\"></span></span><span class=\"ps32624\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33034 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.69pt\"></span></span><span class=\"ps12739\">3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33036 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.46pt\"></span></span><span class=\"ps33035\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33038 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.91pt\"></span></span><span class=\"ps33037\">22<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24103 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33039 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33040 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33041 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33042 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33043 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8332 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Actifs sur retraite et engagements assimil\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33044 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33045 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.85pt\"></span></span><span class=\"ps33004\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33046 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33048 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.6pt\"></span></span><span class=\"ps33047\">29<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33050 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.49pt\"></span></span><span class=\"ps33049\">31<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8335 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances clients<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33052 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.34pt\"></span></span><span class=\"ps33051\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33053 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33054 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33055 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.84pt\"></span></span><span class=\"ps25977\">2\u00a0956<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33056 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.84pt\"></span></span><span class=\"ps25977\">2\u00a0656<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3516 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres actifs financiers courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11193 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33057 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33059 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.86pt\"></span></span><span class=\"ps33058\">65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33060 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33061 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.61pt\"></span></span><span class=\"ps31638\">65<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33063 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.78pt\"></span></span><span class=\"ps33062\">37<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33064 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s actifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33065 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33066 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33067 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.96pt\"></span></span><span class=\"ps32355\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33069 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.46pt\"></span></span><span class=\"ps33068\">21<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33071 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.2pt\"></span></span><span class=\"ps33070\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16697 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Int\u00e9r\u00eats courus et autres actifs financiers</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33072 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33073 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33075 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.1pt\"></span></span><span class=\"ps33074\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33076 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.6pt\"></span></span><span class=\"ps33047\">26<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33078 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.94pt\"></span></span><span class=\"ps33077\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps538 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33079 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33080 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4318 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.27pt\"></span></span><span class=\"ps33081\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33082 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.77pt\"></span></span><span class=\"ps32689\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33083 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.07pt\"></span></span><span class=\"ps345\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11222 ss2081\"><div><div class=\"ps91 ss698\"><span class=\"f charStyle-8747f844 ps10\">PASSIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps23717 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers non courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33084 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33085 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33086 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33087 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33088 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33089 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.91pt\"></span></span><span class=\"ps28527\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16737 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33090 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33091 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33092 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.21pt\"></span></span><span class=\"ps28476\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33093 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:47.71pt\"></span></span><span class=\"ps33030\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33094 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.16pt\"></span></span><span class=\"ps33028\">2<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps9890 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33095 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.23pt\"></span></span><span class=\"ps11467\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33096 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33097 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33098 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.73pt\"></span></span><span class=\"ps9877\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33100 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.35pt\"></span></span><span class=\"ps33099\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28702 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33103 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.4pt\"></span></span><span class=\"ps33102\">162<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33104 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33105 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33106 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.9pt\"></span></span><span class=\"ps28842\">162<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33107 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.71pt\"></span></span><span class=\"ps29964\">553<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28708 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne d'investissement)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33109 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.06pt\"></span></span><span class=\"ps33108\">444<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33110 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33111 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33112 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.56pt\"></span></span><span class=\"ps31150\">444<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33114 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.26pt\"></span></span><span class=\"ps33113\">540<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22817 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33116 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.76pt\"></span></span><span class=\"ps33115\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33117 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33118 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33119 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.26pt\"></span></span><span class=\"ps33113\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33120 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.96pt\"></span></span><span class=\"ps28883\">250<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10648 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33122 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.16pt\"></span></span><span class=\"ps33121\">879<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33123 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33124 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33126 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.66pt\"></span></span><span class=\"ps33125\">879<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33127 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.22pt\"></span></span><span class=\"ps29941\">763<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10649 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Dettes fournisseurs<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10652 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.41pt\"></span></span><span class=\"ps33128\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33129 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33130 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33132 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.91pt\"></span></span><span class=\"ps33131\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33133 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.96pt\"></span></span><span class=\"ps26136\">5\u00a0382<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28726 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Autres passifs financiers courants\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22718 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs avec comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33134 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33135 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.42pt\"></span></span><span class=\"ps32201\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33136 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33138 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.17pt\"></span></span><span class=\"ps33137\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33139 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.94pt\"></span></span><span class=\"ps33077\">32<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22721 ss2082\"><div><div class=\"ps509 ss698\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Instruments d\u00e9riv\u00e9s passifs sans comptabilit\u00e9 </span></div><div class=\"ps516 ss698\"><span class=\"f charStyle-044fe383 ps511\">de\u00a0couverture <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33140 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33141 ss720\"><div><div class=\"ps516 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33143 ss805\"><div><div class=\"ps516 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.7pt\"></span></span><span class=\"ps33142\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33144 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.2pt\"></span></span><span class=\"ps33070\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33145 ss86\"><div><div class=\"ps516 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.85pt\"></span></span><span class=\"ps31898\">9<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33146 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33147 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.16pt\"></span></span><span class=\"ps33121\">594<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33148 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33149 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.41pt\"></span></span><span class=\"ps33013\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33150 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.66pt\"></span></span><span class=\"ps33125\">594<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33151 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.72pt\"></span></span><span class=\"ps31095\">840<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33152 ss2081\"><div><div class=\"ps746 ss698\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33153 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.41pt\"></span></span><span class=\"ps33002\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33154 ss725\"><div><div class=\"ps746 ss719\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.16pt\"></span></span><span class=\"ps27532\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33155 ss1862\"><div><div class=\"ps746 ss804\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.97pt\"></span></span><span class=\"ps29988\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33157 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.47pt\"></span></span><span class=\"ps33156\">51<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33158 ss90\"><div><div class=\"ps746 ss76\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.46pt\"></span></span><span class=\"ps33035\">4<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.1.2<span id=\"ie74c6f16cded45ddb68faaaaa51e6189\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2082\"><span style=\"display:inline-block;height:8.22pt;width:10.28pt\"></span></span><span class=\"ps29285\">Estimation de la juste valeur</span></span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps33264 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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: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:15pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2083\"><div><div class=\"ps28770 ss296\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33179 ss2084\"><div><div class=\"ps509 ss127\"><span class=\"f charStyle-6bef0edd ps33178\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24068 ss2084\"><div><div class=\"ps509 ss127\"><span class=\"f charStyle-ae6044e9 ps33180\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33182 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps33181\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps16723\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33184 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-6bef0edd ps33183\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps23121\">de march\u00e9</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps16601 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-6bef0edd ps3297\">Niveau<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29894 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps33181\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps16723\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16419 ss2085\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-ae6044e9 ps33183\">Juste valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps23121\">de march\u00e9</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29897 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-ae6044e9 ps3297\">Niveau<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">ACTIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalent de <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-a696f64a ps10\">tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33186 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33187 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33189 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33188\">1-2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33191 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.35pt\"></span></span><span class=\"ps33190\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33192 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.35pt\"></span></span><span class=\"ps33190\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33193 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Instruments financiers d\u00e9riv\u00e9s </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33195 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.17pt\"></span></span><span class=\"ps33194\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33196 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.17pt\"></span></span><span class=\"ps33194\">90<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33198 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33200 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.95pt\"></span></span><span class=\"ps33199\">80<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33201 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.95pt\"></span></span><span class=\"ps33199\">80<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33202 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps772 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">PASSIFS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps773 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33203 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.01pt\"></span></span><span class=\"ps1960\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33204 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.05pt\"></span></span><span class=\"ps33185\">4\u00a0128<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33205 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33207 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.63pt\"></span></span><span class=\"ps33206\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps16843 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.31pt\"></span></span><span class=\"ps33208\">4\u00a0094<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33209 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps783 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33211 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.18pt\"></span></span><span class=\"ps33210\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33212 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.65pt\"></span></span><span class=\"ps531\">168<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16638 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33214 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.99pt\"></span></span><span class=\"ps33213\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33216 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.67pt\"></span></span><span class=\"ps33215\">563<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33217 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">europ\u00e9enne d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33219 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.84pt\"></span></span><span class=\"ps33218\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33220 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.96pt\"></span></span><span class=\"ps28665\">439<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33221 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33223 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.54pt\"></span></span><span class=\"ps33222\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33225 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.19pt\"></span></span><span class=\"ps33224\">519<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33226 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4601 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33227 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.54pt\"></span></span><span class=\"ps33222\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33228 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.79pt\"></span></span><span class=\"ps31565\">412<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33229 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33231 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.24pt\"></span></span><span class=\"ps33230\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33232 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.5pt\"></span></span><span class=\"ps28437\">251<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33233 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22992 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes financi\u00e8res \u00e0 long <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-a696f64a ps10\">terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33234 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">879<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33235 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">879<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33236 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33237 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">763<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33238 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">763<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33239 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32194 ss2087\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNTS COMPTABILIS\u00c9S <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss296\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a0CO\u00dbT\u00a0AMORTI</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33240 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.63pt\"></span></span><span class=\"ps28741\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33241 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.52pt\"></span></span><span class=\"ps27391\">6\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33242 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33243 ss2085\"><div><div class=\"ps523 ss592\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32pt\"></span></span><span class=\"ps31083\">6\u00a0190<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps3718 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33244 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">594<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33245 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.94pt\"></span></span><span class=\"ps29962\">594<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33246 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33247 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37pt\"></span></span><span class=\"ps5559\">840<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33248 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37pt\"></span></span><span class=\"ps5559\">840<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33249 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26238 ss297\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33250 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">51<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33251 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:44.75pt\"></span></span><span class=\"ps30002\">51<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33252 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33254 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.74pt\"></span></span><span class=\"ps33253\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33255 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.74pt\"></span></span><span class=\"ps33253\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33256 ss1550\"><div><div class=\"ps509 ss592\"><span class=\"f charStyle-a696f64a ps32829\">1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23303 ss2086\"><div><div class=\"ps746 ss296\"><span class=\"f charStyle-044fe383 ps10\">Instruments financiers d\u00e9riv\u00e9s </span></div><div class=\"ps748 ss296\"><span class=\"f charStyle-044fe383 ps10\">passifs\u00a0</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33257 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33258 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.88pt\"></span></span><span class=\"ps29907\">26<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33259 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33261 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.52pt\"></span></span><span class=\"ps33260\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33262 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.52pt\"></span></span><span class=\"ps33260\">43<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33263 ss1548\"><div><div class=\"ps516 ss592\"><span class=\"f charStyle-a696f64a ps33197\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps19728 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps18897\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps33277\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps33278\" style=\"width:163.59pt\">, cet impact pour le Groupe est n\u00e9gligeable.</span></div><div class=\"ps34061 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.4<span id=\"i9c9d10263c0442a8a1763b74476a7b26\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps8144\"><span style=\"display:inline-block;height:8.71pt;width:13.87pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><div class=\"ps16897 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span><span class=\"f charStyle-165dec60 ps34106\" style=\"width:1.96pt\"> </span></div><div class=\"ps14872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:481.2pt\">La responsabilit\u00e9 du recensement et de l\u2019\u00e9valuation des risques financiers rel\u00e8ve des entit\u00e9s op\u00e9rationnelles. En\u00a0revanche, la</span><span class=\"f charStyle-81993cb5 ps1231\" style=\"width:1.87pt\"> </span></div><div class=\"ps34110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:40.26pt\">couverture</span><span class=\"f charStyle-165dec60 ps34108\" style=\"width:12.03pt\"> et </span><span class=\"f charStyle-1abed7d4 ps34109\" style=\"width:428.94pt\">la gestion de ces risques par des produits d\u00e9riv\u00e9s est assur\u00e9e par la direction financi\u00e8re du Groupe pour le compte</span><span class=\"f charStyle-1abed7d4 ps1296\" style=\"width:1.93pt\"> </span></div><div class=\"ps26631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-1abed7d4 ps275\" style=\"width:76pt\">des filiales expos\u00e9es.</span></div><div class=\"ps26632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">Lors des Comit\u00e9s mensuels de Tr\u00e9sorerie, les principaux risques et expositions sont examin\u00e9s, la mise en \u0153uvre des couvertures</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps26633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:390.59pt\">est act\u00e9e (conform\u00e9ment \u00e0 la strat\u00e9gie d\u00e9crite ci\u2011apr\u00e8s) et les r\u00e9sultats de ces couvertures sont analys\u00e9s.</span></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">Pour r\u00e9duire son exposition aux risques de march\u00e9, le Groupe utilise des instruments financiers d\u00e9riv\u00e9s dont les justes valeurs</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.42pt\">aux </span><span class=\"f charStyle-165dec60 ps17827\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34111\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps34112\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps34113\" style=\"width:71.59pt\"> sont les suivantes\u00a0:</span></div><div class=\"ps6896 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:63.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:32.25pt\"></td><td style=\"padding:0;width:33pt\"></td><td style=\"padding:0;width:33.75pt\"></td><td style=\"padding:0;width:33pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:50.25pt\"></td></tr><tr style=\"height:23.25pt\"><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2133\"><div><div class=\"ps34114 ss188\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34117 ss2134\"><div><div class=\"ps34116 ss80\"><span class=\"f charStyle-55cd9955 ps34115\">Qualification <span class=\"f ps53\"> </span></span></div><div class=\"ps34114 ss80\"><span class=\"f charStyle-55cd9955 ps23262\">comptable</span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34120 ss2135\"><div><div class=\"ps34116 ss1082\"><span class=\"f charStyle-d47d3658 ps34118\">Nominal </span></div><div class=\"ps34114 ss1082\"><span class=\"f charStyle-d47d3658 ps141\">achat\u00a0</span><span class=\"f charStyle-c006c061 ps34119\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34124 ss2135\"><div><div class=\"ps34116 ss1082\"><span class=\"f charStyle-b2b6bcc2 ps34121\">Nominal</span></div><div class=\"ps34114 ss1082\"><span class=\"f charStyle-b2b6bcc2 ps34122\">vente\u00a0</span><span class=\"f charStyle-99673b26 ps34123\"><span class=\"f ps53\"> </span><sup>(1)</sup></span><span class=\"f charStyle-b2b6bcc2 ps31170\"> <span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3739 ss2136\"><div><div class=\"ps34116 ss1016\"><span class=\"f charStyle-55cd9955 ps34125\">R\u00e9serves<span class=\"f ps53\"> </span></span></div><div class=\"ps34114 ss1016\"><span class=\"f charStyle-55cd9955 ps34126\">OCI<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34128 ss1229\"><div><div class=\"ps4496 ss696\"><span class=\"f charStyle-2d71864b ps34127\">Autres actifs <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss696\"><span class=\"f charStyle-2d71864b ps3480\">financiers</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34130 ss894\"><div><div class=\"ps4496 ss870\"><span class=\"f charStyle-2d71864b ps10626\">Autres passifs <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss870\"><span class=\"f charStyle-2d71864b ps34129\">financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30900 ss1602\"><div><div class=\"ps4496 ss379\"><span class=\"f charStyle-d606841d ps34131\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss379\"><span class=\"f charStyle-d606841d ps34132\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps15974 ss1602\"><div><div class=\"ps4496 ss379\"><span class=\"f charStyle-2d71864b ps34131\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss379\"><span class=\"f charStyle-2d71864b ps16363\">2024</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34135 ss1269\"><div><div class=\"ps4496 ss1112\"><span class=\"f charStyle-e42585e9 ps34133\">Non <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss1112\"><span class=\"f charStyle-e42585e9 ps34134\">courant</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34137 ss279\"><div><div class=\"ps4498 ss61\"><span class=\"f charStyle-e42585e9 ps34136\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34138 ss2044\"><div><div class=\"ps4496 ss1084\"><span class=\"f charStyle-e42585e9 ps29092\">Non <span class=\"f ps53\"> </span></span></div><div class=\"ps4498 ss1084\"><span class=\"f charStyle-e42585e9 ps16788\">courant</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34139 ss279\"><div><div class=\"ps4498 ss61\"><span class=\"f charStyle-e42585e9 ps34136\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34140 ss1602\"><div><div class=\"ps4498 ss379\"><span class=\"f charStyle-29e40c79 ps1427\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34141 ss1602\"><div><div class=\"ps4498 ss379\"><span class=\"f charStyle-e42585e9 ps1427\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps23243 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Contrats \u00e0 terme </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34142 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34143 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.81pt\"></span></span><span class=\"ps15878\">647<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34144 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.39pt\"></span></span><span class=\"ps10557\">(226)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34145 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.54pt\"></span></span><span class=\"ps31360\">46<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34146 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.59pt\"></span></span><span class=\"ps23545\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34148 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.49pt\"></span></span><span class=\"ps34147\">48<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34150 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34152 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.54pt\"></span></span><span class=\"ps34151\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34153 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.96pt\"></span></span><span class=\"ps26117\">46<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34154 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.27pt\"></span></span><span class=\"ps7588\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps522 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Contrats \u00e0 terme </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34155 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34156 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.83pt\"></span></span><span class=\"ps32261\">572<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34158 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.29pt\"></span></span><span class=\"ps34157\">(513)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34160 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34162 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34163 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.8pt\"></span></span><span class=\"ps535\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34164 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34166 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.2pt\"></span></span><span class=\"ps34165\">(6)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34168 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34170 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.59pt\"></span></span><span class=\"ps34169\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">CHANGE </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">OP\u00c9RATIONNEL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34173 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.9pt\"></span></span><span class=\"ps34172\">1\u00a0219<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34174 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.38pt\"></span></span><span class=\"ps22847\">(739)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34175 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.12pt\"></span></span><span class=\"ps9861\">46<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34176 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.35pt\"></span></span><span class=\"ps737\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34178 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.32pt\"></span></span><span class=\"ps34177\">53<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34179 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34181 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.78pt\"></span></span><span class=\"ps34180\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30941 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.85pt\"></span></span><span class=\"ps31258\">45<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30943 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.59pt\"></span></span><span class=\"ps34182\">25<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34183 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34184 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.96pt\"></span></span><span class=\"ps3491\">1\u00a0046<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34186 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.68pt\"></span></span><span class=\"ps34185\">(1\u00a0046)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34187 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34188 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34190 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.96pt\"></span></span><span class=\"ps34189\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34192 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.81pt\"></span></span><span class=\"ps34191\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34193 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.02pt\"></span></span><span class=\"ps20783\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34194 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.04pt\"></span></span><span class=\"ps31539\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34195 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.81pt\"></span></span><span class=\"ps32160\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Contrats \u00e0 terme <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-12ac666e ps10\">de\u00a0devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34196 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34198 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.81pt\"></span></span><span class=\"ps34197\">9<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34200 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.46pt\"></span></span><span class=\"ps34199\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34201 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34202 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34204 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34205 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34206 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34208 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34209 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26428 ss2137\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">Cross currency </span></div><div class=\"ps748 ss188\"><span class=\"f charStyle-ee5c6619 ps10\">swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34210 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34211 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.05pt\"></span></span><span class=\"ps3785\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34212 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.77pt\"></span></span><span class=\"ps3902\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34213 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34214 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34215 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34216 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34217 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34218 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34219 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11173 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">CHANGE </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34221 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.64pt\"></span></span><span class=\"ps34220\">1\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34223 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.52pt\"></span></span><span class=\"ps34222\">(1\u00a0094)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11178 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34224 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34225 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.51pt\"></span></span><span class=\"ps23465\">16<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34226 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.36pt\"></span></span><span class=\"ps27245\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34227 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.35pt\"></span></span><span class=\"ps22516\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34229 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.87pt\"></span></span><span class=\"ps34228\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34230 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.44pt\"></span></span><span class=\"ps26213\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8749 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34231 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34233 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.22pt\"></span></span><span class=\"ps34232\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34234 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34235 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.11pt\"></span></span><span class=\"ps15673\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34236 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34237 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.11pt\"></span></span><span class=\"ps16600\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34238 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34239 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.51pt\"></span></span><span class=\"ps31004\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34240 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.53pt\"></span></span><span class=\"ps29931\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34242 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.79pt\"></span></span><span class=\"ps34241\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:42pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22685 ss2138\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE </span></div><div class=\"ps28281 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">MATI\u00c8RES </span></div><div class=\"ps34171 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">PREMI\u00c8RES</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34244 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.6pt\"></span></span><span class=\"ps34243\">216<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34245 ss2139\"><div><div class=\"ps10417 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.18pt\"></span></span><span class=\"ps3522\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34247 ss1211\"><div><div class=\"ps10417 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.65pt\"></span></span><span class=\"ps34246\">15<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34248 ss1744\"><div><div class=\"ps10417 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34250 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.63pt\"></span></span><span class=\"ps34249\">17<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34251 ss2060\"><div><div class=\"ps10417 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34253 ss2140\"><div><div class=\"ps10417 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.13pt\"></span></span><span class=\"ps34252\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34255 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.07pt\"></span></span><span class=\"ps34254\">15<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34256 ss2141\"><div><div class=\"ps10417 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.36pt\"></span></span><span class=\"ps1890\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23431 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34257 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps34134\">Cash flow hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34258 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34259 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.87pt\"></span></span><span class=\"ps10809\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34260 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34261 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34262 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34263 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34264 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34265 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.79pt\"></span></span><span class=\"ps34207\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34266 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.59pt\"></span></span><span class=\"ps34169\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34267 ss2142\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-12ac666e ps10\">Swaps<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34268 ss92\"><div><div class=\"ps509 ss80\"><span class=\"f charStyle-232ab7e6 ps4529\">Fair value hedge<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34269 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.25pt\"></span></span><span class=\"ps29036\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34271 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34272 ss1017\"><div><div class=\"ps509 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34274 ss1677\"><div><div class=\"ps509 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.07pt\"></span></span><span class=\"ps34273\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34275 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34276 ss1118\"><div><div class=\"ps509 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34277 ss2143\"><div><div class=\"ps509 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34278 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.07pt\"></span></span><span class=\"ps24124\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34279 ss404\"><div><div class=\"ps509 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.05pt\"></span></span><span class=\"ps25685\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3586 ss2137\"><div><div class=\"ps1114 ss188\"><span class=\"f charStyle-12ac666e ps10\">Cross currency <span class=\"f ps53\"> </span></span></div><div class=\"ps1306 ss188\"><span class=\"f charStyle-12ac666e ps10\">swap<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34280 ss88\"><div><div class=\"ps516 ss80\"><span class=\"f charStyle-232ab7e6 ps1878\">Trading<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34281 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.05pt\"></span></span><span class=\"ps3785\">22<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34282 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.77pt\"></span></span><span class=\"ps3902\">(22)<span style=\"display:inline-block;height:7.26pt;width:0.4pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34283 ss1023\"><div><div class=\"ps516 ss1016\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34284 ss1269\"><div><div class=\"ps516 ss1112\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.79pt\"></span></span><span class=\"ps34161\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34285 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34286 ss2044\"><div><div class=\"ps516 ss1084\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34287 ss279\"><div><div class=\"ps516 ss61\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.06pt\"></span></span><span class=\"ps31075\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34288 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34289 ss1602\"><div><div class=\"ps516 ss379\"><span class=\"f charStyle-0e45555a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.31pt\"></span></span><span class=\"ps34167\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.48pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34290 ss2144\"><div><div class=\"ps746 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">INSTRUMENTS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss188\"><span class=\"f charStyle-c54ebfdb ps10\">D\u00c9RIV\u00c9S DE TAUX</span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34291 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.12pt\"></span></span><span class=\"ps23683\">622<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34292 ss2012\"><div><div class=\"ps523 ss1082\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.63pt\"></span></span><span class=\"ps29148\">(622)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34293 ss1177\"><div><div class=\"ps523 ss1016\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.37pt\"></span></span><span class=\"ps34159\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34295 ss1293\"><div><div class=\"ps523 ss1112\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.85pt\"></span></span><span class=\"ps34294\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34296 ss2145\"><div><div class=\"ps523 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.54pt\"></span></span><span class=\"ps34203\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34297 ss2146\"><div><div class=\"ps523 ss1084\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.29pt\"></span></span><span class=\"ps34149\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34299 ss2145\"><div><div class=\"ps523 ss61\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.61pt\"></span></span><span class=\"ps34298\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.26pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34300 ss397\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.87pt\"></span></span><span class=\"ps34228\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34301 ss397\"><div><div class=\"ps523 ss379\"><span class=\"f charStyle-c54ebfdb\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"4\" style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps26154 ss2148\"><div><div class=\"ps746 ss2147\"><span class=\"f charStyle-f573b8b5 ps10\">TOTAL INSTRUMENTS FINANCIERS D\u00c9RIV\u00c9S<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34303 ss1677\"><div><div class=\"ps746 ss1112\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.04pt\"></span></span><span class=\"ps34302\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34304 ss2143\"><div><div class=\"ps746 ss61\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.35pt\"></span></span><span class=\"ps22516\">86<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34306 ss1118\"><div><div class=\"ps746 ss1084\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.18pt\"></span></span><span class=\"ps34305\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34307 ss2143\"><div><div class=\"ps746 ss61\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.6pt\"></span></span><span class=\"ps33767\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.18pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34308 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">64<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34309 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-f573b8b5\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.21pt\"></span></span><span class=\"ps18602\">37<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:241.76pt\">Les nominaux des instruments d\u00e9riv\u00e9s sont exprim\u00e9s en \u00e9quivalent euros.</span></div><div class=\"ps34311 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de contrepartie bancaire<span id=\"i4e57b1fc075f4333857ffbf77214d0a5\"></span></span></div><div class=\"ps3054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.32pt\">Le Groupe traite ses instruments d\u00e9riv\u00e9s avec des</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps3008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:54.67pt\">\u00e9tablissements</span><span class=\"f charStyle-165dec60 ps34312\" style=\"width:174.6pt\"> bancaires de premier rang et r\u00e9alise un suivi</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps3009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:128.37pt\">r\u00e9gulier du risque de contrepartie.</span><span class=\"f charStyle-165dec60 ps34313\" style=\"width:1.96pt\"> </span></div><div class=\"ps34314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.1<span id=\"ie16a3f3bf3e8401cb4ae518ccdeafc12\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps19284\"><span style=\"display:inline-block;height:8.22pt;width:9.44pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de change</span></span></div><div class=\"ps34315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de change op\u00e9rationnel<span id=\"i2bbd139a823b4a69bb4a56a91ca93d4e\"></span></span></div><div class=\"ps34316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Les filiales du Groupe sont expos\u00e9es au risque de change</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dans le cadre de leurs activit\u00e9s industrielles et commerciales.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Ces risques et les couvertures aff\u00e9rentes sont suivis par la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:211.94pt\">Direction du Financement et de la Tr\u00e9sorerie du Groupe.</span><span class=\"f charStyle-165dec60 ps34319\" style=\"width:1.96pt\"> </span></div><div class=\"ps34321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">L\u2019exposition bilantielle (cr\u00e9ances et dettes non financi\u00e8res</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">inscrites au bilan en devises \u00e9trang\u00e8res) est couverte de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">fa\u00e7on syst\u00e9matique. Les couvertures des filiales sont</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">r\u00e9alis\u00e9es principalement aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re Valeo, qui</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">\u00e0 son tour couvre les positions nettes du Groupe aupr\u00e8s de</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:56.49pt\"><span style=\"background-color:inherit\">contreparties </span></span><span class=\"f charStyle-b26c2267 ps27780\" style=\"width:172.83pt\"><span style=\"background-color:inherit\">externes. Les produits d\u00e9riv\u00e9s de change</span></span><span class=\"f charStyle-b26c2267 ps431\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:88.96pt\"><span style=\"background-color:inherit\">correspondants n'\u00e9tant</span></span><span class=\"f charStyle-68ecf294 ps34327\" style=\"width:140.35pt\"><span style=\"background-color:inherit\"> pas d\u00e9sign\u00e9s dans une relation de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">couverture comptable sont qualifi\u00e9s d\u2019instruments de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19438 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps275\" style=\"width:30.37pt\"><span style=\"background-color:inherit\">trading </span></span><span class=\"f charStyle-68ecf294 ps34330\" style=\"width:110.3pt\"><span style=\"background-color:inherit\">d'un point de vue comptable.</span></span><span class=\"f charStyle-68ecf294 ps12083\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le Groupe couvre \u00e9galement sa marge op\u00e9rationnelle</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">contre le risque de change, sur un horizon budg\u00e9taire de</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">fa\u00e7on r\u00e9guli\u00e8re et sur un horizon contractuel de fa\u00e7on</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:111.94pt\"><span style=\"background-color:inherit\">exceptionnelle pour des c</span></span><span class=\"f charStyle-5bbe5a0c ps27771\" style=\"width:117.34pt\"><span style=\"background-color:inherit\">ontrats pr\u00e9cis significatifs. Les</span></span><span class=\"f charStyle-5bbe5a0c ps610\" style=\"width:1.66pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5bbe5a0c ps275\" style=\"width:143.23pt\"><span style=\"background-color:inherit\">principaux instruments de couverture </span></span><span class=\"f charStyle-68ecf294 ps34335\" style=\"width:86.05pt\"><span style=\"background-color:inherit\">auxquels le Groupe a</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:170.69pt\"><span style=\"background-color:inherit\">habituellement recours sont les achats et </span></span><span class=\"f charStyle-6b8e39ee ps34337\" style=\"width:58.64pt\"><span style=\"background-color:inherit\">ventes \u00e0 terme</span></span><span class=\"f charStyle-6b8e39ee ps412\" style=\"width:1.81pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6b8e39ee ps275\" style=\"width:216.7pt\"><span style=\"background-color:inherit\">fermes en devises. Dans ce cas, le Groupe applique</span></span><span class=\"f charStyle-68ecf294 ps34339\" style=\"width:12.6pt\"><span style=\"background-color:inherit\"> la</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:205.3pt\"><span style=\"background-color:inherit\">comptabilit\u00e9 de couverture de flux futurs de tr\u00e9sorerie.</span></span></div><div class=\"ps13143 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">Elle est d\u00e9termin\u00e9e par la technique de valorisation</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps13144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">suivante\u00a0: les flux de tr\u00e9sorerie futurs sont calcul\u00e9s en</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">utilisant les cours de change \u00e0 terme \u00e0 la date de cl\u00f4ture, et</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">sont actualis\u00e9s au taux d\u2019int\u00e9r\u00eat de la devise de valorisation.</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:177.36pt\"><span style=\"background-color:inherit\">Cette technique de valorisation est de niveau 2.</span></span></div><div class=\"ps5148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">Au </span></span><span class=\"f charStyle-165dec60 ps34342\" style=\"width:67.74pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps31597\" style=\"width:149.08pt\"><span style=\"background-color:inherit\">, la part inefficace li\u00e9e \u00e0 ces couvertures</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps5149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:173.68pt\"><span style=\"background-color:inherit\">est n\u00e9gligeable, comme au 31 d\u00e9cembre 2024.</span></span><span class=\"f charStyle-68ecf294 ps34343\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34344 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de change financier<span class=\"f ps53\"> </span><span id=\"ifa9c8a40627c475c9caa305c6b1a9456\"></span></span></div><div class=\"ps34345 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">La centralisation des exc\u00e9dents de tr\u00e9sorerie, les besoins de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">financement des filiales \u00e9trang\u00e8res et certaines op\u00e9rations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.54pt\">de </span><span class=\"f charStyle-81f42323 ps34347\" style=\"width:215.72pt\">financement exposent le Groupe \u00e0 un risque de change</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps34350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:31.25pt\">financier</span><span class=\"f charStyle-165dec60 ps34349\" style=\"width:198.07pt\"> (risque li\u00e9 \u00e0 la variation de valeur de dettes ou de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.15pt\">cr\u00e9ances </span><span class=\"f charStyle-81f42323 ps34351\" style=\"width:192.16pt\">financi\u00e8res libell\u00e9es en devises autres que la devise</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps34354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:47.16pt\">fonctionnelle</span><span class=\"f charStyle-165dec60 ps34353\" style=\"width:182.11pt\"> de l\u2019entit\u00e9 emprunteuse ou pr\u00eateuse). Ce risque</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps7248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.41pt\">de change est couvert essentiellement via des </span><span class=\"f charStyle-e8054d08 ps34355\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34356\" style=\"width:13.84pt\"> de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps7249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.12pt\">devises.</span></div><div class=\"ps34357 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe finance usuellement ses filiales dans leurs propres</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34358 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:229.31pt\">devises et se couvre syst\u00e9matiquement contre le risque de</span><span class=\"f charStyle-b2f078f6 ps460\" style=\"width:1.83pt\"> </span></div><div class=\"ps34360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:27.66pt\">change</span><span class=\"f charStyle-165dec60 ps34359\" style=\"width:55.01pt\"> qui en r\u00e9sulte.</span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Par ailleurs, les financements externes du Groupe sont, en</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">r\u00e8gle g\u00e9n\u00e9rale, libell\u00e9s en euros, notamment pour les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:211.55pt\">\u00e9missions obligataires sous programme EMTN (</span><span class=\"f charStyle-e8054d08 ps34361\" style=\"width:17.75pt\">Euro</span><span class=\"f charStyle-e8054d08 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:73.83pt\">Medium Term Note</span><span class=\"f charStyle-165dec60 ps34362\" style=\"width:4.05pt\">).</span></div><div class=\"ps34363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le gain latent de 2 millions d\u2019euros porte principalement sur</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:13.69pt\"><span style=\"background-color:inherit\">les </span></span><span class=\"f charStyle-bec71f61 ps34364\" style=\"width:24.07pt\"><span style=\"background-color:inherit\">swaps</span></span><span class=\"f charStyle-68ecf294 ps34365\" style=\"width:191.51pt\"><span style=\"background-color:inherit\"> de devises relatifs aux couvertures des comptes</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:124.82pt\"><span style=\"background-color:inherit\">courants et bancaires du Groupe.</span></span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition nette globale du Groupe<span id=\"i7f965bab3bbe488b8bb37f2d597fd955\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:272.27pt\">L\u2019exposition nette globale du Groupe (sur les positions bilantielles) au </span><span class=\"f charStyle-81993cb5 ps34368\" style=\"width:69.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81993cb5 ps34369\" style=\"width:139.42pt\">, bas\u00e9e sur les montants notionnels,</span><span class=\"f charStyle-81993cb5 ps1722\" style=\"width:1.87pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:47.45pt\">se\u00a0concentre</span><span class=\"f charStyle-165dec60 ps29032\" style=\"width:290.35pt\"> sur les principales devises suivantes (hors devises fonctionnelles des entit\u00e9s)\u00a0:</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss2150\"><div><div class=\"ps9316 ss2149\"><span class=\"f charStyle-6bef0edd ps34370\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34373 ss2151\"><div><div class=\"ps9316 ss970\"><span class=\"f charStyle-98f46611 ps34371\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34372\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9317 ss2152\"><div><div class=\"ps34374 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34375 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps28834\">USD<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34376 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps9334\">CNY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34377 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps29149\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34378 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps23388\">JPY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34379 ss2153\"><div><div class=\"ps9319 ss208\"><span class=\"f charStyle-6bef0edd ps16616\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps32314\">devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34381 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps34380\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34383 ss2154\"><div><div class=\"ps9321 ss970\"><span class=\"f charStyle-ae6044e9 ps34382\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34384 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs commerciaux expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34386 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.88pt\"></span></span><span class=\"ps34385\">(141)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34388 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.26pt\"></span></span><span class=\"ps34387\">(97)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34389 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.01pt\"></span></span><span class=\"ps30894\">(267)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34390 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.2pt\"></span></span><span class=\"ps31002\">(28)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34391 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.97pt\"></span></span><span class=\"ps31180\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34392 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">(552)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34394 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.3pt\"></span></span><span class=\"ps34393\">(587)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs financiers expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34395 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">(416)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34396 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.43pt\"></span></span><span class=\"ps24061\">(1\u00a0313)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34397 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">49<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34398 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">(153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34399 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">720<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34401 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.95pt\"></span></span><span class=\"ps34400\">(1\u00a0113)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34402 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.82pt\"></span></span><span class=\"ps30659\">(1\u00a0832)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE BRUTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34403 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.45pt\"></span></span><span class=\"ps33612\">(557)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25916 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.77pt\"></span></span><span class=\"ps34404\">(1\u00a0410)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34405 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.71pt\"></span></span><span class=\"ps11374\">(218)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34406 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.19pt\"></span></span><span class=\"ps3626\">(181)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34408 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.01pt\"></span></span><span class=\"ps34407\">701<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34410 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.96pt\"></span></span><span class=\"ps34409\">(1\u00a0665)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34412 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.11pt\"></span></span><span class=\"ps34411\">(2\u00a0419)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10856 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s de change </span><span class=\"f charStyle-4da12822 ps34413\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34414 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.94pt\"></span></span><span class=\"ps14346\">549<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34416 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.47pt\"></span></span><span class=\"ps34415\">1\u00a0386<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34417 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.23pt\"></span></span><span class=\"ps10533\">(38)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34418 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">177<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34419 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.17pt\"></span></span><span class=\"ps23605\">(741)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34420 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.37pt\"></span></span><span class=\"ps4556\">1\u00a0333<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34422 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.81pt\"></span></span><span class=\"ps34421\">2\u00a0200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34423 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE NETTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34425 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.07pt\"></span></span><span class=\"ps34424\">(8)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34426 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.44pt\"></span></span><span class=\"ps11138\">(24)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34428 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.37pt\"></span></span><span class=\"ps34427\">(256)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34429 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.86pt\"></span></span><span class=\"ps3374\">(4)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34431 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.77pt\"></span></span><span class=\"ps34430\">(40)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34433 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.72pt\"></span></span><span class=\"ps34432\">(332)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34434 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.39pt\"></span></span><span class=\"ps29596\">(219)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.07pt\">hors instruments d\u00e9riv\u00e9s de couverture de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34439 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:53.56pt\">au 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34438\" style=\"width:15.97pt\">2024</span></div><div class=\"ps34440 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.18pt\">Dans le tableau ci-dessus, la colonne libell\u00e9e EUR correspond \u00e0 l\u2019exposition nette euro des entreprises du Groupe dont la</span><span class=\"f charStyle-165dec60 ps1225\" style=\"width:1.96pt\"> </span></div><div class=\"ps34441 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro. Il existe notamment une exposition des filiales localis\u00e9es en Europe centrale et dans le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:281.57pt\">bassin m\u00e9diterran\u00e9en, qui se financent en euros aupr\u00e8s de la soci\u00e9t\u00e9 Valeo.</span><span class=\"f charStyle-165dec60 ps19744\" style=\"width:1.96pt\"> </span></div><div class=\"ps34443 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-ebecb6c1 ps275\">Analyse de sensibilit\u00e9 de l\u2019exposition nette au risque de change<span id=\"id807047dcfdb40f4ab8040cb86a3265b\"></span></span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.18pt\"><span style=\"background-color:inherit\">Les cours de change retenus pour le dollar am\u00e9ricain, pour le yen japonais et pour le renminbi chinois s\u2019\u00e9tablissent</span></span><span class=\"f charStyle-68ecf294 ps1225\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:209.44pt\"><span style=\"background-color:inherit\">respectivement pour 1 euro \u00e0 1,175, 184,09 et 8,2262 au\u00a0</span></span><span class=\"f charStyle-165dec60 ps27923\" style=\"width:68.84pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34444\" style=\"width:202.97pt\"><span style=\"background-color:inherit\"> contre 1,0389 pour le dollar am\u00e9ricain, 163,06 pour le</span></span><span class=\"f charStyle-68ecf294 ps719\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:189.02pt\"><span style=\"background-color:inherit\">yen japonais et 7,5833 pour le renminbi chinois au </span></span><span class=\"f charStyle-165dec60 ps34445\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps34446\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:151.5pt\">Une appr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps34447\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34448\" style=\"width:26.39pt\"> et au </span><span class=\"f charStyle-165dec60 ps34449\" style=\"width:70.49pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps34450\" style=\"width:163.11pt\"> par rapport \u00e0 ces devises aurait les effets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:293.04pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34462 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps10311 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-98f46611 ps25704\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34452\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2157\"><div><div class=\"ps16333 ss666\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10314 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps8015 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-873f2209 ps34454\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-98f46611 ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-d93fd2c0 ps34454\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32820 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34455 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au yen japonais<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32827 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34456 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.15pt\"></span></span><span class=\"ps34457\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-044fe383 ps10\">Exposition au renminbi chinois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32835 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34458 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.16pt\"></span></span><span class=\"ps28393\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition \u00e0 l'euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32844 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.91pt\"></span></span><span class=\"ps27904\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34459 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.14pt\"></span></span><span class=\"ps27880\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11367 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32852 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.12pt\"></span></span><span class=\"ps34460\">(22)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34461 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">(3)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(19)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.55pt\"></span></span><span class=\"ps11842\">(5)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">les chiffres pr\u00e9sent\u00e9s correspondent \u00e0 la sensibilit\u00e9 des autres \u00e9l\u00e9ments du r\u00e9sultat global li\u00e9e \u00e0 une \u00e9volution des instruments de couverture</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps34464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:125.23pt\">de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34465 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:69.53pt\">au 31 d\u00e9cembre 2024</span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Pour les besoins de ces analyses, toutes les autres variables,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">en particulier les taux d\u2019int\u00e9r\u00eats, sont suppos\u00e9es rester</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.01pt\">Une d\u00e9pr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps9638\" style=\"width:68.38pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34468\" style=\"width:14.92pt\"> par</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">rapport \u00e0 ces devises aurait l\u2019effet inverse en faisant</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">l\u2019hypoth\u00e8se que toutes les autres variables restent</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps19803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les effets des variations des taux de change sur la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">conversion en euro du montant des actifs nets sont refl\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:180.96pt\">dans les capitaux propres consolid\u00e9s du Groupe.</span></div><div class=\"ps12401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">De nombreuses entit\u00e9s du Groupe sont situ\u00e9es hors de la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34469 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">zone euro. La devise de pr\u00e9sentation des \u00e9tats financiers de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34470 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Valeo \u00e9tant l'euro, les \u00e9tats financiers de ses filiales sont</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34471 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">convertis en euros pour la pr\u00e9paration des \u00e9tats financiers</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34472 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">consolid\u00e9s. Dans le cadre de sa gestion du risque de change,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">le Groupe consid\u00e8re que ses investissements dans ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s \u00e9trang\u00e8res sont permanents. Les effets des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">fluctuations des taux de change sur la conversion des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps18064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">montants nets des actifs en euros sont refl\u00e9t\u00e9s dans la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps18065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:147.83pt\">situation nette consolid\u00e9e de la soci\u00e9t\u00e9.</span></div><div class=\"ps34473 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Par ailleurs, les op\u00e9rations de financements entre deux</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">entit\u00e9s du Groupe ayant des devises fonctionnelles</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">diff\u00e9rentes sont de nature \u00e0\u00a0 exposer le r\u00e9sultat de Valeo au</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">risque de change. Pour se pr\u00e9munir contre ce risque, le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe peut \u00eatre amen\u00e9 \u00e0 contracter des instruments</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u00e9riv\u00e9s. Les op\u00e9rations de financement intragroupes faisant</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps15322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l\u2019objet d\u2019une \u00e9limination dans les comptes consolid\u00e9s du</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps15323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Groupe, les variations de valeur de ces instruments de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">couverture sont susceptibles d\u2019avoir une incidence sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps15325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:112.38pt\">l\u2019endettement net du Groupe.</span><span class=\"f charStyle-165dec60 ps34479\" style=\"width:1.96pt\"> </span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s de change<span id=\"ifd1a9b59195e44118cc2cd75d31ddeef\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.33pt\">Les cours de cl\u00f4ture de la Banque centrale europ\u00e9enne (BCE) et les taux <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps34480\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps34481\" style=\"width:13.92pt\"> au </span><span class=\"f charStyle-165dec60 ps34482\" style=\"width:68pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34483\" style=\"width:92.95pt\"> ont \u00e9t\u00e9 retenus pour les</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.9pt\">instruments financier</span><span class=\"f charStyle-68ecf294 ps34484\" style=\"width:76.2pt\"><span style=\"background-color:inherit\">s relatifs au change :</span></span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></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><td style=\"padding:0;width:44.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34489 ss2158\"><div><div class=\"ps34486 ss1241\"><span class=\"f charStyle-6bef0edd ps34485\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss1241\"><span class=\"f charStyle-6bef0edd ps34487\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps32073 ss1461\"><div><div class=\"ps509 ss1458\"><span class=\"f charStyle-6bef0edd ps34490\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps23157 ss2159\"><div><div class=\"ps34488 ss387\"><span class=\"f charStyle-6bef0edd ps29952\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34491 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps11418\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34493 ss2161\"><div><div class=\"ps509 ss2160\"><span class=\"f charStyle-ae6044e9 ps34492\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps18555 ss1338\"><div><div class=\"ps509 ss1241\"><span class=\"f charStyle-ae6044e9 ps4515\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2163\"><div><div class=\"ps16333 ss2162\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34494 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps14424\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34495 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34298\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13681 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34496\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34497 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps10154\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34499 ss1291\"><div><div class=\"ps509 ss1241\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps34498\">2031</span><span class=\"f charStyle-98f46611 ps28741\"> et </span></div><div class=\"ps523 ss1241\"><span class=\"f charStyle-98f46611 ps16621\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2164\"><div><div class=\"ps15656 ss2162\"><span class=\"f charStyle-044fe383 ps10\">Contrats de change \u00e0 </span></div><div class=\"ps13845 ss2162\"><span class=\"f charStyle-044fe383 ps10\">terme utilis\u00e9s comme </span></div><div class=\"ps15657 ss2162\"><span class=\"f charStyle-044fe383 ps10\">couverture\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16837 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34500 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.97pt\"></span></span><span class=\"ps9752\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34502 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.7pt\"></span></span><span class=\"ps34501\">53<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34503 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.21pt\"></span></span><span class=\"ps26757\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34505 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34506 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34507 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34508 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34509 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34510 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34511 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34512 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34513 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34514 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34515 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34516 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34518 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.39pt\"></span></span><span class=\"ps34517\">(9)</span></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss2169\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-373e86b9 ps10\">Swaps</span><span class=\"f charStyle-044fe383 ps9416\"> de devise utilis\u00e9s </span></div><div class=\"ps34519 ss2162\"><span class=\"f charStyle-044fe383 ps10\">comme couverture :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26205 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34520 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34521 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34522 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34523 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34524 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34525 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34526 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34527 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.15pt\"></span></span><span class=\"ps10935\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34529 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34530 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34531 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34532 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34533 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34534 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34535 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34536 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.03pt\"></span></span><span class=\"ps358\">(13)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34537 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.2<span id=\"ied6f756cc13447c88d404fc067ae2977\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps21101\"><span style=\"display:inline-block;height:8.22pt;width:7.76pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s mati\u00e8res </span></span></div><div class=\"ps34538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">(m\u00e9taux\u00a0non\u00a0ferreux)</span></div><div class=\"ps34539 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de mati\u00e8res premi\u00e8res<span id=\"i5e94a017c5bf4069a11a3c272f74f99a\"></span></span></div><div class=\"ps633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe g\u00e8re son exposition aux mati\u00e8res premi\u00e8res en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">mettant en place, chaque fois que cela est possible, des</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4042 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.8pt\">clauses </span><span class=\"f charStyle-81f42323 ps34540\" style=\"width:197.47pt\">d\u2019indexation de ses prix de vente dans les contrats</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps4044 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:51.47pt\">commerciaux.</span><span class=\"f charStyle-165dec60 ps34541\" style=\"width:177.86pt\"> C\u2019est notamment le cas pour les m\u00e9taux non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">ferreux et l\u2019acier pour lesquels ces clauses couvrent plus de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4049 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:73.47pt\">80% de l\u2019exposition.</span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">L\u2019exposition aux m\u00e9taux non ferreux, cot\u00e9s principalement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.6pt\">sur le </span><span class=\"f charStyle-e8054d08 ps34542\" style=\"width:101.5pt\">London Metal Exchange </span><span class=\"f charStyle-165dec60 ps34543\" style=\"width:64.03pt\">(LME) et sur le </span><span class=\"f charStyle-e8054d08 ps34544\" style=\"width:37.12pt\">Shanghai</span><span class=\"f charStyle-e8054d08 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:71.68pt\">Futures Exchange</span><span class=\"f charStyle-165dec60 ps11708\" style=\"width:157.63pt\">, ainsi que, dans une moindre mesure,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">l'exposition au propyl\u00e8ne, sont couvertes aupr\u00e8s de banques</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de premier rang au travers d\u2019instruments d\u00e9riv\u00e9s de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">couverture. L\u2019objet de ces couvertures est de limiter l\u2019impact</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">des variations de prix de ces mati\u00e8res premi\u00e8res sur les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9sultats du Groupe et d\u2019offrir le temps n\u00e9cessaire \u00e0 Valeo</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">pour n\u00e9gocier en cons\u00e9quence des hausses de prix aupr\u00e8s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34548 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">de ses clients.\u00a0Les expositions r\u00e9sultant d\u2019indexations des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">prix de vente sur des p\u00e9riodes diff\u00e9rentes de celles pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps11996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">dans les contrats achats de mati\u00e8res premi\u00e8res font</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps11997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:126.11pt\">\u00e9galement l\u2019objet de couvertures.</span></div><div class=\"ps34550 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Les couvertures sont r\u00e9alis\u00e9es via des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">sans livraison de sous-jacent physique (essentiellement des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps12000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34552\" style=\"width:205.23pt\"> sur le cours moyen mensuel). Ces op\u00e9rations sont</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps12001 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">qualifi\u00e9es de couvertures de flux de tr\u00e9sorerie au sens de la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.35pt\">norme IFRS 9.</span></div><div class=\"ps29481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">L\u2019acier, la plupart des plastiques et les terres rares ne</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">peuvent pas faire l\u2019objet de couvertures \u00e0 terme sur les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">march\u00e9s financiers car ces mati\u00e8res ne sont pas cot\u00e9es sur</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.33pt\">un march\u00e9 organis\u00e9.</span></div><div class=\"ps29488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">La part relative des stocks dans l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps21741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">financi\u00e8re du Groupe est peu influenc\u00e9e par la variation du</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">prix des mati\u00e8res premi\u00e8res compte tenu de leur rotation</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">rapide et de l\u2019optimisation des flux logistiques qui en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.3pt\">r\u00e9duisent le montant.</span></div><div class=\"ps16325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.76pt\">Les volumes couverts de m\u00e9taux non ferreux en fin de p\u00e9riode s\u2019\u00e9tablissent aux </span><span class=\"f charStyle-165dec60 ps34555\" style=\"width:70.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34556\" style=\"width:14.55pt\"> et </span><span class=\"f charStyle-165dec60 ps34557\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34558\" style=\"width:58.02pt\"> de la mani\u00e8re</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34559 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante\u00a0:</span></div><div class=\"ps34568 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en tonnes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Aluminium<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">41\u00a0213<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.05pt\"></span></span><span class=\"ps34561\">44\u00a0483<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aluminium 2</span><span class=\"f charStyle-4da12822 ps34562\"><sup>e</sup></span><span class=\"f charStyle-044fe383 ps34563\"> fusion</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">10\u00a0513<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.86pt\"></span></span><span class=\"ps34564\">9\u00a0600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cuivre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.5pt\"></span></span><span class=\"ps34565\">10\u00a0309<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.47pt\"></span></span><span class=\"ps34566\">11\u00a0326<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.13pt\"></span></span><span class=\"ps34567\">62\u00a0035<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.03pt\"></span></span><span class=\"ps24079\">65\u00a0409<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Les produits d\u00e9riv\u00e9s sur m\u00e9taux de base utilis\u00e9s par le</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:36.01pt\"><span style=\"background-color:inherit\">Groupe s</span></span><span class=\"f charStyle-b26c2267 ps34569\" style=\"width:193.25pt\"><span style=\"background-color:inherit\">ont qualifi\u00e9s de couverture de flux de tr\u00e9sorerie.</span></span><span class=\"f charStyle-b26c2267 ps410\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:56.36pt\"><span style=\"background-color:inherit\">Pour l\u2019exercice </span></span><span class=\"f charStyle-68ecf294 ps34570\" style=\"width:28.13pt\"><span style=\"background-color:inherit\">clos au </span></span><span class=\"f charStyle-165dec60 ps34571\" style=\"width:67.62pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34572\" style=\"width:77.19pt\"><span style=\"background-color:inherit\">, un gain latent de 15</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">millions d'euros li\u00e9 aux couvertures en place est comptabilis\u00e9</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.95pt\"><span style=\"background-color:inherit\">dans les Autres \u00e9l\u00e9ments du r\u00e9sultat global.</span></span></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">La perte latente de 3 millions d\u2019euros comptabilis\u00e9e dans les</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:156.71pt\">Autres \u00e9l\u00e9ments du r\u00e9sultat global au </span><span class=\"f charStyle-165dec60 ps34573\" style=\"width:72.61pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">relatif aux couvertures en place a \u00e9t\u00e9 enti\u00e8rement reclass\u00e9e</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.94pt\">en r\u00e9sultat op\u00e9rationnel en </span><span class=\"f charStyle-165dec60 ps34574\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34575\" style=\"width:1.59pt\">.</span></div><div class=\"ps34576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 des couvertures en vie au 31 d\u00e9cembre 2025 <span id=\"i97288b4385f944e49abf2157435a6ea3\"></span></span></div><div class=\"ps34579 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:207.87pt\">Une hausse de 10\u00a0% des cours \u00e0 terme des m\u00e9taux aux </span><span class=\"f charStyle-49b068b5 ps13902\" style=\"width:67.04pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-49b068b5 ps34577\" style=\"width:12.27pt\"> et </span><span class=\"f charStyle-49b068b5 ps4176\" style=\"width:18.01pt\">2024</span><span class=\"f charStyle-49b068b5 ps34578\" style=\"width:176.07pt\"> aurait les impacts suivants sur le r\u00e9sultat et les</span><span class=\"f charStyle-49b068b5 ps689\" style=\"width:1.86pt\"> </span></div><div class=\"ps34581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:33.29pt\">capitaux </span><span class=\"f charStyle-165dec60 ps34580\" style=\"width:85.56pt\">propres, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34588 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:90pt\"></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:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps3695 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps11003\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34582 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps10032\">Gains/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2020\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une hausse de 10 % </span></div><div class=\"ps748 ss762\"><span class=\"f charStyle-044fe383 ps10\">des\u00a0cours \u00e0 terme des m\u00e9taux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34584 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34586 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:77.21pt\"></span></span><span class=\"ps34585\">12<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16366 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.5pt\"></span></span><span class=\"ps34587\">10<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:375.05pt\">, une baisse de 10 % des cours \u00e0 terme des m\u00e9taux aurait un impact d\u00e9favorable du m\u00eame montant.</span></div><div class=\"ps34591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:353.5pt\">Pour les besoins de cette analyse, toutes les autres variables sont suppos\u00e9es rester constantes.</span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s mati\u00e8res<span id=\"i5d6c314b0abd4d5091fcf36884542372\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:79.4pt\">Les cours \u00e0 terme du </span><span class=\"f charStyle-8ab43435 ps34592\" style=\"width:91.01pt\">London Metal Exchange</span><span class=\"f charStyle-53279637 ps34593\" style=\"width:37.06pt\"> (LME) du </span><span class=\"f charStyle-53279637 ps34594\" style=\"width:66.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-53279637 ps34595\" style=\"width:207.67pt\"> ont \u00e9t\u00e9 utilis\u00e9s pour \u00e9tablir les \u00e9ch\u00e9ances contractuelles</span><span class=\"f charStyle-53279637 ps455\" style=\"width:1.85pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:30.27pt\">relatives</span><span class=\"f charStyle-165dec60 ps13762\" style=\"width:82.9pt\"> aux d\u00e9riv\u00e9s mati\u00e8res :</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:66pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32207 ss2172\"><div><div class=\"ps34486 ss2067\"><span class=\"f charStyle-6bef0edd ps25857\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss2067\"><span class=\"f charStyle-6bef0edd ps34596\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps13831 ss2174\"><div><div class=\"ps509 ss2173\"><span class=\"f charStyle-6bef0edd ps34597\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9972 ss2175\"><div><div class=\"ps34488 ss637\"><span class=\"f charStyle-6bef0edd ps13199\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34599 ss2176\"><div><div class=\"ps9325 ss637\"><span class=\"f charStyle-ae6044e9 ps34598\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34601 ss2178\"><div><div class=\"ps509 ss2177\"><span class=\"f charStyle-ae6044e9 ps34600\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34582 ss1116\"><div><div class=\"ps509 ss637\"><span class=\"f charStyle-ae6044e9 ps10060\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34603 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34602\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34604 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps3800\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34606 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34605\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34608 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34607\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss638\"><div><div class=\"ps509 ss637\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps17690\">2031</span><span class=\"f charStyle-98f46611 ps34609\"> et </span></div><div class=\"ps523 ss637\"><span class=\"f charStyle-98f46611 ps400\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s mati\u00e8res :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34610 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.05pt\"></span></span><span class=\"ps30356\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34612 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34613 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34614 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34615 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34616 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34617 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34618 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34620 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.45pt\"></span></span><span class=\"ps34619\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34622 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34623 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34624 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34625 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34626 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34627 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34628 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34630 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.3<span id=\"i3b53baccdf014b5d95fd02b7048bdcc7\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34629\"><span style=\"display:inline-block;height:8.22pt;width:7.74pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de taux d\u2019int\u00e9r\u00eats</span></span></div><div class=\"ps34631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de taux d\u2019int\u00e9r\u00eats<span id=\"ia2409fd65f9048dc93cab92c5820a734\"></span></span></div><div class=\"ps872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:113.58pt\">Le Groupe peut utiliser des </span><span class=\"f charStyle-bed55b1c ps34632\" style=\"width:23.72pt\">swaps</span><span class=\"f charStyle-5064d44f ps34633\" style=\"width:91.97pt\"> de taux d\u2019int\u00e9r\u00eat pour</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps873 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:44.9pt\">convertir le </span><span class=\"f charStyle-165dec60 ps20548\" style=\"width:184.35pt\">taux contractuel de la dette en un taux variable</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps874 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.05pt\">ou fixe. La </span><span class=\"f charStyle-81f42323 ps22029\" style=\"width:189.21pt\">tr\u00e9sorerie et les \u00e9quivalents de tr\u00e9sorerie sont plac\u00e9s</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps875 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.31pt\">aussi bien \u00e0 taux fixe qu'\u00e0 taux variable. La dette financi\u00e8re est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:59.02pt\">majoritairement</span><span class=\"f charStyle-165dec60 ps34634\" style=\"width:62.27pt\"> \u00e0 taux fixe\u00a0: au </span><span class=\"f charStyle-165dec60 ps34635\" style=\"width:69.28pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps14259\" style=\"width:38.71pt\">, 82 % des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dettes financi\u00e8res \u00e0 long terme (part \u00e0 plus d\u2019un an) sont \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">taux fixe, ratio en augmentation par rapport \u00e0 celui de l'an</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.81pt\">dernier.</span></div><div class=\"ps2729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Une filiale japonaise du Groupe a mis en place un</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financement pour l'une de ses filiales en roupies</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps887 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">indon\u00e9siennes. Afin de se couvrir contre les risques de taux</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps888 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">et de change li\u00e9s \u00e0 ce financement, celle-ci a contract\u00e9 deux</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">cross currency swaps d'un montant notionnel de 4 milliards</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de yens japonais, adoss\u00e9s en terme de maturit\u00e9.Ces d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps16144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">ne sont pas d\u00e9sign\u00e9s dans une relation de couverture</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:110.87pt\">La tranche \u00e0 taux variable du </span><span class=\"f charStyle-e8054d08 ps34636\" style=\"width:50.59pt\">Schuldschein</span><span class=\"f charStyle-165dec60 ps34637\" style=\"width:67.8pt\"> \u00e9mis en avril 2019</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps16149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.04pt\">a </span><span class=\"f charStyle-81f42323 ps21418\" style=\"width:78.71pt\">\u00e9t\u00e9 couverte par un </span><span class=\"f charStyle-a702cc9d ps34638\" style=\"width:19.69pt\">swap</span><span class=\"f charStyle-81f42323 ps34639\" style=\"width:122.88pt\"> de taux qui \u00e9change le coupon</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps34645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.09pt\">variable</span><span class=\"f charStyle-165dec60 ps34640\" style=\"width:2.49pt\"> </span><span class=\"f charStyle-81f42323 ps34641\" style=\"width:69.71pt\">contre un taux fixe.</span><span class=\"f charStyle-81f42323 ps34642\" style=\"width:80.38pt\">\u00a0Cet instrument a \u00e9t\u00e9 </span><span class=\"f charStyle-81f42323 ps34643\" style=\"width:28.75pt\">d\u00e9sign\u00e9</span><span class=\"f charStyle-81f42323 ps34644\" style=\"width:19.82pt\"> dans</span><span class=\"f charStyle-81f42323 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:44.08pt\">une relation</span><span class=\"f charStyle-165dec60 ps34646\" style=\"width:78.76pt\"> de couverture type </span><span class=\"f charStyle-e8054d08 ps34647\" style=\"width:106.49pt\">cash-flow hedge, laquelle a</span><span class=\"f charStyle-e8054d08 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:58.14pt\">pris fin en 2025.</span></div><div class=\"ps12593 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:23.47pt\">Deux </span><span class=\"f charStyle-e8054d08 ps34648\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34649\" style=\"width:181.78pt\"> de taux d'int\u00e9r\u00eat pour un montant global de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">600\u00a0millions d'euros ont \u00e9t\u00e9 mis en place en novembre 2022</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps34651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pour variabiliser partiellement les int\u00e9r\u00eats de l'emprunt</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">EMTN de 750 millions d'euros \u00e9mis concomitamment. Ces</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">instruments ont \u00e9t\u00e9 d\u00e9sign\u00e9s dans une relation de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.36pt\">couverture de type </span><span class=\"f charStyle-e8054d08 ps1025\" style=\"width:61.61pt\">fair value hedge</span><span class=\"f charStyle-165dec60 ps34652\" style=\"width:1.59pt\">.</span></div><div class=\"ps34665 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss1944\"><div><div class=\"ps10309 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30404 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-ae6044e9 ps34653\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30405 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30407 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-373e86b9 ps10\">Swaps </span><span class=\"f charStyle-044fe383 ps31087\">de taux\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Emprunt en roupie indon\u00e9sienne </span><span class=\"f charStyle-4da12822 ps34656\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30414 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30416 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placement priv\u00e9 </span><span class=\"f charStyle-373e86b9 ps34657\">Schuldschein<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30417 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30419 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.69pt\"></span></span><span class=\"ps34658\">123<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383\"><span class=\"ps511\">EMTN \u00e9ch\u00e9ance 2027<span style=\"display:inline-block;height:7.26pt;width:27.06pt\"></span></span><span class=\"ps34659\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span><span class=\"ps34660\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30421 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30422 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.64pt\"></span></span><span class=\"ps34661\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.62pt\"></span></span><span class=\"ps34662\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30425 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.02pt\"></span></span><span class=\"ps34663\">622<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30427 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.37pt\"></span></span><span class=\"ps19146\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.13pt\"></span></span><span class=\"ps30949\">747<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.31pt\"></span></span><span class=\"ps34664\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:405.78pt\">Les nominaux des cross-currency swaps sont ceux de la jambe en JPY contre-valoris\u00e9s aux taux de change du 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34666\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps34667\" style=\"width:1.37pt\">.</span></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition n<span id=\"i545268519cd045d99c70f1f2a46a25f9\"></span></span><span class=\"f charStyle-aa33f529 ps34669\">ette du Groupe</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:481.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, la position nette du Groupe en mati\u00e8re de taux d\u2019int\u00e9r\u00eat, sur la base des valeurs nominales, s\u2019analyse</span></span><span class=\"f charStyle-61077b09 ps8343\" style=\"width:1.87pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:47.53pt\"><span style=\"background-color:inherit\">comme\u00a0suit\u00a0:</span></span></div><div class=\"ps34670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i7c1caff05389438598ff69b9c06bc3af\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps34754 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps34671\">Moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps16613\">Un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps96\">Plus de cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.71pt\"></span></span><span class=\"ps34683\">931<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.52pt\"></span></span><span class=\"ps34685\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.42pt\"></span></span><span class=\"ps16443\">3\u00a0703<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.53pt\"></span></span><span class=\"ps34687\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.83pt\"></span></span><span class=\"ps34689\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.09pt\"></span></span><span class=\"ps34692\">5\u00a0989<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.92pt\"></span></span><span class=\"ps6862\">602<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.17pt\"></span></span><span class=\"ps34694\">6\u00a0591<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Pr\u00eats<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-044fe383 ps10\">Tr\u00e9sorerie et \u00e9quivalents </span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.09pt\"></span></span><span class=\"ps34717\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE AVANT GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.56pt\"></span></span><span class=\"ps34722\">3\u00a0677<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.11pt\"></span></span><span class=\"ps34728\">5\u00a0508<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.25pt\"></span></span><span class=\"ps8726\">(1\u00a0450)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE APR\u00c8S GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.24pt\"></span></span><span class=\"ps34744\">3\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.03pt\"></span></span><span class=\"ps34746\">1\u00a0002<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.1pt\"></span></span><span class=\"ps34750\">4\u00a0908<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.52pt\"></span></span><span class=\"ps22390\">(850)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"iaa49409005a24d068ec1a1aab477abbb\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps34769 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps34671\"><span style=\"background-color:inherit\">Moins d'un an</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps16613\"><span style=\"background-color:inherit\">Un \u00e0 cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps96\"><span style=\"background-color:inherit\">Plus de cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-ae837db4 ps10\"><span style=\"background-color:inherit\">(en millions d'euros)</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Passifs financiers</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.31pt\"></span></span><span class=\"ps34756\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0910</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.78pt\"></span></span><span class=\"ps25365\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">272</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:11.14pt\"></span></span><span class=\"ps34757\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0413</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:10.05pt\"></span></span><span class=\"ps34758\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.8pt\"></span></span><span class=\"ps16452\">6\u00a0413<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\">649<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.05pt\"></span></span><span class=\"ps11361\">7\u00a0062<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Pr\u00eats</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(25)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Int\u00e9r\u00eats courus</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(32)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">Tr\u00e9sorerie et \u00e9quivalents </span></span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">de\u00a0tr\u00e9sorerie</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(788)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0365)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\">(788)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\">(2\u00a0365)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.39pt\"></span></span><span class=\"ps399\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE AVANT GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.85pt\"></span></span><span class=\"ps34763\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0093</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.29pt\"></span></span><span class=\"ps32226\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0388</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.95pt\"></span></span><span class=\"ps23575\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.43pt\"></span></span><span class=\"ps34764\">5\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.6pt\"></span></span><span class=\"ps10774\">(1\u00a0716)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Instruments d\u00e9riv\u00e9s</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:17.99pt\"></span></span><span class=\"ps34765\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">122</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.03pt\"></span></span><span class=\"ps25428\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(122)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(600)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">600</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.59pt\"></span></span><span class=\"ps34766\">(478)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.55pt\"></span></span><span class=\"ps4561\">478<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE APR\u00c8S GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.35pt\"></span></span><span class=\"ps26354\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0212</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.66pt\"></span></span><span class=\"ps10515\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0215)</span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.1pt\"></span></span><span class=\"ps34767\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0788</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">977</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.66pt\"></span></span><span class=\"ps34768\">5\u00a0090<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.15pt\"></span></span><span class=\"ps28900\">(1\u00a0238)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11713 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Les passifs financiers se composent principalement du nominal des dettes long terme, des financements court terme, des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps11714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.04pt\">dettes sur biens lou\u00e9s et des concours bancaires.</span></div><div class=\"ps34770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 au risque de taux<span id=\"ic9e6dd87aba1437f8fc6bf5d5d0cda90\"></span></span></div><div class=\"ps19414 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:240.37pt\">L\u2019essentiel de la dette financi\u00e8re \u00e0 long terme est \u00e0 taux fixe au </span><span class=\"f charStyle-165dec60 ps34771\" style=\"width:67.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34772\" style=\"width:173.03pt\">. Les dettes \u00e0 taux fixe comptabilis\u00e9es au co\u00fbt</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">amorti ne rentrent pas dans le calcul de la sensibilit\u00e9 au risque de taux. L\u2019exposition du Groupe au risque de taux est donc</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:158.14pt\">limit\u00e9e \u00e0\u00a0son endettement \u00e0 taux variable.</span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">Ainsi une hausse instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat appliqu\u00e9e aux actifs et passifs financiers \u00e0 taux variable aurait les impacts</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:466.13pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, apr\u00e8s prise en compte des produits d\u00e9riv\u00e9s et avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34789 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:177.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34774 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-6bef0edd ps28487\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34775 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-ae6044e9 ps29910\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2186\"><div><div class=\"ps16333 ss2185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34777 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34780 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34781 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34782 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2188\"><div><div class=\"ps746 ss2185\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une variation de +\u00a01 % des taux </span></div><div class=\"ps748 ss2185\"><span class=\"f charStyle-044fe383 ps10\">d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34784 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.89pt\"></span></span><span class=\"ps34783\">(9)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34785 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34787 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.5pt\"></span></span><span class=\"ps34786\">(12)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34788 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:389.62pt\">, une diminution instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat aurait eu un impact favorable du m\u00eame montant.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-518": {
   "value": "<div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">La norme IFRS 13 requiert de hi\u00e9rarchiser les diff\u00e9rentes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">techniques de valorisation pour chacun des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:194.27pt\">financiers. Les cat\u00e9gories sont d\u00e9finies comme suit\u00a0:</span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.27pt\">niveau 1\u00a0: r\u00e9f\u00e9rence directe \u00e0 des prix cot\u00e9s (non ajust\u00e9s)</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">accessibles sur des march\u00e9s actifs, pour des actifs ou</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:85.82pt\">des passifs identiques\u00a0;</span></div><div class=\"ps33167 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.28pt\">niveau 2\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps425\" style=\"width:1.82pt\"> </span></div><div class=\"ps27729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:180.63pt\"> concernant l\u2019actif ou le passif, autres que les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33169 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">prix cot\u00e9s inclus dans les donn\u00e9es de niveau 1, qui sont</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:164.98pt\">observables directement ou indirectement\u00a0;</span></div><div class=\"ps33170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:212.25pt\">niveau 3\u00a0: technique de valorisation reposant sur des</span><span class=\"f charStyle-42e3db84 ps410\" style=\"width:1.82pt\"> </span></div><div class=\"ps33171 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps3285\" style=\"width:31.66pt\">donn\u00e9es</span><span class=\"f charStyle-165dec60 ps33168\" style=\"width:65.08pt\"> non observables.</span></div><div class=\"ps33162 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">La juste valeur des emprunts obligataires est calcul\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps33163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">partir de prix cot\u00e9s sur le march\u00e9 actif pour les emprunts</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps33164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-dd2d44ff ps448\" style=\"width:208.97pt\">obligataires. Cette technique de valorisation est de niveau\u00a01</span><span class=\"f charStyle-165dec60 ps33172\" style=\"width:1.59pt\">.</span><span class=\"f charStyle-165dec60 ps33173\" style=\"width:1.96pt\"> </span></div><div class=\"ps33165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:112.35pt\">Pour les placements priv\u00e9s </span><span class=\"f charStyle-c825fd3d ps33174\" style=\"width:47.95pt\">Schuldschein</span><span class=\"f charStyle-5dca4c00 ps6702\" style=\"width:57.64pt\">, les emprunts<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps16283\" style=\"width:1.74pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33166 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps448\" style=\"width:37.7pt\">contract\u00e9s</span><span class=\"f charStyle-49b0b1fa ps33175\" style=\"width:180.27pt\"> aupr\u00e8s de la Banque europ\u00e9enne<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps16278\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps27725 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:61.49pt\">d'investissement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33176\" style=\"width:156.5pt\"> et les emprunts bancaires bilat\u00e9raux, la</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps27726 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.91pt\">juste valeur est estim\u00e9e en actualisant les flux futurs au</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps16288 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">taux de march\u00e9 \u00e0 la date de cl\u00f4ture. Cette technique de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps16290 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.75pt\">valorisation est de niveau 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps32276 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">Compte tenu de leur \u00e9ch\u00e9ance courte, la juste valeur des</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps32277 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">autres composantes de la dette, ainsi que celle des dettes</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps27715 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">fournisseurs et des cr\u00e9ances clients est \u00e9gale \u00e0 la valeur</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">La norme IFRS 13 pr\u00e9cise les modalit\u00e9s de l\u2019appr\u00e9ciation</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">de la juste valeur et la prise en compte du risque de cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:96.41pt\">pour les d\u00e9riv\u00e9s \u00e0 travers\u00a0:</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:13.19pt\">un </span><span class=\"f charStyle-e8054d08 ps33267\" style=\"width:111.3pt\">Credit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps33268\" style=\"width:87.78pt\"> (CVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps3285\" style=\"width:7.95pt\">m<span class=\"f ps53\"> </span></span><span class=\"f charStyle-df7f360e ps33270\" style=\"width:52.29pt\">ark-to-market</span><span class=\"f charStyle-b2f078f6 ps33271\" style=\"width:152.06pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-b2f078f6 ps418\" style=\"width:1.83pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps3285\" style=\"width:37.48pt\">traduisant</span><span class=\"f charStyle-165dec60 ps33273\" style=\"width:174.83pt\"> l\u2019exposition au risque de d\u00e9faut de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:50.19pt\">contrepartie\u00a0;</span></div><div class=\"ps13803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:13.39pt\">un </span><span class=\"f charStyle-e8054d08 ps33274\" style=\"width:109.5pt\">Debit Valuation Adjustment</span><span class=\"f charStyle-165dec60 ps15328\" style=\"width:89.38pt\"> (DVA)\u00a0: composant du</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps13805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-8ab43435 ps26704\" style=\"width:60.09pt\">mark\u2011to-market</span><span class=\"f charStyle-53279637 ps33275\" style=\"width:152.2pt\"> d\u2019un instrument financier d\u00e9riv\u00e9</span><span class=\"f charStyle-53279637 ps16295\" style=\"width:1.85pt\"> </span></div><div class=\"ps13807 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps26704\" style=\"width:37.68pt\">traduisant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33276\" style=\"width:98.13pt\"> le risque de cr\u00e9dit propre.</span></div><div class=\"ps33269 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">La valorisation du risque de cr\u00e9dit des instruments</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps33272 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est calcul\u00e9e \u00e0 partir des probabilit\u00e9s de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps13810 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">historiques et d'un taux de recouvrement observ\u00e9s sur le</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps13811 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.78pt\">march\u00e9.</span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-520": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.2<span id=\"ia52e872cfdc04902a3573b1f9ef33c03\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps15731\"><span style=\"display:inline-block;height:8.71pt;width:14.76pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Endettement financier brut<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:458.56pt\">L\u2019endettement financier brut comprend les dettes financi\u00e8res \u00e0 long terme, les financements court terme et les concours<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps27007\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:37.2pt\">bancaires.<span class=\"f ps53\"> </span></span></div><div class=\"ps33280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:210.75pt\">, l\u2019endettement financier brut du Groupe s\u2019analyse ainsi\u00a0:</span></div><div class=\"ps33318 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss2088\"><div><div class=\"ps10309 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23143\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33283 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps9730\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps28704\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23143\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps9730\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps28704\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-0e45555a ps10\">Dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33289 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.24pt\"></span></span><span class=\"ps33288\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.18pt\"></span></span><span class=\"ps33290\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33292 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.84pt\"></span></span><span class=\"ps7728\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33294 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.37pt\"></span></span><span class=\"ps33293\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33295 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.81pt\"></span></span><span class=\"ps29923\">1\u00a0334<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33296 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.86pt\"></span></span><span class=\"ps27415\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33297 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.11pt\"></span></span><span class=\"ps28598\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33299 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.11pt\"></span></span><span class=\"ps28598\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33300 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33301 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.17pt\"></span></span><span class=\"ps32254\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33302 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.17pt\"></span></span><span class=\"ps32254\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33303 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.92pt\"></span></span><span class=\"ps28656\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33305 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.92pt\"></span></span><span class=\"ps28656\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33306 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33308 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.91pt\"></span></span><span class=\"ps33307\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33309 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.91pt\"></span></span><span class=\"ps33307\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10370 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss762\"><span class=\"f charStyle-96b05324 ps10\">BRUT</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33310 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.87pt\"></span></span><span class=\"ps31030\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33312 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.27pt\"></span></span><span class=\"ps33311\">1\u00a0129<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33314 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.38pt\"></span></span><span class=\"ps33313\">6\u00a0561<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33315 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.01pt\"></span></span><span class=\"ps25830\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33316 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.41pt\"></span></span><span class=\"ps27346\">2\u00a0178<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33317 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">7\u00a0037<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.2.1<span class=\"f ps53\"> </span><span id=\"i86ffe5caa45b4021a1dd0bd086de69d4\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2082\"><span style=\"display:inline-block;height:8.22pt;width:10.28pt\"></span></span><span class=\"ps29285\">Dettes financi\u00e8res \u00e0 long terme</span></span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Ce poste inclut principalement les emprunts obligataires,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.9pt\">les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps33323\" style=\"width:204.09pt\">placements priv\u00e9s, les emprunts contract\u00e9s aupr\u00e8s de</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.88pt\">la\u00a0Banque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33325\" style=\"width:5.28pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps33326\" style=\"width:172.82pt\">europ\u00e9enne d'investissement, les dettes sur</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:88.43pt\">biens lou\u00e9s et les autres </span><span class=\"f charStyle-165dec60 ps33328\" style=\"width:38.96pt\">emprunts.</span><span class=\"f charStyle-165dec60 ps33329\" style=\"width:1.96pt\"> </span></div><div class=\"ps33331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les emprunts sont \u00e9valu\u00e9s au co\u00fbt amorti. Le montant</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.49pt\">des i</span><span class=\"f charStyle-c8069515 ps33332\" style=\"width:196.45pt\">nt\u00e9r\u00eats comptabilis\u00e9s en charges financi\u00e8res est</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:38.66pt\">d\u00e9termin\u00e9</span><span class=\"f charStyle-165dec60 ps5623\" style=\"width:179.29pt\"> par application du taux d\u2019int\u00e9r\u00eat effectif de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">l\u2019emprunt \u00e0 sa valeur comptable. La diff\u00e9rence entre la</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps8503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.91pt\">charge calcul\u00e9e \u00e0 </span><span class=\"f charStyle-9206869b ps33336\" style=\"width:143.06pt\">partir du taux d\u2019int\u00e9r\u00eat effectif et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps418\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:91.05pt\">coupon impacte la valeu</span><span class=\"f charStyle-165dec60 ps33337\" style=\"width:46.73pt\">r de la dette.</span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.97pt\">Lorsqu\u2019un emprunt \u00e0 taux fixe est d\u00e9sign\u00e9 en tant</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:42.77pt\">qu\u2019\u00e9l\u00e9ment</span><span class=\"f charStyle-165dec60 ps33339\" style=\"width:175.19pt\"> couvert dans une relation de couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.74pt\">juste valeur, sa v</span><span class=\"f charStyle-9206869b ps33340\" style=\"width:150.2pt\">aleur comptable est ajust\u00e9e \u00e0 chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:80.95pt\">cl\u00f4ture de la variation</span><span class=\"f charStyle-165dec60 ps4123\" style=\"width:136.97pt\"> de juste valeur imputable au risque</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps33341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.18pt\">couvert.</span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les dettes sur biens lou\u00e9s sont \u00e9valu\u00e9es conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:84.43pt\">au descriptif fourni en </span><span class=\"f charStyle-165dec60 ps33342\" style=\"width:30.54pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps11863\" style=\"width:61.31pt\">, pages 416 \u00e0 418</span><span class=\"f charStyle-165dec60 ps33343\" style=\"width:1.59pt\">.</span></div><div class=\"ps33345 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">D\u00e9tail des dettes financi\u00e8res \u00e0 long terme<span id=\"if985ee38285d4ba4afa0fa7c6b238748\"></span></span></div><div class=\"ps33386 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:26.25pt\"></td><td style=\"padding:0;width:189.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1931\"><div><div class=\"ps10243 ss1239\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td rowspan=\"8\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss2070\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a ps33346\">68 %</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33347 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunts obligataires</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.26pt\"></span></span><span class=\"ps33348\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.88pt\"></span></span><span class=\"ps33349\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32894 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32895 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33350\"></span><span class=\"ps33350\">3 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33351 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Placements priv\u00e9s</span><span class=\"f charStyle-373e86b9 ps30620\"> Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31627 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.43pt\"></span></span><span class=\"ps33352\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31628 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.24pt\"></span></span><span class=\"ps33353\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33354 ss2074\"><div><div class=\"ps32893 ss1\"><span class=\"f charStyle-bdbfbd4c ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33356 ss272\"><div><div class=\"ps6851 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33355\"></span><span class=\"ps33355\">7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33357 ss2091\"><div><div class=\"ps746 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss1388\"><span class=\"f charStyle-044fe383 ps4503\">d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33359 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.09pt\"></span></span><span class=\"ps33358\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33361 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33362 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-cbb4a92e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33363 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33355\"></span><span class=\"ps33355\">7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33364 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33365 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33366 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.49pt\"></span></span><span class=\"ps28430\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33367 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-5d69291e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33368 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10422\"></span><span class=\"ps10422\">12 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33369 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Dettes sur biens lou\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33370 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">718<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33371 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.57pt\"></span></span><span class=\"ps27867\">626<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33372 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-8b704e13 ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33373 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10066\"></span><span class=\"ps10066\">1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33374 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Autres emprunts</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33376 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.03pt\"></span></span><span class=\"ps33375\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33378 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33379 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-ca45fd2d ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22587 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps13680\"></span><span class=\"ps13680\">2 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33380 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Int\u00e9r\u00eats courus non \u00e9chus</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10391 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.29pt\"></span></span><span class=\"ps33381\">121<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10392 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.87pt\"></span></span><span class=\"ps20539\">107<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33382 ss1389\"><div><div class=\"ps746 ss1388\"><span class=\"f charStyle-ae6044e9 ps10\">DETTES FINANCI\u00c8RES \u00c0 LONG TERME<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.88pt\"></span></span><span class=\"ps33383\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33385 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.9pt\"></span></span><span class=\"ps10244\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9volution et caract\u00e9ristiques des emprunts \u00e0 long terme<span id=\"i5aa79b77d3d44a2cb5465da3f43f1a10\"></span></span></div><div class=\"ps33478 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:59.25pt\"></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:44.25pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2092\"><div><div class=\"ps24204 ss424\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps12691 ss2027\"><div><div class=\"ps24203 ss622\"><span class=\"f charStyle-2d71864b ps33389\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss622\"><span class=\"f charStyle-2d71864b ps33390\">obligataires</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss2093\"><div><div class=\"ps24208 ss74\"><span class=\"f charStyle-b2b6bcc2 ps10521\">Placements </span></div><div class=\"ps24203 ss74\"><span class=\"f charStyle-b2b6bcc2 ps17732\">priv\u00e9s </span></div><div class=\"ps24204 ss74\"><span class=\"f charStyle-0d069f04 ps33391\">Schuldschein</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33392 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps3760\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps3402\">BEI</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33395 ss1638\"><div><div class=\"ps24208 ss634\"><span class=\"f charStyle-2d71864b ps3760\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps33393\">bancaires </span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps33394\">bilat\u00e9raux</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps33\">Dettes sur <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps16796\">biens lou\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3691 ss2094\"><div><div class=\"ps24203 ss387\"><span class=\"f charStyle-2d71864b ps33396\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss387\"><span class=\"f charStyle-2d71864b ps3533\">emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16341 ss2094\"><div><div class=\"ps24203 ss387\"><span class=\"f charStyle-2d71864b ps13692\">Int\u00e9r\u00eats <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss387\"><span class=\"f charStyle-2d71864b ps16709\">courus</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33397 ss1638\"><div><div class=\"ps24204 ss634\"><span class=\"f charStyle-d606841d ps9439\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24136 ss2095\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-3f403986 ps10\">VALEUR COMPTABLE </span></div><div class=\"ps18922 ss424\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a01<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\">\u00a0JANVIER </span><span class=\"f charStyle-3f403986 ps33353\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33399 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.72pt\"></span></span><span class=\"ps33398\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33400 ss75\"><div><div class=\"ps523 ss74\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33401 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.98pt\"></span></span><span class=\"ps30641\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33403 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.72pt\"></span></span><span class=\"ps33402\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33405 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.73pt\"></span></span><span class=\"ps33404\">626<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33406 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.66pt\"></span></span><span class=\"ps25192\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33408 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.51pt\"></span></span><span class=\"ps33407\">107<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33409 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10256 ss2045\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-044fe383 ps10\">Augmentations/</span></div><div class=\"ps748 ss424\"><span class=\"f charStyle-044fe383 ps10\">Souscriptions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33410 ss1343\"><div><div class=\"ps516 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.87pt\"></span></span><span class=\"ps29009\">1\u00a0135<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33411 ss85\"><div><div class=\"ps516 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33412 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33413 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.51pt\"></span></span><span class=\"ps1807\">155<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33414 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33416 ss653\"><div><div class=\"ps516 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.54pt\"></span></span><span class=\"ps33415\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33417 ss653\"><div><div class=\"ps516 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33419 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.9pt\"></span></span><span class=\"ps33418\">1\u00a0304<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2047\"><div><div class=\"ps15656 ss424\"><span class=\"f charStyle-044fe383 ps10\">Nouveaux contrats/</span></div><div class=\"ps13845 ss424\"><span class=\"f charStyle-044fe383 ps10\">Renouvellements/</span></div><div class=\"ps15657 ss424\"><span class=\"f charStyle-044fe383 ps10\">Modifications</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33420 ss1592\"><div><div class=\"ps527 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33421 ss2096\"><div><div class=\"ps527 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33422 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33423 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33424 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.32pt\"></span></span><span class=\"ps26762\">266<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33425 ss395\"><div><div class=\"ps527 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31190 ss395\"><div><div class=\"ps527 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33426 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.32pt\"></span></span><span class=\"ps26762\">266<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Remboursements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33428 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.4pt\"></span></span><span class=\"ps33427\">(1\u00a0200)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33429 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.25pt\"></span></span><span class=\"ps31328\">(391)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33430 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.61pt\"></span></span><span class=\"ps10586\">(100)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33431 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33433 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.04pt\"></span></span><span class=\"ps33432\">(152)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3709 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.49pt\"></span></span><span class=\"ps33434\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33435 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33437 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.06pt\"></span></span><span class=\"ps33436\">(1\u00a0848)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22848 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Ajustements de valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33438 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.74pt\"></span></span><span class=\"ps31446\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33439 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33441 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.74pt\"></span></span><span class=\"ps33440\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33442 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33443 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33444 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33445 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33446 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.91pt\"></span></span><span class=\"ps32813\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26340 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33447 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33448 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33449 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33450 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33451 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.02pt\"></span></span><span class=\"ps16353\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33452 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33453 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33454 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.02pt\"></span></span><span class=\"ps16353\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26347 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Autres variations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33455 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33456 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33457 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33458 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33460 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.98pt\"></span></span><span class=\"ps33459\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33462 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.49pt\"></span></span><span class=\"ps33461\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33463 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.54pt\"></span></span><span class=\"ps33415\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33465 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.77pt\"></span></span><span class=\"ps33464\">13<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8736 ss2095\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-3f403986 ps10\">VALEUR COMPTABLE </span></div><div class=\"ps18922 ss424\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32193\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33467 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.13pt\"></span></span><span class=\"ps33466\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33468 ss75\"><div><div class=\"ps523 ss74\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33469 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.21pt\"></span></span><span class=\"ps26166\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33470 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.98pt\"></span></span><span class=\"ps30641\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33472 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.15pt\"></span></span><span class=\"ps33471\">718<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33474 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.94pt\"></span></span><span class=\"ps33473\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33475 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.89pt\"></span></span><span class=\"ps18603\">121<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33477 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.63pt\"></span></span><span class=\"ps33476\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.3pt\">Le Groupe a r\u00e9alis\u00e9 plusieurs op\u00e9rations de financement au</span><span class=\"f charStyle-4afdd138 ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps31560 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:20.32pt\">cours</span><span class=\"f charStyle-165dec60 ps33479\" style=\"width:50.05pt\"> de l'exercice </span><span class=\"f charStyle-165dec60 ps33480\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps1937\" style=\"width:3.55pt\"> :<span class=\"f ps53\"> </span></span></div><div class=\"ps13993 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">Le 22 janvier 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps13994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:153.74pt\">pour un montant de 100 millions d'euros.</span></div><div class=\"ps18293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">Le 10 f\u00e9vrier 2025, Valeo a proc\u00e9d\u00e9 au paiement d'une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps18294 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">\u00e9ch\u00e9ance de 50 millions d'euros sur la deuxi\u00e8me tranche</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps33481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">de l'emprunt aupr\u00e8s de la Banque Europ\u00e9enne</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:65.25pt\">d'Investissement.</span></div><div class=\"ps18301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">Le 9 avril 2025, Valeo a proc\u00e9d\u00e9 au remboursement des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">tranches 3 et 4 du Schuldschein (placement priv\u00e9 de droit</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps18303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">allemand) \u00e9mis en 2019, pour un montant nominal</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:213.2pt\">respectif de 90 millions d'euros et de 123 millions d'euros.</span></div><div class=\"ps17980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">Le 20 mai 2025, le Groupe a \u00e9mis un emprunt obligataire</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17981 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">de 650 millions d'euros, \u00e0 \u00e9ch\u00e9ance mai 2031 et assorti d'un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">coupon de 5,125%. Ces obligations vertes ont \u00e9t\u00e9 \u00e9mises</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">dans le cadre du Green and Sustainability-Linked</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.14pt\">Financing\u00a0 Framework \u00e9tabli en juillet 2021 et mis \u00e0 jour en</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps17988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">septembre 2023, et serviront \u00e0 financer les projets et</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">investissements li\u00e9s au portefeuille de technologies qui</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">contribuent \u00e0 la mobilit\u00e9 \u00e0 faible \u00e9mission de carbone, en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps33484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:162.07pt\">particulier pour l'\u00e9lectrification du v\u00e9hicule.</span></div><div class=\"ps17992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">Le 18 juin 2025, Valeo a proc\u00e9d\u00e9 au remboursement de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">l'emprunt obligataire de 600 millions d'euros, qui avait \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">\u00e9mis en 2018 dans le cadre du programme de financement</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:183.19pt\">\u00e0 moyen et long terme Euro Medium Term Note.</span></div><div class=\"ps31558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">Le 18 juin 2025, Valeo a proc\u00e9d\u00e9 au paiement d'une</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps31560 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">\u00e9ch\u00e9ance de 50 millions d'euros sur la premi\u00e8re tranche de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33485 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.2pt\">l'emprunt aupr\u00e8s de la Banque Europ\u00e9enne</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps33486 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:65.25pt\">d'Investissement.</span></div><div class=\"ps13995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.23pt\">Le 22 ao\u00fbt 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps13996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:149.61pt\">pour un montant de 25 millions d'euros.</span></div><div class=\"ps33481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">Le 23 septembre 2025, le Groupe a \u00e9mis un emprunt</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps33482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">obligataire de 500 millions d'euros, \u00e0 \u00e9ch\u00e9ance mars 2032</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps33487 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">et assorti d'un coupon de 4,625%. Ces obligations vertes</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">ont \u00e9t\u00e9 \u00e9mises dans le cadre du Green and Sustainability-</span></div><div class=\"ps33489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">Linked Financing Framework \u00e9tabli en juillet 2021 et mis \u00e0</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33490 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">jour en septembre 2023, et serviront \u00e0 financer les projets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps33491 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">et investissements li\u00e9s au portefeuille de technologies qui</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps9009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">contribuent \u00e0 la mobilit\u00e9 \u00e0 faible \u00e9mission de carbone, en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:162.07pt\">particulier pour l'\u00e9lectrification du v\u00e9hicule.</span></div><div class=\"ps33492 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">Le 31 octobre 2025, Valeo a proc\u00e9d\u00e9 au remboursement</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps33493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">des tranches 1 et 2 du Schuldschein (placement priv\u00e9 de</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps33494 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">droit allemand) \u00e9mis en 2022, pour un montant nominal</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:213.9pt\">respectif de 30 millions d'euros et de 149 millions d'euros.</span></div><div class=\"ps18308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">Le 31 octobre 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps33484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:150.3pt\">pour un montant de 30 millions d'euros.</span></div><div class=\"ps17992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">Le 18 d\u00e9cembre 2025, Valeo a exerc\u00e9 son option de</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps18311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">remboursement anticip\u00e9 de l\u2019emprunt obligataire de 600</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps18312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">millions d\u2019euros \u00e9mis en 2016, dont l\u2019\u00e9ch\u00e9ance \u00e9tait fix\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps31668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:40.6pt\">mars 2026.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:295.05pt\">, les principales caract\u00e9ristiques des emprunts \u00e0 long terme sont les suivantes\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:158.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:50.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2098\"><div><div class=\"ps33495 ss788\"><span class=\"f charStyle-ae6044e9 ps10\">Type<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11015 ss2099\"><div><div class=\"ps33496 ss382\"><span class=\"f charStyle-a8b3a41c ps29045\">Encours au </span></div><div class=\"ps33498 ss382\" style=\"font-size:12pt\"><span class=\"f charStyle-a8b3a41c ps33497\">31\u00a0d\u00e9cembre </span></div><div class=\"ps33500 ss382\" style=\"font-size:12pt\"><span class=\"f charStyle-a8b3a41c ps33499\">2025</span><span class=\"f charStyle-a8b3a41c ps32685\"> </span></div><div class=\"ps33501 ss382\"><span class=\"f charStyle-d3269767 ps28775\">(en millions <span class=\"f ps53\"> </span></span></div><div class=\"ps33502 ss382\"><span class=\"f charStyle-d3269767 ps26445\">d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3739 ss2100\"><div><div class=\"ps33495 ss723\"><span class=\"f charStyle-5ffca5e0 ps25727\">\u00c9mission<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30897 ss2101\"><div><div class=\"ps33495 ss74\"><span class=\"f charStyle-5ffca5e0 ps33503\">\u00c9ch\u00e9ance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33505 ss2102\"><div><div class=\"ps33496 ss48\"><span class=\"f charStyle-a8b3a41c ps29072\">Nominal </span></div><div class=\"ps33498 ss48\"><span class=\"f charStyle-a8b3a41c ps14407\">restant </span></div><div class=\"ps33500 ss48\"><span class=\"f charStyle-a8b3a41c ps22806\">d\u00fb\u00a0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-d3269767 ps28860\">(en <span class=\"f ps53\"> </span></span></div><div class=\"ps33501 ss48\"><span class=\"f charStyle-d3269767 ps33504\">millions <span class=\"f ps53\"> </span></span></div><div class=\"ps33502 ss48\"><span class=\"f charStyle-d3269767 ps13727\">d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24069 ss1364\"><div><div class=\"ps33495 ss1016\"><span class=\"f charStyle-5ffca5e0 ps3092\">Devise<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11509 ss2103\"><div><div class=\"ps9400 ss331\"><span class=\"f charStyle-5ffca5e0 ps24272\">Taux d'int\u00e9r\u00eat <span class=\"f ps53\"> </span></span></div><div class=\"ps33495 ss331\"><span class=\"f charStyle-5ffca5e0 ps8187\">nominal<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11511 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNTS OBLIGATAIRES<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4545 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33508 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.21pt\"></span></span><span class=\"ps33507\">698<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33509 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32246\">Juillet 2021<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33510 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps16669\">Ao\u00fbt 2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33512 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.58pt\"></span></span><span class=\"ps33511\">700<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33514 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11518 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps10474\">1,00 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8277 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><span class=\"f ps53\"> </span><sup>(1) (3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33516 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.76pt\"></span></span><span class=\"ps33515\">751<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33517 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-044fe383 ps10164\">Novembre 2022</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33519 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-044fe383 ps33518\">Mai 2027</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33520 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.3pt\"></span></span><span class=\"ps27221\">750<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33521 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11520 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps351\">5,375 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN</span><span class=\"f charStyle-4da12822 ps33522\"><span class=\"f ps53\"> </span><sup> (2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33524 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.9pt\"></span></span><span class=\"ps33523\">597<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33525 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps16735\">Octobre 2023<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33527 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33526\">Avril 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33529 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.43pt\"></span></span><span class=\"ps33528\">600<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33530 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11523 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps16876\">5,875 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN</span><span class=\"f charStyle-4da12822 ps33522\"><span class=\"f ps53\"> </span><sup> (2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33531 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.16pt\"></span></span><span class=\"ps4267\">843<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33532 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps25294\">Avril 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33534 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33533\">Avril 2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33536 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.93pt\"></span></span><span class=\"ps33535\">850<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33537 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11525 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps31230\">4,50 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps22848 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33539 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.38pt\"></span></span><span class=\"ps33538\">643<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33540 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps4237\">Mai 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33542 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33541\">Mai 2031<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33544 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.15pt\"></span></span><span class=\"ps33543\">650<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33545 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33547 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33546\">5,125 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26340 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33548 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">494<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33550 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33549\">Septembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33552 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33551\">Mars 2032<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33554 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.75pt\"></span></span><span class=\"ps33553\">500<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33555 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33556 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps1050\"></span><span class=\"ps1050\">4,625 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26347 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENT PRIV\u00c9 SCHULDSCHEIN \u00c9MIS EN 2022<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps8736 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 3 </span><span class=\"f charStyle-4da12822 ps33557\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33559 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.93pt\"></span></span><span class=\"ps33558\">30<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33560 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33561 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33563 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.73pt\"></span></span><span class=\"ps33562\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33564 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33565 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33546\">5,251 %</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3714 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 4 </span><span class=\"f charStyle-4da12822 ps33566\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33567 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.62pt\"></span></span><span class=\"ps16863\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33568 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33569 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33570 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.42pt\"></span></span><span class=\"ps32346\">52<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33571 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33573 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33572\">Euribor 6 mois </span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-044fe383 ps357\">+\u00a02,10\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23044 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 5 </span><span class=\"f charStyle-4da12822 ps33574\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33575 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.93pt\"></span></span><span class=\"ps33558\">30<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33576 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps26368\">D\u00e9cembre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33577 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33578 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.73pt\"></span></span><span class=\"ps33562\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33579 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33580 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33572\">Euribor 6 mois <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-a696f64a ps357\">+\u00a02,10\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22995 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 6 </span><span class=\"f charStyle-4da12822 ps33581\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33583 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.87pt\"></span></span><span class=\"ps33582\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33584 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33586 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33585\">Octobre 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33587 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.67pt\"></span></span><span class=\"ps32152\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33588 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33589 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps20813\">5,503 %</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4629 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 7 </span><span class=\"f charStyle-4da12822 ps33590\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33592 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.92pt\"></span></span><span class=\"ps33591\">45<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33593 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps26368\">D\u00e9cembre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33594 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps33585\">Octobre 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33596 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.72pt\"></span></span><span class=\"ps33595\">45<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33597 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33598 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33572\">Euribor 6 mois <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-a696f64a ps11382\">+\u00a02,30\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17870 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNT BEI (BANQUE EUROP\u00c9ENNE D\u2019INVESTISSEMENT)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33600 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 1 </span><span class=\"f charStyle-4da12822 ps33599\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33601 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.07pt\"></span></span><span class=\"ps28704\">198<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33602 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps3730\">Juin 2021<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33603 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32097\">Juin 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33604 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.74pt\"></span></span><span class=\"ps31151\">200<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33605 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33607 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33606\">1,265 %</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33609 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 2 </span><span class=\"f charStyle-4da12822 ps33608\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33611 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.35pt\"></span></span><span class=\"ps33610\">246<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33613 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33612\">F\u00e9vrier 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33614 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps3765\">F\u00e9vrier 2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33616 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.46pt\"></span></span><span class=\"ps33615\">250<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33617 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33618 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps9860\">1,463 %</span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33619 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">AUTRES<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps23592 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Dettes sur biens lou\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33620 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.22pt\"></span></span><span class=\"ps28744\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33622 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33623 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33624 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.02pt\"></span></span><span class=\"ps9416\">718<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33625 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33627 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps12974 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33628 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.96pt\"></span></span><span class=\"ps1346\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33629 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33630 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33632 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.76pt\"></span></span><span class=\"ps33631\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33633 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33634 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25972 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Autres dettes financi\u00e8res \u00e0\u00a0long\u00a0terme\u00a0</span><span class=\"f charStyle-4da12822 ps33635\"><span class=\"f ps53\"> </span><sup>(6)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33636 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.15pt\"></span></span><span class=\"ps26339\">161<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33637 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33638 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33639 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.95pt\"></span></span><span class=\"ps17287\">161<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33640 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33641 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11241 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES \u00c0 LONG TERME<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33643 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.63pt\"></span></span><span class=\"ps33642\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps33644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:218.69pt\">Clause d'indexation sur un objectif d'empreinte carbone \u00e0 fin 2025.</span></div><div class=\"ps33645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.71pt\">\u00c9missions r\u00e9alis\u00e9es dans le Cadre de financements verts et durables de Valeo.</span></div><div class=\"ps33646 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:467.15pt\">Coupons \u00e0 taux fixes partiellement \u00e9chang\u00e9s contre des coupons \u00e0 taux variables index\u00e9s sur le taux Euribor 6 mois via des swaps de taux</span><span class=\"f charStyle-b70a9be1 ps460\" style=\"width:1.67pt\"> </span></div><div class=\"ps33648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:30.41pt\">d'int\u00e9r\u00eats</span><span class=\"f charStyle-776a1ec6 ps33647\" style=\"width:127.55pt\"> d'un notionnel de 600 millions d'euros.</span></div><div class=\"ps33649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:309.22pt\">Emprunt \u00e0 taux bonifi\u00e9 amortissable en 6 annuit\u00e9s de 50 millions d'euros \u00e0 partir de juin 2024.</span></div><div class=\"ps33650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:316.83pt\">Emprunt \u00e0 taux bonifi\u00e9 amortissable en 6 annuit\u00e9s de 50 millions d'euros \u00e0 partir de f\u00e9vrier 2025.</span></div><div class=\"ps33653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.21pt\">(6)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:334.73pt\">Les autres dettes financi\u00e8res \u00e0 long terme incluent principalement les int\u00e9r\u00eats courus non \u00e9chus pour </span><span class=\"f charStyle-776a1ec6 ps33651\" style=\"width:8.37pt\">121</span><span class=\"f charStyle-776a1ec6 ps33652\" style=\"width:54.08pt\"> millions d'euros.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3ecc6c69 ps275\" style=\"width:129.28pt\"><span style=\"background-color:inherit\">Le programme de financement </span></span><span class=\"f charStyle-8792821d ps33654\" style=\"width:100.05pt\"><span style=\"background-color:inherit\">Euro Medium Term Note</span></span><span class=\"f charStyle-3ecc6c69 ps412\" style=\"width:1.86pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3ecc6c69 ps275\" style=\"width:36.7pt\"><span style=\"background-color:inherit\">(EMTN) \u00e0 </span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-ba33fa8f ps33655\" style=\"width:192.58pt\"><span style=\"background-color:inherit\">moyen et \u00e0 long terme d\u2019un montant maximum de 5</span></span><span class=\"f charStyle-ba33fa8f ps610\" style=\"width:1.65pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba33fa8f ps275\" style=\"width:56.91pt\"><span style=\"background-color:inherit\">milliards d\u2019euros</span></span><span class=\"f charStyle-3ecc6c69 ps9549\" style=\"width:7.31pt\"><span style=\"background-color:inherit\"> d</span></span><span class=\"f charStyle-7b89e0e3 ps33656\" style=\"width:165.07pt\"><span style=\"background-color:inherit\">ont dispose le Groupe est utilis\u00e9 \u00e0 hauteur de</span></span><span class=\"f charStyle-7b89e0e3 ps425\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps275\" style=\"width:73.73pt\"><span style=\"background-color:inherit\">4,1\u00a0milliards d\u2019euros </span></span><span class=\"f charStyle-68ecf294 ps33657\" style=\"width:12.36pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-165dec60 ps33658\" style=\"width:69.34pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps33659\" style=\"width:73.85pt\"><span style=\"background-color:inherit\">, stable par rapport</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:11.42pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-165dec60 ps28395\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps30960\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:87.39pt\"><span style=\"background-color:inherit\">Par ailleurs, le Groupe </span></span><span class=\"f charStyle-7b89e0e3 ps33660\" style=\"width:141.93pt\"><span style=\"background-color:inherit\">dispose de lignes de cr\u00e9dit bancaires</span></span><span class=\"f charStyle-7b89e0e3 ps639\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:229.26pt\"><span style=\"background-color:inherit\">confirm\u00e9es \u00e0 \u00e9ch\u00e9ance moyenne de 2,6 ans pour un montant</span></span><span class=\"f charStyle-7b89e0e3 ps471\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:30.36pt\"><span style=\"background-color:inherit\">total de </span></span><span class=\"f charStyle-7b89e0e3 ps33661\" style=\"width:8.31pt\"><span style=\"background-color:inherit\">1,6</span></span><span class=\"f charStyle-7b89e0e3 ps33662\" style=\"width:2.4pt\"><span style=\"background-color:inherit\">\u00a0</span></span><span class=\"f charStyle-7b89e0e3 ps33663\" style=\"width:188.23pt\"><span style=\"background-color:inherit\">milliard d\u2019euros, au titre desquelles aucun tirage n\u2019a</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps449\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:67.62pt\"><span style=\"background-color:inherit\">\u00e9t\u00e9 effectu\u00e9 au </span></span><span class=\"f charStyle-7b89e0e3 ps14766\" style=\"width:72.64pt\"><span style=\"background-color:inherit\">31\u00a0d\u00e9cembre 2025</span></span><span class=\"f charStyle-7b89e0e3 ps33664\" style=\"width:89.07pt\"><span style=\"background-color:inherit\">. Ces lignes de cr\u00e9dit</span></span><span class=\"f charStyle-7b89e0e3 ps450\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">bilat\u00e9rales ont \u00e9t\u00e9 n\u00e9goci\u00e9es aupr\u00e8s de neuf banques (notation</span></span><span class=\"f charStyle-7b89e0e3 ps460\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:152.11pt\"><span style=\"background-color:inherit\">moyenne\u00a0: A chez S&amp;P et A1 chez Moody\u2019s).</span></span></div><div class=\"ps26573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ancier des dettes financi\u00e8res \u00e0 long terme<span id=\"i13b91da695294249b070bd676f0069e7\"></span></span></div><div class=\"ps33758 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2114 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:48pt\"></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:47.25pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2106\"><div><div class=\"ps33666 ss491\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"7\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33668 ss2107\"><div><div class=\"ps509 ss52\"><span class=\"f charStyle-6bef0edd ps33667\">\u00c9ch\u00e9ances des valeurs au bilan<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33670 ss411\"><div><div class=\"ps9323 ss379\"><span class=\"f charStyle-6bef0edd ps33669\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps9325 ss379\"><span class=\"f charStyle-6bef0edd ps14624\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps27531 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps33671\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33673 ss2110\"><div><div class=\"ps509 ss2109\"><span class=\"f charStyle-ae6044e9 ps33672\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33674 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-ae6044e9 ps31015\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33676 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps33675\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33677 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps10586\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13683 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps26392\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33679 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps33678\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33682 ss624\"><div><div class=\"ps509 ss319\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps10452\">2031</span><span class=\"f charStyle-98f46611 ps33680\"> et </span></div><div class=\"ps523 ss319\"><span class=\"f charStyle-98f46611 ps33681\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33683 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.43pt\"></span></span><span class=\"ps29927\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33685 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33686 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.26pt\"></span></span><span class=\"ps3427\">751<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33687 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.71pt\"></span></span><span class=\"ps1005\">698<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33688 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.71pt\"></span></span><span class=\"ps25437\">572<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33690 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.49pt\"></span></span><span class=\"ps33689\">868<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33691 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.12pt\"></span></span><span class=\"ps9966\">1\u00a0137<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33693 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.6pt\"></span></span><span class=\"ps33692\">162<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33694 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33695 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.96pt\"></span></span><span class=\"ps1346\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33696 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33698 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.41pt\"></span></span><span class=\"ps33697\">50<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33699 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33700 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunt BEI (Banque europ\u00e9enne <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-a696f64a ps10\">d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33701 ss1602\"><div><div class=\"ps6851 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.26pt\"></span></span><span class=\"ps30997\">444<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33703 ss1270\"><div><div class=\"ps6851 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.52pt\"></span></span><span class=\"ps33702\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33705 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33706 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33707 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33708 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.12pt\"></span></span><span class=\"ps28199\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33709 ss353\"><div><div class=\"ps6851 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Dettes sur biens lou\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33710 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.22pt\"></span></span><span class=\"ps25814\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33711 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">132<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33712 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33714 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.17pt\"></span></span><span class=\"ps33713\">108<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33715 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.71pt\"></span></span><span class=\"ps25700\">105<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33717 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.81pt\"></span></span><span class=\"ps33716\">59<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33718 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.61pt\"></span></span><span class=\"ps31283\">195<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33719 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.96pt\"></span></span><span class=\"ps3784\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33720 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.5pt\"></span></span><span class=\"ps29973\">110<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33721 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.09pt\"></span></span><span class=\"ps28640\">60<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33722 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.25pt\"></span></span><span class=\"ps26061\">110<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33724 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.42pt\"></span></span><span class=\"ps33723\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33725 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33726 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Autres emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33728 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.2pt\"></span></span><span class=\"ps33727\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33730 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.39pt\"></span></span><span class=\"ps33729\">23<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33731 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.39pt\"></span></span><span class=\"ps10898\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33732 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.36pt\"></span></span><span class=\"ps28952\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33733 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.91pt\"></span></span><span class=\"ps9373\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33734 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.91pt\"></span></span><span class=\"ps9373\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33736 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.45pt\"></span></span><span class=\"ps33735\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps575 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus non \u00e9chus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33738 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.46pt\"></span></span><span class=\"ps33737\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33740 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.21pt\"></span></span><span class=\"ps33739\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33741 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33742 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33743 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33744 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33745 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3833 ss2113\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss491\"><span class=\"f charStyle-96b05324 ps10\">\u00c0\u00a0LONG\u00a0TERME</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33747 ss397\"><div><div class=\"ps23602 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.63pt\"></span></span><span class=\"ps33746\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33749 ss1291\"><div><div class=\"ps23602 ss1241\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.35pt\"></span></span><span class=\"ps33748\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33751 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.6pt\"></span></span><span class=\"ps33750\">1\u00a0143<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33753 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.38pt\"></span></span><span class=\"ps33752\">1\u00a0016<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33754 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.17pt\"></span></span><span class=\"ps33713\">951<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33755 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.61pt\"></span></span><span class=\"ps4188\">980<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33757 ss624\"><div><div class=\"ps23602 ss319\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.64pt\"></span></span><span class=\"ps33756\">1\u00a0342<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33759 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-435f58e9 ps275\"><span style=\"background-color:inherit\">\u00c9ch\u00e9ancier contractuel des dettes financi\u00e8res \u00e0 long terme</span><span id=\"ib0fb3e313da449ab9ccd4d3bbe9acf0e\"></span></span></div><div class=\"ps21910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.12pt\"><span style=\"background-color:inherit\">Dans sa gestion du risque de liquidit\u00e9, le Groupe veille \u00e0 r\u00e9partir les \u00e9ch\u00e9ances de remboursement de sa dette \u00e0 long terme\u00a0: au</span></span><span class=\"f charStyle-68ecf294 ps1717\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps21911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps9314\" style=\"width:239.26pt\"><span style=\"background-color:inherit\">, la maturit\u00e9 moyenne de la dette Valeo (soci\u00e9t\u00e9 m\u00e8re) ressort \u00e0 </span></span><span class=\"f charStyle-68ecf294 ps33760\" style=\"width:10.76pt\"><span style=\"background-color:inherit\">3,4</span><span id=\"i75d2ecb028f54648b25eb91ce843565a_9795\"></span></span><span class=\"f charStyle-68ecf294 ps33761\" style=\"width:82.7pt\"><span style=\"background-color:inherit\"> ans contre 2,8 ans au </span></span><span class=\"f charStyle-165dec60 ps33762\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps33763\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps8394 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">Les flux futurs pr\u00e9sent\u00e9s ci-dessous, \u00e0 la fois les coupons et les remboursements du principal, ne sont pas actualis\u00e9s. Pour les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps21913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:134.53pt\">int\u00e9r\u00eats variables, la courbe de taux </span><span class=\"f charStyle-e8054d08 ps15763\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps33764\" style=\"width:13.38pt\"> au </span><span class=\"f charStyle-165dec60 ps29850\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps33765\" style=\"width:50.82pt\"> a \u00e9t\u00e9 utilis\u00e9e.</span></div><div class=\"ps33864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2106\"><div><div class=\"ps33666 ss491\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"8\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33668 ss2116\"><div><div class=\"ps509 ss2115\"><span class=\"f charStyle-6bef0edd ps4036\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33670 ss2117\"><div><div class=\"ps9323 ss319\"><span class=\"f charStyle-a8b3a41c ps22664\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps9325 ss319\"><span class=\"f charStyle-a8b3a41c ps33766\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33768 ss414\"><div><div class=\"ps9325 ss200\"><span class=\"f charStyle-5ffca5e0 ps33767\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33769 ss1769\"><div><div class=\"ps509 ss1768\"><span class=\"f charStyle-5ffca5e0 ps275\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30275 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-5ffca5e0 ps3875\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33771 ss2118\"><div><div class=\"ps9325 ss204\"><span class=\"f charStyle-a8b3a41c ps33770\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33772 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps15639\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33773 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps15649\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33774 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps23465\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33775 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps23605\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33778 ss402\"><div><div class=\"ps509 ss387\" style=\"font-size:12pt\"><span class=\"f charStyle-f660c20c ps33776\">2031</span><span class=\"f charStyle-f660c20c ps33777\"> et </span></div><div class=\"ps523 ss387\"><span class=\"f charStyle-f660c20c ps16452\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33683 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.43pt\"></span></span><span class=\"ps33779\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33781 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.29pt\"></span></span><span class=\"ps33780\">166<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33782 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.39pt\"></span></span><span class=\"ps31014\">927<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33784 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.2pt\"></span></span><span class=\"ps33783\">837<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33786 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.02pt\"></span></span><span class=\"ps33785\">730<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33787 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.86pt\"></span></span><span class=\"ps28786\">945<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33789 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.02pt\"></span></span><span class=\"ps33788\">1\u00a0230<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33790 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.71pt\"></span></span><span class=\"ps32075\">4\u00a0835<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33693 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.6pt\"></span></span><span class=\"ps33791\">162<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33792 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.7pt\"></span></span><span class=\"ps27342\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33794 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.65pt\"></span></span><span class=\"ps33793\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33795 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.36pt\"></span></span><span class=\"ps9394\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33797 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.12pt\"></span></span><span class=\"ps33796\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33799 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33800 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33802 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.42pt\"></span></span><span class=\"ps33801\">180<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-044fe383 ps10\">d'investissement)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33701 ss353\"><div><div class=\"ps6851 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.26pt\"></span></span><span class=\"ps17303\">444<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33804 ss273\"><div><div class=\"ps6851 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.89pt\"></span></span><span class=\"ps33803\">106<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33805 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.71pt\"></span></span><span class=\"ps18620\">105<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33807 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.73pt\"></span></span><span class=\"ps33806\">103<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33809 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.7pt\"></span></span><span class=\"ps33808\">102<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33811 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.67pt\"></span></span><span class=\"ps33810\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33812 ss653\"><div><div class=\"ps6851 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33813 ss276\"><div><div class=\"ps6851 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.94pt\"></span></span><span class=\"ps31034\">467<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Dettes sur biens lou\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33710 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33815 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.61pt\"></span></span><span class=\"ps18585\">159<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33817 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.74pt\"></span></span><span class=\"ps33816\">134<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33818 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.42pt\"></span></span><span class=\"ps27337\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33820 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.8pt\"></span></span><span class=\"ps33819\">117<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33821 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.27pt\"></span></span><span class=\"ps33081\">68<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33822 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.92pt\"></span></span><span class=\"ps33181\">215<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33823 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.6pt\"></span></span><span class=\"ps23301\">818<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33719 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.96pt\"></span></span><span class=\"ps9790\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33825 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.21pt\"></span></span><span class=\"ps33824\">124<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33826 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.5pt\"></span></span><span class=\"ps10740\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33827 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.7pt\"></span></span><span class=\"ps33808\">120<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33828 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.1pt\"></span></span><span class=\"ps9732\">126<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33829 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33830 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33831 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.26pt\"></span></span><span class=\"ps23666\">441<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Autres emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33728 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.2pt\"></span></span><span class=\"ps16827\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33832 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.64pt\"></span></span><span class=\"ps26764\">23<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33833 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.39pt\"></span></span><span class=\"ps32263\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33834 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.36pt\"></span></span><span class=\"ps9394\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33836 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.91pt\"></span></span><span class=\"ps33835\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33837 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.91pt\"></span></span><span class=\"ps33835\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33838 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.45pt\"></span></span><span class=\"ps4352\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33839 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.95pt\"></span></span><span class=\"ps731\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps575 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Int\u00e9r\u00eats courus non \u00e9chus</span><span class=\"f charStyle-4da12822 ps33840\"><span class=\"f ps53\"> </span><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33738 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.46pt\"></span></span><span class=\"ps33841\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33843 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.46pt\"></span></span><span class=\"ps33842\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33844 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33845 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33846 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33847 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33848 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33849 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.21pt\"></span></span><span class=\"ps33824\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3833 ss2113\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss491\"><span class=\"f charStyle-96b05324 ps10\">\u00c0\u00a0LONG\u00a0TERME</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33747 ss624\"><div><div class=\"ps23602 ss319\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.63pt\"></span></span><span class=\"ps33850\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33852 ss400\"><div><div class=\"ps23602 ss200\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.38pt\"></span></span><span class=\"ps33851\">706<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33854 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.47pt\"></span></span><span class=\"ps33853\">1\u00a0359<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33856 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">1\u00a0189<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33858 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.87pt\"></span></span><span class=\"ps33857\">1\u00a0128<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33860 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.86pt\"></span></span><span class=\"ps33859\">1\u00a0065<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33862 ss402\"><div><div class=\"ps23602 ss387\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.55pt\"></span></span><span class=\"ps33861\">1\u00a0455<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33863 ss2119\"><div><div class=\"ps23602 ss204\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.34pt\"></span></span><span class=\"ps33051\">6\u00a0902<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4fadb3f4 ps269\" style=\"width:467.11pt\">Les flux de tr\u00e9sorerie relatifs aux Int\u00e9r\u00eats courus non \u00e9chus sont inclus dans les flux de tr\u00e9sorerie contractuels \u00e0 moins d'un an des dettes</span><span class=\"f charStyle-4fadb3f4 ps455\" style=\"width:1.6pt\"> </span></div><div class=\"ps33867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4fadb3f4 ps269\" style=\"width:35.02pt\">financi\u00e8res</span><span class=\"f charStyle-776a1ec6 ps33866\" style=\"width:93.03pt\"> auxquelles ils se rattachent.</span></div><div class=\"ps33868 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Engagements hors bilan li\u00e9s au financement du Groupe<span id=\"i1610200db2f44ff5a6d044ae418a2bb9\"></span></span></div><div class=\"ps33869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.2pt\">Certains contrats de financement comportent des clauses de remboursement anticip\u00e9 en cas de non-respect de ratios</span><span class=\"f charStyle-165dec60 ps1231\" style=\"width:1.96pt\"> </span></div><div class=\"ps33870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:232.04pt\">financiers. Le\u00a0principal ratio est d\u00e9crit dans le tableau suivant\u00a0:</span></div><div class=\"ps33879 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:127.5pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-right:1pt solid #ffffff;padding:0\"><div class=\"ps1 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-ae6044e9 ps10\">Contrats de financement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:1pt solid #ffffff;padding:0\"><div class=\"ps33668 ss1605\"><div><div class=\"ps746 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Ratio<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33871 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-ae6044e9 ps10\">Seuils<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33874 ss2121\"><div><div class=\"ps746 ss2120\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps16723\">Ratio au </span><span class=\"f charStyle-6bef0edd ps28653\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-6bef0edd ps33872\"> </span><span class=\"f charStyle-873f2209 ps33873\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-right:1pt solid #ffffff;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Lignes de cr\u00e9dit </span></div></div></div></td><td rowspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:1pt solid #ffffff;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33670 ss2122\"><div><div class=\"ps14824 ss1604\"><span class=\"f charStyle-044fe383 ps10\">Endettement financier net consolid\u00e9 / </span></div><div class=\"ps33875 ss1604\"><span class=\"f charStyle-044fe383 ps10\">EBITDA ajust\u00e9 consolid\u00e9</span></div></div></div></td><td rowspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33876 ss2123\"><div><div class=\"ps13688 ss696\"><span class=\"f charStyle-a696f64a ps10\">&lt; 3,5<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"4\" style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33878 ss2124\"><div><div class=\"ps13688 ss2120\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:113.15pt\"></span></span><span class=\"ps33877\">1,3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps519 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-044fe383 ps10\">d'investissement)</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps16552 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-right:1pt solid #ffffff;padding:0\"><div class=\"ps10526 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33880 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-776a1ec6 ps275\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\">Calcul\u00e9 sur 12 mois.</span></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:51.76pt\">Les emprun</span><span class=\"f charStyle-165dec60 ps33881\" style=\"width:177.53pt\">ts obligataires, \u00e9mis dans le cadre du</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:49.75pt\">programme </span><span class=\"f charStyle-4afdd138 ps33882\" style=\"width:179.54pt\">de financement \u00e0 moyen et long terme Euro</span><span class=\"f charStyle-4afdd138 ps425\" style=\"width:1.9pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:78.13pt\">Medium Term Note, </span><span class=\"f charStyle-165dec60 ps33883\" style=\"width:151.14pt\">comportent une option qui permet aux</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:153.15pt\">obligataires de demander le rembourse</span><span class=\"f charStyle-165dec60 ps33884\" style=\"width:76.13pt\">ment anticip\u00e9 ou le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">rachat de leurs obligations si un changement de contr\u00f4le de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Valeo intervient et qu\u2019il entra\u00eene (i) un retrait de la notation</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">de l\u2019obligation ou (ii) une baisse de la notation de l\u2019obligation</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">en dessous de celle de valeur d\u2019investissement (investment</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">grade), dans l\u2019hypoth\u00e8se o\u00f9 elle \u00e9tait pr\u00e9c\u00e9demment not\u00e9e</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">valeur d\u2019investissement, ou (iii) une baisse d\u2019une cat\u00e9gorie de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">notation (par exemple de Ba1 \u00e0 Ba2) si cette notation \u00e9tait</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:206.99pt\">pr\u00e9c\u00e9demment en dessous de valeur d\u2019investissement.</span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.32pt\">Les autres financements (notamment les pr\u00eats bilat\u00e9raux, les</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.27pt\">lignes de cr\u00e9dit et les placements priv\u00e9s Schuldscheindarlehen)</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.27pt\">comportent une clause de changement de contr\u00f4le qui permet</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.29pt\">aux pr\u00eateurs ou investisseurs de demander le remboursement</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">anticip\u00e9 si un changement de contr\u00f4le de Valeo intervient et,</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">pour certains de ces financements, que Valeo n\u2019obtienne pas</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">une notation de valeur d\u2019investissement (investment grade) \u00e0</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:191.72pt\">l\u2019expiration de la p\u00e9riode de changement de contr\u00f4le.</span></div><div class=\"ps4432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Les lignes de cr\u00e9dit et cr\u00e9dits bilat\u00e9raux mis en place avec</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">les banques du pool bancaire de Valeo, l'emprunt aupr\u00e8s de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">la Banque europ\u00e9enne d'investissement, et les dettes long</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">terme du Groupe comportent des clauses dites de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">crois\u00e9 (cross default) en vertu desquelles, si un certain</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">montant de dette financi\u00e8re est susceptible de devenir</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">exigible par anticipation, les autres dettes financi\u00e8res</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.03pt\">peuvent \u00e9galement \u00eatre exig\u00e9es par anticipation.</span><span class=\"f charStyle-165dec60 ps33885\" style=\"width:1.96pt\"> </span></div><div class=\"ps2339 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">\u00c0 la date d\u2019arr\u00eat\u00e9 des comptes consolid\u00e9s, le Groupe pr\u00e9voit</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-fa2682f9 ps3180\" style=\"width:219.71pt\"> respecter les engagements attach\u00e9s \u00e0 sa dette sur les</span><span class=\"f charStyle-fa2682f9 ps639\" style=\"width:1.69pt\"> </span></div><div class=\"ps2341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-fa2682f9 ps448\" style=\"width:55.05pt\">prochains mois.</span></div><div class=\"ps33886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Notation de cr\u00e9dit du Groupe<span id=\"i2f560f4041344d6f8498412cc290067d\"></span></span></div><div class=\"ps15022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:280.51pt\">Le Groupe fait l'objet de notations financi\u00e8res aupr\u00e8s de plusieurs agences.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33887\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33898 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:117.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2126\"><div><div class=\"ps509 ss2125\"><span class=\"f charStyle-ae6044e9 ps10\">Agence de notation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps14834 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps13753\">Date de publication<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1940 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps14457\">Dette long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28190 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps25696\">Perspective<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28193 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps17746\">Dette court terme<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2126\"><div><div class=\"ps746 ss2125\"><span class=\"f charStyle-a696f64a ps10\">Standard &amp; Poor's<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33889 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33888\">13 mars 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20832 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33890\">BB</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps28196 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33891\">Stable</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps28198 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps33892\">B<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2126\"><div><div class=\"ps746 ss2125\"><span class=\"f charStyle-a696f64a ps10\">Moody\u2019s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33894 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33893\">26 septembre 2024</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20841 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps27708\">Ba1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33895 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps30554\">N\u00e9gative<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33897 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33896\">Non-prime</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33900 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9v\u00e9nement <span class=\"f ps53\"> </span><span id=\"i8735a738e00c4fffa43ece4e9ca2faff\"></span></span><span class=\"f charStyle-aa33f529 ps33899\">post\u00e9rieur</span><span class=\"f charStyle-aa33f529 ps31840\"> \u00e0 la cl\u00f4ture</span></div><div class=\"ps33901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:24.74pt\">N\u00e9ant.</span></div><div class=\"ps33902 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.2.2. <span id=\"i06722425ec8641f6a90e7677de381282\"></span></span><span class=\"f charStyle-9417a400 ps13292\">Financements court terme et concours bancaires</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:135.64pt\">Ce poste inclut essentiellement les </span><span class=\"f charStyle-e8054d08 ps33904\" style=\"width:82.3pt\">Negotiable European</span><span class=\"f charStyle-e8054d08 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a702cc9d ps6588\" style=\"width:115.78pt\">Commercial Paper (NEU CP)</span><span class=\"f charStyle-81f42323 ps33906\" style=\"width:102.19pt\">, anciennement billets de</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:35.61pt\">tr\u00e9sorerie,</span><span class=\"f charStyle-165dec60 ps33908\" style=\"width:3.09pt\"> </span><span class=\"f charStyle-05bafb21 ps33909\" style=\"width:179.21pt\">\u00e9mis par Valeo pour se financer \u00e0 court terme. Ils</span><span class=\"f charStyle-05bafb21 ps444\" style=\"width:1.68pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:65.4pt\">ont une maturit\u00e9</span><span class=\"f charStyle-165dec60 ps17794\" style=\"width:152.5pt\"> comprise entre 1 et 12 mois et sont</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps33912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:87.3pt\">\u00e9valu\u00e9s au co\u00fbt amorti.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Afin de refl\u00e9ter les besoins en tr\u00e9sorerie du Groupe, les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">financements court terme sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">nets de tr\u00e9sorerie sur op\u00e9rations de financement dans le</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.3pt\">Tableau des flux de tr\u00e9sorerie consolid\u00e9s.</span></div><div class=\"ps33916 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-373e86b9 ps10\">Negotiable European Commercial paper</span><span class=\"f charStyle-044fe383 ps9233\"> (Billets de tr\u00e9sorerie)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.1pt\"></span></span><span class=\"ps27853\">294<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.13pt\"></span></span><span class=\"ps33913\">525<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">300<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.7pt\"></span></span><span class=\"ps574\">315<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">FINANCEMENTS COURT TERME ET CONCOURS BANCAIRES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.2pt\"></span></span><span class=\"ps33914\">645<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.35pt\"></span></span><span class=\"ps33915\">844<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.25pt\">Valeo dispose d'un programme de financement \u00e0 court terme sous forme de billets de tr\u00e9sorerie plafonn\u00e9 \u00e0 2,5 milliards</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.19pt\">d\u2019euros.</span><span class=\"f charStyle-165dec60 ps33917\" style=\"width:3.7pt\"> </span><span class=\"f charStyle-9c680f66 ps33918\" style=\"width:14.02pt\">Au\u00a0</span><span class=\"f charStyle-165dec60 ps19269\" style=\"width:70.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-9c680f66 ps33919\" style=\"width:162.2pt\">, ce programme est utilis\u00e9 \u00e0 hauteur de </span><span class=\"f charStyle-9c680f66 ps33920\" style=\"width:46.52pt\">294 millions</span><span class=\"f charStyle-9c680f66 ps33921\" style=\"width:65.13pt\"> d'euros (contre </span><span class=\"f charStyle-9c680f66 ps33922\" style=\"width:45.49pt\">525 millions</span><span class=\"f charStyle-9c680f66 ps33923\" style=\"width:44.05pt\"> d'euros au</span><span class=\"f charStyle-9c680f66 ps8438\" style=\"width:1.93pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-9c680f66 ps27793\" style=\"width:3.99pt\">).</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.3<span id=\"i4db9c628cd3a424da817f8f7161b1c6e\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30863\"><span style=\"display:inline-block;height:8.71pt;width:14.75pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Endettement financier net<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.6pt\">L\u2019endettement financier net comprend l\u2019ensemble des dettes financi\u00e8res \u00e0 long terme, les financements \u00e0 court terme et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:102.59pt\">les concours bancaires (cf. </span><span class=\"f charStyle-165dec60 ps33926\" style=\"width:41.53pt\">Note 9.1.2.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33927\" style=\"width:314.46pt\">, page 431), sous d\u00e9duction du montant des pr\u00eats et autres actifs financiers \u00e0 long</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">terme, de la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie, ainsi que la juste valeur des instruments d\u00e9riv\u00e9s sur risque de change<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:209.36pt\">et sur risque de\u00a0taux associ\u00e9s \u00e0 l\u2019un de ces \u00e9l\u00e9ments (cf. </span><span class=\"f charStyle-165dec60 ps33928\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps33929\" style=\"width:68.06pt\">, pages 433 \u00e0 438).</span></div><div class=\"ps33986 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:152.25pt\"></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:15pt\"><td rowspan=\"2\" style=\"padding:0\"><div class=\"ps1 ss2128\"><div><div class=\"ps10309 ss2127\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33930 ss2130\"><div><div class=\"ps509 ss2129\"><span class=\"f charStyle-6bef0edd ps18554\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss2130\"><div><div class=\"ps509 ss2129\"><span class=\"f charStyle-ae6044e9 ps33931\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33933 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps33932\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps29892 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps33934\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps31524 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31526 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps33932\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31527 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps33934\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27204 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33936 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.99pt\"></span></span><span class=\"ps33935\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29899 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.93pt\"></span></span><span class=\"ps559\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31529 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.59pt\"></span></span><span class=\"ps33937\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31530 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.12pt\"></span></span><span class=\"ps33796\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31532 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.56pt\"></span></span><span class=\"ps13229\">1\u00a0334<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27212 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33938 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29906 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.86pt\"></span></span><span class=\"ps33939\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31534 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.86pt\"></span></span><span class=\"ps33939\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31536 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31538 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.92pt\"></span></span><span class=\"ps33940\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27222 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.92pt\"></span></span><span class=\"ps33940\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33941 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29914 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.67pt\"></span></span><span class=\"ps1469\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31541 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.67pt\"></span></span><span class=\"ps1469\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31543 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31544 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27234 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10370 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER BRUT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33942 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.62pt\"></span></span><span class=\"ps26053\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps29921 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.02pt\"></span></span><span class=\"ps20856\">1\u00a0129<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33943 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6\u00a0561<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33944 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.76pt\"></span></span><span class=\"ps9318\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33946 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.16pt\"></span></span><span class=\"ps33945\">2\u00a0178<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27246 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.3pt\"></span></span><span class=\"ps4356\">7\u00a0037<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss2132\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-044fe383 ps10\">Pr\u00eats et cr\u00e9ances \u00e0 long terme </span></div><div class=\"ps748 ss2127\"><span class=\"f charStyle-044fe383 ps10\">(y\u00a0compris\u00a0int\u00e9r\u00eats courus)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33947 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.49pt\"></span></span><span class=\"ps10034\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps29928 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33948 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.49pt\"></span></span><span class=\"ps10034\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33949 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.66pt\"></span></span><span class=\"ps31634\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33950 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33951 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.66pt\"></span></span><span class=\"ps31634\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33952 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33953 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.34pt\"></span></span><span class=\"ps29994\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33954 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.34pt\"></span></span><span class=\"ps29994\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33955 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33957 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.68pt\"></span></span><span class=\"ps33956\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33958 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.68pt\"></span></span><span class=\"ps33956\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33959 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33961 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.51pt\"></span></span><span class=\"ps33960\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33962 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.51pt\"></span></span><span class=\"ps33960\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33963 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33965 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.81pt\"></span></span><span class=\"ps33964\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33966 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.81pt\"></span></span><span class=\"ps33964\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss2132\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s associ\u00e9s sur risque </span></div><div class=\"ps748 ss2127\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0change et sur risque de taux\u00a0</span><span class=\"f charStyle-4da12822 ps33967\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33969 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.93pt\"></span></span><span class=\"ps33968\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33970 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.9pt\"></span></span><span class=\"ps545\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33971 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.91pt\"></span></span><span class=\"ps33037\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33972 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.93pt\"></span></span><span class=\"ps33968\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33973 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.75pt\"></span></span><span class=\"ps26847\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33974 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">(14)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16458 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER NET<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33976 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.01pt\"></span></span><span class=\"ps33975\">5\u00a0402<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33978 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.98pt\"></span></span><span class=\"ps33977\">(1\u00a0380)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33980 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.07pt\"></span></span><span class=\"ps33979\">4\u00a0022<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33982 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.62pt\"></span></span><span class=\"ps33981\">4\u00a0831<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33984 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.47pt\"></span></span><span class=\"ps33983\">(1\u00a0018)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33985 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.35pt\"></span></span><span class=\"ps33099\">3\u00a0813<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.1pt\">La juste valeur des instruments d\u00e9riv\u00e9s associ\u00e9s \u00e0 un \u00e9l\u00e9ment de l\u2019endettement financier net correspond \u00e0 celle des instruments de change</span><span class=\"f charStyle-776a1ec6 ps471\" style=\"width:1.7pt\"> </span></div><div class=\"ps33992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:342.34pt\">et\u00a0de\u00a0taux couvrant des actifs ou passifs relatifs aux activit\u00e9s de financement du Groupe \u00e0 fin d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps33988\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps33989\" style=\"width:55.38pt\"> et fin d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps33990\" style=\"width:15.97pt\">2024</span><span class=\"f charStyle-776a1ec6 ps33991\" style=\"width:1.37pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps33994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.1<span id=\"ic8cbb28adfed467db24c234905a27f8b\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps33993\"><span style=\"display:inline-block;height:8.22pt;width:10.26pt\"></span></span><span class=\"ps29285\">Pr\u00eats et cr\u00e9ances \u00e0 long terme</span></span></div><div class=\"ps33996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Cette cat\u00e9gorie regroupe essentiellement les pr\u00eats \u00e0 long terme. Ils sont \u00e9valu\u00e9s selon la m\u00e9thode du co\u00fbt amorti</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps33997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">en\u00a0utilisant le taux d\u2019int\u00e9r\u00eat effectif. Ils figurent dans l\u2019\u00e9tat de la situation financi\u00e8re, sur la ligne \u00ab\u00a0Autres actifs financiers</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33998 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.07pt\">non courants\u00a0\u00bb.</span></div><div class=\"ps26527 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.2<span id=\"ibd55691eb89a4abf9eeec2c1aae99ee4\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34000\"><span style=\"display:inline-block;height:8.22pt;width:8.58pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie</span></div><div class=\"ps6626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">Ce poste est constitu\u00e9 de valeurs mobili\u00e8res de placement (de type OPCVM mon\u00e9taire et mon\u00e9taire court terme), de d\u00e9p\u00f4ts et</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:245.98pt\">placements sans risque \u00e0 tr\u00e8s court terme facilement mobilisables</span><span class=\"f charStyle-165dec60 ps34001\" style=\"width:235.3pt\"> ou cessibles ainsi que de liquidit\u00e9s sur des comptes courants</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38pt\">bancaires.</span></div><div class=\"ps5587 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:253.2pt\">Les \u00e9l\u00e9ments inclus dans ce poste sont qualifi\u00e9s d\u2019\u00e9quivalents de </span><span class=\"f charStyle-79bb7869 ps34004\" style=\"width:227.99pt\">tr\u00e9sorerie, car ils sont facilement convertibles en un montant</span><span class=\"f charStyle-79bb7869 ps1121\" style=\"width:1.79pt\"> </span></div><div class=\"ps34007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:23.25pt\">connu</span><span class=\"f charStyle-c709af45 ps34005\" style=\"width:3.66pt\"> </span><span class=\"f charStyle-165dec60 ps13790\" style=\"width:252.9pt\">de tr\u00e9sorerie, tout en \u00e9tant soumis \u00e0 un risque n\u00e9gligeable de </span><span class=\"f charStyle-79bb7869 ps34006\" style=\"width:201.52pt\">changement de valeur. Ces actifs financiers courants,</span><span class=\"f charStyle-79bb7869 ps639\" style=\"width:1.79pt\"> </span></div><div class=\"ps12079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:50.16pt\">comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34008\" style=\"width:420.15pt\"> \u00e0 la juste valeur par le r\u00e9sultat, sont d\u00e9tenus dans l\u2019optique de faire face aux besoins de tr\u00e9sorerie \u00e0 court terme.</span></div><div class=\"ps34013 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps4571 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Valeurs mobili\u00e8res de placement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.59pt\"></span></span><span class=\"ps34009\">1\u00a0247<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.94pt\"></span></span><span class=\"ps34010\">1\u00a0585<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Liquidit\u00e9s et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.78pt\"></span></span><span class=\"ps34011\">1\u00a0234<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.62pt\"></span></span><span class=\"ps28136\">1\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TR\u00c9SORERIE ET \u00c9QUIVALENTS DE TR\u00c9SORERIE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.9pt\"></span></span><span class=\"ps30832\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.06pt\"></span></span><span class=\"ps34012\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:208.9pt\">La tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34014\" style=\"width:20.43pt\">2 481</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.42pt\">millions</span><span class=\"f charStyle-165dec60 ps9928\" style=\"width:48.16pt\"> d\u2019euros au </span><span class=\"f charStyle-165dec60 ps34016\" style=\"width:70.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34017\" style=\"width:60.8pt\">, compos\u00e9s de </span><span class=\"f charStyle-165dec60 ps34018\" style=\"width:20.01pt\">1 247<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.42pt\">millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps9928\" style=\"width:199.86pt\"> d'euros de\u00a0valeurs mobili\u00e8res de placement ayant</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.74pt\">un risque de\u00a0variation de valeur tr\u00e8s faible et </span><span class=\"f charStyle-165dec60 ps34021\" style=\"width:51.52pt\">1 234 millions</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps17140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">d'euros de disponibilit\u00e9s. Les\u00a0valeurs mobili\u00e8res de</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">placement sont uniquement constitu\u00e9es de FCP<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:44.5pt\">mon\u00e9taires.</span></div><div class=\"ps12341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.27pt\">Ces \u00e9quivalents de tr\u00e9sorerie sont comptabilis\u00e9s \u00e0 la juste<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps415\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12342 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:24.6pt\">valeur </span><span class=\"f charStyle-165dec60 ps19279\" style=\"width:60.86pt\">de niveau 1 ou 2.</span></div><div class=\"ps34022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion de la liquidit\u00e9 \u00e0 court terme<span id=\"ib69b72d363d84d2e876a89f15261fb0f\"></span></span></div><div class=\"ps34023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">La tr\u00e9sorerie du Groupe est centralis\u00e9e lorsque la l\u00e9gislation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">locale le permet. Dans ce cas, les exc\u00e9dents de tr\u00e9sorerie ou</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps34025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">les besoins de financement des filiales sont centralis\u00e9s et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38.46pt\">plac\u00e9s ou </span><span class=\"f charStyle-1abed7d4 ps34026\" style=\"width:172.89pt\">financ\u00e9s aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re, Valeo. Un </span><span class=\"f charStyle-a3c65629 ps34027\" style=\"width:17.91pt\">cash</span><span class=\"f charStyle-a3c65629 ps410\" style=\"width:1.93pt\"> </span></div><div class=\"ps34031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a3c65629 ps275\" style=\"width:50.35pt\">pooling cross</span><span class=\"f charStyle-e8054d08 ps34029\" style=\"width:28.19pt\"> border<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34030\" style=\"width:150.78pt\"> multi-devises est en place, en euro, en</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:23.94pt\">dollar </span><span class=\"f charStyle-53279637 ps30383\" style=\"width:40.73pt\">am\u00e9ricain, </span><span class=\"f charStyle-165dec60 ps16178\" style=\"width:164.63pt\">en forint hongrois et\u00a0en couronne tch\u00e8que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:157.54pt\">pour les filiales europ\u00e9ennes, en dollar <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps34033\" style=\"width:71.73pt\">am\u00e9ricain pour les</span><span class=\"f charStyle-53279637 ps415\" style=\"width:1.85pt\"> </span></div><div class=\"ps34015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:191.43pt\">filiales am\u00e9ricaines et en renminbi chinois pour <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34035\" style=\"width:37.87pt\">les filiales</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.12pt\">chinoises. Ce </span><span class=\"f charStyle-e8054d08 ps34036\" style=\"width:111.88pt\">cash pooling cross border</span><span class=\"f charStyle-165dec60 ps34037\" style=\"width:57.28pt\"> multi-devises</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">permet une gestion centralis\u00e9e quotidienne de la tr\u00e9sorerie.</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps17139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:98.56pt\">Dans les autres pays, des </span><span class=\"f charStyle-e8054d08 ps34038\" style=\"width:49.38pt\">cash pooling</span><span class=\"f charStyle-165dec60 ps34039\" style=\"width:81.32pt\"> locaux sont en place</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps17140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">ou des pr\u00eats et emprunts r\u00e9guliers sont enregistr\u00e9s avec la</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps17141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:210.05pt\">soci\u00e9t\u00e9 m\u00e8re, Valeo. Dans certains pays, ces op\u00e9rations </span><span class=\"f charStyle-e8054d08 ps34040\" style=\"width:19.24pt\">cross</span><span class=\"f charStyle-e8054d08 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps17142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:25.39pt\">border</span><span class=\"f charStyle-165dec60 ps34041\" style=\"width:203.91pt\"> peuvent g\u00e9n\u00e9rer des frottements fiscaux ou \u00eatre</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34043 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.21pt\">soumises \u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps34042\" style=\"width:182.08pt\">des r\u00e9glementations particuli\u00e8res et n\u00e9cessiter<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps467\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps22241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:63.49pt\">des autorisations</span><span class=\"f charStyle-165dec60 ps34044\" style=\"width:61.51pt\"> administratives.</span></div><div class=\"ps12344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe g\u00e8re \u00e9galement sa liquidit\u00e9 en veillant \u00e0 la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:133.96pt\">remont\u00e9e de dividendes des filiales.</span></div><div class=\"ps34045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de contrepartie bancaire<span id=\"i494f663036ba4c0483dc2a920d5233ca\"></span></span></div><div class=\"ps18628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">Les liquidit\u00e9s exc\u00e9dentaires du Groupe sont plac\u00e9es aupr\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps18629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.55pt\">de </span><span class=\"f charStyle-81f42323 ps34046\" style=\"width:215.72pt\">soci\u00e9t\u00e9s de gestion, filiales d\u2019\u00e9tablissements financiers de</span><span class=\"f charStyle-81f42323 ps455\" style=\"width:1.78pt\"> </span></div><div class=\"ps34047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.84pt\">premier</span><span class=\"f charStyle-165dec60 ps6126\" style=\"width:200.47pt\"> rang. Les titres sont \u00e9galement conserv\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34048 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:178.16pt\">livres de banques d\u00e9positaires de premier rang.</span></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.3<span id=\"ia30d3bdc090c4200825d7118087beaa3\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Endettement financier net par devise</span></span></div><div class=\"ps33160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.24pt\">L\u2019endettement financier net par devise de remboursement est le suivant\u00a0:</span></div><div class=\"ps34055 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.07pt\"></span></span><span class=\"ps34049\">4\u00a0181<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.64pt\"></span></span><span class=\"ps34050\">4\u00a0104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.82pt\"></span></span><span class=\"ps30678\">98<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.2pt\"></span></span><span class=\"ps4024\">116<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Real br\u00e9silien<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.24pt\"></span></span><span class=\"ps1280\">(53)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.9pt\"></span></span><span class=\"ps25384\">(56)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Won sud-cor\u00e9en<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">(201)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.11pt\"></span></span><span class=\"ps34051\">(298)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Renminbi<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.95pt\"></span></span><span class=\"ps11807\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70pt\"></span></span><span class=\"ps34052\">(1)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.23pt\"></span></span><span class=\"ps28330\">(23)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(52)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.79pt\"></span></span><span class=\"ps34053\">4\u00a0022<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.28pt\"></span></span><span class=\"ps34054\">3\u00a0813<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:445.05pt\">Dans le tableau ci-dessus, l\u2019endettement financier net inclut la juste valeur des instruments d\u00e9riv\u00e9s (notamment les </span><span class=\"f charStyle-e8054d08 ps34056\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34057\" style=\"width:12.17pt\"> de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34059 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">couverture) rattach\u00e9s aux dettes financi\u00e8res. Cette juste valeur est pr\u00e9sent\u00e9e dans la devise fonctionnelle de l\u2019entit\u00e9 ayant</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps34060 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:100.23pt\">contract\u00e9 ces instruments.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-519": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.2<span id=\"ia52e872cfdc04902a3573b1f9ef33c03\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps15731\"><span style=\"display:inline-block;height:8.71pt;width:14.76pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Endettement financier brut<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:458.56pt\">L\u2019endettement financier brut comprend les dettes financi\u00e8res \u00e0 long terme, les financements court terme et les concours<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps27007\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:37.2pt\">bancaires.<span class=\"f ps53\"> </span></span></div><div class=\"ps33280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:210.75pt\">, l\u2019endettement financier brut du Groupe s\u2019analyse ainsi\u00a0:</span></div><div class=\"ps33318 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></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:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss2088\"><div><div class=\"ps10309 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps23143\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33283 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps9730\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33284 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-6bef0edd ps28704\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps23143\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33286 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps9730\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33287 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-ae6044e9 ps28704\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-0e45555a ps10\">Dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33289 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.24pt\"></span></span><span class=\"ps33288\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.18pt\"></span></span><span class=\"ps33290\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33292 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.84pt\"></span></span><span class=\"ps7728\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33294 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.37pt\"></span></span><span class=\"ps33293\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33295 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.81pt\"></span></span><span class=\"ps29923\">1\u00a0334<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33296 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.86pt\"></span></span><span class=\"ps27415\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33297 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.11pt\"></span></span><span class=\"ps28598\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33299 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.11pt\"></span></span><span class=\"ps28598\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33300 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33301 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.17pt\"></span></span><span class=\"ps32254\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33302 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.17pt\"></span></span><span class=\"ps32254\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33303 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.92pt\"></span></span><span class=\"ps28656\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33305 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.92pt\"></span></span><span class=\"ps28656\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33306 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:46.36pt\"></span></span><span class=\"ps20803\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33308 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.91pt\"></span></span><span class=\"ps33307\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33309 ss1551\"><div><div class=\"ps509 ss211\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.91pt\"></span></span><span class=\"ps33307\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10370 ss2019\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss762\"><span class=\"f charStyle-96b05324 ps10\">BRUT</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33310 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.87pt\"></span></span><span class=\"ps31030\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33312 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:36.27pt\"></span></span><span class=\"ps33311\">1\u00a0129<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33314 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.38pt\"></span></span><span class=\"ps33313\">6\u00a0561<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33315 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.01pt\"></span></span><span class=\"ps25830\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33316 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.41pt\"></span></span><span class=\"ps27346\">2\u00a0178<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33317 ss1797\"><div><div class=\"ps523 ss211\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.55pt\"></span></span><span class=\"ps13214\">7\u00a0037<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33319 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.2.1<span class=\"f ps53\"> </span><span id=\"i86ffe5caa45b4021a1dd0bd086de69d4\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps2082\"><span style=\"display:inline-block;height:8.22pt;width:10.28pt\"></span></span><span class=\"ps29285\">Dettes financi\u00e8res \u00e0 long terme</span></span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Ce poste inclut principalement les emprunts obligataires,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.9pt\">les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps33323\" style=\"width:204.09pt\">placements priv\u00e9s, les emprunts contract\u00e9s aupr\u00e8s de</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.88pt\">la\u00a0Banque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33325\" style=\"width:5.28pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps33326\" style=\"width:172.82pt\">europ\u00e9enne d'investissement, les dettes sur</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:88.43pt\">biens lou\u00e9s et les autres </span><span class=\"f charStyle-165dec60 ps33328\" style=\"width:38.96pt\">emprunts.</span><span class=\"f charStyle-165dec60 ps33329\" style=\"width:1.96pt\"> </span></div><div class=\"ps33331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les emprunts sont \u00e9valu\u00e9s au co\u00fbt amorti. Le montant</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.49pt\">des i</span><span class=\"f charStyle-c8069515 ps33332\" style=\"width:196.45pt\">nt\u00e9r\u00eats comptabilis\u00e9s en charges financi\u00e8res est</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:38.66pt\">d\u00e9termin\u00e9</span><span class=\"f charStyle-165dec60 ps5623\" style=\"width:179.29pt\"> par application du taux d\u2019int\u00e9r\u00eat effectif de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">l\u2019emprunt \u00e0 sa valeur comptable. La diff\u00e9rence entre la</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps8503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.91pt\">charge calcul\u00e9e \u00e0 </span><span class=\"f charStyle-9206869b ps33336\" style=\"width:143.06pt\">partir du taux d\u2019int\u00e9r\u00eat effectif et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps418\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:91.05pt\">coupon impacte la valeu</span><span class=\"f charStyle-165dec60 ps33337\" style=\"width:46.73pt\">r de la dette.</span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.97pt\">Lorsqu\u2019un emprunt \u00e0 taux fixe est d\u00e9sign\u00e9 en tant</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:42.77pt\">qu\u2019\u00e9l\u00e9ment</span><span class=\"f charStyle-165dec60 ps33339\" style=\"width:175.19pt\"> couvert dans une relation de couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.74pt\">juste valeur, sa v</span><span class=\"f charStyle-9206869b ps33340\" style=\"width:150.2pt\">aleur comptable est ajust\u00e9e \u00e0 chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:80.95pt\">cl\u00f4ture de la variation</span><span class=\"f charStyle-165dec60 ps4123\" style=\"width:136.97pt\"> de juste valeur imputable au risque</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps33341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.18pt\">couvert.</span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les dettes sur biens lou\u00e9s sont \u00e9valu\u00e9es conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:84.43pt\">au descriptif fourni en </span><span class=\"f charStyle-165dec60 ps33342\" style=\"width:30.54pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps11863\" style=\"width:61.31pt\">, pages 416 \u00e0 418</span><span class=\"f charStyle-165dec60 ps33343\" style=\"width:1.59pt\">.</span></div><div class=\"ps33345 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">D\u00e9tail des dettes financi\u00e8res \u00e0 long terme<span id=\"if985ee38285d4ba4afa0fa7c6b238748\"></span></span></div><div class=\"ps33386 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:90pt\"></td><td style=\"padding:0;width:12.75pt\"></td><td style=\"padding:0;width:26.25pt\"></td><td style=\"padding:0;width:189.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1931\"><div><div class=\"ps10243 ss1239\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td rowspan=\"8\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30270 ss2070\"><div><div class=\"ps30269 ss1\"><span class=\"f charStyle-ba63aec5 ps30268\">\u2610<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30271 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a ps33346\">68 %</span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33347 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunts obligataires</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.26pt\"></span></span><span class=\"ps33348\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.88pt\"></span></span><span class=\"ps33349\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32894 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-7fa471dd ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32895 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33350\"></span><span class=\"ps33350\">3 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33351 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Placements priv\u00e9s</span><span class=\"f charStyle-373e86b9 ps30620\"> Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31627 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.43pt\"></span></span><span class=\"ps33352\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31628 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.24pt\"></span></span><span class=\"ps33353\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33354 ss2074\"><div><div class=\"ps32893 ss1\"><span class=\"f charStyle-bdbfbd4c ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33356 ss272\"><div><div class=\"ps6851 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33355\"></span><span class=\"ps33355\">7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33357 ss2091\"><div><div class=\"ps746 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss1388\"><span class=\"f charStyle-044fe383 ps4503\">d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33359 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.09pt\"></span></span><span class=\"ps33358\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33361 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33362 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-cbb4a92e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33363 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33355\"></span><span class=\"ps33355\">7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33364 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33365 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33366 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.49pt\"></span></span><span class=\"ps28430\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33367 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-5d69291e ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33368 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10422\"></span><span class=\"ps10422\">12 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33369 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Dettes sur biens lou\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33370 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.05pt\"></span></span><span class=\"ps31756\">718<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33371 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.57pt\"></span></span><span class=\"ps27867\">626<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33372 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-8b704e13 ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33373 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10066\"></span><span class=\"ps10066\">1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33374 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Autres emprunts</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33376 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.03pt\"></span></span><span class=\"ps33375\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33378 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:18pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33379 ss2070\"><div><div class=\"ps32906 ss1\"><span class=\"f charStyle-ca45fd2d ps10\">g<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22587 ss250\"><div><div class=\"ps32891 ss198\"><span class=\"f charStyle-a696f64a\"><span class=\"ps13680\"></span><span class=\"ps13680\">2 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33380 ss2090\"><div><div class=\"ps32891 ss1388\"><span class=\"f charStyle-fa75d887 ps510\">\u2013<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps4503\">Int\u00e9r\u00eats courus non \u00e9chus</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10391 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.29pt\"></span></span><span class=\"ps33381\">121<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10392 ss2073\"><div><div class=\"ps32891 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.87pt\"></span></span><span class=\"ps20539\">107<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33382 ss1389\"><div><div class=\"ps746 ss1388\"><span class=\"f charStyle-ae6044e9 ps10\">DETTES FINANCI\u00c8RES \u00c0 LONG TERME<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.88pt\"></span></span><span class=\"ps33383\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33385 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.9pt\"></span></span><span class=\"ps10244\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9volution et caract\u00e9ristiques des emprunts \u00e0 long terme<span id=\"i5aa79b77d3d44a2cb5465da3f43f1a10\"></span></span></div><div class=\"ps33478 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:59.25pt\"></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:44.25pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:45.75pt\"></td></tr><tr style=\"height:30.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2092\"><div><div class=\"ps24204 ss424\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps12691 ss2027\"><div><div class=\"ps24203 ss622\"><span class=\"f charStyle-2d71864b ps33389\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss622\"><span class=\"f charStyle-2d71864b ps33390\">obligataires</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24117 ss2093\"><div><div class=\"ps24208 ss74\"><span class=\"f charStyle-b2b6bcc2 ps10521\">Placements </span></div><div class=\"ps24203 ss74\"><span class=\"f charStyle-b2b6bcc2 ps17732\">priv\u00e9s </span></div><div class=\"ps24204 ss74\"><span class=\"f charStyle-0d069f04 ps33391\">Schuldschein</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33392 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps3760\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps3402\">BEI</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33395 ss1638\"><div><div class=\"ps24208 ss634\"><span class=\"f charStyle-2d71864b ps3760\">Emprunts <span class=\"f ps53\"> </span></span></div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps33393\">bancaires </span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps33394\">bilat\u00e9raux</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss1638\"><div><div class=\"ps24203 ss634\"><span class=\"f charStyle-2d71864b ps33\">Dettes sur <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss634\"><span class=\"f charStyle-2d71864b ps16796\">biens lou\u00e9s</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3691 ss2094\"><div><div class=\"ps24203 ss387\"><span class=\"f charStyle-2d71864b ps33396\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss387\"><span class=\"f charStyle-2d71864b ps3533\">emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16341 ss2094\"><div><div class=\"ps24203 ss387\"><span class=\"f charStyle-2d71864b ps13692\">Int\u00e9r\u00eats <span class=\"f ps53\"> </span></span></div><div class=\"ps24204 ss387\"><span class=\"f charStyle-2d71864b ps16709\">courus</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33397 ss1638\"><div><div class=\"ps24204 ss634\"><span class=\"f charStyle-d606841d ps9439\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24136 ss2095\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-3f403986 ps10\">VALEUR COMPTABLE </span></div><div class=\"ps18922 ss424\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a01<span class=\"f ps53\"> </span></span><span class=\"f charStyle-f4bb8995 ps32081\"><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps32105\">\u00a0JANVIER </span><span class=\"f charStyle-3f403986 ps33353\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33399 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.72pt\"></span></span><span class=\"ps33398\">4\u00a0087<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33400 ss75\"><div><div class=\"ps523 ss74\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.83pt\"></span></span><span class=\"ps27460\">553<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33401 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.98pt\"></span></span><span class=\"ps30641\">540<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33403 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.72pt\"></span></span><span class=\"ps33402\">250<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33405 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.73pt\"></span></span><span class=\"ps33404\">626<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33406 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.66pt\"></span></span><span class=\"ps25192\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33408 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.51pt\"></span></span><span class=\"ps33407\">107<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33409 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10256 ss2045\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-044fe383 ps10\">Augmentations/</span></div><div class=\"ps748 ss424\"><span class=\"f charStyle-044fe383 ps10\">Souscriptions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33410 ss1343\"><div><div class=\"ps516 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.87pt\"></span></span><span class=\"ps29009\">1\u00a0135<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33411 ss85\"><div><div class=\"ps516 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33412 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33413 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.51pt\"></span></span><span class=\"ps1807\">155<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33414 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33416 ss653\"><div><div class=\"ps516 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.54pt\"></span></span><span class=\"ps33415\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33417 ss653\"><div><div class=\"ps516 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33419 ss1344\"><div><div class=\"ps516 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.9pt\"></span></span><span class=\"ps33418\">1\u00a0304<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss2047\"><div><div class=\"ps15656 ss424\"><span class=\"f charStyle-044fe383 ps10\">Nouveaux contrats/</span></div><div class=\"ps13845 ss424\"><span class=\"f charStyle-044fe383 ps10\">Renouvellements/</span></div><div class=\"ps15657 ss424\"><span class=\"f charStyle-044fe383 ps10\">Modifications</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33420 ss1592\"><div><div class=\"ps527 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33421 ss2096\"><div><div class=\"ps527 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33422 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33423 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33424 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.32pt\"></span></span><span class=\"ps26762\">266<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33425 ss395\"><div><div class=\"ps527 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31190 ss395\"><div><div class=\"ps527 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33426 ss1341\"><div><div class=\"ps527 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.32pt\"></span></span><span class=\"ps26762\">266<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Remboursements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33428 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.4pt\"></span></span><span class=\"ps33427\">(1\u00a0200)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33429 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.25pt\"></span></span><span class=\"ps31328\">(391)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33430 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.61pt\"></span></span><span class=\"ps10586\">(100)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33431 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33433 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.04pt\"></span></span><span class=\"ps33432\">(152)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3709 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.49pt\"></span></span><span class=\"ps33434\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33435 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33437 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.06pt\"></span></span><span class=\"ps33436\">(1\u00a0848)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22848 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Ajustements de valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33438 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.74pt\"></span></span><span class=\"ps31446\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33439 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33441 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.74pt\"></span></span><span class=\"ps33440\">4<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33442 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33443 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33444 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33445 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33446 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.91pt\"></span></span><span class=\"ps32813\">8<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26340 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33447 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33448 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33449 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33450 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33451 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.02pt\"></span></span><span class=\"ps16353\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33452 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33453 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33454 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.02pt\"></span></span><span class=\"ps16353\">(20)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26347 ss2097\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-a696f64a ps10\">Autres variations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33455 ss1336\"><div><div class=\"ps509 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.19pt\"></span></span><span class=\"ps25604\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33456 ss89\"><div><div class=\"ps509 ss74\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:45.69pt\"></span></span><span class=\"ps10351\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33457 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33458 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.19pt\"></span></span><span class=\"ps32143\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33460 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.98pt\"></span></span><span class=\"ps33459\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33462 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.49pt\"></span></span><span class=\"ps33461\">1<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33463 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.54pt\"></span></span><span class=\"ps33415\">14<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33465 ss1337\"><div><div class=\"ps509 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.77pt\"></span></span><span class=\"ps33464\">13<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8736 ss2095\"><div><div class=\"ps746 ss424\"><span class=\"f charStyle-3f403986 ps10\">VALEUR COMPTABLE </span></div><div class=\"ps18922 ss424\" style=\"font-size:12pt\"><span class=\"f charStyle-3f403986 ps10\">AU\u00a0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-3f403986 ps32193\">31\u00a0D\u00c9CEMBRE 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33467 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.13pt\"></span></span><span class=\"ps33466\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33468 ss75\"><div><div class=\"ps523 ss74\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.06pt\"></span></span><span class=\"ps28581\">162<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33469 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.21pt\"></span></span><span class=\"ps26166\">444<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33470 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.98pt\"></span></span><span class=\"ps30641\">405<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33472 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.15pt\"></span></span><span class=\"ps33471\">718<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33474 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.94pt\"></span></span><span class=\"ps33473\">40<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33475 ss402\"><div><div class=\"ps523 ss387\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.89pt\"></span></span><span class=\"ps18603\">121<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33477 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.63pt\"></span></span><span class=\"ps33476\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps31558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.3pt\">Le Groupe a r\u00e9alis\u00e9 plusieurs op\u00e9rations de financement au</span><span class=\"f charStyle-4afdd138 ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps31560 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:20.32pt\">cours</span><span class=\"f charStyle-165dec60 ps33479\" style=\"width:50.05pt\"> de l'exercice </span><span class=\"f charStyle-165dec60 ps33480\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps1937\" style=\"width:3.55pt\"> :<span class=\"f ps53\"> </span></span></div><div class=\"ps13993 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.17pt\">Le 22 janvier 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps13994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:153.74pt\">pour un montant de 100 millions d'euros.</span></div><div class=\"ps18293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">Le 10 f\u00e9vrier 2025, Valeo a proc\u00e9d\u00e9 au paiement d'une</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps18294 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">\u00e9ch\u00e9ance de 50 millions d'euros sur la deuxi\u00e8me tranche</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps33481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">de l'emprunt aupr\u00e8s de la Banque Europ\u00e9enne</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:65.25pt\">d'Investissement.</span></div><div class=\"ps18301 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">Le 9 avril 2025, Valeo a proc\u00e9d\u00e9 au remboursement des</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.21pt\">tranches 3 et 4 du Schuldschein (placement priv\u00e9 de droit</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps18303 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.2pt\">allemand) \u00e9mis en 2019, pour un montant nominal</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:213.2pt\">respectif de 90 millions d'euros et de 123 millions d'euros.</span></div><div class=\"ps17980 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">Le 20 mai 2025, le Groupe a \u00e9mis un emprunt obligataire</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17981 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">de 650 millions d'euros, \u00e0 \u00e9ch\u00e9ance mai 2031 et assorti d'un</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17982 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">coupon de 5,125%. Ces obligations vertes ont \u00e9t\u00e9 \u00e9mises</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17984 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.19pt\">dans le cadre du Green and Sustainability-Linked</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.14pt\">Financing\u00a0 Framework \u00e9tabli en juillet 2021 et mis \u00e0 jour en</span><span class=\"f charStyle-165dec60 ps4098\" style=\"width:1.96pt\"> </span></div><div class=\"ps17988 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.18pt\">septembre 2023, et serviront \u00e0 financer les projets et</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">investissements li\u00e9s au portefeuille de technologies qui</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.24pt\">contribuent \u00e0 la mobilit\u00e9 \u00e0 faible \u00e9mission de carbone, en</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps33484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:162.07pt\">particulier pour l'\u00e9lectrification du v\u00e9hicule.</span></div><div class=\"ps17992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps275\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">Le 18 juin 2025, Valeo a proc\u00e9d\u00e9 au remboursement de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">l'emprunt obligataire de 600 millions d'euros, qui avait \u00e9t\u00e9</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps18312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:222.22pt\">\u00e9mis en 2018 dans le cadre du programme de financement</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps31668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps626\" style=\"width:183.19pt\">\u00e0 moyen et long terme Euro Medium Term Note.</span></div><div class=\"ps31558 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">Le 18 juin 2025, Valeo a proc\u00e9d\u00e9 au paiement d'une</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps31560 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">\u00e9ch\u00e9ance de 50 millions d'euros sur la premi\u00e8re tranche de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33485 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.2pt\">l'emprunt aupr\u00e8s de la Banque Europ\u00e9enne</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps33486 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:65.25pt\">d'Investissement.</span></div><div class=\"ps13995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.23pt\">Le 22 ao\u00fbt 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps13996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:149.61pt\">pour un montant de 25 millions d'euros.</span></div><div class=\"ps33481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">Le 23 septembre 2025, le Groupe a \u00e9mis un emprunt</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps33482 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">obligataire de 500 millions d'euros, \u00e0 \u00e9ch\u00e9ance mars 2032</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps33487 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">et assorti d'un coupon de 4,625%. Ces obligations vertes</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">ont \u00e9t\u00e9 \u00e9mises dans le cadre du Green and Sustainability-</span></div><div class=\"ps33489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">Linked Financing Framework \u00e9tabli en juillet 2021 et mis \u00e0</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps33490 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">jour en septembre 2023, et serviront \u00e0 financer les projets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps33491 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">et investissements li\u00e9s au portefeuille de technologies qui</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps9009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">contribuent \u00e0 la mobilit\u00e9 \u00e0 faible \u00e9mission de carbone, en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9010 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:162.07pt\">particulier pour l'\u00e9lectrification du v\u00e9hicule.</span></div><div class=\"ps33492 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.17pt\">Le 31 octobre 2025, Valeo a proc\u00e9d\u00e9 au remboursement</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps33493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.18pt\">des tranches 1 et 2 du Schuldschein (placement priv\u00e9 de</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps33494 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">droit allemand) \u00e9mis en 2022, pour un montant nominal</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps9014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:213.9pt\">respectif de 30 millions d'euros et de 149 millions d'euros.</span></div><div class=\"ps18308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.22pt\">Le 31 octobre 2025, Valeo a souscrit \u00e0 un emprunt bilat\u00e9ral</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps33484 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:150.3pt\">pour un montant de 30 millions d'euros.</span></div><div class=\"ps17992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.16pt\">Le 18 d\u00e9cembre 2025, Valeo a exerc\u00e9 son option de</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps18311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.24pt\">remboursement anticip\u00e9 de l\u2019emprunt obligataire de 600</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps18312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">millions d\u2019euros \u00e9mis en 2016, dont l\u2019\u00e9ch\u00e9ance \u00e9tait fix\u00e9e \u00e0</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps31668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:40.6pt\">mars 2026.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au </span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:295.05pt\">, les principales caract\u00e9ristiques des emprunts \u00e0 long terme sont les suivantes\u00a0:</span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:158.25pt\"></td><td style=\"padding:0;width:53.25pt\"></td><td style=\"padding:0;width:68.25pt\"></td><td style=\"padding:0;width:59.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:36.75pt\"></td><td style=\"padding:0;width:62.25pt\"></td></tr><tr style=\"height:50.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2098\"><div><div class=\"ps33495 ss788\"><span class=\"f charStyle-ae6044e9 ps10\">Type<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11015 ss2099\"><div><div class=\"ps33496 ss382\"><span class=\"f charStyle-a8b3a41c ps29045\">Encours au </span></div><div class=\"ps33498 ss382\" style=\"font-size:12pt\"><span class=\"f charStyle-a8b3a41c ps33497\">31\u00a0d\u00e9cembre </span></div><div class=\"ps33500 ss382\" style=\"font-size:12pt\"><span class=\"f charStyle-a8b3a41c ps33499\">2025</span><span class=\"f charStyle-a8b3a41c ps32685\"> </span></div><div class=\"ps33501 ss382\"><span class=\"f charStyle-d3269767 ps28775\">(en millions <span class=\"f ps53\"> </span></span></div><div class=\"ps33502 ss382\"><span class=\"f charStyle-d3269767 ps26445\">d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps3739 ss2100\"><div><div class=\"ps33495 ss723\"><span class=\"f charStyle-5ffca5e0 ps25727\">\u00c9mission<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps30897 ss2101\"><div><div class=\"ps33495 ss74\"><span class=\"f charStyle-5ffca5e0 ps33503\">\u00c9ch\u00e9ance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33505 ss2102\"><div><div class=\"ps33496 ss48\"><span class=\"f charStyle-a8b3a41c ps29072\">Nominal </span></div><div class=\"ps33498 ss48\"><span class=\"f charStyle-a8b3a41c ps14407\">restant </span></div><div class=\"ps33500 ss48\"><span class=\"f charStyle-a8b3a41c ps22806\">d\u00fb\u00a0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-d3269767 ps28860\">(en <span class=\"f ps53\"> </span></span></div><div class=\"ps33501 ss48\"><span class=\"f charStyle-d3269767 ps33504\">millions <span class=\"f ps53\"> </span></span></div><div class=\"ps33502 ss48\"><span class=\"f charStyle-d3269767 ps13727\">d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24069 ss1364\"><div><div class=\"ps33495 ss1016\"><span class=\"f charStyle-5ffca5e0 ps3092\">Devise<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11509 ss2103\"><div><div class=\"ps9400 ss331\"><span class=\"f charStyle-5ffca5e0 ps24272\">Taux d'int\u00e9r\u00eat <span class=\"f ps53\"> </span></span></div><div class=\"ps33495 ss331\"><span class=\"f charStyle-5ffca5e0 ps8187\">nominal<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11511 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNTS OBLIGATAIRES<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4545 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33508 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.21pt\"></span></span><span class=\"ps33507\">698<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33509 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32246\">Juillet 2021<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33510 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps16669\">Ao\u00fbt 2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33512 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.58pt\"></span></span><span class=\"ps33511\">700<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33514 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11518 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps10474\">1,00 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8277 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><span class=\"f ps53\"> </span><sup>(1) (3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33516 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.76pt\"></span></span><span class=\"ps33515\">751<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33517 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-044fe383 ps10164\">Novembre 2022</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33519 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-044fe383 ps33518\">Mai 2027</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33520 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.3pt\"></span></span><span class=\"ps27221\">750<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33521 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11520 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps351\">5,375 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN</span><span class=\"f charStyle-4da12822 ps33522\"><span class=\"f ps53\"> </span><sup> (2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33524 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.9pt\"></span></span><span class=\"ps33523\">597<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33525 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps16735\">Octobre 2023<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33527 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33526\">Avril 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33529 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.43pt\"></span></span><span class=\"ps33528\">600<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33530 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11523 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps16876\">5,875 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN</span><span class=\"f charStyle-4da12822 ps33522\"><span class=\"f ps53\"> </span><sup> (2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33531 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.16pt\"></span></span><span class=\"ps4267\">843<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33532 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps25294\">Avril 2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33534 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33533\">Avril 2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33536 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.93pt\"></span></span><span class=\"ps33535\">850<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33537 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-044fe383 ps33513\">EUR</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11525 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps31230\">4,50 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps22848 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33539 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.38pt\"></span></span><span class=\"ps33538\">643<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33540 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps4237\">Mai 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33542 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33541\">Mai 2031<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33544 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.15pt\"></span></span><span class=\"ps33543\">650<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33545 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #c6c6c6;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33547 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33546\">5,125 %<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26340 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Programme EMTN </span><span class=\"f charStyle-4da12822 ps33506\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33548 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">494<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33550 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33549\">Septembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33552 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33551\">Mars 2032<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33554 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.75pt\"></span></span><span class=\"ps33553\">500<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33555 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #c6c6c6;padding:0\"><div class=\"ps33556 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a\"><span class=\"ps1050\"></span><span class=\"ps1050\">4,625 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26347 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENT PRIV\u00c9 SCHULDSCHEIN \u00c9MIS EN 2022<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps8736 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 3 </span><span class=\"f charStyle-4da12822 ps33557\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33559 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.93pt\"></span></span><span class=\"ps33558\">30<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33560 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33561 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33563 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.73pt\"></span></span><span class=\"ps33562\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33564 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33565 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33546\">5,251 %</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3714 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 4 </span><span class=\"f charStyle-4da12822 ps33566\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33567 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.62pt\"></span></span><span class=\"ps16863\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33568 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33569 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33570 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.42pt\"></span></span><span class=\"ps32346\">52<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33571 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33573 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33572\">Euribor 6 mois </span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-044fe383 ps357\">+\u00a02,10\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23044 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 5 </span><span class=\"f charStyle-4da12822 ps33574\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33575 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.93pt\"></span></span><span class=\"ps33558\">30<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33576 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps26368\">D\u00e9cembre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33577 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps116\">Octobre 2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33578 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.73pt\"></span></span><span class=\"ps33562\">30<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33579 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33580 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33572\">Euribor 6 mois <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-a696f64a ps357\">+\u00a02,10\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22995 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 6 </span><span class=\"f charStyle-4da12822 ps33581\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33583 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:42.87pt\"></span></span><span class=\"ps33582\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33584 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps32125\">Octobre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33586 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps33585\">Octobre 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33587 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.67pt\"></span></span><span class=\"ps32152\">5<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33588 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33589 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps20813\">5,503 %</span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4629 ss2105\"><div><div class=\"ps6851 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 7 </span><span class=\"f charStyle-4da12822 ps33590\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33592 ss705\"><div><div class=\"ps6851 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.92pt\"></span></span><span class=\"ps33591\">45<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33593 ss724\"><div><div class=\"ps6851 ss723\"><span class=\"f charStyle-a696f64a ps26368\">D\u00e9cembre 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33594 ss85\"><div><div class=\"ps6851 ss74\"><span class=\"f charStyle-a696f64a ps33585\">Octobre 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33596 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.72pt\"></span></span><span class=\"ps33595\">45<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33597 ss1023\"><div><div class=\"ps6851 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33598 ss355\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33572\">Euribor 6 mois <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss331\"><span class=\"f charStyle-a696f64a ps11382\">+\u00a02,30\u00a0%<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17870 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">EMPRUNT BEI (BANQUE EUROP\u00c9ENNE D\u2019INVESTISSEMENT)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33600 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 1 </span><span class=\"f charStyle-4da12822 ps33599\"><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33601 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.07pt\"></span></span><span class=\"ps28704\">198<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33602 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps3730\">Juin 2021<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33603 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32097\">Juin 2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33604 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.74pt\"></span></span><span class=\"ps31151\">200<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33605 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33607 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps33606\">1,265 %</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33609 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Tranche 2 </span><span class=\"f charStyle-4da12822 ps33608\"><sup>(5)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33611 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.35pt\"></span></span><span class=\"ps33610\">246<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33613 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33612\">F\u00e9vrier 2022<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33614 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps3765\">F\u00e9vrier 2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33616 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.46pt\"></span></span><span class=\"ps33615\">250<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33617 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps33513\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33618 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-044fe383 ps9860\">1,463 %</span></div></div></div></td></tr><tr style=\"height:15pt\"><td colspan=\"7\" style=\"border-bottom:0.3pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33619 ss521\"><div><div class=\"ps746 ss93\"><span class=\"f charStyle-3f403986 ps10\">AUTRES<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps23592 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Dettes sur biens lou\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33620 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.22pt\"></span></span><span class=\"ps28744\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33622 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33623 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33624 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.02pt\"></span></span><span class=\"ps9416\">718<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33625 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #2c567a;padding:0\"><div class=\"ps33627 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps12974 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33628 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.96pt\"></span></span><span class=\"ps1346\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33629 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33630 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33632 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.76pt\"></span></span><span class=\"ps33631\">405<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33633 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33634 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25972 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-044fe383 ps10\">Autres dettes financi\u00e8res \u00e0\u00a0long\u00a0terme\u00a0</span><span class=\"f charStyle-4da12822 ps33635\"><span class=\"f ps53\"> </span><sup>(6)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33636 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.15pt\"></span></span><span class=\"ps26339\">161<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33637 ss726\"><div><div class=\"ps746 ss723\"><span class=\"f charStyle-a696f64a ps33621\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33638 ss89\"><div><div class=\"ps746 ss74\"><span class=\"f charStyle-a696f64a ps32568\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33639 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.95pt\"></span></span><span class=\"ps17287\">161<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33640 ss1017\"><div><div class=\"ps746 ss1016\"><span class=\"f charStyle-a696f64a ps17190\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33641 ss2003\"><div><div class=\"ps746 ss331\"><span class=\"f charStyle-a696f64a ps33626\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11241 ss2104\"><div><div class=\"ps746 ss788\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES \u00c0 LONG TERME<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33643 ss406\"><div><div class=\"ps746 ss382\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.63pt\"></span></span><span class=\"ps33642\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td></tr></tbody></table></div></div></div><div class=\"ps33644 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:218.69pt\">Clause d'indexation sur un objectif d'empreinte carbone \u00e0 fin 2025.</span></div><div class=\"ps33645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.71pt\">\u00c9missions r\u00e9alis\u00e9es dans le Cadre de financements verts et durables de Valeo.</span></div><div class=\"ps33646 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:467.15pt\">Coupons \u00e0 taux fixes partiellement \u00e9chang\u00e9s contre des coupons \u00e0 taux variables index\u00e9s sur le taux Euribor 6 mois via des swaps de taux</span><span class=\"f charStyle-b70a9be1 ps460\" style=\"width:1.67pt\"> </span></div><div class=\"ps33648 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:30.41pt\">d'int\u00e9r\u00eats</span><span class=\"f charStyle-776a1ec6 ps33647\" style=\"width:127.55pt\"> d'un notionnel de 600 millions d'euros.</span></div><div class=\"ps33649 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:309.22pt\">Emprunt \u00e0 taux bonifi\u00e9 amortissable en 6 annuit\u00e9s de 50 millions d'euros \u00e0 partir de juin 2024.</span></div><div class=\"ps33650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.93pt\">(5)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:316.83pt\">Emprunt \u00e0 taux bonifi\u00e9 amortissable en 6 annuit\u00e9s de 50 millions d'euros \u00e0 partir de f\u00e9vrier 2025.</span></div><div class=\"ps33653 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.21pt\">(6)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:334.73pt\">Les autres dettes financi\u00e8res \u00e0 long terme incluent principalement les int\u00e9r\u00eats courus non \u00e9chus pour </span><span class=\"f charStyle-776a1ec6 ps33651\" style=\"width:8.37pt\">121</span><span class=\"f charStyle-776a1ec6 ps33652\" style=\"width:54.08pt\"> millions d'euros.</span></div></div><div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3ecc6c69 ps275\" style=\"width:129.28pt\"><span style=\"background-color:inherit\">Le programme de financement </span></span><span class=\"f charStyle-8792821d ps33654\" style=\"width:100.05pt\"><span style=\"background-color:inherit\">Euro Medium Term Note</span></span><span class=\"f charStyle-3ecc6c69 ps412\" style=\"width:1.86pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-3ecc6c69 ps275\" style=\"width:36.7pt\"><span style=\"background-color:inherit\">(EMTN) \u00e0 </span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-ba33fa8f ps33655\" style=\"width:192.58pt\"><span style=\"background-color:inherit\">moyen et \u00e0 long terme d\u2019un montant maximum de 5</span></span><span class=\"f charStyle-ba33fa8f ps610\" style=\"width:1.65pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ba33fa8f ps275\" style=\"width:56.91pt\"><span style=\"background-color:inherit\">milliards d\u2019euros</span></span><span class=\"f charStyle-3ecc6c69 ps9549\" style=\"width:7.31pt\"><span style=\"background-color:inherit\"> d</span></span><span class=\"f charStyle-7b89e0e3 ps33656\" style=\"width:165.07pt\"><span style=\"background-color:inherit\">ont dispose le Groupe est utilis\u00e9 \u00e0 hauteur de</span></span><span class=\"f charStyle-7b89e0e3 ps425\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps275\" style=\"width:73.73pt\"><span style=\"background-color:inherit\">4,1\u00a0milliards d\u2019euros </span></span><span class=\"f charStyle-68ecf294 ps33657\" style=\"width:12.36pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-165dec60 ps33658\" style=\"width:69.34pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps33659\" style=\"width:73.85pt\"><span style=\"background-color:inherit\">, stable par rapport</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:11.42pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-165dec60 ps28395\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps30960\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:87.39pt\"><span style=\"background-color:inherit\">Par ailleurs, le Groupe </span></span><span class=\"f charStyle-7b89e0e3 ps33660\" style=\"width:141.93pt\"><span style=\"background-color:inherit\">dispose de lignes de cr\u00e9dit bancaires</span></span><span class=\"f charStyle-7b89e0e3 ps639\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:229.26pt\"><span style=\"background-color:inherit\">confirm\u00e9es \u00e0 \u00e9ch\u00e9ance moyenne de 2,6 ans pour un montant</span></span><span class=\"f charStyle-7b89e0e3 ps471\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:30.36pt\"><span style=\"background-color:inherit\">total de </span></span><span class=\"f charStyle-7b89e0e3 ps33661\" style=\"width:8.31pt\"><span style=\"background-color:inherit\">1,6</span></span><span class=\"f charStyle-7b89e0e3 ps33662\" style=\"width:2.4pt\"><span style=\"background-color:inherit\">\u00a0</span></span><span class=\"f charStyle-7b89e0e3 ps33663\" style=\"width:188.23pt\"><span style=\"background-color:inherit\">milliard d\u2019euros, au titre desquelles aucun tirage n\u2019a</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps449\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:67.62pt\"><span style=\"background-color:inherit\">\u00e9t\u00e9 effectu\u00e9 au </span></span><span class=\"f charStyle-7b89e0e3 ps14766\" style=\"width:72.64pt\"><span style=\"background-color:inherit\">31\u00a0d\u00e9cembre 2025</span></span><span class=\"f charStyle-7b89e0e3 ps33664\" style=\"width:89.07pt\"><span style=\"background-color:inherit\">. Ces lignes de cr\u00e9dit</span></span><span class=\"f charStyle-7b89e0e3 ps450\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">bilat\u00e9rales ont \u00e9t\u00e9 n\u00e9goci\u00e9es aupr\u00e8s de neuf banques (notation</span></span><span class=\"f charStyle-7b89e0e3 ps460\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps448\" style=\"width:152.11pt\"><span style=\"background-color:inherit\">moyenne\u00a0: A chez S&amp;P et A1 chez Moody\u2019s).</span></span></div><div class=\"ps26573 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ancier des dettes financi\u00e8res \u00e0 long terme<span id=\"i13b91da695294249b070bd676f0069e7\"></span></span></div><div class=\"ps33758 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss2114 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:50.25pt\"></td><td style=\"padding:0;width:48pt\"></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:47.25pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2106\"><div><div class=\"ps33666 ss491\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"7\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33668 ss2107\"><div><div class=\"ps509 ss52\"><span class=\"f charStyle-6bef0edd ps33667\">\u00c9ch\u00e9ances des valeurs au bilan<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33670 ss411\"><div><div class=\"ps9323 ss379\"><span class=\"f charStyle-6bef0edd ps33669\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps9325 ss379\"><span class=\"f charStyle-6bef0edd ps14624\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps27531 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps33671\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33673 ss2110\"><div><div class=\"ps509 ss2109\"><span class=\"f charStyle-ae6044e9 ps33672\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33674 ss859\"><div><div class=\"ps509 ss319\"><span class=\"f charStyle-ae6044e9 ps31015\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33676 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps33675\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33677 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps10586\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13683 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps26392\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33679 ss623\"><div><div class=\"ps523 ss622\"><span class=\"f charStyle-ae6044e9 ps33678\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33682 ss624\"><div><div class=\"ps509 ss319\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps10452\">2031</span><span class=\"f charStyle-98f46611 ps33680\"> et </span></div><div class=\"ps523 ss319\"><span class=\"f charStyle-98f46611 ps33681\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33683 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.43pt\"></span></span><span class=\"ps29927\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33685 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33686 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.26pt\"></span></span><span class=\"ps3427\">751<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33687 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.71pt\"></span></span><span class=\"ps1005\">698<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33688 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.71pt\"></span></span><span class=\"ps25437\">572<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33690 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.49pt\"></span></span><span class=\"ps33689\">868<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33691 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.12pt\"></span></span><span class=\"ps9966\">1\u00a0137<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33693 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.6pt\"></span></span><span class=\"ps33692\">162<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33694 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.36pt\"></span></span><span class=\"ps33684\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33695 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.96pt\"></span></span><span class=\"ps1346\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33696 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33698 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.41pt\"></span></span><span class=\"ps33697\">50<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33699 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33700 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunt BEI (Banque europ\u00e9enne <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-a696f64a ps10\">d'investissement)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33701 ss1602\"><div><div class=\"ps6851 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.26pt\"></span></span><span class=\"ps30997\">444<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33703 ss1270\"><div><div class=\"ps6851 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.52pt\"></span></span><span class=\"ps33702\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33705 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33706 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33707 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.27pt\"></span></span><span class=\"ps33704\">98<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33708 ss1343\"><div><div class=\"ps6851 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.12pt\"></span></span><span class=\"ps28199\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33709 ss353\"><div><div class=\"ps6851 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Dettes sur biens lou\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33710 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.22pt\"></span></span><span class=\"ps25814\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33711 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.69pt\"></span></span><span class=\"ps5959\">132<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33712 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.65pt\"></span></span><span class=\"ps26080\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33714 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.17pt\"></span></span><span class=\"ps33713\">108<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33715 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.71pt\"></span></span><span class=\"ps25700\">105<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33717 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.81pt\"></span></span><span class=\"ps33716\">59<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33718 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.61pt\"></span></span><span class=\"ps31283\">195<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts bancaires bilat\u00e9raux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33719 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.96pt\"></span></span><span class=\"ps3784\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33720 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.5pt\"></span></span><span class=\"ps29973\">110<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33721 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.09pt\"></span></span><span class=\"ps28640\">60<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33722 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.25pt\"></span></span><span class=\"ps26061\">110<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33724 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.42pt\"></span></span><span class=\"ps33723\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33725 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33726 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Autres emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33728 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.2pt\"></span></span><span class=\"ps33727\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33730 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.39pt\"></span></span><span class=\"ps33729\">23<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33731 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.39pt\"></span></span><span class=\"ps10898\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33732 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.36pt\"></span></span><span class=\"ps28952\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33733 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.91pt\"></span></span><span class=\"ps9373\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33734 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:39.91pt\"></span></span><span class=\"ps9373\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33736 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.45pt\"></span></span><span class=\"ps33735\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps575 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus non \u00e9chus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33738 ss404\"><div><div class=\"ps746 ss379\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.46pt\"></span></span><span class=\"ps33737\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33740 ss1338\"><div><div class=\"ps746 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.21pt\"></span></span><span class=\"ps33739\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33741 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33742 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33743 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33744 ss1336\"><div><div class=\"ps746 ss622\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.11pt\"></span></span><span class=\"ps25996\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33745 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.61pt\"></span></span><span class=\"ps16847\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3833 ss2113\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss491\"><span class=\"f charStyle-96b05324 ps10\">\u00c0\u00a0LONG\u00a0TERME</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33747 ss397\"><div><div class=\"ps23602 ss379\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.63pt\"></span></span><span class=\"ps33746\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33749 ss1291\"><div><div class=\"ps23602 ss1241\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.35pt\"></span></span><span class=\"ps33748\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33751 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.6pt\"></span></span><span class=\"ps33750\">1\u00a0143<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33753 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.38pt\"></span></span><span class=\"ps33752\">1\u00a0016<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33754 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.17pt\"></span></span><span class=\"ps33713\">951<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33755 ss623\"><div><div class=\"ps23602 ss622\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.61pt\"></span></span><span class=\"ps4188\">980<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33757 ss624\"><div><div class=\"ps23602 ss319\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.64pt\"></span></span><span class=\"ps33756\">1\u00a0342<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33759 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-435f58e9 ps275\"><span style=\"background-color:inherit\">\u00c9ch\u00e9ancier contractuel des dettes financi\u00e8res \u00e0 long terme</span><span id=\"ib0fb3e313da449ab9ccd4d3bbe9acf0e\"></span></span></div><div class=\"ps21910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.12pt\"><span style=\"background-color:inherit\">Dans sa gestion du risque de liquidit\u00e9, le Groupe veille \u00e0 r\u00e9partir les \u00e9ch\u00e9ances de remboursement de sa dette \u00e0 long terme\u00a0: au</span></span><span class=\"f charStyle-68ecf294 ps1717\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps21911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps9314\" style=\"width:239.26pt\"><span style=\"background-color:inherit\">, la maturit\u00e9 moyenne de la dette Valeo (soci\u00e9t\u00e9 m\u00e8re) ressort \u00e0 </span></span><span class=\"f charStyle-68ecf294 ps33760\" style=\"width:10.76pt\"><span style=\"background-color:inherit\">3,4</span><span id=\"i75d2ecb028f54648b25eb91ce843565a_9795\"></span></span><span class=\"f charStyle-68ecf294 ps33761\" style=\"width:82.7pt\"><span style=\"background-color:inherit\"> ans contre 2,8 ans au </span></span><span class=\"f charStyle-165dec60 ps33762\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps33763\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps8394 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">Les flux futurs pr\u00e9sent\u00e9s ci-dessous, \u00e0 la fois les coupons et les remboursements du principal, ne sont pas actualis\u00e9s. Pour les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps21913 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:134.53pt\">int\u00e9r\u00eats variables, la courbe de taux </span><span class=\"f charStyle-e8054d08 ps15763\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps33764\" style=\"width:13.38pt\"> au </span><span class=\"f charStyle-165dec60 ps29850\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps33765\" style=\"width:50.82pt\"> a \u00e9t\u00e9 utilis\u00e9e.</span></div><div class=\"ps33864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:47.25pt\"></td><td style=\"padding:0;width:41.25pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:42.75pt\"></td><td style=\"padding:0;width:44.25pt\"></td><td style=\"padding:0;width:39pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2106\"><div><div class=\"ps33666 ss491\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"8\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33668 ss2116\"><div><div class=\"ps509 ss2115\"><span class=\"f charStyle-6bef0edd ps4036\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33670 ss2117\"><div><div class=\"ps9323 ss319\"><span class=\"f charStyle-a8b3a41c ps22664\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps9325 ss319\"><span class=\"f charStyle-a8b3a41c ps33766\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33768 ss414\"><div><div class=\"ps9325 ss200\"><span class=\"f charStyle-5ffca5e0 ps33767\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33769 ss1769\"><div><div class=\"ps509 ss1768\"><span class=\"f charStyle-5ffca5e0 ps275\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps30275 ss409\"><div><div class=\"ps509 ss387\"><span class=\"f charStyle-5ffca5e0 ps3875\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33771 ss2118\"><div><div class=\"ps9325 ss204\"><span class=\"f charStyle-a8b3a41c ps33770\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33772 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps15639\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33773 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps15649\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33774 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps23465\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33775 ss636\"><div><div class=\"ps523 ss48\"><span class=\"f charStyle-5ffca5e0 ps23605\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33778 ss402\"><div><div class=\"ps509 ss387\" style=\"font-size:12pt\"><span class=\"f charStyle-f660c20c ps33776\">2031</span><span class=\"f charStyle-f660c20c ps33777\"> et </span></div><div class=\"ps523 ss387\"><span class=\"f charStyle-f660c20c ps16452\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Emprunts obligataires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33683 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.43pt\"></span></span><span class=\"ps33779\">4\u00a0026<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33781 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.29pt\"></span></span><span class=\"ps33780\">166<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33782 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.39pt\"></span></span><span class=\"ps31014\">927<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33784 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.2pt\"></span></span><span class=\"ps33783\">837<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33786 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.02pt\"></span></span><span class=\"ps33785\">730<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33787 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.86pt\"></span></span><span class=\"ps28786\">945<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33789 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.02pt\"></span></span><span class=\"ps33788\">1\u00a0230<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33790 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.71pt\"></span></span><span class=\"ps32075\">4\u00a0835<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33693 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.6pt\"></span></span><span class=\"ps33791\">162<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33792 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.7pt\"></span></span><span class=\"ps27342\">7<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33794 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.65pt\"></span></span><span class=\"ps33793\">119<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33795 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.36pt\"></span></span><span class=\"ps9394\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33797 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.12pt\"></span></span><span class=\"ps33796\">52<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33799 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33800 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33802 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.42pt\"></span></span><span class=\"ps33801\">180<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-044fe383 ps10\">d'investissement)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33701 ss353\"><div><div class=\"ps6851 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.26pt\"></span></span><span class=\"ps17303\">444<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33804 ss273\"><div><div class=\"ps6851 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.89pt\"></span></span><span class=\"ps33803\">106<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33805 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.71pt\"></span></span><span class=\"ps18620\">105<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33807 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.73pt\"></span></span><span class=\"ps33806\">103<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33809 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.7pt\"></span></span><span class=\"ps33808\">102<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33811 ss274\"><div><div class=\"ps6851 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.67pt\"></span></span><span class=\"ps33810\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33812 ss653\"><div><div class=\"ps6851 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33813 ss276\"><div><div class=\"ps6851 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.94pt\"></span></span><span class=\"ps31034\">467<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16625 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Dettes sur biens lou\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33710 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">718<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33815 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.61pt\"></span></span><span class=\"ps18585\">159<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33817 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.74pt\"></span></span><span class=\"ps33816\">134<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33818 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.42pt\"></span></span><span class=\"ps27337\">125<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33820 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.8pt\"></span></span><span class=\"ps33819\">117<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33821 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.27pt\"></span></span><span class=\"ps33081\">68<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33822 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.92pt\"></span></span><span class=\"ps33181\">215<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33823 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.6pt\"></span></span><span class=\"ps23301\">818<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3458 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33719 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.96pt\"></span></span><span class=\"ps9790\">405<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33825 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.21pt\"></span></span><span class=\"ps33824\">124<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33826 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.5pt\"></span></span><span class=\"ps10740\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33827 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.7pt\"></span></span><span class=\"ps33808\">120<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33828 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.1pt\"></span></span><span class=\"ps9732\">126<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33829 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33830 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33831 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.26pt\"></span></span><span class=\"ps23666\">441<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17737 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-a696f64a ps10\">Autres emprunts<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33728 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.2pt\"></span></span><span class=\"ps16827\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33832 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.64pt\"></span></span><span class=\"ps26764\">23<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33833 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.39pt\"></span></span><span class=\"ps32263\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33834 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.36pt\"></span></span><span class=\"ps9394\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33836 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.91pt\"></span></span><span class=\"ps33835\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33837 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.91pt\"></span></span><span class=\"ps33835\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33838 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.45pt\"></span></span><span class=\"ps4352\">10<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33839 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.95pt\"></span></span><span class=\"ps731\">40<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps575 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Int\u00e9r\u00eats courus non \u00e9chus</span><span class=\"f charStyle-4da12822 ps33840\"><span class=\"f ps53\"> </span><sup> (1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33738 ss859\"><div><div class=\"ps746 ss319\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.46pt\"></span></span><span class=\"ps33841\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33843 ss407\"><div><div class=\"ps746 ss200\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.46pt\"></span></span><span class=\"ps33842\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33844 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33845 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33846 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33847 ss1325\"><div><div class=\"ps746 ss48\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.11pt\"></span></span><span class=\"ps33798\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33848 ss409\"><div><div class=\"ps746 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33849 ss1517\"><div><div class=\"ps746 ss204\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.21pt\"></span></span><span class=\"ps33824\">121<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3833 ss2113\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-96b05324 ps10\">DETTES FINANCI\u00c8RES <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss491\"><span class=\"f charStyle-96b05324 ps10\">\u00c0\u00a0LONG\u00a0TERME</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33747 ss624\"><div><div class=\"ps23602 ss319\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.63pt\"></span></span><span class=\"ps33850\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33852 ss400\"><div><div class=\"ps23602 ss200\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.38pt\"></span></span><span class=\"ps33851\">706<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33854 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.47pt\"></span></span><span class=\"ps33853\">1\u00a0359<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33856 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">1\u00a0189<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33858 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.87pt\"></span></span><span class=\"ps33857\">1\u00a0128<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33860 ss636\"><div><div class=\"ps23602 ss48\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.86pt\"></span></span><span class=\"ps33859\">1\u00a0065<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33862 ss402\"><div><div class=\"ps23602 ss387\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.55pt\"></span></span><span class=\"ps33861\">1\u00a0455<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33863 ss2119\"><div><div class=\"ps23602 ss204\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.34pt\"></span></span><span class=\"ps33051\">6\u00a0902<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4fadb3f4 ps269\" style=\"width:467.11pt\">Les flux de tr\u00e9sorerie relatifs aux Int\u00e9r\u00eats courus non \u00e9chus sont inclus dans les flux de tr\u00e9sorerie contractuels \u00e0 moins d'un an des dettes</span><span class=\"f charStyle-4fadb3f4 ps455\" style=\"width:1.6pt\"> </span></div><div class=\"ps33867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4fadb3f4 ps269\" style=\"width:35.02pt\">financi\u00e8res</span><span class=\"f charStyle-776a1ec6 ps33866\" style=\"width:93.03pt\"> auxquelles ils se rattachent.</span></div><div class=\"ps33868 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Engagements hors bilan li\u00e9s au financement du Groupe<span id=\"i1610200db2f44ff5a6d044ae418a2bb9\"></span></span></div><div class=\"ps33869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.2pt\">Certains contrats de financement comportent des clauses de remboursement anticip\u00e9 en cas de non-respect de ratios</span><span class=\"f charStyle-165dec60 ps1231\" style=\"width:1.96pt\"> </span></div><div class=\"ps33870 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:232.04pt\">financiers. Le\u00a0principal ratio est d\u00e9crit dans le tableau suivant\u00a0:</span></div><div class=\"ps33879 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:138pt\"></td><td style=\"padding:0;width:150pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:127.5pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-right:1pt solid #ffffff;padding:0\"><div class=\"ps1 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-ae6044e9 ps10\">Contrats de financement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:1pt solid #ffffff;padding:0\"><div class=\"ps33668 ss1605\"><div><div class=\"ps746 ss1604\"><span class=\"f charStyle-ae6044e9 ps10\">Ratio<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33871 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-ae6044e9 ps10\">Seuils<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps33874 ss2121\"><div><div class=\"ps746 ss2120\" style=\"font-size:12pt\"><span class=\"f charStyle-6bef0edd ps16723\">Ratio au </span><span class=\"f charStyle-6bef0edd ps28653\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-6bef0edd ps33872\"> </span><span class=\"f charStyle-873f2209 ps33873\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-right:1pt solid #ffffff;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Lignes de cr\u00e9dit </span></div></div></div></td><td rowspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:1pt solid #ffffff;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33670 ss2122\"><div><div class=\"ps14824 ss1604\"><span class=\"f charStyle-044fe383 ps10\">Endettement financier net consolid\u00e9 / </span></div><div class=\"ps33875 ss1604\"><span class=\"f charStyle-044fe383 ps10\">EBITDA ajust\u00e9 consolid\u00e9</span></div></div></div></td><td rowspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33876 ss2123\"><div><div class=\"ps13688 ss696\"><span class=\"f charStyle-a696f64a ps10\">&lt; 3,5<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"4\" style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33878 ss2124\"><div><div class=\"ps13688 ss2120\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:113.15pt\"></span></span><span class=\"ps33877\">1,3<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"padding:0\"><div class=\"ps519 ss2112\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunt BEI (Banque europ\u00e9enne </span></div><div class=\"ps748 ss491\"><span class=\"f charStyle-044fe383 ps10\">d'investissement)</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"><div class=\"ps16552 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Emprunts bancaires bilat\u00e9raux</span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-right:1pt solid #ffffff;padding:0\"><div class=\"ps10526 ss2111\"><div><div class=\"ps746 ss491\"><span class=\"f charStyle-044fe383 ps10\">Placements priv\u00e9s </span><span class=\"f charStyle-373e86b9 ps33101\">Schuldschein</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33880 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-776a1ec6 ps275\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\">Calcul\u00e9 sur 12 mois.</span></div></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:51.76pt\">Les emprun</span><span class=\"f charStyle-165dec60 ps33881\" style=\"width:177.53pt\">ts obligataires, \u00e9mis dans le cadre du</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:49.75pt\">programme </span><span class=\"f charStyle-4afdd138 ps33882\" style=\"width:179.54pt\">de financement \u00e0 moyen et long terme Euro</span><span class=\"f charStyle-4afdd138 ps425\" style=\"width:1.9pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:78.13pt\">Medium Term Note, </span><span class=\"f charStyle-165dec60 ps33883\" style=\"width:151.14pt\">comportent une option qui permet aux</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:153.15pt\">obligataires de demander le rembourse</span><span class=\"f charStyle-165dec60 ps33884\" style=\"width:76.13pt\">ment anticip\u00e9 ou le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2252 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">rachat de leurs obligations si un changement de contr\u00f4le de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps2253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Valeo intervient et qu\u2019il entra\u00eene (i) un retrait de la notation</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps2254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">de l\u2019obligation ou (ii) une baisse de la notation de l\u2019obligation</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps2255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">en dessous de celle de valeur d\u2019investissement (investment</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps2256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">grade), dans l\u2019hypoth\u00e8se o\u00f9 elle \u00e9tait pr\u00e9c\u00e9demment not\u00e9e</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps2257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">valeur d\u2019investissement, ou (iii) une baisse d\u2019une cat\u00e9gorie de</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">notation (par exemple de Ba1 \u00e0 Ba2) si cette notation \u00e9tait</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps8483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:206.99pt\">pr\u00e9c\u00e9demment en dessous de valeur d\u2019investissement.</span></div><div class=\"ps2261 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.32pt\">Les autres financements (notamment les pr\u00eats bilat\u00e9raux, les</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps2264 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.27pt\">lignes de cr\u00e9dit et les placements priv\u00e9s Schuldscheindarlehen)</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps2266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.27pt\">comportent une clause de changement de contr\u00f4le qui permet</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps2963 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.29pt\">aux pr\u00eateurs ou investisseurs de demander le remboursement</span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> </span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.28pt\">anticip\u00e9 si un changement de contr\u00f4le de Valeo intervient et,</span><span class=\"f charStyle-81f42323 ps458\" style=\"width:1.78pt\"> </span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.3pt\">pour certains de ces financements, que Valeo n\u2019obtienne pas</span><span class=\"f charStyle-81f42323 ps449\" style=\"width:1.78pt\"> </span></div><div class=\"ps2249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.33pt\">une notation de valeur d\u2019investissement (investment grade) \u00e0</span><span class=\"f charStyle-81f42323 ps450\" style=\"width:1.78pt\"> </span></div><div class=\"ps2250 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:191.72pt\">l\u2019expiration de la p\u00e9riode de changement de contr\u00f4le.</span></div><div class=\"ps4432 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">Les lignes de cr\u00e9dit et cr\u00e9dits bilat\u00e9raux mis en place avec</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps2404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">les banques du pool bancaire de Valeo, l'emprunt aupr\u00e8s de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">la Banque europ\u00e9enne d'investissement, et les dettes long</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">terme du Groupe comportent des clauses dites de d\u00e9faut</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps3026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">crois\u00e9 (cross default) en vertu desquelles, si un certain</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps2338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">montant de dette financi\u00e8re est susceptible de devenir</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps2258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">exigible par anticipation, les autres dettes financi\u00e8res</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps2259 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:185.03pt\">peuvent \u00e9galement \u00eatre exig\u00e9es par anticipation.</span><span class=\"f charStyle-165dec60 ps33885\" style=\"width:1.96pt\"> </span></div><div class=\"ps2339 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">\u00c0 la date d\u2019arr\u00eat\u00e9 des comptes consolid\u00e9s, le Groupe pr\u00e9voit</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps2340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:9.61pt\">de</span><span class=\"f charStyle-fa2682f9 ps3180\" style=\"width:219.71pt\"> respecter les engagements attach\u00e9s \u00e0 sa dette sur les</span><span class=\"f charStyle-fa2682f9 ps639\" style=\"width:1.69pt\"> </span></div><div class=\"ps2341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-fa2682f9 ps448\" style=\"width:55.05pt\">prochains mois.</span></div><div class=\"ps33886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Notation de cr\u00e9dit du Groupe<span id=\"i2f560f4041344d6f8498412cc290067d\"></span></span></div><div class=\"ps15022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:280.51pt\">Le Groupe fait l'objet de notations financi\u00e8res aupr\u00e8s de plusieurs agences.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33887\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33898 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:117.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td><td style=\"padding:0;width:90.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2126\"><div><div class=\"ps509 ss2125\"><span class=\"f charStyle-ae6044e9 ps10\">Agence de notation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps14834 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps13753\">Date de publication<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1940 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps14457\">Dette long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28190 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps25696\">Perspective<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28193 ss1449\"><div><div class=\"ps509 ss979\"><span class=\"f charStyle-ae6044e9 ps17746\">Dette court terme<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2126\"><div><div class=\"ps746 ss2125\"><span class=\"f charStyle-a696f64a ps10\">Standard &amp; Poor's<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33889 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33888\">13 mars 2025</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20832 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33890\">BB</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps28196 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33891\">Stable</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps28198 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps33892\">B<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2126\"><div><div class=\"ps746 ss2125\"><span class=\"f charStyle-a696f64a ps10\">Moody\u2019s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33894 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33893\">26 septembre 2024</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20841 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps27708\">Ba1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33895 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-a696f64a ps30554\">N\u00e9gative<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33897 ss1449\"><div><div class=\"ps746 ss979\"><span class=\"f charStyle-044fe383 ps33896\">Non-prime</span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33900 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9v\u00e9nement <span class=\"f ps53\"> </span><span id=\"i8735a738e00c4fffa43ece4e9ca2faff\"></span></span><span class=\"f charStyle-aa33f529 ps33899\">post\u00e9rieur</span><span class=\"f charStyle-aa33f529 ps31840\"> \u00e0 la cl\u00f4ture</span></div><div class=\"ps33901 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:24.74pt\">N\u00e9ant.</span></div><div class=\"ps33902 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.2.2. <span id=\"i06722425ec8641f6a90e7677de381282\"></span></span><span class=\"f charStyle-9417a400 ps13292\">Financements court terme et concours bancaires</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:135.64pt\">Ce poste inclut essentiellement les </span><span class=\"f charStyle-e8054d08 ps33904\" style=\"width:82.3pt\">Negotiable European</span><span class=\"f charStyle-e8054d08 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a702cc9d ps6588\" style=\"width:115.78pt\">Commercial Paper (NEU CP)</span><span class=\"f charStyle-81f42323 ps33906\" style=\"width:102.19pt\">, anciennement billets de</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:35.61pt\">tr\u00e9sorerie,</span><span class=\"f charStyle-165dec60 ps33908\" style=\"width:3.09pt\"> </span><span class=\"f charStyle-05bafb21 ps33909\" style=\"width:179.21pt\">\u00e9mis par Valeo pour se financer \u00e0 court terme. Ils</span><span class=\"f charStyle-05bafb21 ps444\" style=\"width:1.68pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:65.4pt\">ont une maturit\u00e9</span><span class=\"f charStyle-165dec60 ps17794\" style=\"width:152.5pt\"> comprise entre 1 et 12 mois et sont</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps33912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:87.3pt\">\u00e9valu\u00e9s au co\u00fbt amorti.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Afin de refl\u00e9ter les besoins en tr\u00e9sorerie du Groupe, les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">financements court terme sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">nets de tr\u00e9sorerie sur op\u00e9rations de financement dans le</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.3pt\">Tableau des flux de tr\u00e9sorerie consolid\u00e9s.</span></div><div class=\"ps33916 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-373e86b9 ps10\">Negotiable European Commercial paper</span><span class=\"f charStyle-044fe383 ps9233\"> (Billets de tr\u00e9sorerie)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.1pt\"></span></span><span class=\"ps27853\">294<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.13pt\"></span></span><span class=\"ps33913\">525<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.72pt\"></span></span><span class=\"ps28312\">300<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.7pt\"></span></span><span class=\"ps574\">315<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">FINANCEMENTS COURT TERME ET CONCOURS BANCAIRES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.2pt\"></span></span><span class=\"ps33914\">645<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.35pt\"></span></span><span class=\"ps33915\">844<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.25pt\">Valeo dispose d'un programme de financement \u00e0 court terme sous forme de billets de tr\u00e9sorerie plafonn\u00e9 \u00e0 2,5 milliards</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.19pt\">d\u2019euros.</span><span class=\"f charStyle-165dec60 ps33917\" style=\"width:3.7pt\"> </span><span class=\"f charStyle-9c680f66 ps33918\" style=\"width:14.02pt\">Au\u00a0</span><span class=\"f charStyle-165dec60 ps19269\" style=\"width:70.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-9c680f66 ps33919\" style=\"width:162.2pt\">, ce programme est utilis\u00e9 \u00e0 hauteur de </span><span class=\"f charStyle-9c680f66 ps33920\" style=\"width:46.52pt\">294 millions</span><span class=\"f charStyle-9c680f66 ps33921\" style=\"width:65.13pt\"> d'euros (contre </span><span class=\"f charStyle-9c680f66 ps33922\" style=\"width:45.49pt\">525 millions</span><span class=\"f charStyle-9c680f66 ps33923\" style=\"width:44.05pt\"> d'euros au</span><span class=\"f charStyle-9c680f66 ps8438\" style=\"width:1.93pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-9c680f66 ps27793\" style=\"width:3.99pt\">).</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.3<span id=\"i4db9c628cd3a424da817f8f7161b1c6e\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30863\"><span style=\"display:inline-block;height:8.71pt;width:14.75pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Endettement financier net<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.6pt\">L\u2019endettement financier net comprend l\u2019ensemble des dettes financi\u00e8res \u00e0 long terme, les financements \u00e0 court terme et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:102.59pt\">les concours bancaires (cf. </span><span class=\"f charStyle-165dec60 ps33926\" style=\"width:41.53pt\">Note 9.1.2.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33927\" style=\"width:314.46pt\">, page 431), sous d\u00e9duction du montant des pr\u00eats et autres actifs financiers \u00e0 long</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">terme, de la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie, ainsi que la juste valeur des instruments d\u00e9riv\u00e9s sur risque de change<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:209.36pt\">et sur risque de\u00a0taux associ\u00e9s \u00e0 l\u2019un de ces \u00e9l\u00e9ments (cf. </span><span class=\"f charStyle-165dec60 ps33928\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps33929\" style=\"width:68.06pt\">, pages 433 \u00e0 438).</span></div><div class=\"ps33986 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:152.25pt\"></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:15pt\"><td rowspan=\"2\" style=\"padding:0\"><div class=\"ps1 ss2128\"><div><div class=\"ps10309 ss2127\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps33930 ss2130\"><div><div class=\"ps509 ss2129\"><span class=\"f charStyle-6bef0edd ps18554\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps4223 ss2130\"><div><div class=\"ps509 ss2129\"><span class=\"f charStyle-ae6044e9 ps33931\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33933 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps33932\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps29892 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps33934\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps31524 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-6bef0edd ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31526 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps33932\">Non courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31527 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps33934\">Courant<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27204 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-ae6044e9 ps31313\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Dettes financi\u00e8res \u00e0 long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33936 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.99pt\"></span></span><span class=\"ps33935\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps29899 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.93pt\"></span></span><span class=\"ps559\">484<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31529 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.59pt\"></span></span><span class=\"ps33937\">5\u00a0916<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31530 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.12pt\"></span></span><span class=\"ps33796\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31532 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.56pt\"></span></span><span class=\"ps13229\">1\u00a0334<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27212 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:30.61pt\"></span></span><span class=\"ps28799\">6\u00a0193<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Financements court terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33938 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29906 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.86pt\"></span></span><span class=\"ps33939\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31534 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.86pt\"></span></span><span class=\"ps33939\">594<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31536 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31538 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.92pt\"></span></span><span class=\"ps33940\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27222 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.92pt\"></span></span><span class=\"ps33940\">840<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Concours bancaires<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33941 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps29914 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.67pt\"></span></span><span class=\"ps1469\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31541 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.67pt\"></span></span><span class=\"ps1469\">51<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31543 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31544 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27234 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:43.66pt\"></span></span><span class=\"ps31324\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10370 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER BRUT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33942 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.62pt\"></span></span><span class=\"ps26053\">5\u00a0432<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps29921 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.02pt\"></span></span><span class=\"ps20856\">1\u00a0129<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33943 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.13pt\"></span></span><span class=\"ps31110\">6\u00a0561<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33944 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.76pt\"></span></span><span class=\"ps9318\">4\u00a0859<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33946 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.16pt\"></span></span><span class=\"ps33945\">2\u00a0178<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27246 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.3pt\"></span></span><span class=\"ps4356\">7\u00a0037<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss2132\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-044fe383 ps10\">Pr\u00eats et cr\u00e9ances \u00e0 long terme </span></div><div class=\"ps748 ss2127\"><span class=\"f charStyle-044fe383 ps10\">(y\u00a0compris\u00a0int\u00e9r\u00eats courus)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33947 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.49pt\"></span></span><span class=\"ps10034\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps29928 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33948 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.49pt\"></span></span><span class=\"ps10034\">(27)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33949 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.66pt\"></span></span><span class=\"ps31634\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33950 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33951 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.66pt\"></span></span><span class=\"ps31634\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33952 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33953 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.34pt\"></span></span><span class=\"ps29994\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33954 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.34pt\"></span></span><span class=\"ps29994\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33955 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33957 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.68pt\"></span></span><span class=\"ps33956\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33958 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.68pt\"></span></span><span class=\"ps33956\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-a696f64a ps10\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33959 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33961 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.51pt\"></span></span><span class=\"ps33960\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33962 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.51pt\"></span></span><span class=\"ps33960\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33963 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.11pt\"></span></span><span class=\"ps28814\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33965 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.81pt\"></span></span><span class=\"ps33964\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33966 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.81pt\"></span></span><span class=\"ps33964\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss2132\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s associ\u00e9s sur risque </span></div><div class=\"ps748 ss2127\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0change et sur risque de taux\u00a0</span><span class=\"f charStyle-4da12822 ps33967\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33969 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.93pt\"></span></span><span class=\"ps33968\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33970 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.9pt\"></span></span><span class=\"ps545\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33971 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.91pt\"></span></span><span class=\"ps33037\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33972 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:41.93pt\"></span></span><span class=\"ps33968\">(3)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33973 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.75pt\"></span></span><span class=\"ps26847\">(11)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33974 ss803\"><div><div class=\"ps516 ss360\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:38.5pt\"></span></span><span class=\"ps32644\">(14)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16458 ss2131\"><div><div class=\"ps746 ss2127\"><span class=\"f charStyle-96b05324 ps10\">ENDETTEMENT FINANCIER NET<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33976 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.01pt\"></span></span><span class=\"ps33975\">5\u00a0402<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33978 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.98pt\"></span></span><span class=\"ps33977\">(1\u00a0380)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33980 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.07pt\"></span></span><span class=\"ps33979\">4\u00a0022<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33982 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:28.62pt\"></span></span><span class=\"ps33981\">4\u00a0831<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33984 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:27.47pt\"></span></span><span class=\"ps33983\">(1\u00a0018)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps33985 ss375\"><div><div class=\"ps509 ss360\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.35pt\"></span></span><span class=\"ps33099\">3\u00a0813<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps33987 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.1pt\">La juste valeur des instruments d\u00e9riv\u00e9s associ\u00e9s \u00e0 un \u00e9l\u00e9ment de l\u2019endettement financier net correspond \u00e0 celle des instruments de change</span><span class=\"f charStyle-776a1ec6 ps471\" style=\"width:1.7pt\"> </span></div><div class=\"ps33992 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:342.34pt\">et\u00a0de\u00a0taux couvrant des actifs ou passifs relatifs aux activit\u00e9s de financement du Groupe \u00e0 fin d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps33988\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps33989\" style=\"width:55.38pt\"> et fin d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps33990\" style=\"width:15.97pt\">2024</span><span class=\"f charStyle-776a1ec6 ps33991\" style=\"width:1.37pt\">.<span class=\"f ps53\"> </span></span></div><div class=\"ps33994 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.1<span id=\"ic8cbb28adfed467db24c234905a27f8b\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps33993\"><span style=\"display:inline-block;height:8.22pt;width:10.26pt\"></span></span><span class=\"ps29285\">Pr\u00eats et cr\u00e9ances \u00e0 long terme</span></span></div><div class=\"ps33996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Cette cat\u00e9gorie regroupe essentiellement les pr\u00eats \u00e0 long terme. Ils sont \u00e9valu\u00e9s selon la m\u00e9thode du co\u00fbt amorti</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps33997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">en\u00a0utilisant le taux d\u2019int\u00e9r\u00eat effectif. Ils figurent dans l\u2019\u00e9tat de la situation financi\u00e8re, sur la ligne \u00ab\u00a0Autres actifs financiers</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33998 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.07pt\">non courants\u00a0\u00bb.</span></div><div class=\"ps26527 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.2<span id=\"ibd55691eb89a4abf9eeec2c1aae99ee4\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34000\"><span style=\"display:inline-block;height:8.22pt;width:8.58pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie</span></div><div class=\"ps6626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">Ce poste est constitu\u00e9 de valeurs mobili\u00e8res de placement (de type OPCVM mon\u00e9taire et mon\u00e9taire court terme), de d\u00e9p\u00f4ts et</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:245.98pt\">placements sans risque \u00e0 tr\u00e8s court terme facilement mobilisables</span><span class=\"f charStyle-165dec60 ps34001\" style=\"width:235.3pt\"> ou cessibles ainsi que de liquidit\u00e9s sur des comptes courants</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38pt\">bancaires.</span></div><div class=\"ps5587 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:253.2pt\">Les \u00e9l\u00e9ments inclus dans ce poste sont qualifi\u00e9s d\u2019\u00e9quivalents de </span><span class=\"f charStyle-79bb7869 ps34004\" style=\"width:227.99pt\">tr\u00e9sorerie, car ils sont facilement convertibles en un montant</span><span class=\"f charStyle-79bb7869 ps1121\" style=\"width:1.79pt\"> </span></div><div class=\"ps34007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:23.25pt\">connu</span><span class=\"f charStyle-c709af45 ps34005\" style=\"width:3.66pt\"> </span><span class=\"f charStyle-165dec60 ps13790\" style=\"width:252.9pt\">de tr\u00e9sorerie, tout en \u00e9tant soumis \u00e0 un risque n\u00e9gligeable de </span><span class=\"f charStyle-79bb7869 ps34006\" style=\"width:201.52pt\">changement de valeur. Ces actifs financiers courants,</span><span class=\"f charStyle-79bb7869 ps639\" style=\"width:1.79pt\"> </span></div><div class=\"ps12079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:50.16pt\">comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34008\" style=\"width:420.15pt\"> \u00e0 la juste valeur par le r\u00e9sultat, sont d\u00e9tenus dans l\u2019optique de faire face aux besoins de tr\u00e9sorerie \u00e0 court terme.</span></div><div class=\"ps34013 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps4571 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Valeurs mobili\u00e8res de placement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.59pt\"></span></span><span class=\"ps34009\">1\u00a0247<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.94pt\"></span></span><span class=\"ps34010\">1\u00a0585<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Liquidit\u00e9s et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.78pt\"></span></span><span class=\"ps34011\">1\u00a0234<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.62pt\"></span></span><span class=\"ps28136\">1\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TR\u00c9SORERIE ET \u00c9QUIVALENTS DE TR\u00c9SORERIE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.9pt\"></span></span><span class=\"ps30832\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.06pt\"></span></span><span class=\"ps34012\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:208.9pt\">La tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34014\" style=\"width:20.43pt\">2 481</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.42pt\">millions</span><span class=\"f charStyle-165dec60 ps9928\" style=\"width:48.16pt\"> d\u2019euros au </span><span class=\"f charStyle-165dec60 ps34016\" style=\"width:70.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34017\" style=\"width:60.8pt\">, compos\u00e9s de </span><span class=\"f charStyle-165dec60 ps34018\" style=\"width:20.01pt\">1 247<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.42pt\">millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps9928\" style=\"width:199.86pt\"> d'euros de\u00a0valeurs mobili\u00e8res de placement ayant</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.74pt\">un risque de\u00a0variation de valeur tr\u00e8s faible et </span><span class=\"f charStyle-165dec60 ps34021\" style=\"width:51.52pt\">1 234 millions</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps17140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">d'euros de disponibilit\u00e9s. Les\u00a0valeurs mobili\u00e8res de</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">placement sont uniquement constitu\u00e9es de FCP<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:44.5pt\">mon\u00e9taires.</span></div><div class=\"ps12341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.27pt\">Ces \u00e9quivalents de tr\u00e9sorerie sont comptabilis\u00e9s \u00e0 la juste<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps415\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12342 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:24.6pt\">valeur </span><span class=\"f charStyle-165dec60 ps19279\" style=\"width:60.86pt\">de niveau 1 ou 2.</span></div><div class=\"ps34022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion de la liquidit\u00e9 \u00e0 court terme<span id=\"ib69b72d363d84d2e876a89f15261fb0f\"></span></span></div><div class=\"ps34023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">La tr\u00e9sorerie du Groupe est centralis\u00e9e lorsque la l\u00e9gislation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">locale le permet. Dans ce cas, les exc\u00e9dents de tr\u00e9sorerie ou</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps34025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">les besoins de financement des filiales sont centralis\u00e9s et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38.46pt\">plac\u00e9s ou </span><span class=\"f charStyle-1abed7d4 ps34026\" style=\"width:172.89pt\">financ\u00e9s aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re, Valeo. Un </span><span class=\"f charStyle-a3c65629 ps34027\" style=\"width:17.91pt\">cash</span><span class=\"f charStyle-a3c65629 ps410\" style=\"width:1.93pt\"> </span></div><div class=\"ps34031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a3c65629 ps275\" style=\"width:50.35pt\">pooling cross</span><span class=\"f charStyle-e8054d08 ps34029\" style=\"width:28.19pt\"> border<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34030\" style=\"width:150.78pt\"> multi-devises est en place, en euro, en</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:23.94pt\">dollar </span><span class=\"f charStyle-53279637 ps30383\" style=\"width:40.73pt\">am\u00e9ricain, </span><span class=\"f charStyle-165dec60 ps16178\" style=\"width:164.63pt\">en forint hongrois et\u00a0en couronne tch\u00e8que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:157.54pt\">pour les filiales europ\u00e9ennes, en dollar <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps34033\" style=\"width:71.73pt\">am\u00e9ricain pour les</span><span class=\"f charStyle-53279637 ps415\" style=\"width:1.85pt\"> </span></div><div class=\"ps34015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:191.43pt\">filiales am\u00e9ricaines et en renminbi chinois pour <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34035\" style=\"width:37.87pt\">les filiales</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.12pt\">chinoises. Ce </span><span class=\"f charStyle-e8054d08 ps34036\" style=\"width:111.88pt\">cash pooling cross border</span><span class=\"f charStyle-165dec60 ps34037\" style=\"width:57.28pt\"> multi-devises</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">permet une gestion centralis\u00e9e quotidienne de la tr\u00e9sorerie.</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps17139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:98.56pt\">Dans les autres pays, des </span><span class=\"f charStyle-e8054d08 ps34038\" style=\"width:49.38pt\">cash pooling</span><span class=\"f charStyle-165dec60 ps34039\" style=\"width:81.32pt\"> locaux sont en place</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps17140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">ou des pr\u00eats et emprunts r\u00e9guliers sont enregistr\u00e9s avec la</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps17141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:210.05pt\">soci\u00e9t\u00e9 m\u00e8re, Valeo. Dans certains pays, ces op\u00e9rations </span><span class=\"f charStyle-e8054d08 ps34040\" style=\"width:19.24pt\">cross</span><span class=\"f charStyle-e8054d08 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps17142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:25.39pt\">border</span><span class=\"f charStyle-165dec60 ps34041\" style=\"width:203.91pt\"> peuvent g\u00e9n\u00e9rer des frottements fiscaux ou \u00eatre</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34043 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.21pt\">soumises \u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps34042\" style=\"width:182.08pt\">des r\u00e9glementations particuli\u00e8res et n\u00e9cessiter<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps467\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps22241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:63.49pt\">des autorisations</span><span class=\"f charStyle-165dec60 ps34044\" style=\"width:61.51pt\"> administratives.</span></div><div class=\"ps12344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe g\u00e8re \u00e9galement sa liquidit\u00e9 en veillant \u00e0 la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:133.96pt\">remont\u00e9e de dividendes des filiales.</span></div><div class=\"ps34045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de contrepartie bancaire<span id=\"i494f663036ba4c0483dc2a920d5233ca\"></span></span></div><div class=\"ps18628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">Les liquidit\u00e9s exc\u00e9dentaires du Groupe sont plac\u00e9es aupr\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps18629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.55pt\">de </span><span class=\"f charStyle-81f42323 ps34046\" style=\"width:215.72pt\">soci\u00e9t\u00e9s de gestion, filiales d\u2019\u00e9tablissements financiers de</span><span class=\"f charStyle-81f42323 ps455\" style=\"width:1.78pt\"> </span></div><div class=\"ps34047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.84pt\">premier</span><span class=\"f charStyle-165dec60 ps6126\" style=\"width:200.47pt\"> rang. Les titres sont \u00e9galement conserv\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34048 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:178.16pt\">livres de banques d\u00e9positaires de premier rang.</span></div><div class=\"ps6948 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.3<span id=\"ia30d3bdc090c4200825d7118087beaa3\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps30766\"><span style=\"display:inline-block;height:8.22pt;width:8.56pt\"></span></span><span class=\"ps29285\">Endettement financier net par devise</span></span></div><div class=\"ps33160 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.24pt\">L\u2019endettement financier net par devise de remboursement est le suivant\u00a0:</span></div><div class=\"ps34055 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.07pt\"></span></span><span class=\"ps34049\">4\u00a0181<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.64pt\"></span></span><span class=\"ps34050\">4\u00a0104<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.82pt\"></span></span><span class=\"ps30678\">98<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.2pt\"></span></span><span class=\"ps4024\">116<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Real br\u00e9silien<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.24pt\"></span></span><span class=\"ps1280\">(53)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.9pt\"></span></span><span class=\"ps25384\">(56)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Won sud-cor\u00e9en<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.79pt\"></span></span><span class=\"ps33360\">(201)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.11pt\"></span></span><span class=\"ps34051\">(298)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Renminbi<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.95pt\"></span></span><span class=\"ps11807\">20<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70pt\"></span></span><span class=\"ps34052\">(1)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.23pt\"></span></span><span class=\"ps28330\">(23)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(52)</span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.79pt\"></span></span><span class=\"ps34053\">4\u00a0022<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.28pt\"></span></span><span class=\"ps34054\">3\u00a0813<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:445.05pt\">Dans le tableau ci-dessus, l\u2019endettement financier net inclut la juste valeur des instruments d\u00e9riv\u00e9s (notamment les </span><span class=\"f charStyle-e8054d08 ps34056\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34057\" style=\"width:12.17pt\"> de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34059 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.23pt\">couverture) rattach\u00e9s aux dettes financi\u00e8res. Cette juste valeur est pr\u00e9sent\u00e9e dans la devise fonctionnelle de l\u2019entit\u00e9 ayant</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps34060 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:100.23pt\">contract\u00e9 ces instruments.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-521": {
   "value": "<div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:458.56pt\">L\u2019endettement financier brut comprend les dettes financi\u00e8res \u00e0 long terme, les financements court terme et les concours<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps27007\" style=\"width:1.88pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps6588\" style=\"width:37.2pt\">bancaires.<span class=\"f ps53\"> </span></span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Ce poste inclut principalement les emprunts obligataires,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:13.9pt\">les <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps33323\" style=\"width:204.09pt\">placements priv\u00e9s, les emprunts contract\u00e9s aupr\u00e8s de</span><span class=\"f charStyle-81f42323 ps412\" style=\"width:1.78pt\"> </span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:39.88pt\">la\u00a0Banque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33325\" style=\"width:5.28pt\"> <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c8069515 ps33326\" style=\"width:172.82pt\">europ\u00e9enne d'investissement, les dettes sur</span><span class=\"f charStyle-c8069515 ps431\" style=\"width:1.84pt\"> </span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:88.43pt\">biens lou\u00e9s et les autres </span><span class=\"f charStyle-165dec60 ps33328\" style=\"width:38.96pt\">emprunts.</span><span class=\"f charStyle-165dec60 ps33329\" style=\"width:1.96pt\"> </span></div><div class=\"ps33331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Les emprunts sont \u00e9valu\u00e9s au co\u00fbt amorti. Le montant</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:21.49pt\">des i</span><span class=\"f charStyle-c8069515 ps33332\" style=\"width:196.45pt\">nt\u00e9r\u00eats comptabilis\u00e9s en charges financi\u00e8res est</span><span class=\"f charStyle-c8069515 ps610\" style=\"width:1.84pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c8069515 ps6588\" style=\"width:38.66pt\">d\u00e9termin\u00e9</span><span class=\"f charStyle-165dec60 ps5623\" style=\"width:179.29pt\"> par application du taux d\u2019int\u00e9r\u00eat effectif de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps33335 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">l\u2019emprunt \u00e0 sa valeur comptable. La diff\u00e9rence entre la</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps8503 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:74.91pt\">charge calcul\u00e9e \u00e0 </span><span class=\"f charStyle-9206869b ps33336\" style=\"width:143.06pt\">partir du taux d\u2019int\u00e9r\u00eat effectif et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps418\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:91.05pt\">coupon impacte la valeu</span><span class=\"f charStyle-165dec60 ps33337\" style=\"width:46.73pt\">r de la dette.</span></div><div class=\"ps33322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:217.97pt\">Lorsqu\u2019un emprunt \u00e0 taux fixe est d\u00e9sign\u00e9 en tant</span><span class=\"f charStyle-9206869b ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps33324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:42.77pt\">qu\u2019\u00e9l\u00e9ment</span><span class=\"f charStyle-165dec60 ps33339\" style=\"width:175.19pt\"> couvert dans une relation de couverture de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.74pt\">juste valeur, sa v</span><span class=\"f charStyle-9206869b ps33340\" style=\"width:150.2pt\">aleur comptable est ajust\u00e9e \u00e0 chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps33330 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps448\" style=\"width:80.95pt\">cl\u00f4ture de la variation</span><span class=\"f charStyle-165dec60 ps4123\" style=\"width:136.97pt\"> de juste valeur imputable au risque</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps33341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.18pt\">couvert.</span></div><div class=\"ps33333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Les dettes sur biens lou\u00e9s sont \u00e9valu\u00e9es conform\u00e9ment</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:84.43pt\">au descriptif fourni en </span><span class=\"f charStyle-165dec60 ps33342\" style=\"width:30.54pt\">Note 7.3</span><span class=\"f charStyle-165dec60 ps11863\" style=\"width:61.31pt\">, pages 416 \u00e0 418</span><span class=\"f charStyle-165dec60 ps33343\" style=\"width:1.59pt\">.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:135.64pt\">Ce poste inclut essentiellement les </span><span class=\"f charStyle-e8054d08 ps33904\" style=\"width:82.3pt\">Negotiable European</span><span class=\"f charStyle-e8054d08 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a702cc9d ps6588\" style=\"width:115.78pt\">Commercial Paper (NEU CP)</span><span class=\"f charStyle-81f42323 ps33906\" style=\"width:102.19pt\">, anciennement billets de</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:35.61pt\">tr\u00e9sorerie,</span><span class=\"f charStyle-165dec60 ps33908\" style=\"width:3.09pt\"> </span><span class=\"f charStyle-05bafb21 ps33909\" style=\"width:179.21pt\">\u00e9mis par Valeo pour se financer \u00e0 court terme. Ils</span><span class=\"f charStyle-05bafb21 ps444\" style=\"width:1.68pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-05bafb21 ps6588\" style=\"width:65.4pt\">ont une maturit\u00e9</span><span class=\"f charStyle-165dec60 ps17794\" style=\"width:152.5pt\"> comprise entre 1 et 12 mois et sont</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps33912 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:87.3pt\">\u00e9valu\u00e9s au co\u00fbt amorti.</span></div><div class=\"ps33905 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">Afin de refl\u00e9ter les besoins en tr\u00e9sorerie du Groupe, les</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">financements court terme sont pr\u00e9sent\u00e9s dans les flux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33910 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">nets de tr\u00e9sorerie sur op\u00e9rations de financement dans le</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps33911 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.3pt\">Tableau des flux de tr\u00e9sorerie consolid\u00e9s.</span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.6pt\">L\u2019endettement financier net comprend l\u2019ensemble des dettes financi\u00e8res \u00e0 long terme, les financements \u00e0 court terme et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:102.59pt\">les concours bancaires (cf. </span><span class=\"f charStyle-165dec60 ps33926\" style=\"width:41.53pt\">Note 9.1.2.2<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps33927\" style=\"width:314.46pt\">, page 431), sous d\u00e9duction du montant des pr\u00eats et autres actifs financiers \u00e0 long</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">terme, de la tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie, ainsi que la juste valeur des instruments d\u00e9riv\u00e9s sur risque de change<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:209.36pt\">et sur risque de\u00a0taux associ\u00e9s \u00e0 l\u2019un de ces \u00e9l\u00e9ments (cf. </span><span class=\"f charStyle-165dec60 ps33928\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps33929\" style=\"width:68.06pt\">, pages 433 \u00e0 438).</span></div><div class=\"ps33996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Cette cat\u00e9gorie regroupe essentiellement les pr\u00eats \u00e0 long terme. Ils sont \u00e9valu\u00e9s selon la m\u00e9thode du co\u00fbt amorti</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps33997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.65pt\">en\u00a0utilisant le taux d\u2019int\u00e9r\u00eat effectif. Ils figurent dans l\u2019\u00e9tat de la situation financi\u00e8re, sur la ligne \u00ab\u00a0Autres actifs financiers</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps33998 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:57.07pt\">non courants\u00a0\u00bb.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-522": {
   "value": "<div class=\"ps26527 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.3.2<span id=\"ibd55691eb89a4abf9eeec2c1aae99ee4\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34000\"><span style=\"display:inline-block;height:8.22pt;width:8.58pt\"></span></span></span><span class=\"f charStyle-9417a400 ps29285\">Tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie</span></div><div class=\"ps6626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">Ce poste est constitu\u00e9 de valeurs mobili\u00e8res de placement (de type OPCVM mon\u00e9taire et mon\u00e9taire court terme), de d\u00e9p\u00f4ts et</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:245.98pt\">placements sans risque \u00e0 tr\u00e8s court terme facilement mobilisables</span><span class=\"f charStyle-165dec60 ps34001\" style=\"width:235.3pt\"> ou cessibles ainsi que de liquidit\u00e9s sur des comptes courants</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38pt\">bancaires.</span></div><div class=\"ps5587 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:253.2pt\">Les \u00e9l\u00e9ments inclus dans ce poste sont qualifi\u00e9s d\u2019\u00e9quivalents de </span><span class=\"f charStyle-79bb7869 ps34004\" style=\"width:227.99pt\">tr\u00e9sorerie, car ils sont facilement convertibles en un montant</span><span class=\"f charStyle-79bb7869 ps1121\" style=\"width:1.79pt\"> </span></div><div class=\"ps34007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:23.25pt\">connu</span><span class=\"f charStyle-c709af45 ps34005\" style=\"width:3.66pt\"> </span><span class=\"f charStyle-165dec60 ps13790\" style=\"width:252.9pt\">de tr\u00e9sorerie, tout en \u00e9tant soumis \u00e0 un risque n\u00e9gligeable de </span><span class=\"f charStyle-79bb7869 ps34006\" style=\"width:201.52pt\">changement de valeur. Ces actifs financiers courants,</span><span class=\"f charStyle-79bb7869 ps639\" style=\"width:1.79pt\"> </span></div><div class=\"ps12079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:50.16pt\">comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34008\" style=\"width:420.15pt\"> \u00e0 la juste valeur par le r\u00e9sultat, sont d\u00e9tenus dans l\u2019optique de faire face aux besoins de tr\u00e9sorerie \u00e0 court terme.</span></div><div class=\"ps34013 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps4571 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Valeurs mobili\u00e8res de placement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.59pt\"></span></span><span class=\"ps34009\">1\u00a0247<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.94pt\"></span></span><span class=\"ps34010\">1\u00a0585<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Liquidit\u00e9s et \u00e9quivalents de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.78pt\"></span></span><span class=\"ps34011\">1\u00a0234<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.62pt\"></span></span><span class=\"ps28136\">1\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TR\u00c9SORERIE ET \u00c9QUIVALENTS DE TR\u00c9SORERIE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.9pt\"></span></span><span class=\"ps30832\">2\u00a0481<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.06pt\"></span></span><span class=\"ps34012\">3\u00a0153<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:208.9pt\">La tr\u00e9sorerie et \u00e9quivalents de tr\u00e9sorerie s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34014\" style=\"width:20.43pt\">2 481</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.42pt\">millions</span><span class=\"f charStyle-165dec60 ps9928\" style=\"width:48.16pt\"> d\u2019euros au </span><span class=\"f charStyle-165dec60 ps34016\" style=\"width:70.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34017\" style=\"width:60.8pt\">, compos\u00e9s de </span><span class=\"f charStyle-165dec60 ps34018\" style=\"width:20.01pt\">1 247<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:29.42pt\">millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps9928\" style=\"width:199.86pt\"> d'euros de\u00a0valeurs mobili\u00e8res de placement ayant</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:177.74pt\">un risque de\u00a0variation de valeur tr\u00e8s faible et </span><span class=\"f charStyle-165dec60 ps34021\" style=\"width:51.52pt\">1 234 millions</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps17140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">d'euros de disponibilit\u00e9s. Les\u00a0valeurs mobili\u00e8res de</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">placement sont uniquement constitu\u00e9es de FCP<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:44.5pt\">mon\u00e9taires.</span></div><div class=\"ps12341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:229.27pt\">Ces \u00e9quivalents de tr\u00e9sorerie sont comptabilis\u00e9s \u00e0 la juste<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps415\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12342 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps275\" style=\"width:24.6pt\">valeur </span><span class=\"f charStyle-165dec60 ps19279\" style=\"width:60.86pt\">de niveau 1 ou 2.</span></div><div class=\"ps34022 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion de la liquidit\u00e9 \u00e0 court terme<span id=\"ib69b72d363d84d2e876a89f15261fb0f\"></span></span></div><div class=\"ps34023 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">La tr\u00e9sorerie du Groupe est centralis\u00e9e lorsque la l\u00e9gislation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34024 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">locale le permet. Dans ce cas, les exc\u00e9dents de tr\u00e9sorerie ou</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps34025 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">les besoins de financement des filiales sont centralis\u00e9s et</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38.46pt\">plac\u00e9s ou </span><span class=\"f charStyle-1abed7d4 ps34026\" style=\"width:172.89pt\">financ\u00e9s aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re, Valeo. Un </span><span class=\"f charStyle-a3c65629 ps34027\" style=\"width:17.91pt\">cash</span><span class=\"f charStyle-a3c65629 ps410\" style=\"width:1.93pt\"> </span></div><div class=\"ps34031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a3c65629 ps275\" style=\"width:50.35pt\">pooling cross</span><span class=\"f charStyle-e8054d08 ps34029\" style=\"width:28.19pt\"> border<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34030\" style=\"width:150.78pt\"> multi-devises est en place, en euro, en</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34032 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:23.94pt\">dollar </span><span class=\"f charStyle-53279637 ps30383\" style=\"width:40.73pt\">am\u00e9ricain, </span><span class=\"f charStyle-165dec60 ps16178\" style=\"width:164.63pt\">en forint hongrois et\u00a0en couronne tch\u00e8que</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:157.54pt\">pour les filiales europ\u00e9ennes, en dollar <span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps34033\" style=\"width:71.73pt\">am\u00e9ricain pour les</span><span class=\"f charStyle-53279637 ps415\" style=\"width:1.85pt\"> </span></div><div class=\"ps34015 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:191.43pt\">filiales am\u00e9ricaines et en renminbi chinois pour <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34035\" style=\"width:37.87pt\">les filiales</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34019 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:60.12pt\">chinoises. Ce </span><span class=\"f charStyle-e8054d08 ps34036\" style=\"width:111.88pt\">cash pooling cross border</span><span class=\"f charStyle-165dec60 ps34037\" style=\"width:57.28pt\"> multi-devises</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34020 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">permet une gestion centralis\u00e9e quotidienne de la tr\u00e9sorerie.</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps17139 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:98.56pt\">Dans les autres pays, des </span><span class=\"f charStyle-e8054d08 ps34038\" style=\"width:49.38pt\">cash pooling</span><span class=\"f charStyle-165dec60 ps34039\" style=\"width:81.32pt\"> locaux sont en place</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps17140 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">ou des pr\u00eats et emprunts r\u00e9guliers sont enregistr\u00e9s avec la</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps17141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:210.05pt\">soci\u00e9t\u00e9 m\u00e8re, Valeo. Dans certains pays, ces op\u00e9rations </span><span class=\"f charStyle-e8054d08 ps34040\" style=\"width:19.24pt\">cross</span><span class=\"f charStyle-e8054d08 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps17142 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:25.39pt\">border</span><span class=\"f charStyle-165dec60 ps34041\" style=\"width:203.91pt\"> peuvent g\u00e9n\u00e9rer des frottements fiscaux ou \u00eatre</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34043 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:47.21pt\">soumises \u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps34042\" style=\"width:182.08pt\">des r\u00e9glementations particuli\u00e8res et n\u00e9cessiter<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps467\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps22241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:63.49pt\">des autorisations</span><span class=\"f charStyle-165dec60 ps34044\" style=\"width:61.51pt\"> administratives.</span></div><div class=\"ps12344 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe g\u00e8re \u00e9galement sa liquidit\u00e9 en veillant \u00e0 la<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps20957 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:133.96pt\">remont\u00e9e de dividendes des filiales.</span></div><div class=\"ps34045 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de contrepartie bancaire<span id=\"i494f663036ba4c0483dc2a920d5233ca\"></span></span></div><div class=\"ps18628 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">Les liquidit\u00e9s exc\u00e9dentaires du Groupe sont plac\u00e9es aupr\u00e8s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps18629 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.55pt\">de </span><span class=\"f charStyle-81f42323 ps34046\" style=\"width:215.72pt\">soci\u00e9t\u00e9s de gestion, filiales d\u2019\u00e9tablissements financiers de</span><span class=\"f charStyle-81f42323 ps455\" style=\"width:1.78pt\"> </span></div><div class=\"ps34047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.84pt\">premier</span><span class=\"f charStyle-165dec60 ps6126\" style=\"width:200.47pt\"> rang. Les titres sont \u00e9galement conserv\u00e9s dans les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34048 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:178.16pt\">livres de banques d\u00e9positaires de premier rang.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-523": {
   "value": "<div class=\"ps6626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">Ce poste est constitu\u00e9 de valeurs mobili\u00e8res de placement (de type OPCVM mon\u00e9taire et mon\u00e9taire court terme), de d\u00e9p\u00f4ts et</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps275\" style=\"width:245.98pt\">placements sans risque \u00e0 tr\u00e8s court terme facilement mobilisables</span><span class=\"f charStyle-165dec60 ps34001\" style=\"width:235.3pt\"> ou cessibles ainsi que de liquidit\u00e9s sur des comptes courants</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:38pt\">bancaires.</span></div><div class=\"ps5587 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:253.2pt\">Les \u00e9l\u00e9ments inclus dans ce poste sont qualifi\u00e9s d\u2019\u00e9quivalents de </span><span class=\"f charStyle-79bb7869 ps34004\" style=\"width:227.99pt\">tr\u00e9sorerie, car ils sont facilement convertibles en un montant</span><span class=\"f charStyle-79bb7869 ps1121\" style=\"width:1.79pt\"> </span></div><div class=\"ps34007 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:23.25pt\">connu</span><span class=\"f charStyle-c709af45 ps34005\" style=\"width:3.66pt\"> </span><span class=\"f charStyle-165dec60 ps13790\" style=\"width:252.9pt\">de tr\u00e9sorerie, tout en \u00e9tant soumis \u00e0 un risque n\u00e9gligeable de </span><span class=\"f charStyle-79bb7869 ps34006\" style=\"width:201.52pt\">changement de valeur. Ces actifs financiers courants,</span><span class=\"f charStyle-79bb7869 ps639\" style=\"width:1.79pt\"> </span></div><div class=\"ps12079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-79bb7869 ps275\" style=\"width:50.16pt\">comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34008\" style=\"width:420.15pt\"> \u00e0 la juste valeur par le r\u00e9sultat, sont d\u00e9tenus dans l\u2019optique de faire face aux besoins de tr\u00e9sorerie \u00e0 court terme.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-525": {
   "value": "<div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-524": {
   "value": "<div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">Le Groupe a recours \u00e0 des instruments financiers d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">pour g\u00e9rer et r\u00e9duire ses expositions aux risques de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:191.87pt\">change, de mati\u00e8res premi\u00e8res et de taux d'int\u00e9r\u00eat.<span class=\"f ps53\"> </span></span></div><div class=\"ps30824 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les instruments financiers d\u00e9riv\u00e9s sont comptabilis\u00e9s<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans l\u2019\u00e9tat de la situation financi\u00e8re \u00e0 leur juste valeur sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">les lignes Autres actifs financiers non courants ou Autres</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps30815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">passifs financiers non courants, lorsque la transaction</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps30816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">sous-jacente a une \u00e9ch\u00e9ance long terme (sup\u00e9rieure \u00e0 un</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">an) et sur les lignes Autres actifs financiers courants ou</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Autres passifs financiers courants, pour les transactions</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.23pt\">couvertes dont l\u2019\u00e9ch\u00e9ance intervient dans les 12 mois.</span></div><div class=\"ps12302 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">L\u2019incidence comptable des variations de juste valeur de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12304 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ces instruments d\u00e9riv\u00e9s est diff\u00e9rente selon que la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12306 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:185.8pt\">comptabilit\u00e9 de couverture est appliqu\u00e9e ou non.</span></div><div class=\"ps12307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:200.03pt\">Lorsque la comptabilit\u00e9 de couverture est appliqu\u00e9e :</span></div><div class=\"ps34066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">pour les couvertures de juste valeur d\u2019actifs ou de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34067 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.32pt\">passifs existants dans l\u2019\u00e9tat de la situation financi\u00e8re,</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps12311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:41.96pt\">l\u2019\u00e9l\u00e9ment c</span><span class=\"f charStyle-9c680f66 ps34068\" style=\"width:170.28pt\">ouvert de ces actifs ou passifs est \u00e9valu\u00e9 \u00e0 sa<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps444\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12312 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps3285\" style=\"width:46.84pt\">juste valeur</span><span class=\"f charStyle-165dec60 ps34069\" style=\"width:165.47pt\">. La variation de cette juste valeur est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:63.61pt\">enregistr\u00e9e en </span><span class=\"f charStyle-81f42323 ps34070\" style=\"width:32.61pt\">r\u00e9sultat </span><span class=\"f charStyle-165dec60 ps34071\" style=\"width:116.05pt\">et compens\u00e9e (pour la part</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.26pt\">efficace) par les variations sym\u00e9triques de juste valeur</span><span class=\"f charStyle-165dec60 ps8474\" style=\"width:1.96pt\"> </span></div><div class=\"ps12315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:93.68pt\">des instruments d\u00e9riv\u00e9s ;</span></div><div class=\"ps34072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.28pt\">pour les couvertures de flux futurs de tr\u00e9sorerie, la part</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps34073 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:212.27pt\">efficace de la variation de juste valeur des instruments</span><span class=\"f charStyle-81f42323 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps12318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:30.85pt\">d\u00e9riv\u00e9s </span><span class=\"f charStyle-165dec60 ps34074\" style=\"width:181.43pt\">est enregistr\u00e9e directement dans les Autres<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps12321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.25pt\">\u00e9l\u00e9ments du r\u00e9sultat global et la part inefficace impacte</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps12322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:212.3pt\">les Autres produits et charges financiers. Les montants</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps12324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:55.12pt\">comptabilis\u00e9s </span><span class=\"f charStyle-81f42323 ps34075\" style=\"width:157.18pt\">en Autres \u00e9l\u00e9ments du r\u00e9sultat global sont</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps12326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps3285\" style=\"width:70.73pt\">recycl\u00e9s en r\u00e9sultat<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34076\" style=\"width:141.54pt\"> lorsque le risque couvert impacte le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps12327 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:73.38pt\">compte de r\u00e9sultat.</span></div><div class=\"ps30578 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.92pt\">Dans le cas o\u00f9 la comptabilit\u00e9 de couverture n\u2019est pas</span><span class=\"f charStyle-73c14ed6 ps410\" style=\"width:1.75pt\"> </span></div><div class=\"ps34078 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:37.27pt\">appliqu\u00e9e,</span><span class=\"f charStyle-165dec60 ps34077\" style=\"width:180.71pt\"> la variation de juste valeur des instruments<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en compte de r\u00e9sultat au sein de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.94pt\">la rubrique Autres produits et charges financiers.</span></div><div class=\"ps34081 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Change<span id=\"ia823605dbd3f420cb2b1725f2d954ca2\"></span></span></div><div class=\"ps14860 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14889 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:18.04pt\">des <span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd9dab06 ps34082\" style=\"width:199.91pt\">positions bilantielles libell\u00e9es en devises \u00e9trang\u00e8res,</span><span class=\"f charStyle-bd9dab06 ps425\" style=\"width:1.81pt\"> </span></div><div class=\"ps14891 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd9dab06 ps6588\" style=\"width:43.96pt\">bien qu\u2019ils </span><span class=\"f charStyle-165dec60 ps34083\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-81993cb5 ps34084\" style=\"width:169.78pt\">onstituent une couverture \u00e9conomique, ne</span><span class=\"f charStyle-81993cb5 ps608\" style=\"width:1.87pt\"> </span></div><div class=\"ps14892 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps6588\" style=\"width:69.36pt\">sont pas\u00a0 d\u00e9sign\u00e9s</span><span class=\"f charStyle-165dec60 ps17538\" style=\"width:148.58pt\"> dans une relation de couverture sur le</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">plan comptable. Aussi, la variation de valeur de ces</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34086 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">d\u00e9riv\u00e9s est enregistr\u00e9e en r\u00e9sultat financier. Elle est</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34087 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement compens\u00e9e par l'impact de la r\u00e9\u00e9valuation</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps15062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des dettes et cr\u00e9ances en devises \u00e9trang\u00e8res sous-<span class=\"f ps53\"> </span></span></div><div class=\"ps15063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.11pt\">jacentes.</span><span class=\"f charStyle-165dec60 ps34088\" style=\"width:1.96pt\"> </span></div><div class=\"ps8204 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Les instruments financiers d\u00e9riv\u00e9s de change couvrant</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps8205 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">des transactions futures hautement probables,</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps9156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">g\u00e9n\u00e9ralement significatives, qui impacteront la marge<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9158 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:75.39pt\">op\u00e9rationnelle sont </span><span class=\"f charStyle-81f42323 ps34089\" style=\"width:142.59pt\">qualifi\u00e9s en comptabilit\u00e9 de couverture.</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps9159 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:86.6pt\">Dans ce cas, la variation</span><span class=\"f charStyle-165dec60 ps34090\" style=\"width:131.33pt\"> de valeur des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps8502 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">est comptabilis\u00e9e parmi les Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps9161 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">global pour la part efficace et est ensuite reprise en</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9163 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat op\u00e9rationnel d\u00e8s que l\u2019\u00e9l\u00e9ment couvert affecte ce</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps9164 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">dernier. La part inefficace est inscrite en Autres produits</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps9165 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:79.64pt\">et charges financiers.</span><span class=\"f charStyle-165dec60 ps34091\" style=\"width:1.96pt\"> </span></div><div class=\"ps34092 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Mati\u00e8res premi\u00e8res<span id=\"idf20fb0f36e04bd7bcbf452a427f3238\"></span></span></div><div class=\"ps26493 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">En principe, le Groupe applique la comptabilit\u00e9 de</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps21915 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">couverture dite de flux futurs de tr\u00e9sorerie. Les pertes et</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps21916 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">gains relatifs \u00e0 la part efficace de la couverture sont</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps21918 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">reclass\u00e9s des Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps21920 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:115.85pt\">recyclables vers la marge </span><span class=\"f charStyle-9c680f66 ps34093\" style=\"width:102.1pt\">op\u00e9rationnelle lorsque la</span><span class=\"f charStyle-9c680f66 ps16281\" style=\"width:1.93pt\"> </span></div><div class=\"ps21922 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:131.86pt\">position couverte affecte le r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34094\" style=\"width:3.71pt\">. </span><span class=\"f charStyle-53279637 ps34095\" style=\"width:82.35pt\">Les pertes et gains li\u00e9s</span><span class=\"f charStyle-53279637 ps16293\" style=\"width:1.85pt\"> </span></div><div class=\"ps21925 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:142.68pt\">\u00e0 la part inefficace sont comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps34096\" style=\"width:75.24pt\"> en Autres produits</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps21926 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">et charges financiers. Lorsqu\u2019il s\u2019av\u00e8re qu\u2019une transaction</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps34097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">pr\u00e9vue n\u2019est plus hautement probable, le montant des</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps18500 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:169.45pt\">gains et pertes accumul\u00e9s dans les Autres </span><span class=\"f charStyle-9c680f66 ps34098\" style=\"width:48.48pt\">\u00e9l\u00e9ments du</span><span class=\"f charStyle-9c680f66 ps16299\" style=\"width:1.93pt\"> </span></div><div class=\"ps34100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:201.24pt\">r\u00e9sultat global est imm\u00e9diatement comptabilis\u00e9</span><span class=\"f charStyle-165dec60 ps34099\" style=\"width:16.72pt\"> en</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps34101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:139.81pt\">Autres produits et charges financiers.</span></div><div class=\"ps34102 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">Taux d'int\u00e9r\u00eat<span id=\"i60e93ba8fb2c4947be596f26c0edd2b9\"></span></span></div><div class=\"ps13247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 se prot\u00e9ger contre les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps13248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">variations de flux relatives aux paiements des int\u00e9r\u00eats</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">d'un emprunt \u00e0 taux variables. Cette couverture est</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps6314 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">\u00e9ligible \u00e0 la comptabilit\u00e9 de couverture dite de flux de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps6315 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:61.87pt\">tr\u00e9sorerie futurs.</span></div><div class=\"ps17365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">L\u2019instrument de couverture est \u00e9valu\u00e9 \u00e0 sa juste valeur et</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.99pt\">comptabilis\u00e9 dans l\u2019\u00e9tat de la situation financi\u00e8re.</span><span class=\"f charStyle-4afdd138 ps16296\" style=\"width:1.9pt\"> </span></div><div class=\"ps17367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:41.44pt\">Lorsqu'une</span><span class=\"f charStyle-165dec60 ps31596\" style=\"width:176.54pt\"> relation de couverture de flux futurs de</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17370 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:64.41pt\">tr\u00e9sorerie a \u00e9t\u00e9 d</span><span class=\"f charStyle-81f42323 ps34103\" style=\"width:153.51pt\">\u00e9sign\u00e9e, les variations de cette juste valeur</span><span class=\"f charStyle-81f42323 ps16293\" style=\"width:1.78pt\"> </span></div><div class=\"ps17375 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:63.83pt\">sont enregistr\u00e9es</span><span class=\"f charStyle-165dec60 ps843\" style=\"width:154.15pt\"> en Autres \u00e9l\u00e9ments du r\u00e9sultat global</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps17376 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:100.47pt\">pour la part efficace et </span><span class=\"f charStyle-81f42323 ps34104\" style=\"width:117.51pt\">en Autres produits et charges</span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> </span></div><div class=\"ps17377 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:116.9pt\">financiers au compte de r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps34105\" style=\"width:101.07pt\"> pour la part inefficace. Les</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps17378 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">montants accumul\u00e9s en Autres \u00e9l\u00e9ments du r\u00e9sultat</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17379 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.99pt\">global au titre de la part efficace de la\u00a0couverture sont</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps17380 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">repris en r\u00e9sultat au fur et \u00e0 mesure de la</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps17382 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:4.22pt\">c</span><span class=\"f charStyle-5064d44f ps6329\" style=\"width:213.75pt\">omptabilisation des charges d\u2019int\u00e9r\u00eats de l\u2019emprunt</span><span class=\"f charStyle-5064d44f ps16278\" style=\"width:1.89pt\"> </span></div><span class=\"f charStyle-5064d44f ps448\" style=\"width:29.62pt\">couvert.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-527": {
   "value": "<div class=\"ps34314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.1<span id=\"ie16a3f3bf3e8401cb4ae518ccdeafc12\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps19284\"><span style=\"display:inline-block;height:8.22pt;width:9.44pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de change</span></span></div><div class=\"ps34315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de change op\u00e9rationnel<span id=\"i2bbd139a823b4a69bb4a56a91ca93d4e\"></span></span></div><div class=\"ps34316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Les filiales du Groupe sont expos\u00e9es au risque de change</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dans le cadre de leurs activit\u00e9s industrielles et commerciales.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Ces risques et les couvertures aff\u00e9rentes sont suivis par la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:211.94pt\">Direction du Financement et de la Tr\u00e9sorerie du Groupe.</span><span class=\"f charStyle-165dec60 ps34319\" style=\"width:1.96pt\"> </span></div><div class=\"ps34321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">L\u2019exposition bilantielle (cr\u00e9ances et dettes non financi\u00e8res</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">inscrites au bilan en devises \u00e9trang\u00e8res) est couverte de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">fa\u00e7on syst\u00e9matique. Les couvertures des filiales sont</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">r\u00e9alis\u00e9es principalement aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re Valeo, qui</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">\u00e0 son tour couvre les positions nettes du Groupe aupr\u00e8s de</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:56.49pt\"><span style=\"background-color:inherit\">contreparties </span></span><span class=\"f charStyle-b26c2267 ps27780\" style=\"width:172.83pt\"><span style=\"background-color:inherit\">externes. Les produits d\u00e9riv\u00e9s de change</span></span><span class=\"f charStyle-b26c2267 ps431\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:88.96pt\"><span style=\"background-color:inherit\">correspondants n'\u00e9tant</span></span><span class=\"f charStyle-68ecf294 ps34327\" style=\"width:140.35pt\"><span style=\"background-color:inherit\"> pas d\u00e9sign\u00e9s dans une relation de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">couverture comptable sont qualifi\u00e9s d\u2019instruments de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19438 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps275\" style=\"width:30.37pt\"><span style=\"background-color:inherit\">trading </span></span><span class=\"f charStyle-68ecf294 ps34330\" style=\"width:110.3pt\"><span style=\"background-color:inherit\">d'un point de vue comptable.</span></span><span class=\"f charStyle-68ecf294 ps12083\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le Groupe couvre \u00e9galement sa marge op\u00e9rationnelle</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">contre le risque de change, sur un horizon budg\u00e9taire de</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">fa\u00e7on r\u00e9guli\u00e8re et sur un horizon contractuel de fa\u00e7on</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:111.94pt\"><span style=\"background-color:inherit\">exceptionnelle pour des c</span></span><span class=\"f charStyle-5bbe5a0c ps27771\" style=\"width:117.34pt\"><span style=\"background-color:inherit\">ontrats pr\u00e9cis significatifs. Les</span></span><span class=\"f charStyle-5bbe5a0c ps610\" style=\"width:1.66pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5bbe5a0c ps275\" style=\"width:143.23pt\"><span style=\"background-color:inherit\">principaux instruments de couverture </span></span><span class=\"f charStyle-68ecf294 ps34335\" style=\"width:86.05pt\"><span style=\"background-color:inherit\">auxquels le Groupe a</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:170.69pt\"><span style=\"background-color:inherit\">habituellement recours sont les achats et </span></span><span class=\"f charStyle-6b8e39ee ps34337\" style=\"width:58.64pt\"><span style=\"background-color:inherit\">ventes \u00e0 terme</span></span><span class=\"f charStyle-6b8e39ee ps412\" style=\"width:1.81pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6b8e39ee ps275\" style=\"width:216.7pt\"><span style=\"background-color:inherit\">fermes en devises. Dans ce cas, le Groupe applique</span></span><span class=\"f charStyle-68ecf294 ps34339\" style=\"width:12.6pt\"><span style=\"background-color:inherit\"> la</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:205.3pt\"><span style=\"background-color:inherit\">comptabilit\u00e9 de couverture de flux futurs de tr\u00e9sorerie.</span></span></div><div class=\"ps13143 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">Elle est d\u00e9termin\u00e9e par la technique de valorisation</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps13144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">suivante\u00a0: les flux de tr\u00e9sorerie futurs sont calcul\u00e9s en</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">utilisant les cours de change \u00e0 terme \u00e0 la date de cl\u00f4ture, et</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">sont actualis\u00e9s au taux d\u2019int\u00e9r\u00eat de la devise de valorisation.</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:177.36pt\"><span style=\"background-color:inherit\">Cette technique de valorisation est de niveau 2.</span></span></div><div class=\"ps5148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">Au </span></span><span class=\"f charStyle-165dec60 ps34342\" style=\"width:67.74pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps31597\" style=\"width:149.08pt\"><span style=\"background-color:inherit\">, la part inefficace li\u00e9e \u00e0 ces couvertures</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps5149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:173.68pt\"><span style=\"background-color:inherit\">est n\u00e9gligeable, comme au 31 d\u00e9cembre 2024.</span></span><span class=\"f charStyle-68ecf294 ps34343\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34344 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de change financier<span class=\"f ps53\"> </span><span id=\"ifa9c8a40627c475c9caa305c6b1a9456\"></span></span></div><div class=\"ps34345 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">La centralisation des exc\u00e9dents de tr\u00e9sorerie, les besoins de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">financement des filiales \u00e9trang\u00e8res et certaines op\u00e9rations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.54pt\">de </span><span class=\"f charStyle-81f42323 ps34347\" style=\"width:215.72pt\">financement exposent le Groupe \u00e0 un risque de change</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps34350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:31.25pt\">financier</span><span class=\"f charStyle-165dec60 ps34349\" style=\"width:198.07pt\"> (risque li\u00e9 \u00e0 la variation de valeur de dettes ou de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.15pt\">cr\u00e9ances </span><span class=\"f charStyle-81f42323 ps34351\" style=\"width:192.16pt\">financi\u00e8res libell\u00e9es en devises autres que la devise</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps34354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:47.16pt\">fonctionnelle</span><span class=\"f charStyle-165dec60 ps34353\" style=\"width:182.11pt\"> de l\u2019entit\u00e9 emprunteuse ou pr\u00eateuse). Ce risque</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps7248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.41pt\">de change est couvert essentiellement via des </span><span class=\"f charStyle-e8054d08 ps34355\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34356\" style=\"width:13.84pt\"> de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps7249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.12pt\">devises.</span></div><div class=\"ps34357 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe finance usuellement ses filiales dans leurs propres</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34358 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:229.31pt\">devises et se couvre syst\u00e9matiquement contre le risque de</span><span class=\"f charStyle-b2f078f6 ps460\" style=\"width:1.83pt\"> </span></div><div class=\"ps34360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:27.66pt\">change</span><span class=\"f charStyle-165dec60 ps34359\" style=\"width:55.01pt\"> qui en r\u00e9sulte.</span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Par ailleurs, les financements externes du Groupe sont, en</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">r\u00e8gle g\u00e9n\u00e9rale, libell\u00e9s en euros, notamment pour les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:211.55pt\">\u00e9missions obligataires sous programme EMTN (</span><span class=\"f charStyle-e8054d08 ps34361\" style=\"width:17.75pt\">Euro</span><span class=\"f charStyle-e8054d08 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:73.83pt\">Medium Term Note</span><span class=\"f charStyle-165dec60 ps34362\" style=\"width:4.05pt\">).</span></div><div class=\"ps34363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le gain latent de 2 millions d\u2019euros porte principalement sur</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:13.69pt\"><span style=\"background-color:inherit\">les </span></span><span class=\"f charStyle-bec71f61 ps34364\" style=\"width:24.07pt\"><span style=\"background-color:inherit\">swaps</span></span><span class=\"f charStyle-68ecf294 ps34365\" style=\"width:191.51pt\"><span style=\"background-color:inherit\"> de devises relatifs aux couvertures des comptes</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:124.82pt\"><span style=\"background-color:inherit\">courants et bancaires du Groupe.</span></span></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition nette globale du Groupe<span id=\"i7f965bab3bbe488b8bb37f2d597fd955\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:272.27pt\">L\u2019exposition nette globale du Groupe (sur les positions bilantielles) au </span><span class=\"f charStyle-81993cb5 ps34368\" style=\"width:69.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81993cb5 ps34369\" style=\"width:139.42pt\">, bas\u00e9e sur les montants notionnels,</span><span class=\"f charStyle-81993cb5 ps1722\" style=\"width:1.87pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:47.45pt\">se\u00a0concentre</span><span class=\"f charStyle-165dec60 ps29032\" style=\"width:290.35pt\"> sur les principales devises suivantes (hors devises fonctionnelles des entit\u00e9s)\u00a0:</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss2150\"><div><div class=\"ps9316 ss2149\"><span class=\"f charStyle-6bef0edd ps34370\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34373 ss2151\"><div><div class=\"ps9316 ss970\"><span class=\"f charStyle-98f46611 ps34371\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34372\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9317 ss2152\"><div><div class=\"ps34374 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34375 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps28834\">USD<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34376 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps9334\">CNY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34377 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps29149\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34378 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps23388\">JPY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34379 ss2153\"><div><div class=\"ps9319 ss208\"><span class=\"f charStyle-6bef0edd ps16616\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps32314\">devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34381 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps34380\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34383 ss2154\"><div><div class=\"ps9321 ss970\"><span class=\"f charStyle-ae6044e9 ps34382\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34384 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs commerciaux expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34386 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.88pt\"></span></span><span class=\"ps34385\">(141)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34388 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.26pt\"></span></span><span class=\"ps34387\">(97)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34389 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.01pt\"></span></span><span class=\"ps30894\">(267)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34390 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.2pt\"></span></span><span class=\"ps31002\">(28)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34391 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.97pt\"></span></span><span class=\"ps31180\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34392 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">(552)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34394 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.3pt\"></span></span><span class=\"ps34393\">(587)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs financiers expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34395 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">(416)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34396 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.43pt\"></span></span><span class=\"ps24061\">(1\u00a0313)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34397 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">49<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34398 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">(153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34399 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">720<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34401 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.95pt\"></span></span><span class=\"ps34400\">(1\u00a0113)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34402 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.82pt\"></span></span><span class=\"ps30659\">(1\u00a0832)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE BRUTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34403 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.45pt\"></span></span><span class=\"ps33612\">(557)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25916 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.77pt\"></span></span><span class=\"ps34404\">(1\u00a0410)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34405 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.71pt\"></span></span><span class=\"ps11374\">(218)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34406 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.19pt\"></span></span><span class=\"ps3626\">(181)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34408 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.01pt\"></span></span><span class=\"ps34407\">701<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34410 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.96pt\"></span></span><span class=\"ps34409\">(1\u00a0665)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34412 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.11pt\"></span></span><span class=\"ps34411\">(2\u00a0419)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10856 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s de change </span><span class=\"f charStyle-4da12822 ps34413\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34414 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.94pt\"></span></span><span class=\"ps14346\">549<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34416 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.47pt\"></span></span><span class=\"ps34415\">1\u00a0386<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34417 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.23pt\"></span></span><span class=\"ps10533\">(38)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34418 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">177<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34419 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.17pt\"></span></span><span class=\"ps23605\">(741)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34420 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.37pt\"></span></span><span class=\"ps4556\">1\u00a0333<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34422 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.81pt\"></span></span><span class=\"ps34421\">2\u00a0200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34423 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE NETTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34425 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.07pt\"></span></span><span class=\"ps34424\">(8)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34426 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.44pt\"></span></span><span class=\"ps11138\">(24)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34428 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.37pt\"></span></span><span class=\"ps34427\">(256)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34429 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.86pt\"></span></span><span class=\"ps3374\">(4)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34431 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.77pt\"></span></span><span class=\"ps34430\">(40)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34433 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.72pt\"></span></span><span class=\"ps34432\">(332)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34434 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.39pt\"></span></span><span class=\"ps29596\">(219)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.07pt\">hors instruments d\u00e9riv\u00e9s de couverture de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34439 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:53.56pt\">au 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34438\" style=\"width:15.97pt\">2024</span></div><div class=\"ps34440 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.18pt\">Dans le tableau ci-dessus, la colonne libell\u00e9e EUR correspond \u00e0 l\u2019exposition nette euro des entreprises du Groupe dont la</span><span class=\"f charStyle-165dec60 ps1225\" style=\"width:1.96pt\"> </span></div><div class=\"ps34441 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro. Il existe notamment une exposition des filiales localis\u00e9es en Europe centrale et dans le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:281.57pt\">bassin m\u00e9diterran\u00e9en, qui se financent en euros aupr\u00e8s de la soci\u00e9t\u00e9 Valeo.</span><span class=\"f charStyle-165dec60 ps19744\" style=\"width:1.96pt\"> </span></div><div class=\"ps34443 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-ebecb6c1 ps275\">Analyse de sensibilit\u00e9 de l\u2019exposition nette au risque de change<span id=\"id807047dcfdb40f4ab8040cb86a3265b\"></span></span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.18pt\"><span style=\"background-color:inherit\">Les cours de change retenus pour le dollar am\u00e9ricain, pour le yen japonais et pour le renminbi chinois s\u2019\u00e9tablissent</span></span><span class=\"f charStyle-68ecf294 ps1225\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:209.44pt\"><span style=\"background-color:inherit\">respectivement pour 1 euro \u00e0 1,175, 184,09 et 8,2262 au\u00a0</span></span><span class=\"f charStyle-165dec60 ps27923\" style=\"width:68.84pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34444\" style=\"width:202.97pt\"><span style=\"background-color:inherit\"> contre 1,0389 pour le dollar am\u00e9ricain, 163,06 pour le</span></span><span class=\"f charStyle-68ecf294 ps719\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:189.02pt\"><span style=\"background-color:inherit\">yen japonais et 7,5833 pour le renminbi chinois au </span></span><span class=\"f charStyle-165dec60 ps34445\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps34446\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:151.5pt\">Une appr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps34447\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34448\" style=\"width:26.39pt\"> et au </span><span class=\"f charStyle-165dec60 ps34449\" style=\"width:70.49pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps34450\" style=\"width:163.11pt\"> par rapport \u00e0 ces devises aurait les effets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:293.04pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34462 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps10311 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-98f46611 ps25704\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34452\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2157\"><div><div class=\"ps16333 ss666\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10314 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps8015 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-873f2209 ps34454\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-98f46611 ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-d93fd2c0 ps34454\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32820 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34455 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au yen japonais<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32827 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34456 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.15pt\"></span></span><span class=\"ps34457\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-044fe383 ps10\">Exposition au renminbi chinois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32835 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34458 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.16pt\"></span></span><span class=\"ps28393\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition \u00e0 l'euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32844 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.91pt\"></span></span><span class=\"ps27904\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34459 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.14pt\"></span></span><span class=\"ps27880\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11367 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32852 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.12pt\"></span></span><span class=\"ps34460\">(22)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34461 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">(3)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(19)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.55pt\"></span></span><span class=\"ps11842\">(5)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">les chiffres pr\u00e9sent\u00e9s correspondent \u00e0 la sensibilit\u00e9 des autres \u00e9l\u00e9ments du r\u00e9sultat global li\u00e9e \u00e0 une \u00e9volution des instruments de couverture</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps34464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:125.23pt\">de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34465 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:69.53pt\">au 31 d\u00e9cembre 2024</span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Pour les besoins de ces analyses, toutes les autres variables,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">en particulier les taux d\u2019int\u00e9r\u00eats, sont suppos\u00e9es rester</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.01pt\">Une d\u00e9pr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps9638\" style=\"width:68.38pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34468\" style=\"width:14.92pt\"> par</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">rapport \u00e0 ces devises aurait l\u2019effet inverse en faisant</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">l\u2019hypoth\u00e8se que toutes les autres variables restent</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps19803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les effets des variations des taux de change sur la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">conversion en euro du montant des actifs nets sont refl\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:180.96pt\">dans les capitaux propres consolid\u00e9s du Groupe.</span></div><div class=\"ps12401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">De nombreuses entit\u00e9s du Groupe sont situ\u00e9es hors de la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34469 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">zone euro. La devise de pr\u00e9sentation des \u00e9tats financiers de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34470 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Valeo \u00e9tant l'euro, les \u00e9tats financiers de ses filiales sont</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34471 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">convertis en euros pour la pr\u00e9paration des \u00e9tats financiers</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34472 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">consolid\u00e9s. Dans le cadre de sa gestion du risque de change,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">le Groupe consid\u00e8re que ses investissements dans ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s \u00e9trang\u00e8res sont permanents. Les effets des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">fluctuations des taux de change sur la conversion des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps18064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">montants nets des actifs en euros sont refl\u00e9t\u00e9s dans la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps18065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:147.83pt\">situation nette consolid\u00e9e de la soci\u00e9t\u00e9.</span></div><div class=\"ps34473 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Par ailleurs, les op\u00e9rations de financements entre deux</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">entit\u00e9s du Groupe ayant des devises fonctionnelles</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">diff\u00e9rentes sont de nature \u00e0\u00a0 exposer le r\u00e9sultat de Valeo au</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">risque de change. Pour se pr\u00e9munir contre ce risque, le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe peut \u00eatre amen\u00e9 \u00e0 contracter des instruments</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u00e9riv\u00e9s. Les op\u00e9rations de financement intragroupes faisant</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps15322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l\u2019objet d\u2019une \u00e9limination dans les comptes consolid\u00e9s du</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps15323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Groupe, les variations de valeur de ces instruments de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">couverture sont susceptibles d\u2019avoir une incidence sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps15325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:112.38pt\">l\u2019endettement net du Groupe.</span><span class=\"f charStyle-165dec60 ps34479\" style=\"width:1.96pt\"> </span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s de change<span id=\"ifd1a9b59195e44118cc2cd75d31ddeef\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.33pt\">Les cours de cl\u00f4ture de la Banque centrale europ\u00e9enne (BCE) et les taux <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps34480\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps34481\" style=\"width:13.92pt\"> au </span><span class=\"f charStyle-165dec60 ps34482\" style=\"width:68pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34483\" style=\"width:92.95pt\"> ont \u00e9t\u00e9 retenus pour les</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.9pt\">instruments financier</span><span class=\"f charStyle-68ecf294 ps34484\" style=\"width:76.2pt\"><span style=\"background-color:inherit\">s relatifs au change :</span></span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></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><td style=\"padding:0;width:44.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34489 ss2158\"><div><div class=\"ps34486 ss1241\"><span class=\"f charStyle-6bef0edd ps34485\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss1241\"><span class=\"f charStyle-6bef0edd ps34487\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps32073 ss1461\"><div><div class=\"ps509 ss1458\"><span class=\"f charStyle-6bef0edd ps34490\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps23157 ss2159\"><div><div class=\"ps34488 ss387\"><span class=\"f charStyle-6bef0edd ps29952\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34491 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps11418\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34493 ss2161\"><div><div class=\"ps509 ss2160\"><span class=\"f charStyle-ae6044e9 ps34492\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps18555 ss1338\"><div><div class=\"ps509 ss1241\"><span class=\"f charStyle-ae6044e9 ps4515\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2163\"><div><div class=\"ps16333 ss2162\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34494 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps14424\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34495 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34298\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13681 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34496\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34497 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps10154\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34499 ss1291\"><div><div class=\"ps509 ss1241\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps34498\">2031</span><span class=\"f charStyle-98f46611 ps28741\"> et </span></div><div class=\"ps523 ss1241\"><span class=\"f charStyle-98f46611 ps16621\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2164\"><div><div class=\"ps15656 ss2162\"><span class=\"f charStyle-044fe383 ps10\">Contrats de change \u00e0 </span></div><div class=\"ps13845 ss2162\"><span class=\"f charStyle-044fe383 ps10\">terme utilis\u00e9s comme </span></div><div class=\"ps15657 ss2162\"><span class=\"f charStyle-044fe383 ps10\">couverture\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16837 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34500 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.97pt\"></span></span><span class=\"ps9752\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34502 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.7pt\"></span></span><span class=\"ps34501\">53<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34503 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.21pt\"></span></span><span class=\"ps26757\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34505 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34506 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34507 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34508 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34509 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34510 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34511 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34512 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34513 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34514 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34515 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34516 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34518 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.39pt\"></span></span><span class=\"ps34517\">(9)</span></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss2169\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-373e86b9 ps10\">Swaps</span><span class=\"f charStyle-044fe383 ps9416\"> de devise utilis\u00e9s </span></div><div class=\"ps34519 ss2162\"><span class=\"f charStyle-044fe383 ps10\">comme couverture :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26205 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34520 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34521 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34522 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34523 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34524 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34525 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34526 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34527 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.15pt\"></span></span><span class=\"ps10935\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34529 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34530 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34531 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34532 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34533 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34534 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34535 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34536 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.03pt\"></span></span><span class=\"ps358\">(13)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34537 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.2<span id=\"ied6f756cc13447c88d404fc067ae2977\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps21101\"><span style=\"display:inline-block;height:8.22pt;width:7.76pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s mati\u00e8res </span></span></div><div class=\"ps34538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">(m\u00e9taux\u00a0non\u00a0ferreux)</span></div><div class=\"ps34539 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de mati\u00e8res premi\u00e8res<span id=\"i5e94a017c5bf4069a11a3c272f74f99a\"></span></span></div><div class=\"ps633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe g\u00e8re son exposition aux mati\u00e8res premi\u00e8res en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">mettant en place, chaque fois que cela est possible, des</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4042 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.8pt\">clauses </span><span class=\"f charStyle-81f42323 ps34540\" style=\"width:197.47pt\">d\u2019indexation de ses prix de vente dans les contrats</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps4044 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:51.47pt\">commerciaux.</span><span class=\"f charStyle-165dec60 ps34541\" style=\"width:177.86pt\"> C\u2019est notamment le cas pour les m\u00e9taux non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">ferreux et l\u2019acier pour lesquels ces clauses couvrent plus de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4049 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:73.47pt\">80% de l\u2019exposition.</span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">L\u2019exposition aux m\u00e9taux non ferreux, cot\u00e9s principalement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.6pt\">sur le </span><span class=\"f charStyle-e8054d08 ps34542\" style=\"width:101.5pt\">London Metal Exchange </span><span class=\"f charStyle-165dec60 ps34543\" style=\"width:64.03pt\">(LME) et sur le </span><span class=\"f charStyle-e8054d08 ps34544\" style=\"width:37.12pt\">Shanghai</span><span class=\"f charStyle-e8054d08 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:71.68pt\">Futures Exchange</span><span class=\"f charStyle-165dec60 ps11708\" style=\"width:157.63pt\">, ainsi que, dans une moindre mesure,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">l'exposition au propyl\u00e8ne, sont couvertes aupr\u00e8s de banques</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de premier rang au travers d\u2019instruments d\u00e9riv\u00e9s de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">couverture. L\u2019objet de ces couvertures est de limiter l\u2019impact</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">des variations de prix de ces mati\u00e8res premi\u00e8res sur les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9sultats du Groupe et d\u2019offrir le temps n\u00e9cessaire \u00e0 Valeo</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">pour n\u00e9gocier en cons\u00e9quence des hausses de prix aupr\u00e8s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34548 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">de ses clients.\u00a0Les expositions r\u00e9sultant d\u2019indexations des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">prix de vente sur des p\u00e9riodes diff\u00e9rentes de celles pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps11996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">dans les contrats achats de mati\u00e8res premi\u00e8res font</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps11997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:126.11pt\">\u00e9galement l\u2019objet de couvertures.</span></div><div class=\"ps34550 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Les couvertures sont r\u00e9alis\u00e9es via des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">sans livraison de sous-jacent physique (essentiellement des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps12000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34552\" style=\"width:205.23pt\"> sur le cours moyen mensuel). Ces op\u00e9rations sont</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps12001 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">qualifi\u00e9es de couvertures de flux de tr\u00e9sorerie au sens de la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.35pt\">norme IFRS 9.</span></div><div class=\"ps29481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">L\u2019acier, la plupart des plastiques et les terres rares ne</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">peuvent pas faire l\u2019objet de couvertures \u00e0 terme sur les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">march\u00e9s financiers car ces mati\u00e8res ne sont pas cot\u00e9es sur</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.33pt\">un march\u00e9 organis\u00e9.</span></div><div class=\"ps29488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">La part relative des stocks dans l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps21741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">financi\u00e8re du Groupe est peu influenc\u00e9e par la variation du</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">prix des mati\u00e8res premi\u00e8res compte tenu de leur rotation</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">rapide et de l\u2019optimisation des flux logistiques qui en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.3pt\">r\u00e9duisent le montant.</span></div><div class=\"ps16325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.76pt\">Les volumes couverts de m\u00e9taux non ferreux en fin de p\u00e9riode s\u2019\u00e9tablissent aux </span><span class=\"f charStyle-165dec60 ps34555\" style=\"width:70.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34556\" style=\"width:14.55pt\"> et </span><span class=\"f charStyle-165dec60 ps34557\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34558\" style=\"width:58.02pt\"> de la mani\u00e8re</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34559 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante\u00a0:</span></div><div class=\"ps34568 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en tonnes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Aluminium<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">41\u00a0213<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.05pt\"></span></span><span class=\"ps34561\">44\u00a0483<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aluminium 2</span><span class=\"f charStyle-4da12822 ps34562\"><sup>e</sup></span><span class=\"f charStyle-044fe383 ps34563\"> fusion</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">10\u00a0513<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.86pt\"></span></span><span class=\"ps34564\">9\u00a0600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cuivre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.5pt\"></span></span><span class=\"ps34565\">10\u00a0309<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.47pt\"></span></span><span class=\"ps34566\">11\u00a0326<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.13pt\"></span></span><span class=\"ps34567\">62\u00a0035<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.03pt\"></span></span><span class=\"ps24079\">65\u00a0409<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Les produits d\u00e9riv\u00e9s sur m\u00e9taux de base utilis\u00e9s par le</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:36.01pt\"><span style=\"background-color:inherit\">Groupe s</span></span><span class=\"f charStyle-b26c2267 ps34569\" style=\"width:193.25pt\"><span style=\"background-color:inherit\">ont qualifi\u00e9s de couverture de flux de tr\u00e9sorerie.</span></span><span class=\"f charStyle-b26c2267 ps410\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:56.36pt\"><span style=\"background-color:inherit\">Pour l\u2019exercice </span></span><span class=\"f charStyle-68ecf294 ps34570\" style=\"width:28.13pt\"><span style=\"background-color:inherit\">clos au </span></span><span class=\"f charStyle-165dec60 ps34571\" style=\"width:67.62pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34572\" style=\"width:77.19pt\"><span style=\"background-color:inherit\">, un gain latent de 15</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">millions d'euros li\u00e9 aux couvertures en place est comptabilis\u00e9</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.95pt\"><span style=\"background-color:inherit\">dans les Autres \u00e9l\u00e9ments du r\u00e9sultat global.</span></span></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">La perte latente de 3 millions d\u2019euros comptabilis\u00e9e dans les</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:156.71pt\">Autres \u00e9l\u00e9ments du r\u00e9sultat global au </span><span class=\"f charStyle-165dec60 ps34573\" style=\"width:72.61pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">relatif aux couvertures en place a \u00e9t\u00e9 enti\u00e8rement reclass\u00e9e</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.94pt\">en r\u00e9sultat op\u00e9rationnel en </span><span class=\"f charStyle-165dec60 ps34574\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34575\" style=\"width:1.59pt\">.</span></div><div class=\"ps34576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 des couvertures en vie au 31 d\u00e9cembre 2025 <span id=\"i97288b4385f944e49abf2157435a6ea3\"></span></span></div><div class=\"ps34579 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:207.87pt\">Une hausse de 10\u00a0% des cours \u00e0 terme des m\u00e9taux aux </span><span class=\"f charStyle-49b068b5 ps13902\" style=\"width:67.04pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-49b068b5 ps34577\" style=\"width:12.27pt\"> et </span><span class=\"f charStyle-49b068b5 ps4176\" style=\"width:18.01pt\">2024</span><span class=\"f charStyle-49b068b5 ps34578\" style=\"width:176.07pt\"> aurait les impacts suivants sur le r\u00e9sultat et les</span><span class=\"f charStyle-49b068b5 ps689\" style=\"width:1.86pt\"> </span></div><div class=\"ps34581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:33.29pt\">capitaux </span><span class=\"f charStyle-165dec60 ps34580\" style=\"width:85.56pt\">propres, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34588 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:90pt\"></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:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps3695 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps11003\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34582 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps10032\">Gains/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2020\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une hausse de 10 % </span></div><div class=\"ps748 ss762\"><span class=\"f charStyle-044fe383 ps10\">des\u00a0cours \u00e0 terme des m\u00e9taux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34584 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34586 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:77.21pt\"></span></span><span class=\"ps34585\">12<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16366 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.5pt\"></span></span><span class=\"ps34587\">10<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:375.05pt\">, une baisse de 10 % des cours \u00e0 terme des m\u00e9taux aurait un impact d\u00e9favorable du m\u00eame montant.</span></div><div class=\"ps34591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:353.5pt\">Pour les besoins de cette analyse, toutes les autres variables sont suppos\u00e9es rester constantes.</span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s mati\u00e8res<span id=\"i5d6c314b0abd4d5091fcf36884542372\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:79.4pt\">Les cours \u00e0 terme du </span><span class=\"f charStyle-8ab43435 ps34592\" style=\"width:91.01pt\">London Metal Exchange</span><span class=\"f charStyle-53279637 ps34593\" style=\"width:37.06pt\"> (LME) du </span><span class=\"f charStyle-53279637 ps34594\" style=\"width:66.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-53279637 ps34595\" style=\"width:207.67pt\"> ont \u00e9t\u00e9 utilis\u00e9s pour \u00e9tablir les \u00e9ch\u00e9ances contractuelles</span><span class=\"f charStyle-53279637 ps455\" style=\"width:1.85pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:30.27pt\">relatives</span><span class=\"f charStyle-165dec60 ps13762\" style=\"width:82.9pt\"> aux d\u00e9riv\u00e9s mati\u00e8res :</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:66pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32207 ss2172\"><div><div class=\"ps34486 ss2067\"><span class=\"f charStyle-6bef0edd ps25857\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss2067\"><span class=\"f charStyle-6bef0edd ps34596\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps13831 ss2174\"><div><div class=\"ps509 ss2173\"><span class=\"f charStyle-6bef0edd ps34597\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9972 ss2175\"><div><div class=\"ps34488 ss637\"><span class=\"f charStyle-6bef0edd ps13199\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34599 ss2176\"><div><div class=\"ps9325 ss637\"><span class=\"f charStyle-ae6044e9 ps34598\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34601 ss2178\"><div><div class=\"ps509 ss2177\"><span class=\"f charStyle-ae6044e9 ps34600\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34582 ss1116\"><div><div class=\"ps509 ss637\"><span class=\"f charStyle-ae6044e9 ps10060\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34603 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34602\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34604 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps3800\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34606 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34605\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34608 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34607\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss638\"><div><div class=\"ps509 ss637\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps17690\">2031</span><span class=\"f charStyle-98f46611 ps34609\"> et </span></div><div class=\"ps523 ss637\"><span class=\"f charStyle-98f46611 ps400\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s mati\u00e8res :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34610 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.05pt\"></span></span><span class=\"ps30356\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34612 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34613 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34614 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34615 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34616 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34617 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34618 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34620 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.45pt\"></span></span><span class=\"ps34619\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34622 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34623 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34624 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34625 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34626 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34627 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34628 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34630 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.3<span id=\"i3b53baccdf014b5d95fd02b7048bdcc7\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34629\"><span style=\"display:inline-block;height:8.22pt;width:7.74pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de taux d\u2019int\u00e9r\u00eats</span></span></div><div class=\"ps34631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de taux d\u2019int\u00e9r\u00eats<span id=\"ia2409fd65f9048dc93cab92c5820a734\"></span></span></div><div class=\"ps872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:113.58pt\">Le Groupe peut utiliser des </span><span class=\"f charStyle-bed55b1c ps34632\" style=\"width:23.72pt\">swaps</span><span class=\"f charStyle-5064d44f ps34633\" style=\"width:91.97pt\"> de taux d\u2019int\u00e9r\u00eat pour</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps873 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:44.9pt\">convertir le </span><span class=\"f charStyle-165dec60 ps20548\" style=\"width:184.35pt\">taux contractuel de la dette en un taux variable</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps874 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.05pt\">ou fixe. La </span><span class=\"f charStyle-81f42323 ps22029\" style=\"width:189.21pt\">tr\u00e9sorerie et les \u00e9quivalents de tr\u00e9sorerie sont plac\u00e9s</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps875 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.31pt\">aussi bien \u00e0 taux fixe qu'\u00e0 taux variable. La dette financi\u00e8re est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:59.02pt\">majoritairement</span><span class=\"f charStyle-165dec60 ps34634\" style=\"width:62.27pt\"> \u00e0 taux fixe\u00a0: au </span><span class=\"f charStyle-165dec60 ps34635\" style=\"width:69.28pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps14259\" style=\"width:38.71pt\">, 82 % des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dettes financi\u00e8res \u00e0 long terme (part \u00e0 plus d\u2019un an) sont \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">taux fixe, ratio en augmentation par rapport \u00e0 celui de l'an</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.81pt\">dernier.</span></div><div class=\"ps2729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Une filiale japonaise du Groupe a mis en place un</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financement pour l'une de ses filiales en roupies</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps887 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">indon\u00e9siennes. Afin de se couvrir contre les risques de taux</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps888 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">et de change li\u00e9s \u00e0 ce financement, celle-ci a contract\u00e9 deux</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">cross currency swaps d'un montant notionnel de 4 milliards</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de yens japonais, adoss\u00e9s en terme de maturit\u00e9.Ces d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps16144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">ne sont pas d\u00e9sign\u00e9s dans une relation de couverture</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:110.87pt\">La tranche \u00e0 taux variable du </span><span class=\"f charStyle-e8054d08 ps34636\" style=\"width:50.59pt\">Schuldschein</span><span class=\"f charStyle-165dec60 ps34637\" style=\"width:67.8pt\"> \u00e9mis en avril 2019</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps16149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.04pt\">a </span><span class=\"f charStyle-81f42323 ps21418\" style=\"width:78.71pt\">\u00e9t\u00e9 couverte par un </span><span class=\"f charStyle-a702cc9d ps34638\" style=\"width:19.69pt\">swap</span><span class=\"f charStyle-81f42323 ps34639\" style=\"width:122.88pt\"> de taux qui \u00e9change le coupon</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps34645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.09pt\">variable</span><span class=\"f charStyle-165dec60 ps34640\" style=\"width:2.49pt\"> </span><span class=\"f charStyle-81f42323 ps34641\" style=\"width:69.71pt\">contre un taux fixe.</span><span class=\"f charStyle-81f42323 ps34642\" style=\"width:80.38pt\">\u00a0Cet instrument a \u00e9t\u00e9 </span><span class=\"f charStyle-81f42323 ps34643\" style=\"width:28.75pt\">d\u00e9sign\u00e9</span><span class=\"f charStyle-81f42323 ps34644\" style=\"width:19.82pt\"> dans</span><span class=\"f charStyle-81f42323 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:44.08pt\">une relation</span><span class=\"f charStyle-165dec60 ps34646\" style=\"width:78.76pt\"> de couverture type </span><span class=\"f charStyle-e8054d08 ps34647\" style=\"width:106.49pt\">cash-flow hedge, laquelle a</span><span class=\"f charStyle-e8054d08 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:58.14pt\">pris fin en 2025.</span></div><div class=\"ps12593 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:23.47pt\">Deux </span><span class=\"f charStyle-e8054d08 ps34648\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34649\" style=\"width:181.78pt\"> de taux d'int\u00e9r\u00eat pour un montant global de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">600\u00a0millions d'euros ont \u00e9t\u00e9 mis en place en novembre 2022</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps34651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pour variabiliser partiellement les int\u00e9r\u00eats de l'emprunt</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">EMTN de 750 millions d'euros \u00e9mis concomitamment. Ces</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">instruments ont \u00e9t\u00e9 d\u00e9sign\u00e9s dans une relation de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.36pt\">couverture de type </span><span class=\"f charStyle-e8054d08 ps1025\" style=\"width:61.61pt\">fair value hedge</span><span class=\"f charStyle-165dec60 ps34652\" style=\"width:1.59pt\">.</span></div><div class=\"ps34665 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss1944\"><div><div class=\"ps10309 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30404 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-ae6044e9 ps34653\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30405 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30407 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-373e86b9 ps10\">Swaps </span><span class=\"f charStyle-044fe383 ps31087\">de taux\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Emprunt en roupie indon\u00e9sienne </span><span class=\"f charStyle-4da12822 ps34656\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30414 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30416 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placement priv\u00e9 </span><span class=\"f charStyle-373e86b9 ps34657\">Schuldschein<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30417 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30419 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.69pt\"></span></span><span class=\"ps34658\">123<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383\"><span class=\"ps511\">EMTN \u00e9ch\u00e9ance 2027<span style=\"display:inline-block;height:7.26pt;width:27.06pt\"></span></span><span class=\"ps34659\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span><span class=\"ps34660\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30421 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30422 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.64pt\"></span></span><span class=\"ps34661\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.62pt\"></span></span><span class=\"ps34662\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30425 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.02pt\"></span></span><span class=\"ps34663\">622<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30427 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.37pt\"></span></span><span class=\"ps19146\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.13pt\"></span></span><span class=\"ps30949\">747<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.31pt\"></span></span><span class=\"ps34664\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:405.78pt\">Les nominaux des cross-currency swaps sont ceux de la jambe en JPY contre-valoris\u00e9s aux taux de change du 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34666\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps34667\" style=\"width:1.37pt\">.</span></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition n<span id=\"i545268519cd045d99c70f1f2a46a25f9\"></span></span><span class=\"f charStyle-aa33f529 ps34669\">ette du Groupe</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:481.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, la position nette du Groupe en mati\u00e8re de taux d\u2019int\u00e9r\u00eat, sur la base des valeurs nominales, s\u2019analyse</span></span><span class=\"f charStyle-61077b09 ps8343\" style=\"width:1.87pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:47.53pt\"><span style=\"background-color:inherit\">comme\u00a0suit\u00a0:</span></span></div><div class=\"ps34670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i7c1caff05389438598ff69b9c06bc3af\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps34754 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps34671\">Moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps16613\">Un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps96\">Plus de cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.71pt\"></span></span><span class=\"ps34683\">931<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.52pt\"></span></span><span class=\"ps34685\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.42pt\"></span></span><span class=\"ps16443\">3\u00a0703<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.53pt\"></span></span><span class=\"ps34687\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.83pt\"></span></span><span class=\"ps34689\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.09pt\"></span></span><span class=\"ps34692\">5\u00a0989<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.92pt\"></span></span><span class=\"ps6862\">602<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.17pt\"></span></span><span class=\"ps34694\">6\u00a0591<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Pr\u00eats<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-044fe383 ps10\">Tr\u00e9sorerie et \u00e9quivalents </span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.09pt\"></span></span><span class=\"ps34717\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE AVANT GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.56pt\"></span></span><span class=\"ps34722\">3\u00a0677<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.11pt\"></span></span><span class=\"ps34728\">5\u00a0508<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.25pt\"></span></span><span class=\"ps8726\">(1\u00a0450)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE APR\u00c8S GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.24pt\"></span></span><span class=\"ps34744\">3\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.03pt\"></span></span><span class=\"ps34746\">1\u00a0002<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.1pt\"></span></span><span class=\"ps34750\">4\u00a0908<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.52pt\"></span></span><span class=\"ps22390\">(850)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"iaa49409005a24d068ec1a1aab477abbb\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps34769 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps34671\"><span style=\"background-color:inherit\">Moins d'un an</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps16613\"><span style=\"background-color:inherit\">Un \u00e0 cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps96\"><span style=\"background-color:inherit\">Plus de cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-ae837db4 ps10\"><span style=\"background-color:inherit\">(en millions d'euros)</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Passifs financiers</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.31pt\"></span></span><span class=\"ps34756\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0910</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.78pt\"></span></span><span class=\"ps25365\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">272</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:11.14pt\"></span></span><span class=\"ps34757\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0413</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:10.05pt\"></span></span><span class=\"ps34758\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.8pt\"></span></span><span class=\"ps16452\">6\u00a0413<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\">649<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.05pt\"></span></span><span class=\"ps11361\">7\u00a0062<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Pr\u00eats</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(25)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Int\u00e9r\u00eats courus</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(32)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">Tr\u00e9sorerie et \u00e9quivalents </span></span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">de\u00a0tr\u00e9sorerie</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(788)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0365)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\">(788)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\">(2\u00a0365)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.39pt\"></span></span><span class=\"ps399\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE AVANT GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.85pt\"></span></span><span class=\"ps34763\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0093</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.29pt\"></span></span><span class=\"ps32226\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0388</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.95pt\"></span></span><span class=\"ps23575\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.43pt\"></span></span><span class=\"ps34764\">5\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.6pt\"></span></span><span class=\"ps10774\">(1\u00a0716)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Instruments d\u00e9riv\u00e9s</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:17.99pt\"></span></span><span class=\"ps34765\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">122</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.03pt\"></span></span><span class=\"ps25428\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(122)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(600)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">600</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.59pt\"></span></span><span class=\"ps34766\">(478)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.55pt\"></span></span><span class=\"ps4561\">478<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE APR\u00c8S GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.35pt\"></span></span><span class=\"ps26354\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0212</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.66pt\"></span></span><span class=\"ps10515\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0215)</span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.1pt\"></span></span><span class=\"ps34767\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0788</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">977</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.66pt\"></span></span><span class=\"ps34768\">5\u00a0090<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.15pt\"></span></span><span class=\"ps28900\">(1\u00a0238)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11713 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Les passifs financiers se composent principalement du nominal des dettes long terme, des financements court terme, des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps11714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.04pt\">dettes sur biens lou\u00e9s et des concours bancaires.</span></div><div class=\"ps34770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 au risque de taux<span id=\"ic9e6dd87aba1437f8fc6bf5d5d0cda90\"></span></span></div><div class=\"ps19414 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:240.37pt\">L\u2019essentiel de la dette financi\u00e8re \u00e0 long terme est \u00e0 taux fixe au </span><span class=\"f charStyle-165dec60 ps34771\" style=\"width:67.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34772\" style=\"width:173.03pt\">. Les dettes \u00e0 taux fixe comptabilis\u00e9es au co\u00fbt</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">amorti ne rentrent pas dans le calcul de la sensibilit\u00e9 au risque de taux. L\u2019exposition du Groupe au risque de taux est donc</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:158.14pt\">limit\u00e9e \u00e0\u00a0son endettement \u00e0 taux variable.</span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">Ainsi une hausse instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat appliqu\u00e9e aux actifs et passifs financiers \u00e0 taux variable aurait les impacts</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:466.13pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, apr\u00e8s prise en compte des produits d\u00e9riv\u00e9s et avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34789 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:177.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34774 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-6bef0edd ps28487\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34775 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-ae6044e9 ps29910\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2186\"><div><div class=\"ps16333 ss2185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34777 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34780 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34781 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34782 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2188\"><div><div class=\"ps746 ss2185\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une variation de +\u00a01 % des taux </span></div><div class=\"ps748 ss2185\"><span class=\"f charStyle-044fe383 ps10\">d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34784 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.89pt\"></span></span><span class=\"ps34783\">(9)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34785 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34787 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.5pt\"></span></span><span class=\"ps34786\">(12)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34788 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:389.62pt\">, une diminution instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat aurait eu un impact favorable du m\u00eame montant.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-526": {
   "value": "<div class=\"ps34314 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.1<span id=\"ie16a3f3bf3e8401cb4ae518ccdeafc12\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps19284\"><span style=\"display:inline-block;height:8.22pt;width:9.44pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de change</span></span></div><div class=\"ps34315 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de change op\u00e9rationnel<span id=\"i2bbd139a823b4a69bb4a56a91ca93d4e\"></span></span></div><div class=\"ps34316 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Les filiales du Groupe sont expos\u00e9es au risque de change</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34317 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dans le cadre de leurs activit\u00e9s industrielles et commerciales.</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">Ces risques et les couvertures aff\u00e9rentes sont suivis par la</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps34320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:211.94pt\">Direction du Financement et de la Tr\u00e9sorerie du Groupe.</span><span class=\"f charStyle-165dec60 ps34319\" style=\"width:1.96pt\"> </span></div><div class=\"ps34321 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">L\u2019exposition bilantielle (cr\u00e9ances et dettes non financi\u00e8res</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">inscrites au bilan en devises \u00e9trang\u00e8res) est couverte de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">fa\u00e7on syst\u00e9matique. Les couvertures des filiales sont</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">r\u00e9alis\u00e9es principalement aupr\u00e8s de la soci\u00e9t\u00e9 m\u00e8re Valeo, qui</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">\u00e0 son tour couvre les positions nettes du Groupe aupr\u00e8s de</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:56.49pt\"><span style=\"background-color:inherit\">contreparties </span></span><span class=\"f charStyle-b26c2267 ps27780\" style=\"width:172.83pt\"><span style=\"background-color:inherit\">externes. Les produits d\u00e9riv\u00e9s de change</span></span><span class=\"f charStyle-b26c2267 ps431\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:88.96pt\"><span style=\"background-color:inherit\">correspondants n'\u00e9tant</span></span><span class=\"f charStyle-68ecf294 ps34327\" style=\"width:140.35pt\"><span style=\"background-color:inherit\"> pas d\u00e9sign\u00e9s dans une relation de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.31pt\"><span style=\"background-color:inherit\">couverture comptable sont qualifi\u00e9s d\u2019instruments de</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19438 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps275\" style=\"width:30.37pt\"><span style=\"background-color:inherit\">trading </span></span><span class=\"f charStyle-68ecf294 ps34330\" style=\"width:110.3pt\"><span style=\"background-color:inherit\">d'un point de vue comptable.</span></span><span class=\"f charStyle-68ecf294 ps12083\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34331 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le Groupe couvre \u00e9galement sa marge op\u00e9rationnelle</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34332 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">contre le risque de change, sur un horizon budg\u00e9taire de</span></span><span class=\"f charStyle-68ecf294 ps425\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34333 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">fa\u00e7on r\u00e9guli\u00e8re et sur un horizon contractuel de fa\u00e7on</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34334 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:111.94pt\"><span style=\"background-color:inherit\">exceptionnelle pour des c</span></span><span class=\"f charStyle-5bbe5a0c ps27771\" style=\"width:117.34pt\"><span style=\"background-color:inherit\">ontrats pr\u00e9cis significatifs. Les</span></span><span class=\"f charStyle-5bbe5a0c ps610\" style=\"width:1.66pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34336 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5bbe5a0c ps275\" style=\"width:143.23pt\"><span style=\"background-color:inherit\">principaux instruments de couverture </span></span><span class=\"f charStyle-68ecf294 ps34335\" style=\"width:86.05pt\"><span style=\"background-color:inherit\">auxquels le Groupe a</span></span><span class=\"f charStyle-68ecf294 ps610\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:170.69pt\"><span style=\"background-color:inherit\">habituellement recours sont les achats et </span></span><span class=\"f charStyle-6b8e39ee ps34337\" style=\"width:58.64pt\"><span style=\"background-color:inherit\">ventes \u00e0 terme</span></span><span class=\"f charStyle-6b8e39ee ps412\" style=\"width:1.81pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34340 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6b8e39ee ps275\" style=\"width:216.7pt\"><span style=\"background-color:inherit\">fermes en devises. Dans ce cas, le Groupe applique</span></span><span class=\"f charStyle-68ecf294 ps34339\" style=\"width:12.6pt\"><span style=\"background-color:inherit\"> la</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34341 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:205.3pt\"><span style=\"background-color:inherit\">comptabilit\u00e9 de couverture de flux futurs de tr\u00e9sorerie.</span></span></div><div class=\"ps13143 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">Elle est d\u00e9termin\u00e9e par la technique de valorisation</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps13144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">suivante\u00a0: les flux de tr\u00e9sorerie futurs sont calcul\u00e9s en</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19794 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">utilisant les cours de change \u00e0 terme \u00e0 la date de cl\u00f4ture, et</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19795 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.3pt\"><span style=\"background-color:inherit\">sont actualis\u00e9s au taux d\u2019int\u00e9r\u00eat de la devise de valorisation.</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps19796 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:177.36pt\"><span style=\"background-color:inherit\">Cette technique de valorisation est de niveau 2.</span></span></div><div class=\"ps5148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">Au </span></span><span class=\"f charStyle-165dec60 ps34342\" style=\"width:67.74pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps31597\" style=\"width:149.08pt\"><span style=\"background-color:inherit\">, la part inefficace li\u00e9e \u00e0 ces couvertures</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps5149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:173.68pt\"><span style=\"background-color:inherit\">est n\u00e9gligeable, comme au 31 d\u00e9cembre 2024.</span></span><span class=\"f charStyle-68ecf294 ps34343\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34344 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps448\">Gestion du risque de change financier<span class=\"f ps53\"> </span><span id=\"ifa9c8a40627c475c9caa305c6b1a9456\"></span></span></div><div class=\"ps34345 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">La centralisation des exc\u00e9dents de tr\u00e9sorerie, les besoins de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34346 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">financement des filiales \u00e9trang\u00e8res et certaines op\u00e9rations</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34348 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:13.54pt\">de </span><span class=\"f charStyle-81f42323 ps34347\" style=\"width:215.72pt\">financement exposent le Groupe \u00e0 un risque de change</span><span class=\"f charStyle-81f42323 ps471\" style=\"width:1.78pt\"> </span></div><div class=\"ps34350 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:31.25pt\">financier</span><span class=\"f charStyle-165dec60 ps34349\" style=\"width:198.07pt\"> (risque li\u00e9 \u00e0 la variation de valeur de dettes ou de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34352 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.15pt\">cr\u00e9ances </span><span class=\"f charStyle-81f42323 ps34351\" style=\"width:192.16pt\">financi\u00e8res libell\u00e9es en devises autres que la devise</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps34354 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:47.16pt\">fonctionnelle</span><span class=\"f charStyle-165dec60 ps34353\" style=\"width:182.11pt\"> de l\u2019entit\u00e9 emprunteuse ou pr\u00eateuse). Ce risque</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps7248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:191.41pt\">de change est couvert essentiellement via des </span><span class=\"f charStyle-e8054d08 ps34355\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34356\" style=\"width:13.84pt\"> de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps7249 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:29.12pt\">devises.</span></div><div class=\"ps34357 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">Le Groupe finance usuellement ses filiales dans leurs propres</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34358 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:229.31pt\">devises et se couvre syst\u00e9matiquement contre le risque de</span><span class=\"f charStyle-b2f078f6 ps460\" style=\"width:1.83pt\"> </span></div><div class=\"ps34360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps448\" style=\"width:27.66pt\">change</span><span class=\"f charStyle-165dec60 ps34359\" style=\"width:55.01pt\"> qui en r\u00e9sulte.</span></div><div class=\"ps4815 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.26pt\">Par ailleurs, les financements externes du Groupe sont, en</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps4816 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">r\u00e8gle g\u00e9n\u00e9rale, libell\u00e9s en euros, notamment pour les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4817 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:211.55pt\">\u00e9missions obligataires sous programme EMTN (</span><span class=\"f charStyle-e8054d08 ps34361\" style=\"width:17.75pt\">Euro</span><span class=\"f charStyle-e8054d08 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps4818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:73.83pt\">Medium Term Note</span><span class=\"f charStyle-165dec60 ps34362\" style=\"width:4.05pt\">).</span></div><div class=\"ps34363 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Le gain latent de 2 millions d\u2019euros porte principalement sur</span></span><span class=\"f charStyle-68ecf294 ps450\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34366 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:13.69pt\"><span style=\"background-color:inherit\">les </span></span><span class=\"f charStyle-bec71f61 ps34364\" style=\"width:24.07pt\"><span style=\"background-color:inherit\">swaps</span></span><span class=\"f charStyle-68ecf294 ps34365\" style=\"width:191.51pt\"><span style=\"background-color:inherit\"> de devises relatifs aux couvertures des comptes</span></span><span class=\"f charStyle-68ecf294 ps455\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34367 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:124.82pt\"><span style=\"background-color:inherit\">courants et bancaires du Groupe.</span></span></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition nette globale du Groupe<span id=\"i7f965bab3bbe488b8bb37f2d597fd955\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:272.27pt\">L\u2019exposition nette globale du Groupe (sur les positions bilantielles) au </span><span class=\"f charStyle-81993cb5 ps34368\" style=\"width:69.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-81993cb5 ps34369\" style=\"width:139.42pt\">, bas\u00e9e sur les montants notionnels,</span><span class=\"f charStyle-81993cb5 ps1722\" style=\"width:1.87pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:47.45pt\">se\u00a0concentre</span><span class=\"f charStyle-165dec60 ps29032\" style=\"width:290.35pt\"> sur les principales devises suivantes (hors devises fonctionnelles des entit\u00e9s)\u00a0:</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:86.25pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"padding:0\"></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps30404 ss2150\"><div><div class=\"ps9316 ss2149\"><span class=\"f charStyle-6bef0edd ps34370\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34373 ss2151\"><div><div class=\"ps9316 ss970\"><span class=\"f charStyle-98f46611 ps34371\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34372\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9317 ss2152\"><div><div class=\"ps34374 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34375 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps28834\">USD<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34376 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps9334\">CNY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34377 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps29149\">EUR<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34378 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps23388\">JPY<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34379 ss2153\"><div><div class=\"ps9319 ss208\"><span class=\"f charStyle-6bef0edd ps16616\">Autres <span class=\"f ps53\"> </span></span></div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps32314\">devises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34381 ss2153\"><div><div class=\"ps9321 ss208\"><span class=\"f charStyle-6bef0edd ps34380\">Total<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34383 ss2154\"><div><div class=\"ps9321 ss970\"><span class=\"f charStyle-ae6044e9 ps34382\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34384 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs commerciaux expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34386 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.88pt\"></span></span><span class=\"ps34385\">(141)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34388 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.26pt\"></span></span><span class=\"ps34387\">(97)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34389 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.01pt\"></span></span><span class=\"ps30894\">(267)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34390 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.2pt\"></span></span><span class=\"ps31002\">(28)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34391 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:23.97pt\"></span></span><span class=\"ps31180\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34392 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.5pt\"></span></span><span class=\"ps33855\">(552)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34394 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.3pt\"></span></span><span class=\"ps34393\">(587)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Actifs &amp; Passifs financiers expos\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34395 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">(416)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34396 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.43pt\"></span></span><span class=\"ps24061\">(1\u00a0313)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34397 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:24.18pt\"></span></span><span class=\"ps17866\">49<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34398 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">(153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34399 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.07pt\"></span></span><span class=\"ps13199\">720<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34401 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.95pt\"></span></span><span class=\"ps34400\">(1\u00a0113)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34402 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.82pt\"></span></span><span class=\"ps30659\">(1\u00a0832)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE BRUTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34403 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.45pt\"></span></span><span class=\"ps33612\">(557)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25916 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.77pt\"></span></span><span class=\"ps34404\">(1\u00a0410)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34405 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.71pt\"></span></span><span class=\"ps11374\">(218)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34406 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.19pt\"></span></span><span class=\"ps3626\">(181)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34408 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.01pt\"></span></span><span class=\"ps34407\">701<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34410 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.96pt\"></span></span><span class=\"ps34409\">(1\u00a0665)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34412 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.11pt\"></span></span><span class=\"ps34411\">(2\u00a0419)</span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10856 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-044fe383 ps10\">Instruments d\u00e9riv\u00e9s de change </span><span class=\"f charStyle-4da12822 ps34413\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34414 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.94pt\"></span></span><span class=\"ps14346\">549<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34416 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:15.47pt\"></span></span><span class=\"ps34415\">1\u00a0386<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34417 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.23pt\"></span></span><span class=\"ps10533\">(38)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34418 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:22.17pt\"></span></span><span class=\"ps30984\">177<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34419 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.17pt\"></span></span><span class=\"ps23605\">(741)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34420 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.37pt\"></span></span><span class=\"ps4556\">1\u00a0333<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34422 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.81pt\"></span></span><span class=\"ps34421\">2\u00a0200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34423 ss2155\"><div><div class=\"ps1259 ss1943\"><span class=\"f charStyle-3f403986 ps10\">EXPOSITION BILANTIELLE NETTE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34425 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.07pt\"></span></span><span class=\"ps34424\">(8)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34426 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.44pt\"></span></span><span class=\"ps11138\">(24)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34428 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.37pt\"></span></span><span class=\"ps34427\">(256)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34429 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:25.86pt\"></span></span><span class=\"ps3374\">(4)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34431 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:20.77pt\"></span></span><span class=\"ps34430\">(40)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34433 ss1060\"><div><div class=\"ps1259 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.72pt\"></span></span><span class=\"ps34432\">(332)</span></span></div></div></div></td><td style=\"background-color:#ffffff;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34434 ss2156\"><div><div class=\"ps1259 ss970\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.39pt\"></span></span><span class=\"ps29596\">(219)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34436 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:255.07pt\">hors instruments d\u00e9riv\u00e9s de couverture de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34437 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34439 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:53.56pt\">au 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34438\" style=\"width:15.97pt\">2024</span></div><div class=\"ps34440 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.18pt\">Dans le tableau ci-dessus, la colonne libell\u00e9e EUR correspond \u00e0 l\u2019exposition nette euro des entreprises du Groupe dont la</span><span class=\"f charStyle-165dec60 ps1225\" style=\"width:1.96pt\"> </span></div><div class=\"ps34441 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.32pt\">monnaie fonctionnelle n\u2019est pas l\u2019euro. Il existe notamment une exposition des filiales localis\u00e9es en Europe centrale et dans le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34442 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:281.57pt\">bassin m\u00e9diterran\u00e9en, qui se financent en euros aupr\u00e8s de la soci\u00e9t\u00e9 Valeo.</span><span class=\"f charStyle-165dec60 ps19744\" style=\"width:1.96pt\"> </span></div><div class=\"ps34443 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-ebecb6c1 ps275\">Analyse de sensibilit\u00e9 de l\u2019exposition nette au risque de change<span id=\"id807047dcfdb40f4ab8040cb86a3265b\"></span></span></div><div class=\"ps2753 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.18pt\"><span style=\"background-color:inherit\">Les cours de change retenus pour le dollar am\u00e9ricain, pour le yen japonais et pour le renminbi chinois s\u2019\u00e9tablissent</span></span><span class=\"f charStyle-68ecf294 ps1225\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7939 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:209.44pt\"><span style=\"background-color:inherit\">respectivement pour 1 euro \u00e0 1,175, 184,09 et 8,2262 au\u00a0</span></span><span class=\"f charStyle-165dec60 ps27923\" style=\"width:68.84pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34444\" style=\"width:202.97pt\"><span style=\"background-color:inherit\"> contre 1,0389 pour le dollar am\u00e9ricain, 163,06 pour le</span></span><span class=\"f charStyle-68ecf294 ps719\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps7940 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:189.02pt\"><span style=\"background-color:inherit\">yen japonais et 7,5833 pour le renminbi chinois au </span></span><span class=\"f charStyle-165dec60 ps34445\" style=\"width:68.17pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-68ecf294 ps34446\" style=\"width:1.59pt\"><span style=\"background-color:inherit\">.</span></span></div><div class=\"ps6372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:151.5pt\">Une appr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps34447\" style=\"width:69.78pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34448\" style=\"width:26.39pt\"> et au </span><span class=\"f charStyle-165dec60 ps34449\" style=\"width:70.49pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps34450\" style=\"width:163.11pt\"> par rapport \u00e0 ces devises aurait les effets</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps6373 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:293.04pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34462 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps10311 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-98f46611 ps25704\">31 d\u00e9cembre 2024</span><span class=\"f charStyle-d93fd2c0 ps34452\"><span class=\"f ps53\"> </span><sup>(2)</sup></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2157\"><div><div class=\"ps16333 ss666\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps10314 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps8015 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-873f2209 ps34454\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps33551\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps31904\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-98f46611 ps34453\">Capitaux propres </span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps23881\">Gain/(Pertes) </span><span class=\"f charStyle-d93fd2c0 ps34454\"><sup>(1)</sup></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au dollar am\u00e9ricain<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps32820 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34455 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.91pt\"></span></span><span class=\"ps30624\">4<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.45pt\"></span></span><span class=\"ps20142\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition au yen japonais<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32827 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34456 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.15pt\"></span></span><span class=\"ps34457\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-044fe383 ps10\">Exposition au renminbi chinois</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32835 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.61pt\"></span></span><span class=\"ps30623\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34458 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.16pt\"></span></span><span class=\"ps28393\">(5)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-a696f64a ps10\">Exposition \u00e0 l'euro<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps32844 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.91pt\"></span></span><span class=\"ps27904\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34459 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.14pt\"></span></span><span class=\"ps27880\">(19)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps11367 ss673\"><div><div class=\"ps746 ss666\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps32852 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.12pt\"></span></span><span class=\"ps34460\">(22)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34461 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.58pt\"></span></span><span class=\"ps30639\">(3)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.21pt\"></span></span><span class=\"ps30692\">(19)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.55pt\"></span></span><span class=\"ps11842\">(5)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">les chiffres pr\u00e9sent\u00e9s correspondent \u00e0 la sensibilit\u00e9 des autres \u00e9l\u00e9ments du r\u00e9sultat global li\u00e9e \u00e0 une \u00e9volution des instruments de couverture</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps34464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:125.23pt\">de flux de tr\u00e9sorerie (cash-flow hedge)</span></div><div class=\"ps34465 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.13pt\">Les donn\u00e9es de l'exercice 2024 ont fait l'objet d'une correction par rapport \u00e0 celles pr\u00e9sent\u00e9es dans les \u00e9tats financiers consolid\u00e9s du Groupe</span><span class=\"f charStyle-776a1ec6 ps467\" style=\"width:1.7pt\"> </span></div><div class=\"ps34466 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:69.53pt\">au 31 d\u00e9cembre 2024</span></div><div class=\"ps30792 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">Pour les besoins de ces analyses, toutes les autres variables,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps30793 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">en particulier les taux d\u2019int\u00e9r\u00eats, sont suppos\u00e9es rester</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps33924 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps30797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.01pt\">Une d\u00e9pr\u00e9ciation de 10\u00a0% de l\u2019euro au </span><span class=\"f charStyle-165dec60 ps9638\" style=\"width:68.38pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34468\" style=\"width:14.92pt\"> par</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">rapport \u00e0 ces devises aurait l\u2019effet inverse en faisant</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps26907 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">l\u2019hypoth\u00e8se que toutes les autres variables restent</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps30799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43pt\">constantes.</span></div><div class=\"ps19803 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">Les effets des variations des taux de change sur la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps19804 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">conversion en euro du montant des actifs nets sont refl\u00e9t\u00e9s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps19805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:180.96pt\">dans les capitaux propres consolid\u00e9s du Groupe.</span></div><div class=\"ps12401 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">De nombreuses entit\u00e9s du Groupe sont situ\u00e9es hors de la</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34469 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">zone euro. La devise de pr\u00e9sentation des \u00e9tats financiers de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34470 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Valeo \u00e9tant l'euro, les \u00e9tats financiers de ses filiales sont</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34471 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">convertis en euros pour la pr\u00e9paration des \u00e9tats financiers</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps34472 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">consolid\u00e9s. Dans le cadre de sa gestion du risque de change,</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps18061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">le Groupe consid\u00e8re que ses investissements dans ses</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">activit\u00e9s \u00e9trang\u00e8res sont permanents. Les effets des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps18063 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">fluctuations des taux de change sur la conversion des</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps18064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">montants nets des actifs en euros sont refl\u00e9t\u00e9s dans la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps18065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:147.83pt\">situation nette consolid\u00e9e de la soci\u00e9t\u00e9.</span></div><div class=\"ps34473 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Par ailleurs, les op\u00e9rations de financements entre deux</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34474 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">entit\u00e9s du Groupe ayant des devises fonctionnelles</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.25pt\">diff\u00e9rentes sont de nature \u00e0\u00a0 exposer le r\u00e9sultat de Valeo au</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34476 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">risque de change. Pour se pr\u00e9munir contre ce risque, le</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps34477 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">Groupe peut \u00eatre amen\u00e9 \u00e0 contracter des instruments</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps34478 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u00e9riv\u00e9s. Les op\u00e9rations de financement intragroupes faisant</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps15322 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">l\u2019objet d\u2019une \u00e9limination dans les comptes consolid\u00e9s du</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps15323 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Groupe, les variations de valeur de ces instruments de</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps15324 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">couverture sont susceptibles d\u2019avoir une incidence sur</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps15325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:112.38pt\">l\u2019endettement net du Groupe.</span><span class=\"f charStyle-165dec60 ps34479\" style=\"width:1.96pt\"> </span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s de change<span id=\"ifd1a9b59195e44118cc2cd75d31ddeef\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:276.33pt\">Les cours de cl\u00f4ture de la Banque centrale europ\u00e9enne (BCE) et les taux <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8054d08 ps34480\" style=\"width:29.99pt\">forward</span><span class=\"f charStyle-165dec60 ps34481\" style=\"width:13.92pt\"> au </span><span class=\"f charStyle-165dec60 ps34482\" style=\"width:68pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34483\" style=\"width:92.95pt\"> ont \u00e9t\u00e9 retenus pour les</span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.9pt\">instruments financier</span><span class=\"f charStyle-68ecf294 ps34484\" style=\"width:76.2pt\"><span style=\"background-color:inherit\">s relatifs au change :</span></span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:109.5pt\"></td><td style=\"padding:0;width:48pt\"></td><td style=\"padding:0;width:48pt\"></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><td style=\"padding:0;width:44.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34489 ss2158\"><div><div class=\"ps34486 ss1241\"><span class=\"f charStyle-6bef0edd ps34485\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss1241\"><span class=\"f charStyle-6bef0edd ps34487\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps32073 ss1461\"><div><div class=\"ps509 ss1458\"><span class=\"f charStyle-6bef0edd ps34490\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps23157 ss2159\"><div><div class=\"ps34488 ss387\"><span class=\"f charStyle-6bef0edd ps29952\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34491 ss2108\"><div><div class=\"ps9325 ss1241\"><span class=\"f charStyle-ae6044e9 ps11418\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34493 ss2161\"><div><div class=\"ps509 ss2160\"><span class=\"f charStyle-ae6044e9 ps34492\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps18555 ss1338\"><div><div class=\"ps509 ss1241\"><span class=\"f charStyle-ae6044e9 ps4515\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2163\"><div><div class=\"ps16333 ss2162\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34494 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps14424\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34495 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34298\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13681 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps34496\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34497 ss635\"><div><div class=\"ps523 ss634\"><span class=\"f charStyle-ae6044e9 ps10154\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34499 ss1291\"><div><div class=\"ps509 ss1241\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps34498\">2031</span><span class=\"f charStyle-98f46611 ps28741\"> et </span></div><div class=\"ps523 ss1241\"><span class=\"f charStyle-98f46611 ps16621\">au\u2011del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:32.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss2164\"><div><div class=\"ps15656 ss2162\"><span class=\"f charStyle-044fe383 ps10\">Contrats de change \u00e0 </span></div><div class=\"ps13845 ss2162\"><span class=\"f charStyle-044fe383 ps10\">terme utilis\u00e9s comme </span></div><div class=\"ps15657 ss2162\"><span class=\"f charStyle-044fe383 ps10\">couverture\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16837 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34500 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.97pt\"></span></span><span class=\"ps9752\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34502 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:33.7pt\"></span></span><span class=\"ps34501\">53<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34503 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:37.21pt\"></span></span><span class=\"ps26757\">1<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34505 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34506 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34507 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34508 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34509 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.22pt\"></span></span><span class=\"ps33814\">54<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34510 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34511 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:35.14pt\"></span></span><span class=\"ps27413\">(9)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34512 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34513 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34514 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34515 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34516 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34518 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.39pt\"></span></span><span class=\"ps34517\">(9)</span></span></div></div></div></td></tr><tr style=\"height:21pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss2169\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-373e86b9 ps10\">Swaps</span><span class=\"f charStyle-044fe383 ps9416\"> de devise utilis\u00e9s </span></div><div class=\"ps34519 ss2162\"><span class=\"f charStyle-044fe383 ps10\">comme couverture :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26205 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34520 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34521 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.9pt\"></span></span><span class=\"ps3295\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34522 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34523 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34524 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34525 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34526 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34527 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.15pt\"></span></span><span class=\"ps10935\">16<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps784 ss2165\"><div><div class=\"ps28434 ss2162\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34529 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34530 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.78pt\"></span></span><span class=\"ps34528\">(13)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34531 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34532 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34533 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34534 ss2167\"><div><div class=\"ps28434 ss634\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.41pt\"></span></span><span class=\"ps34504\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34535 ss2166\"><div><div class=\"ps28434 ss1241\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:34.66pt\"></span></span><span class=\"ps26146\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34536 ss2168\"><div><div class=\"ps28434 ss387\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:29.03pt\"></span></span><span class=\"ps358\">(13)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34537 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.2<span id=\"ied6f756cc13447c88d404fc067ae2977\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps21101\"><span style=\"display:inline-block;height:8.22pt;width:7.76pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s mati\u00e8res </span></span></div><div class=\"ps34538 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps29287\">(m\u00e9taux\u00a0non\u00a0ferreux)</span></div><div class=\"ps34539 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de mati\u00e8res premi\u00e8res<span id=\"i5e94a017c5bf4069a11a3c272f74f99a\"></span></span></div><div class=\"ps633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe g\u00e8re son exposition aux mati\u00e8res premi\u00e8res en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps4041 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.25pt\">mettant en place, chaque fois que cela est possible, des</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps4042 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:31.8pt\">clauses </span><span class=\"f charStyle-81f42323 ps34540\" style=\"width:197.47pt\">d\u2019indexation de ses prix de vente dans les contrats</span><span class=\"f charStyle-81f42323 ps415\" style=\"width:1.78pt\"> </span></div><div class=\"ps4044 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:51.47pt\">commerciaux.</span><span class=\"f charStyle-165dec60 ps34541\" style=\"width:177.86pt\"> C\u2019est notamment le cas pour les m\u00e9taux non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps4047 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">ferreux et l\u2019acier pour lesquels ces clauses couvrent plus de</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps4049 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:73.47pt\">80% de l\u2019exposition.</span></div><div class=\"ps32960 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">L\u2019exposition aux m\u00e9taux non ferreux, cot\u00e9s principalement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32961 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:26.6pt\">sur le </span><span class=\"f charStyle-e8054d08 ps34542\" style=\"width:101.5pt\">London Metal Exchange </span><span class=\"f charStyle-165dec60 ps34543\" style=\"width:64.03pt\">(LME) et sur le </span><span class=\"f charStyle-e8054d08 ps34544\" style=\"width:37.12pt\">Shanghai</span><span class=\"f charStyle-e8054d08 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps7105 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps275\" style=\"width:71.68pt\">Futures Exchange</span><span class=\"f charStyle-165dec60 ps11708\" style=\"width:157.63pt\">, ainsi que, dans une moindre mesure,</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps7106 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">l'exposition au propyl\u00e8ne, sont couvertes aupr\u00e8s de banques</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps7107 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">de premier rang au travers d\u2019instruments d\u00e9riv\u00e9s de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34545 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">couverture. L\u2019objet de ces couvertures est de limiter l\u2019impact</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps34546 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">des variations de prix de ces mati\u00e8res premi\u00e8res sur les</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34547 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">r\u00e9sultats du Groupe et d\u2019offrir le temps n\u00e9cessaire \u00e0 Valeo</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps4062 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">pour n\u00e9gocier en cons\u00e9quence des hausses de prix aupr\u00e8s</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps34548 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">de ses clients.\u00a0Les expositions r\u00e9sultant d\u2019indexations des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34549 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">prix de vente sur des p\u00e9riodes diff\u00e9rentes de celles pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps11996 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">dans les contrats achats de mati\u00e8res premi\u00e8res font</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps11997 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:126.11pt\">\u00e9galement l\u2019objet de couvertures.</span></div><div class=\"ps34550 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">Les couvertures sont r\u00e9alis\u00e9es via des instruments d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps34551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">sans livraison de sous-jacent physique (essentiellement des</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps12000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34552\" style=\"width:205.23pt\"> sur le cours moyen mensuel). Ces op\u00e9rations sont</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps12001 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">qualifi\u00e9es de couvertures de flux de tr\u00e9sorerie au sens de la</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps12002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:52.35pt\">norme IFRS 9.</span></div><div class=\"ps29481 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">L\u2019acier, la plupart des plastiques et les terres rares ne</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29483 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.3pt\">peuvent pas faire l\u2019objet de couvertures \u00e0 terme sur les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34553 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">march\u00e9s financiers car ces mati\u00e8res ne sont pas cot\u00e9es sur</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps34554 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:77.33pt\">un march\u00e9 organis\u00e9.</span></div><div class=\"ps29488 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">La part relative des stocks dans l\u2019\u00e9tat de la situation</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps21741 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">financi\u00e8re du Groupe est peu influenc\u00e9e par la variation du</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps29489 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.28pt\">prix des mati\u00e8res premi\u00e8res compte tenu de leur rotation</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19537 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">rapide et de l\u2019optimisation des flux logistiques qui en</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19539 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:81.3pt\">r\u00e9duisent le montant.</span></div><div class=\"ps16325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:319.76pt\">Les volumes couverts de m\u00e9taux non ferreux en fin de p\u00e9riode s\u2019\u00e9tablissent aux </span><span class=\"f charStyle-165dec60 ps34555\" style=\"width:70.52pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34556\" style=\"width:14.55pt\"> et </span><span class=\"f charStyle-165dec60 ps34557\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34558\" style=\"width:58.02pt\"> de la mani\u00e8re</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34559 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante\u00a0:</span></div><div class=\"ps34568 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en tonnes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Aluminium<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">41\u00a0213<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.05pt\"></span></span><span class=\"ps34561\">44\u00a0483<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aluminium 2</span><span class=\"f charStyle-4da12822 ps34562\"><sup>e</sup></span><span class=\"f charStyle-044fe383 ps34563\"> fusion</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.08pt\"></span></span><span class=\"ps34560\">10\u00a0513<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.86pt\"></span></span><span class=\"ps34564\">9\u00a0600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cuivre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.5pt\"></span></span><span class=\"ps34565\">10\u00a0309<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.47pt\"></span></span><span class=\"ps34566\">11\u00a0326<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.13pt\"></span></span><span class=\"ps34567\">62\u00a0035<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.03pt\"></span></span><span class=\"ps24079\">65\u00a0409<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">Les produits d\u00e9riv\u00e9s sur m\u00e9taux de base utilis\u00e9s par le</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:36.01pt\"><span style=\"background-color:inherit\">Groupe s</span></span><span class=\"f charStyle-b26c2267 ps34569\" style=\"width:193.25pt\"><span style=\"background-color:inherit\">ont qualifi\u00e9s de couverture de flux de tr\u00e9sorerie.</span></span><span class=\"f charStyle-b26c2267 ps410\" style=\"width:1.93pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b26c2267 ps275\" style=\"width:56.36pt\"><span style=\"background-color:inherit\">Pour l\u2019exercice </span></span><span class=\"f charStyle-68ecf294 ps34570\" style=\"width:28.13pt\"><span style=\"background-color:inherit\">clos au </span></span><span class=\"f charStyle-165dec60 ps34571\" style=\"width:67.62pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34572\" style=\"width:77.19pt\"><span style=\"background-color:inherit\">, un gain latent de 15</span></span><span class=\"f charStyle-68ecf294 ps608\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.33pt\"><span style=\"background-color:inherit\">millions d'euros li\u00e9 aux couvertures en place est comptabilis\u00e9</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps8090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.95pt\"><span style=\"background-color:inherit\">dans les Autres \u00e9l\u00e9ments du r\u00e9sultat global.</span></span></div><div class=\"ps18625 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">La perte latente de 3 millions d\u2019euros comptabilis\u00e9e dans les</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18626 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:156.71pt\">Autres \u00e9l\u00e9ments du r\u00e9sultat global au </span><span class=\"f charStyle-165dec60 ps34573\" style=\"width:72.61pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps18627 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">relatif aux couvertures en place a \u00e9t\u00e9 enti\u00e8rement reclass\u00e9e</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps8089 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:103.94pt\">en r\u00e9sultat op\u00e9rationnel en </span><span class=\"f charStyle-165dec60 ps34574\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34575\" style=\"width:1.59pt\">.</span></div><div class=\"ps34576 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 des couvertures en vie au 31 d\u00e9cembre 2025 <span id=\"i97288b4385f944e49abf2157435a6ea3\"></span></span></div><div class=\"ps34579 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:207.87pt\">Une hausse de 10\u00a0% des cours \u00e0 terme des m\u00e9taux aux </span><span class=\"f charStyle-49b068b5 ps13902\" style=\"width:67.04pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-49b068b5 ps34577\" style=\"width:12.27pt\"> et </span><span class=\"f charStyle-49b068b5 ps4176\" style=\"width:18.01pt\">2024</span><span class=\"f charStyle-49b068b5 ps34578\" style=\"width:176.07pt\"> aurait les impacts suivants sur le r\u00e9sultat et les</span><span class=\"f charStyle-49b068b5 ps689\" style=\"width:1.86pt\"> </span></div><div class=\"ps34581 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b068b5 ps275\" style=\"width:33.29pt\">capitaux </span><span class=\"f charStyle-165dec60 ps34580\" style=\"width:85.56pt\">propres, avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34588 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:90pt\"></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:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps32207 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-6bef0edd ps33281\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps16338 ss2089\"><div><div class=\"ps509 ss759\"><span class=\"f charStyle-ae6044e9 ps1766\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps33282 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps3695 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-6bef0edd ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-6bef0edd ps11003\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33285 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps27349\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps27606\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34582 ss2170\"><div><div class=\"ps509 ss1239\"><span class=\"f charStyle-ae6044e9 ps9775\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss1239\"><span class=\"f charStyle-ae6044e9 ps10032\">Gains/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2020\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une hausse de 10 % </span></div><div class=\"ps748 ss762\"><span class=\"f charStyle-044fe383 ps10\">des\u00a0cours \u00e0 terme des m\u00e9taux<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34584 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34586 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:77.21pt\"></span></span><span class=\"ps34585\">12<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16362 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.66pt\"></span></span><span class=\"ps34583\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16366 ss2171\"><div><div class=\"ps6851 ss1239\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:76.5pt\"></span></span><span class=\"ps34587\">10<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34590 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:375.05pt\">, une baisse de 10 % des cours \u00e0 terme des m\u00e9taux aurait un impact d\u00e9favorable du m\u00eame montant.</span></div><div class=\"ps34591 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:353.5pt\">Pour les besoins de cette analyse, toutes les autres variables sont suppos\u00e9es rester constantes.</span></div></div><div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">\u00c9ch\u00e9ances contractuelles r\u00e9siduelles relatives aux d\u00e9riv\u00e9s mati\u00e8res<span id=\"i5d6c314b0abd4d5091fcf36884542372\"></span></span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:79.4pt\">Les cours \u00e0 terme du </span><span class=\"f charStyle-8ab43435 ps34592\" style=\"width:91.01pt\">London Metal Exchange</span><span class=\"f charStyle-53279637 ps34593\" style=\"width:37.06pt\"> (LME) du </span><span class=\"f charStyle-53279637 ps34594\" style=\"width:66.14pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-53279637 ps34595\" style=\"width:207.67pt\"> ont \u00e9t\u00e9 utilis\u00e9s pour \u00e9tablir les \u00e9ch\u00e9ances contractuelles</span><span class=\"f charStyle-53279637 ps455\" style=\"width:1.85pt\"> </span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps275\" style=\"width:30.27pt\">relatives</span><span class=\"f charStyle-165dec60 ps13762\" style=\"width:82.9pt\"> aux d\u00e9riv\u00e9s mati\u00e8res :</span></div><div class=\"ps34435 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:120.75pt\"></td><td style=\"padding:0;width:66pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:45pt\"></td><td style=\"padding:0;width:45pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps32207 ss2172\"><div><div class=\"ps34486 ss2067\"><span class=\"f charStyle-6bef0edd ps25857\">Valeur <span class=\"f ps53\"> </span></span></div><div class=\"ps34488 ss2067\"><span class=\"f charStyle-6bef0edd ps34596\">comptable<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"6\" style=\"background-color:#2c567a;border-bottom:1pt solid #ffffff;padding:0\"><div class=\"ps13831 ss2174\"><div><div class=\"ps509 ss2173\"><span class=\"f charStyle-6bef0edd ps34597\">Flux de tr\u00e9sorerie contractuels<span class=\"f ps53\"> </span></span></div></div></div></td><td rowspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps9972 ss2175\"><div><div class=\"ps34488 ss637\"><span class=\"f charStyle-6bef0edd ps13199\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td rowspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34599 ss2176\"><div><div class=\"ps9325 ss637\"><span class=\"f charStyle-ae6044e9 ps34598\">&lt; 1 an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"4\" style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34601 ss2178\"><div><div class=\"ps509 ss2177\"><span class=\"f charStyle-ae6044e9 ps34600\">\u2265 1 an et \u2264 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:1pt solid #ffffff;padding:0\"><div class=\"ps34582 ss1116\"><div><div class=\"ps509 ss637\"><span class=\"f charStyle-ae6044e9 ps10060\">&gt; 5 ans<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2019\"><div><div class=\"ps16333 ss762\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34603 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34602\">2027<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34604 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps3800\">2028<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34606 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34605\">2029<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34608 ss398\"><div><div class=\"ps523 ss208\"><span class=\"f charStyle-ae6044e9 ps34607\">2030<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31020 ss638\"><div><div class=\"ps509 ss637\" style=\"font-size:12pt\"><span class=\"f charStyle-98f46611 ps17690\">2031</span><span class=\"f charStyle-98f46611 ps34609\"> et </span></div><div class=\"ps523 ss637\"><span class=\"f charStyle-98f46611 ps400\">au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps17207 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s mati\u00e8res :<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34610 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.05pt\"></span></span><span class=\"ps30356\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34612 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34613 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34614 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34615 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34616 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34617 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34618 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.05pt\"></span></span><span class=\"ps34611\">17<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss771\"><div><div class=\"ps746 ss762\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34620 ss2069\"><div><div class=\"ps746 ss2067\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.45pt\"></span></span><span class=\"ps34619\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34622 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34623 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34624 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34625 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-right:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34626 ss405\"><div><div class=\"ps746 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.41pt\"></span></span><span class=\"ps20842\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-left:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34627 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:31.66pt\"></span></span><span class=\"ps16874\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34628 ss1116\"><div><div class=\"ps746 ss637\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:32.45pt\"></span></span><span class=\"ps34621\">(2)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34630 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">9.1.4.3<span id=\"i3b53baccdf014b5d95fd02b7048bdcc7\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps34629\"><span style=\"display:inline-block;height:8.22pt;width:7.74pt\"></span></span><span class=\"ps29285\">Juste valeur des d\u00e9riv\u00e9s de taux d\u2019int\u00e9r\u00eats</span></span></div><div class=\"ps34631 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Gestion du risque de taux d\u2019int\u00e9r\u00eats<span id=\"ia2409fd65f9048dc93cab92c5820a734\"></span></span></div><div class=\"ps872 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:113.58pt\">Le Groupe peut utiliser des </span><span class=\"f charStyle-bed55b1c ps34632\" style=\"width:23.72pt\">swaps</span><span class=\"f charStyle-5064d44f ps34633\" style=\"width:91.97pt\"> de taux d\u2019int\u00e9r\u00eat pour</span><span class=\"f charStyle-5064d44f ps415\" style=\"width:1.89pt\"> </span></div><div class=\"ps873 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps275\" style=\"width:44.9pt\">convertir le </span><span class=\"f charStyle-165dec60 ps20548\" style=\"width:184.35pt\">taux contractuel de la dette en un taux variable</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps874 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.05pt\">ou fixe. La </span><span class=\"f charStyle-81f42323 ps22029\" style=\"width:189.21pt\">tr\u00e9sorerie et les \u00e9quivalents de tr\u00e9sorerie sont plac\u00e9s</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps875 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:229.31pt\">aussi bien \u00e0 taux fixe qu'\u00e0 taux variable. La dette financi\u00e8re est</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps275\" style=\"width:59.02pt\">majoritairement</span><span class=\"f charStyle-165dec60 ps34634\" style=\"width:62.27pt\"> \u00e0 taux fixe\u00a0: au </span><span class=\"f charStyle-165dec60 ps34635\" style=\"width:69.28pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps14259\" style=\"width:38.71pt\">, 82 % des</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">dettes financi\u00e8res \u00e0 long terme (part \u00e0 plus d\u2019un an) sont \u00e0</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">taux fixe, ratio en augmentation par rapport \u00e0 celui de l'an</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:28.81pt\">dernier.</span></div><div class=\"ps2729 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">Une filiale japonaise du Groupe a mis en place un</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps884 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">financement pour l'une de ses filiales en roupies</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps887 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.26pt\">indon\u00e9siennes. Afin de se couvrir contre les risques de taux</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps888 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">et de change li\u00e9s \u00e0 ce financement, celle-ci a contract\u00e9 deux</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps2115 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.33pt\">cross currency swaps d'un montant notionnel de 4 milliards</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps16141 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.29pt\">de yens japonais, adoss\u00e9s en terme de maturit\u00e9.Ces d\u00e9riv\u00e9s</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps16144 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">ne sont pas d\u00e9sign\u00e9s dans une relation de couverture</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps16145 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:42.62pt\">comptable.</span></div><div class=\"ps16146 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:110.87pt\">La tranche \u00e0 taux variable du </span><span class=\"f charStyle-e8054d08 ps34636\" style=\"width:50.59pt\">Schuldschein</span><span class=\"f charStyle-165dec60 ps34637\" style=\"width:67.8pt\"> \u00e9mis en avril 2019</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps16149 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:8.04pt\">a </span><span class=\"f charStyle-81f42323 ps21418\" style=\"width:78.71pt\">\u00e9t\u00e9 couverte par un </span><span class=\"f charStyle-a702cc9d ps34638\" style=\"width:19.69pt\">swap</span><span class=\"f charStyle-81f42323 ps34639\" style=\"width:122.88pt\"> de taux qui \u00e9change le coupon</span><span class=\"f charStyle-81f42323 ps639\" style=\"width:1.78pt\"> </span></div><div class=\"ps34645 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28.09pt\">variable</span><span class=\"f charStyle-165dec60 ps34640\" style=\"width:2.49pt\"> </span><span class=\"f charStyle-81f42323 ps34641\" style=\"width:69.71pt\">contre un taux fixe.</span><span class=\"f charStyle-81f42323 ps34642\" style=\"width:80.38pt\">\u00a0Cet instrument a \u00e9t\u00e9 </span><span class=\"f charStyle-81f42323 ps34643\" style=\"width:28.75pt\">d\u00e9sign\u00e9</span><span class=\"f charStyle-81f42323 ps34644\" style=\"width:19.82pt\"> dans</span><span class=\"f charStyle-81f42323 ps719\" style=\"width:1.78pt\"> </span></div><div class=\"ps30240 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:44.08pt\">une relation</span><span class=\"f charStyle-165dec60 ps34646\" style=\"width:78.76pt\"> de couverture type </span><span class=\"f charStyle-e8054d08 ps34647\" style=\"width:106.49pt\">cash-flow hedge, laquelle a</span><span class=\"f charStyle-e8054d08 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps30241 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e8054d08 ps448\" style=\"width:58.14pt\">pris fin en 2025.</span></div><div class=\"ps12593 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:23.47pt\">Deux </span><span class=\"f charStyle-e8054d08 ps34648\" style=\"width:24.07pt\">swaps</span><span class=\"f charStyle-165dec60 ps34649\" style=\"width:181.78pt\"> de taux d'int\u00e9r\u00eat pour un montant global de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps34650 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.24pt\">600\u00a0millions d'euros ont \u00e9t\u00e9 mis en place en novembre 2022</span><span class=\"f charStyle-165dec60 ps719\" style=\"width:1.96pt\"> </span></div><div class=\"ps34651 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">pour variabiliser partiellement les int\u00e9r\u00eats de l'emprunt</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps30859 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.27pt\">EMTN de 750 millions d'euros \u00e9mis concomitamment. Ces</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps29522 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.32pt\">instruments ont \u00e9t\u00e9 d\u00e9sign\u00e9s dans une relation de</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:73.36pt\">couverture de type </span><span class=\"f charStyle-e8054d08 ps1025\" style=\"width:61.61pt\">fair value hedge</span><span class=\"f charStyle-165dec60 ps34652\" style=\"width:1.59pt\">.</span></div><div class=\"ps34665 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:156pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td rowspan=\"2\" style=\"border-bottom:1pt solid #4b788c;padding:0\"><div class=\"ps1 ss1944\"><div><div class=\"ps10309 ss1943\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30404 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-6bef0edd ps34451\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss669\"><div><div class=\"ps509 ss668\"><span class=\"f charStyle-ae6044e9 ps34653\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30405 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #c6c6c6;padding:0\"><div class=\"ps30407 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34654\">Nominal<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps34655\">Juste valeur<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-373e86b9 ps10\">Swaps </span><span class=\"f charStyle-044fe383 ps31087\">de taux\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Emprunt en roupie indon\u00e9sienne </span><span class=\"f charStyle-4da12822 ps34656\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30414 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.36pt\"></span></span><span class=\"ps1541\">22<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30416 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.66pt\"></span></span><span class=\"ps28423\">24<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.7pt\"></span></span><span class=\"ps27888\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps511\">Placement priv\u00e9 </span><span class=\"f charStyle-373e86b9 ps34657\">Schuldschein<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30417 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30419 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.36pt\"></span></span><span class=\"ps27754\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.69pt\"></span></span><span class=\"ps34658\">123<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:72.16pt\"></span></span><span class=\"ps28365\">1<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383\"><span class=\"ps511\">EMTN \u00e9ch\u00e9ance 2027<span style=\"display:inline-block;height:7.26pt;width:27.06pt\"></span></span><span class=\"ps34659\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span><span class=\"ps34660\"><span style=\"display:inline-block;height:7.26pt;width:36pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30421 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30422 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.64pt\"></span></span><span class=\"ps34661\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.38pt\"></span></span><span class=\"ps27877\">600<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps1114 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.62pt\"></span></span><span class=\"ps34662\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3789 ss1945\"><div><div class=\"ps746 ss1943\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30425 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.02pt\"></span></span><span class=\"ps34663\">622<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps30427 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.37pt\"></span></span><span class=\"ps19146\">2<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.13pt\"></span></span><span class=\"ps30949\">747<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.31pt\"></span></span><span class=\"ps34664\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34668 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:405.78pt\">Les nominaux des cross-currency swaps sont ceux de la jambe en JPY contre-valoris\u00e9s aux taux de change du 31 d\u00e9cembre </span><span class=\"f charStyle-776a1ec6 ps34666\" style=\"width:15.35pt\">2025</span><span class=\"f charStyle-776a1ec6 ps34667\" style=\"width:1.37pt\">.</span></div></div><div class=\"ps7302 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de l\u2019exposition n<span id=\"i545268519cd045d99c70f1f2a46a25f9\"></span></span><span class=\"f charStyle-aa33f529 ps34669\">ette du Groupe</span></div><div class=\"ps15337 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:481.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, la position nette du Groupe en mati\u00e8re de taux d\u2019int\u00e9r\u00eat, sur la base des valeurs nominales, s\u2019analyse</span></span><span class=\"f charStyle-61077b09 ps8343\" style=\"width:1.87pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps15338 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-61077b09 ps275\" style=\"width:47.53pt\"><span style=\"background-color:inherit\">comme\u00a0suit\u00a0:</span></span></div><div class=\"ps34670 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"i7c1caff05389438598ff69b9c06bc3af\"></span></span><span class=\"f charStyle-237149eb ps2446\">2025</span></div><div class=\"ps34754 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps34671\">Moins d'un an<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps16613\">Un \u00e0 cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-ae6044e9 ps96\">Plus de cinq ans<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-ae6044e9 ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-ae6044e9 ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Passifs financiers<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.71pt\"></span></span><span class=\"ps34683\">931<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.52pt\"></span></span><span class=\"ps34685\">200<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.42pt\"></span></span><span class=\"ps16443\">3\u00a0703<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.53pt\"></span></span><span class=\"ps34687\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.83pt\"></span></span><span class=\"ps34689\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.09pt\"></span></span><span class=\"ps34692\">5\u00a0989<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.92pt\"></span></span><span class=\"ps6862\">602<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.17pt\"></span></span><span class=\"ps34694\">6\u00a0591<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Pr\u00eats<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats courus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:17.92pt\"></span></span><span class=\"ps34697\">(26)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-044fe383 ps10\">Tr\u00e9sorerie et \u00e9quivalents </span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.97pt\"></span></span><span class=\"ps34270\">(429)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.57pt\"></span></span><span class=\"ps34710\">(2\u00a0052)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.09pt\"></span></span><span class=\"ps34717\">(2\u00a0481)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE AVANT GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.56pt\"></span></span><span class=\"ps34722\">3\u00a0677<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.02pt\"></span></span><span class=\"ps31125\">402<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.11pt\"></span></span><span class=\"ps34728\">5\u00a0508<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:11.25pt\"></span></span><span class=\"ps8726\">(1\u00a0450)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-a696f64a ps10\">Instruments d\u00e9riv\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\">(600)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\">600<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-3f403986 ps10\">POSITION NETTE APR\u00c8S GESTION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.61pt\"></span></span><span class=\"ps34115\">476<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.13pt\"></span></span><span class=\"ps34720\">(1\u00a0852)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.24pt\"></span></span><span class=\"ps34744\">3\u00a0077<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:14.03pt\"></span></span><span class=\"ps34746\">1\u00a0002<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.77pt\"></span></span><span class=\"ps34725\">1\u00a0355<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.1pt\"></span></span><span class=\"ps34750\">4\u00a0908<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:16.52pt\"></span></span><span class=\"ps22390\">(850)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.41pt\"></span></span><span class=\"ps4513\">4\u00a0058<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34755 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-237149eb ps275\">ANN\u00c9E <span id=\"iaa49409005a24d068ec1a1aab477abbb\"></span></span><span class=\"f charStyle-237149eb ps2446\">2024</span></div><div class=\"ps34769 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:145.5pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td><td style=\"padding:0;width:39.75pt\"></td><td style=\"padding:0;width:35.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34672 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps34671\"><span style=\"background-color:inherit\">Moins d'un an</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34673 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps16613\"><span style=\"background-color:inherit\">Un \u00e0 cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10471 ss2179\"><div><div class=\"ps509 ss1956\"><span class=\"f charStyle-dc587d2b ps96\"><span style=\"background-color:inherit\">Plus de cinq ans</span><span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"3\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34674 ss293\"><div><div class=\"ps509 ss292\"><span class=\"f charStyle-6bef0edd ps16639\">Total valeurs nominales<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2181\"><div><div class=\"ps10243 ss2180\"><span class=\"f charStyle-ae837db4 ps10\"><span style=\"background-color:inherit\">(en millions d'euros)</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34676 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33283 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34677 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34678 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16603 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-dc587d2b ps34675\"><span style=\"background-color:inherit\">Fixe</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34679 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-dc587d2b ps24578\"><span style=\"background-color:inherit\">Variable</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps13674 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34675\">Fixe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34680 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-6bef0edd ps24578\">Variable<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34682 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-6bef0edd ps34681\">Total<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Passifs financiers</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34684 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.31pt\"></span></span><span class=\"ps34756\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0910</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps33291 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.78pt\"></span></span><span class=\"ps25365\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">272</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34686 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:11.14pt\"></span></span><span class=\"ps34757\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0413</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34688 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.65pt\"></span></span><span class=\"ps32610\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34690 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:10.05pt\"></span></span><span class=\"ps34758\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34691 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps13685 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:10.8pt\"></span></span><span class=\"ps16452\">6\u00a0413<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34693 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\">649<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34695 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.05pt\"></span></span><span class=\"ps11361\">7\u00a0062<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Pr\u00eats</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34696 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33298 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34698 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(25)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34699 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16614 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34700 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13697 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34701 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34702 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.24pt\"></span></span><span class=\"ps32127\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Int\u00e9r\u00eats courus</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34703 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(32)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33304 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34704 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34705 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16623 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34706 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13707 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34707 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34708 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:18.26pt\"></span></span><span class=\"ps34760\">(32)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2182\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">Tr\u00e9sorerie et \u00e9quivalents </span></span></div><div class=\"ps748 ss2180\"><span class=\"f charStyle-68ecf294 ps10\"><span style=\"background-color:inherit\">de\u00a0tr\u00e9sorerie</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34709 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(788)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33312 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0365)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34711 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34712 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34713 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34714 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34715 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.76pt\"></span></span><span class=\"ps10640\">(788)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34716 ss278\"><div><div class=\"ps516 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12pt\"></span></span><span class=\"ps34761\">(2\u00a0365)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34718 ss1089\"><div><div class=\"ps516 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:9.39pt\"></span></span><span class=\"ps399\">(3\u00a0153)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE AVANT GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34719 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34721 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.85pt\"></span></span><span class=\"ps34763\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0093</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34723 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.29pt\"></span></span><span class=\"ps32226\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">3\u00a0388</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34724 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.95pt\"></span></span><span class=\"ps23575\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">377</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34726 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34727 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34729 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.43pt\"></span></span><span class=\"ps34764\">5\u00a0568<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34730 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:13.6pt\"></span></span><span class=\"ps10774\">(1\u00a0716)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34731 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-e38b03d6 ps10\"><span style=\"background-color:inherit\">Instruments d\u00e9riv\u00e9s</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34732 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:17.99pt\"></span></span><span class=\"ps34765\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">122</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34733 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:20.03pt\"></span></span><span class=\"ps25428\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(122)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34735 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.25pt\"></span></span><span class=\"ps34734\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(600)</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34736 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.21pt\"></span></span><span class=\"ps28961\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">600</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34737 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34738 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-e38b03d6\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34739 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.59pt\"></span></span><span class=\"ps34766\">(478)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34740 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:19.55pt\"></span></span><span class=\"ps4561\">478<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34741 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:21.69pt\"></span></span><span class=\"ps32138\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2181\"><div><div class=\"ps746 ss2180\"><span class=\"f charStyle-12aad796 ps10\"><span style=\"background-color:inherit\">POSITION NETTE APR\u00c8S GESTION</span><span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34742 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.35pt\"></span></span><span class=\"ps26354\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0212</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34743 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:12.66pt\"></span></span><span class=\"ps10515\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">(2\u00a0215)</span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34745 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:8.1pt\"></span></span><span class=\"ps34767\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">2\u00a0788</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34747 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:19.62pt\"></span></span><span class=\"ps34759\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">977</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34748 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:9.18pt\"></span></span><span class=\"ps34762\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">1\u00a0090</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34749 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-12aad796\"><span class=\"ps10\" style=\"background-color:inherit\"><span style=\"background-color:inherit\"></span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:26.19pt\"></span></span><span class=\"ps31079\" style=\"background-color:inherit\"><span style=\"background-color:inherit\">\u2014</span><span style=\"background-color:inherit;display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34751 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:7.66pt\"></span></span><span class=\"ps34768\">5\u00a0090<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34752 ss405\"><div><div class=\"ps509 ss208\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:12.15pt\"></span></span><span class=\"ps28900\">(1\u00a0238)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34753 ss2016\"><div><div class=\"ps509 ss1082\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:8.8pt\"></span></span><span class=\"ps10508\">3\u00a0852<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps11713 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Les passifs financiers se composent principalement du nominal des dettes long terme, des financements court terme, des</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps11714 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:183.04pt\">dettes sur biens lou\u00e9s et des concours bancaires.</span></div><div class=\"ps34770 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-aa33f529 ps275\">Analyse de sensibilit\u00e9 au risque de taux<span id=\"ic9e6dd87aba1437f8fc6bf5d5d0cda90\"></span></span></div><div class=\"ps19414 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:240.37pt\">L\u2019essentiel de la dette financi\u00e8re \u00e0 long terme est \u00e0 taux fixe au </span><span class=\"f charStyle-165dec60 ps34771\" style=\"width:67.94pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34772\" style=\"width:173.03pt\">. Les dettes \u00e0 taux fixe comptabilis\u00e9es au co\u00fbt</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps19415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.31pt\">amorti ne rentrent pas dans le calcul de la sensibilit\u00e9 au risque de taux. L\u2019exposition du Groupe au risque de taux est donc</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:158.14pt\">limit\u00e9e \u00e0\u00a0son endettement \u00e0 taux variable.</span></div><div class=\"ps14148 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.29pt\">Ainsi une hausse instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat appliqu\u00e9e aux actifs et passifs financiers \u00e0 taux variable aurait les impacts</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps19417 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:466.13pt\">suivants sur le r\u00e9sultat et les autres \u00e9l\u00e9ments du r\u00e9sultat global, apr\u00e8s prise en compte des produits d\u00e9riv\u00e9s et avant imp\u00f4ts\u00a0:</span></div><div class=\"ps34789 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:177.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td><td style=\"padding:0;width:75.75pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"background-color:#2c567a;border-bottom:0.5pt solid #ffffff;padding:0\"><div class=\"ps34774 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-6bef0edd ps28487\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34775 ss2184\"><div><div class=\"ps509 ss2183\"><span class=\"f charStyle-ae6044e9 ps29910\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2186\"><div><div class=\"ps16333 ss2185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34777 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #ffffff;padding:0\"><div class=\"ps34780 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-6bef0edd ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-6bef0edd ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34781 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps403\">R\u00e9sultat Gains/<span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34776\">(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34782 ss2187\"><div><div class=\"ps509 ss808\"><span class=\"f charStyle-ae6044e9 ps34778\">Capitaux propres <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss808\"><span class=\"f charStyle-ae6044e9 ps34779\">Gain/(Pertes)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps749 ss2188\"><div><div class=\"ps746 ss2185\"><span class=\"f charStyle-044fe383 ps10\">Impact d'une variation de +\u00a01 % des taux </span></div><div class=\"ps748 ss2185\"><span class=\"f charStyle-044fe383 ps10\">d'int\u00e9r\u00eats</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34784 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.89pt\"></span></span><span class=\"ps34783\">(9)</span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34785 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34787 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.5pt\"></span></span><span class=\"ps34786\">(12)</span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34788 ss809\"><div><div class=\"ps6851 ss808\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:62.41pt\"></span></span><span class=\"ps5760\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.91pt\">\u00c0 fin </span><span class=\"f charStyle-165dec60 ps5054\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps34589\" style=\"width:389.62pt\">, une diminution instantan\u00e9e de 1\u00a0% des taux d\u2019int\u00e9r\u00eat aurait eu un impact favorable du m\u00eame montant.</span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-531": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.5<span id=\"i8958087fa6d34bad9debe10caf97dc41\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps27028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.27pt\">Les placements long terme s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34814\" style=\"width:44.29pt\">272 millions</span><span class=\"f charStyle-165dec60 ps34815\" style=\"width:19.92pt\"> \u00e0 fin </span><span class=\"f charStyle-165dec60 ps34816\" style=\"width:58.58pt\">d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps17656\" style=\"width:101.7pt\"> et ont \u00e9volu\u00e9 comme suit\u00a0:</span></div><div class=\"ps34821 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 1</span><span class=\"f charStyle-f4bb8995 ps34817\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps34818\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">321<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en capitaux propres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les fonds communs de placement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.56pt\"></span></span><span class=\"ps34819\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:334.22pt\">Ils sont principalement compos\u00e9s des titres de participations dans les soci\u00e9t\u00e9s suivantes\u00a0:</span></div><div class=\"ps34830 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.45pt\"></span></span><span class=\"ps34823\">52<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine II<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.46pt\"></span></span><span class=\"ps34825\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">41<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund II (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund III (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Iris Capital<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.28pt\"></span></span><span class=\"ps34827\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.74pt\"></span></span><span class=\"ps28147\">24<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aledia</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Autres placements long terme\u00a0</span><span class=\"f charStyle-4da12822 ps34828\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.14pt\"></span></span><span class=\"ps34829\">56<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:466.99pt\">Autres participations dans des fonds d\u2019investissement et des soci\u00e9t\u00e9s sur lesquelles Valeo n\u2019exerce ni contr\u00f4le ni influence notable dont la</span><span class=\"f charStyle-776a1ec6 ps1288\" style=\"width:1.7pt\"> </span></div><div class=\"ps34832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:168.03pt\">valeur individuelle n'exc\u00e8de pas 20 millions d\u2019euros.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-530": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.5<span id=\"i8958087fa6d34bad9debe10caf97dc41\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps27028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.27pt\">Les placements long terme s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34814\" style=\"width:44.29pt\">272 millions</span><span class=\"f charStyle-165dec60 ps34815\" style=\"width:19.92pt\"> \u00e0 fin </span><span class=\"f charStyle-165dec60 ps34816\" style=\"width:58.58pt\">d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps17656\" style=\"width:101.7pt\"> et ont \u00e9volu\u00e9 comme suit\u00a0:</span></div><div class=\"ps34821 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 1</span><span class=\"f charStyle-f4bb8995 ps34817\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps34818\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">321<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en capitaux propres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les fonds communs de placement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.56pt\"></span></span><span class=\"ps34819\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:334.22pt\">Ils sont principalement compos\u00e9s des titres de participations dans les soci\u00e9t\u00e9s suivantes\u00a0:</span></div><div class=\"ps34830 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.45pt\"></span></span><span class=\"ps34823\">52<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine II<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.46pt\"></span></span><span class=\"ps34825\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">41<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund II (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund III (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Iris Capital<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.28pt\"></span></span><span class=\"ps34827\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.74pt\"></span></span><span class=\"ps28147\">24<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aledia</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Autres placements long terme\u00a0</span><span class=\"f charStyle-4da12822 ps34828\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.14pt\"></span></span><span class=\"ps34829\">56<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:466.99pt\">Autres participations dans des fonds d\u2019investissement et des soci\u00e9t\u00e9s sur lesquelles Valeo n\u2019exerce ni contr\u00f4le ni influence notable dont la</span><span class=\"f charStyle-776a1ec6 ps1288\" style=\"width:1.7pt\"> </span></div><div class=\"ps34832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:168.03pt\">valeur individuelle n'exc\u00e8de pas 20 millions d\u2019euros.</span></div><div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.6<span id=\"i02f9825d39ff44dda31d9726a8498fd8\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps34833\"><span style=\"display:inline-block;height:8.71pt;width:14.34pt\"></span></span><span class=\"ps29285\">Dettes fournisseurs</span></span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:86.54pt\">inf\u00e9rieures \u00e0 trois mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps34836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.55pt\"><span style=\"background-color:inherit\">Valeo a mis en place un programme de </span></span><span class=\"f charStyle-bec71f61 ps34835\" style=\"width:65.76pt\"><span style=\"background-color:inherit\">reverse factoring</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:31.05pt\"><span style=\"background-color:inherit\">ouvert </span></span><span class=\"f charStyle-812c0546 ps34837\" style=\"width:198.23pt\"><span style=\"background-color:inherit\">\u00e0 ses fournisseurs partout dans le monde. Ce</span></span><span class=\"f charStyle-812c0546 ps610\" style=\"width:1.9pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-812c0546 ps275\" style=\"width:76.84pt\"><span style=\"background-color:inherit\">programme permet</span></span><span class=\"f charStyle-68ecf294 ps34838\" style=\"width:152.49pt\"><span style=\"background-color:inherit\"> aux fournisseurs y adh\u00e9rant de c\u00e9der</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34840 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">leurs cr\u00e9ances vis\u2011\u00e0-vis de Valeo avant la date d'\u00e9ch\u00e9ance \u00e0</span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:183.83pt\"><span style=\"background-color:inherit\">un \u00e9tablissement financier, \u00e9galement appel\u00e9 \u00ab\u00a0</span></span><span class=\"f charStyle-bec71f61 ps34841\" style=\"width:22.58pt\"><span style=\"background-color:inherit\">factor</span></span><span class=\"f charStyle-68ecf294 ps34842\" style=\"width:22.86pt\"><span style=\"background-color:inherit\">\u00a0\u00bb. Les</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps26820 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:126.07pt\"><span style=\"background-color:inherit\">relations entre les parties sont </span></span><span class=\"f charStyle-5a0e0c8b ps34843\" style=\"width:103.25pt\"><span style=\"background-color:inherit\">structur\u00e9es au travers de la</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-5a0e0c8b ps431\" style=\"width:1.69pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps26822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5a0e0c8b ps275\" style=\"width:148.27pt\"><span style=\"background-color:inherit\">signature de deux contrats ind\u00e9pendants\u00a0:</span></span></div><div class=\"ps34844 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ed1e3357 ps275\" style=\"width:2.5pt\"><span style=\"background-color:inherit\">\u2022</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:222.22pt\"><span style=\"background-color:inherit\">les fournisseurs de Valeo entrent dans un contrat leur</span></span><span class=\"f charStyle-7b89e0e3 ps418\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34847 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:89.03pt\"><span style=\"background-color:inherit\">permettant de c\u00e9der au </span></span><span class=\"f charStyle-97107530 ps34845\" style=\"width:21.5pt\"><span style=\"background-color:inherit\">factor</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps34846\" style=\"width:111.66pt\"><span style=\"background-color:inherit\"> des cr\u00e9ances qu'ils d\u00e9tiennent</span></span><span class=\"f charStyle-7b89e0e3 ps610\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:33.52pt\"><span style=\"background-color:inherit\">sur Valeo</span></span><span class=\"f charStyle-97107530 ps34848\" style=\"width:3.78pt\"><span style=\"background-color:inherit\">. </span></span><span class=\"f charStyle-7b89e0e3 ps34849\" style=\"width:184.9pt\"><span style=\"background-color:inherit\">La d\u00e9cision de cession est \u00e0 l'enti\u00e8re discr\u00e9tion des</span></span><span class=\"f charStyle-7b89e0e3 ps425\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:172.6pt\"><span style=\"background-color:inherit\">fournisseurs qui en supportent le co\u00fbt financier ;</span></span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-90feeb7b ps275\" style=\"width:2.68pt\"><span style=\"background-color:inherit\">\u2022</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps626\" style=\"width:222.18pt\"><span style=\"background-color:inherit\">Valeo signe une convention selon laquelle il s'engage \u00e0</span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps626\" style=\"width:24.32pt\"><span style=\"background-color:inherit\">payer </span></span><span class=\"f charStyle-fa396791 ps34850\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-b8d80083 ps34851\" style=\"width:22.22pt\"><span style=\"background-color:inherit\">factor</span></span><span class=\"f charStyle-fa396791 ps34852\" style=\"width:163.19pt\"><span style=\"background-color:inherit\"> les factures des fournisseurs \u00e0 leurs dates</span></span><span class=\"f charStyle-fa396791 ps412\" style=\"width:1.9pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-fa396791 ps626\" style=\"width:44.48pt\"><span style=\"background-color:inherit\">d'\u00e9ch\u00e9ance </span></span><span class=\"f charStyle-68ecf294 ps34853\" style=\"width:51.42pt\"><span style=\"background-color:inherit\">contractuelle.</span></span></div><div class=\"ps34836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:113.11pt\"><span style=\"background-color:inherit\">Les cr\u00e9ances acquises par le </span></span><span class=\"f charStyle-bec71f61 ps34854\" style=\"width:25.62pt\"><span style=\"background-color:inherit\">factor </span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps34855\" style=\"width:90.59pt\"><span style=\"background-color:inherit\">via ce programme sont</span></span><span class=\"f charStyle-68ecf294 ps639\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-38f015fa ps448\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">r\u00e9parties au sein d'un syndicat regroupant plusieurs</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-38f015fa ps458\" style=\"width:1.77pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps34839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-38f015fa ps448\" style=\"width:54.53pt\"><span style=\"background-color:inherit\">\u00e9tablissements</span></span><span class=\"f charStyle-68ecf294 ps34856\" style=\"width:174.77pt\"><span style=\"background-color:inherit\"> financiers (au nombre de cinq au</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34840 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34857\" style=\"width:34.36pt\"><span style=\"background-color:inherit\">), dont le </span></span><span class=\"f charStyle-bec71f61 ps34858\" style=\"width:24.54pt\"><span style=\"background-color:inherit\">factor </span></span><span class=\"f charStyle-68ecf294 ps34859\" style=\"width:38.47pt\"><span style=\"background-color:inherit\">lui-m\u00eame.</span></span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.25pt\"><span style=\"background-color:inherit\">Le Groupe a \u00e9galement mis en place deux programmes de</span></span><span class=\"f charStyle-68ecf294 ps689\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps448\" style=\"width:66.02pt\"><span style=\"background-color:inherit\">reverse factoring </span></span><span class=\"f charStyle-68ecf294 ps34860\" style=\"width:62.38pt\"><span style=\"background-color:inherit\">locaux au Japon.</span><span class=\"f ps53\"> </span></span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-09a13f6a ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">Compte tenu des caract\u00e9ristiques de ces programmes, ces</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-09a13f6a ps467\" style=\"width:1.82pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-09a13f6a ps448\" style=\"width:30.39pt\"><span style=\"background-color:inherit\">cessions</span></span><span class=\"f charStyle-68ecf294 ps34861\" style=\"width:198.9pt\"><span style=\"background-color:inherit\"> ne modifient pas en substance la nature des passifs</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.32pt\"><span style=\"background-color:inherit\">concern\u00e9s. L'ensemble des dettes incluses dans ces</span></span><span class=\"f charStyle-68ecf294 ps639\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">programmes sont donc pr\u00e9sent\u00e9es au sein des dettes</span></span><span class=\"f charStyle-68ecf294 ps458\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:220.8pt\"><span style=\"background-color:inherit\">fournisseurs, qu'elles aient fait l'objet ou non d'une cession.</span></span></div><div class=\"ps34863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:284.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, les montants des passifs concern\u00e9s sont les suivants :</span></span><span class=\"f charStyle-68ecf294 ps34862\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34875 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:321pt\"></td><td style=\"padding:0;width:79.5pt\"></td><td style=\"padding:0;width:79.5pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss658\"><div><div class=\"ps10243 ss185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10245 ss654\"><div><div class=\"ps509 ss645\"><span class=\"f charStyle-6bef0edd ps34864\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10136 ss654\"><div><div class=\"ps509 ss645\"><span class=\"f charStyle-ae6044e9 ps34865\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss660\"><div><div class=\"ps746 ss185\"><span class=\"f charStyle-a696f64a ps10\">Dettes fournisseurs pour lesquelles les fournisseurs ont souscrit aux accords <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss185\"><span class=\"f charStyle-a696f64a ps10\">d'affacturage\u00a0invers\u00e9<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16510 ss651\"><div><div class=\"ps516 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.09pt\"></span></span><span class=\"ps33358\">825<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10146 ss651\"><div><div class=\"ps516 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.07pt\"></span></span><span class=\"ps34866\">864<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-6bfccbf4 ps16818\">Dont dettes c\u00e9d\u00e9es par les fournisseurs au factor<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16549 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.95pt\"></span></span><span class=\"ps34867\">435<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34869 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.3pt\"></span></span><span class=\"ps34868\">471<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10163 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes fournisseurs d\u2019exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34870 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">4\u00a0273<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10177 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.73pt\"></span></span><span class=\"ps25912\">4\u00a0518<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps8549 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-96b05324 ps10\">DETTES FOURNISSEURS D'EXPLOITATION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34872 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.63pt\"></span></span><span class=\"ps34871\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34874 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.61pt\"></span></span><span class=\"ps34873\">5\u00a0382<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.27pt\">\u00c0 fin 2025, le d\u00e9lai de paiement moyen des dettes fournisseurs se situe entre 100 et 150 jours selon les r\u00e9gions du monde dans</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps34877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">lesquelles le Groupe op\u00e8re contre un d\u00e9lai moyen compris entre 120 et 150 jours pour les fournisseurs ayant souscrit aux accords</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">d\u2019affacturage invers\u00e9 dans ces m\u00eames r\u00e9gions. Au niveau du Groupe, le d\u00e9lai de paiement moyen des dettes fournisseurs se</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps34879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">situe autour de 120 jours. Ce d\u00e9lai est globalement sup\u00e9rieur d\u2019environ 10 jours pour les fournisseurs ayant souscrit aux accords</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.38pt\">d\u2019affacturage invers\u00e9.</span><span class=\"f charStyle-165dec60 ps34880\" style=\"width:1.96pt\"> </span></div><div class=\"ps34882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:267.66pt\">Ces d\u00e9lais de paiement sont comparables par rapport \u00e0 ceux \u00e0 fin 2024.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-529": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.5<span id=\"i8958087fa6d34bad9debe10caf97dc41\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps27028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.27pt\">Les placements long terme s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34814\" style=\"width:44.29pt\">272 millions</span><span class=\"f charStyle-165dec60 ps34815\" style=\"width:19.92pt\"> \u00e0 fin </span><span class=\"f charStyle-165dec60 ps34816\" style=\"width:58.58pt\">d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps17656\" style=\"width:101.7pt\"> et ont \u00e9volu\u00e9 comme suit\u00a0:</span></div><div class=\"ps34821 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 1</span><span class=\"f charStyle-f4bb8995 ps34817\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps34818\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">321<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en capitaux propres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les fonds communs de placement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.56pt\"></span></span><span class=\"ps34819\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:334.22pt\">Ils sont principalement compos\u00e9s des titres de participations dans les soci\u00e9t\u00e9s suivantes\u00a0:</span></div><div class=\"ps34830 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.45pt\"></span></span><span class=\"ps34823\">52<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine II<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.46pt\"></span></span><span class=\"ps34825\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">41<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund II (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund III (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Iris Capital<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.28pt\"></span></span><span class=\"ps34827\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.74pt\"></span></span><span class=\"ps28147\">24<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aledia</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Autres placements long terme\u00a0</span><span class=\"f charStyle-4da12822 ps34828\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.14pt\"></span></span><span class=\"ps34829\">56<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:466.99pt\">Autres participations dans des fonds d\u2019investissement et des soci\u00e9t\u00e9s sur lesquelles Valeo n\u2019exerce ni contr\u00f4le ni influence notable dont la</span><span class=\"f charStyle-776a1ec6 ps1288\" style=\"width:1.7pt\"> </span></div><div class=\"ps34832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:168.03pt\">valeur individuelle n'exc\u00e8de pas 20 millions d\u2019euros.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-528": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.5<span id=\"i8958087fa6d34bad9debe10caf97dc41\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps30722\"><span style=\"display:inline-block;height:8.71pt;width:14.72pt\"></span></span></span><span class=\"f charStyle-b11f9a65 ps29285\">Autres actifs et passifs financiers<span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:217.98pt\">Les autres actifs et passifs financiers se composent</span><span class=\"f charStyle-e64cbdd5 ps431\" style=\"width:1.64pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e64cbdd5 ps6588\" style=\"width:58.9pt\">principalement </span><span class=\"f charStyle-cea761f8 ps34793\" style=\"width:159.04pt\">des \u00e9l\u00e9ments courants et non courants</span><span class=\"f charStyle-cea761f8 ps610\" style=\"width:1.78pt\"> </span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps6588\" style=\"width:32.71pt\">suivants :</span></div><div class=\"ps32462 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:200.33pt\">les d\u00e9p\u00f4ts de garantie, comptabilis\u00e9s au co\u00fbt amorti ;<span class=\"f ps53\"> </span></span></div><div class=\"ps4014 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:101.79pt\">les instruments d\u00e9riv\u00e9s (cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34794\" style=\"width:35.71pt\">Note 9.1.4</span><span class=\"f charStyle-165dec60 ps34795\" style=\"width:70.02pt\">, pages 433 \u00e0 438)\u00a0;</span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:102.14pt\">les placements long terme.</span><span class=\"f charStyle-165dec60 ps34796\" style=\"width:1.96pt\"> </span></div><div class=\"ps32030 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">Les placements long terme regroupent essentiellement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps32031 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">les titres de participation dans des soci\u00e9t\u00e9s non</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">consolid\u00e9es ainsi que les investissements dans des fonds</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">communs de placement. Ces placements sont \u00e9valu\u00e9s \u00e0<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34799 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:53.32pt\">la juste valeur.</span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.92pt\">Les variations de juste valeur des titres de participation</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">dans des soci\u00e9t\u00e9s non consolid\u00e9es sont constat\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">r\u00e9sultat, sauf si les titres ne sont ni d\u00e9tenus \u00e0 des fins de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:46.32pt\">transaction <span class=\"f ps53\"> </span></span><span class=\"f charStyle-c709af45 ps34801\" style=\"width:171.67pt\">ni une contrepartie \u00e9ventuelle comptabilis\u00e9e</span><span class=\"f charStyle-c709af45 ps412\" style=\"width:1.87pt\"> </span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-c709af45 ps6588\" style=\"width:72.41pt\">par un acqu\u00e9reur</span><span class=\"f charStyle-165dec60 ps34803\" style=\"width:6.19pt\"> </span><span class=\"f charStyle-49b0b1fa ps34804\" style=\"width:139.36pt\">dans le cadre d'un regroupement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-49b0b1fa ps608\" style=\"width:1.84pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29452 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-49b0b1fa ps448\" style=\"width:116.74pt\">d'entreprises. Dans ce cas, le </span><span class=\"f charStyle-165dec60 ps34806\" style=\"width:5.79pt\">G<span class=\"f ps53\"> </span></span><span class=\"f charStyle-bd02d35c ps34807\" style=\"width:95.4pt\">roupe peut faire le choix</span><span class=\"f charStyle-bd02d35c ps16299\" style=\"width:1.76pt\"> </span></div><div class=\"ps29453 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bd02d35c ps448\" style=\"width:143.34pt\">irr\u00e9vocable, lors de la comptabilisation</span><span class=\"f charStyle-165dec60 ps34808\" style=\"width:74.59pt\"> initiale de chaque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29454 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:153.56pt\">titre, de pr\u00e9senter les variations futures </span><span class=\"f charStyle-367d076b ps34809\" style=\"width:64.41pt\">de la juste valeur</span><span class=\"f charStyle-367d076b ps16278\" style=\"width:1.88pt\"> </span></div><div class=\"ps29455 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:163.32pt\">dans les autres \u00e9l\u00e9ments du r\u00e9sultat global, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34810\" style=\"width:54.64pt\">et de constater</span><span class=\"f charStyle-81f42323 ps16295\" style=\"width:1.78pt\"> </span></div><div class=\"ps29456 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:172.37pt\">le produit du dividende en r\u00e9sultat. Cette option</span><span class=\"f charStyle-165dec60 ps34811\" style=\"width:45.55pt\"> retenue, les</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps29457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">gains et pertes latents constat\u00e9s en Autres \u00e9l\u00e9ments du</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps30597 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">r\u00e9sultat global ne seront jamais reconnus au compte de</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30598 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:165.47pt\">r\u00e9sultat, y compris lors de la vente des titres.</span><span class=\"f charStyle-165dec60 ps34812\" style=\"width:1.96pt\"> </span></div><div class=\"ps29463 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">Les fonds communs de placement ne b\u00e9n\u00e9ficient pas de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps29464 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">l\u2019option disponible pour les instruments de capitaux</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29242 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">propres d\u00e9crite ci-dessus. \u00c0 ce titre, les variations de la</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps29243 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">juste valeur seront enregistr\u00e9es par le biais du compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps15080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">r\u00e9sultat consolid\u00e9 en \u00ab\u00a0Autres produits et charges</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps15081 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:43.65pt\">financiers\u00a0\u00bb.</span></div><div class=\"ps4026 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Pour les titres cot\u00e9s sur un march\u00e9 actif, la juste valeur</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps4028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:121.93pt\">correspond \u00e0 la valeur boursi\u00e8re.</span></div><div class=\"ps27028 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:146.27pt\">Les placements long terme s\u2019\u00e9l\u00e8vent \u00e0 </span><span class=\"f charStyle-165dec60 ps34814\" style=\"width:44.29pt\">272 millions</span><span class=\"f charStyle-165dec60 ps34815\" style=\"width:19.92pt\"> \u00e0 fin </span><span class=\"f charStyle-165dec60 ps34816\" style=\"width:58.58pt\">d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps17656\" style=\"width:101.7pt\"> et ont \u00e9volu\u00e9 comme suit\u00a0:</span></div><div class=\"ps34821 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 1</span><span class=\"f charStyle-f4bb8995 ps34817\"><span class=\"f ps53\"> </span><sup>ER</sup></span><span class=\"f charStyle-3f403986 ps34818\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">321<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Cessions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:69.78pt\"></span></span><span class=\"ps30636\">(1)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en capitaux propres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.44pt\"></span></span><span class=\"ps30513\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de juste valeur enregistr\u00e9es en r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:64.01pt\"></span></span><span class=\"ps30653\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:68.23pt\"></span></span><span class=\"ps269\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Dividendes vers\u00e9s par les fonds communs de placement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.92pt\"></span></span><span class=\"ps30637\">(9)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.56pt\"></span></span><span class=\"ps34819\">(13)<span style=\"display:inline-block;height:7.26pt;width:0.22pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:70.7pt\"></span></span><span class=\"ps30635\">5<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:334.22pt\">Ils sont principalement compos\u00e9s des titres de participations dans les soci\u00e9t\u00e9s suivantes\u00a0:</span></div><div class=\"ps34830 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.45pt\"></span></span><span class=\"ps34823\">52<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Hubei Cathay Chine II<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.46pt\"></span></span><span class=\"ps34825\">18<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:67.29pt\"></span></span><span class=\"ps30292\">41<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">78<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund II (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Sino-French Innovation Fund III (Cathay)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.76pt\"></span></span><span class=\"ps33377\">30<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Iris Capital<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.28pt\"></span></span><span class=\"ps34827\">27<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.74pt\"></span></span><span class=\"ps28147\">24<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Aledia</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.73pt\"></span></span><span class=\"ps34826\">20<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Autres placements long terme\u00a0</span><span class=\"f charStyle-4da12822 ps34828\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:65.75pt\"></span></span><span class=\"ps34824\">54<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.14pt\"></span></span><span class=\"ps34829\">56<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PLACEMENTS LONG TERME AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.45pt\"></span></span><span class=\"ps34820\">272<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:63.14pt\"></span></span><span class=\"ps27461\">312<span style=\"display:inline-block;height:7.26pt;width:2.68pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34831 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:466.99pt\">Autres participations dans des fonds d\u2019investissement et des soci\u00e9t\u00e9s sur lesquelles Valeo n\u2019exerce ni contr\u00f4le ni influence notable dont la</span><span class=\"f charStyle-776a1ec6 ps1288\" style=\"width:1.7pt\"> </span></div><div class=\"ps34832 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:168.03pt\">valeur individuelle n'exc\u00e8de pas 20 millions d\u2019euros.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-533": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.6<span id=\"i02f9825d39ff44dda31d9726a8498fd8\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps34833\"><span style=\"display:inline-block;height:8.71pt;width:14.34pt\"></span></span><span class=\"ps29285\">Dettes fournisseurs</span></span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:86.54pt\">inf\u00e9rieures \u00e0 trois mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps34836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.55pt\"><span style=\"background-color:inherit\">Valeo a mis en place un programme de </span></span><span class=\"f charStyle-bec71f61 ps34835\" style=\"width:65.76pt\"><span style=\"background-color:inherit\">reverse factoring</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:31.05pt\"><span style=\"background-color:inherit\">ouvert </span></span><span class=\"f charStyle-812c0546 ps34837\" style=\"width:198.23pt\"><span style=\"background-color:inherit\">\u00e0 ses fournisseurs partout dans le monde. Ce</span></span><span class=\"f charStyle-812c0546 ps610\" style=\"width:1.9pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-812c0546 ps275\" style=\"width:76.84pt\"><span style=\"background-color:inherit\">programme permet</span></span><span class=\"f charStyle-68ecf294 ps34838\" style=\"width:152.49pt\"><span style=\"background-color:inherit\"> aux fournisseurs y adh\u00e9rant de c\u00e9der</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34840 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">leurs cr\u00e9ances vis\u2011\u00e0-vis de Valeo avant la date d'\u00e9ch\u00e9ance \u00e0</span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:183.83pt\"><span style=\"background-color:inherit\">un \u00e9tablissement financier, \u00e9galement appel\u00e9 \u00ab\u00a0</span></span><span class=\"f charStyle-bec71f61 ps34841\" style=\"width:22.58pt\"><span style=\"background-color:inherit\">factor</span></span><span class=\"f charStyle-68ecf294 ps34842\" style=\"width:22.86pt\"><span style=\"background-color:inherit\">\u00a0\u00bb. Les</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps26820 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:126.07pt\"><span style=\"background-color:inherit\">relations entre les parties sont </span></span><span class=\"f charStyle-5a0e0c8b ps34843\" style=\"width:103.25pt\"><span style=\"background-color:inherit\">structur\u00e9es au travers de la</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-5a0e0c8b ps431\" style=\"width:1.69pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps26822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5a0e0c8b ps275\" style=\"width:148.27pt\"><span style=\"background-color:inherit\">signature de deux contrats ind\u00e9pendants\u00a0:</span></span></div><div class=\"ps34844 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ed1e3357 ps275\" style=\"width:2.5pt\"><span style=\"background-color:inherit\">\u2022</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:222.22pt\"><span style=\"background-color:inherit\">les fournisseurs de Valeo entrent dans un contrat leur</span></span><span class=\"f charStyle-7b89e0e3 ps418\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34847 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:89.03pt\"><span style=\"background-color:inherit\">permettant de c\u00e9der au </span></span><span class=\"f charStyle-97107530 ps34845\" style=\"width:21.5pt\"><span style=\"background-color:inherit\">factor</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps34846\" style=\"width:111.66pt\"><span style=\"background-color:inherit\"> des cr\u00e9ances qu'ils d\u00e9tiennent</span></span><span class=\"f charStyle-7b89e0e3 ps610\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:33.52pt\"><span style=\"background-color:inherit\">sur Valeo</span></span><span class=\"f charStyle-97107530 ps34848\" style=\"width:3.78pt\"><span style=\"background-color:inherit\">. </span></span><span class=\"f charStyle-7b89e0e3 ps34849\" style=\"width:184.9pt\"><span style=\"background-color:inherit\">La d\u00e9cision de cession est \u00e0 l'enti\u00e8re discr\u00e9tion des</span></span><span class=\"f charStyle-7b89e0e3 ps425\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:172.6pt\"><span style=\"background-color:inherit\">fournisseurs qui en supportent le co\u00fbt financier ;</span></span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-90feeb7b ps275\" style=\"width:2.68pt\"><span style=\"background-color:inherit\">\u2022</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps626\" style=\"width:222.18pt\"><span style=\"background-color:inherit\">Valeo signe une convention selon laquelle il s'engage \u00e0</span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps626\" style=\"width:24.32pt\"><span style=\"background-color:inherit\">payer </span></span><span class=\"f charStyle-fa396791 ps34850\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-b8d80083 ps34851\" style=\"width:22.22pt\"><span style=\"background-color:inherit\">factor</span></span><span class=\"f charStyle-fa396791 ps34852\" style=\"width:163.19pt\"><span style=\"background-color:inherit\"> les factures des fournisseurs \u00e0 leurs dates</span></span><span class=\"f charStyle-fa396791 ps412\" style=\"width:1.9pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-fa396791 ps626\" style=\"width:44.48pt\"><span style=\"background-color:inherit\">d'\u00e9ch\u00e9ance </span></span><span class=\"f charStyle-68ecf294 ps34853\" style=\"width:51.42pt\"><span style=\"background-color:inherit\">contractuelle.</span></span></div><div class=\"ps34836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:113.11pt\"><span style=\"background-color:inherit\">Les cr\u00e9ances acquises par le </span></span><span class=\"f charStyle-bec71f61 ps34854\" style=\"width:25.62pt\"><span style=\"background-color:inherit\">factor </span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps34855\" style=\"width:90.59pt\"><span style=\"background-color:inherit\">via ce programme sont</span></span><span class=\"f charStyle-68ecf294 ps639\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-38f015fa ps448\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">r\u00e9parties au sein d'un syndicat regroupant plusieurs</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-38f015fa ps458\" style=\"width:1.77pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps34839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-38f015fa ps448\" style=\"width:54.53pt\"><span style=\"background-color:inherit\">\u00e9tablissements</span></span><span class=\"f charStyle-68ecf294 ps34856\" style=\"width:174.77pt\"><span style=\"background-color:inherit\"> financiers (au nombre de cinq au</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34840 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34857\" style=\"width:34.36pt\"><span style=\"background-color:inherit\">), dont le </span></span><span class=\"f charStyle-bec71f61 ps34858\" style=\"width:24.54pt\"><span style=\"background-color:inherit\">factor </span></span><span class=\"f charStyle-68ecf294 ps34859\" style=\"width:38.47pt\"><span style=\"background-color:inherit\">lui-m\u00eame.</span></span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.25pt\"><span style=\"background-color:inherit\">Le Groupe a \u00e9galement mis en place deux programmes de</span></span><span class=\"f charStyle-68ecf294 ps689\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps448\" style=\"width:66.02pt\"><span style=\"background-color:inherit\">reverse factoring </span></span><span class=\"f charStyle-68ecf294 ps34860\" style=\"width:62.38pt\"><span style=\"background-color:inherit\">locaux au Japon.</span><span class=\"f ps53\"> </span></span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-09a13f6a ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">Compte tenu des caract\u00e9ristiques de ces programmes, ces</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-09a13f6a ps467\" style=\"width:1.82pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-09a13f6a ps448\" style=\"width:30.39pt\"><span style=\"background-color:inherit\">cessions</span></span><span class=\"f charStyle-68ecf294 ps34861\" style=\"width:198.9pt\"><span style=\"background-color:inherit\"> ne modifient pas en substance la nature des passifs</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.32pt\"><span style=\"background-color:inherit\">concern\u00e9s. L'ensemble des dettes incluses dans ces</span></span><span class=\"f charStyle-68ecf294 ps639\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">programmes sont donc pr\u00e9sent\u00e9es au sein des dettes</span></span><span class=\"f charStyle-68ecf294 ps458\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:220.8pt\"><span style=\"background-color:inherit\">fournisseurs, qu'elles aient fait l'objet ou non d'une cession.</span></span></div><div class=\"ps34863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:284.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, les montants des passifs concern\u00e9s sont les suivants :</span></span><span class=\"f charStyle-68ecf294 ps34862\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34875 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:321pt\"></td><td style=\"padding:0;width:79.5pt\"></td><td style=\"padding:0;width:79.5pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss658\"><div><div class=\"ps10243 ss185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10245 ss654\"><div><div class=\"ps509 ss645\"><span class=\"f charStyle-6bef0edd ps34864\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10136 ss654\"><div><div class=\"ps509 ss645\"><span class=\"f charStyle-ae6044e9 ps34865\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss660\"><div><div class=\"ps746 ss185\"><span class=\"f charStyle-a696f64a ps10\">Dettes fournisseurs pour lesquelles les fournisseurs ont souscrit aux accords <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss185\"><span class=\"f charStyle-a696f64a ps10\">d'affacturage\u00a0invers\u00e9<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16510 ss651\"><div><div class=\"ps516 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.09pt\"></span></span><span class=\"ps33358\">825<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10146 ss651\"><div><div class=\"ps516 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.07pt\"></span></span><span class=\"ps34866\">864<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-6bfccbf4 ps16818\">Dont dettes c\u00e9d\u00e9es par les fournisseurs au factor<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16549 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.95pt\"></span></span><span class=\"ps34867\">435<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34869 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.3pt\"></span></span><span class=\"ps34868\">471<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10163 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes fournisseurs d\u2019exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34870 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">4\u00a0273<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10177 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.73pt\"></span></span><span class=\"ps25912\">4\u00a0518<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps8549 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-96b05324 ps10\">DETTES FOURNISSEURS D'EXPLOITATION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34872 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.63pt\"></span></span><span class=\"ps34871\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34874 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.61pt\"></span></span><span class=\"ps34873\">5\u00a0382<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.27pt\">\u00c0 fin 2025, le d\u00e9lai de paiement moyen des dettes fournisseurs se situe entre 100 et 150 jours selon les r\u00e9gions du monde dans</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps34877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">lesquelles le Groupe op\u00e8re contre un d\u00e9lai moyen compris entre 120 et 150 jours pour les fournisseurs ayant souscrit aux accords</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">d\u2019affacturage invers\u00e9 dans ces m\u00eames r\u00e9gions. Au niveau du Groupe, le d\u00e9lai de paiement moyen des dettes fournisseurs se</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps34879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">situe autour de 120 jours. Ce d\u00e9lai est globalement sup\u00e9rieur d\u2019environ 10 jours pour les fournisseurs ayant souscrit aux accords</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.38pt\">d\u2019affacturage invers\u00e9.</span><span class=\"f charStyle-165dec60 ps34880\" style=\"width:1.96pt\"> </span></div><div class=\"ps34882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:267.66pt\">Ces d\u00e9lais de paiement sont comparables par rapport \u00e0 ceux \u00e0 fin 2024.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-532": {
   "value": "<div class=\"ps1237 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">9.1.6<span id=\"i02f9825d39ff44dda31d9726a8498fd8\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps34833\"><span style=\"display:inline-block;height:8.71pt;width:14.34pt\"></span></span><span class=\"ps29285\">Dettes fournisseurs</span></span></div><div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32461 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:86.54pt\">inf\u00e9rieures \u00e0 trois mois.<span class=\"f ps53\"> </span></span></div><div class=\"ps34836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:163.55pt\"><span style=\"background-color:inherit\">Valeo a mis en place un programme de </span></span><span class=\"f charStyle-bec71f61 ps34835\" style=\"width:65.76pt\"><span style=\"background-color:inherit\">reverse factoring</span></span><span class=\"f charStyle-68ecf294 ps418\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:31.05pt\"><span style=\"background-color:inherit\">ouvert </span></span><span class=\"f charStyle-812c0546 ps34837\" style=\"width:198.23pt\"><span style=\"background-color:inherit\">\u00e0 ses fournisseurs partout dans le monde. Ce</span></span><span class=\"f charStyle-812c0546 ps610\" style=\"width:1.9pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-812c0546 ps275\" style=\"width:76.84pt\"><span style=\"background-color:inherit\">programme permet</span></span><span class=\"f charStyle-68ecf294 ps34838\" style=\"width:152.49pt\"><span style=\"background-color:inherit\"> aux fournisseurs y adh\u00e9rant de c\u00e9der</span></span><span class=\"f charStyle-68ecf294 ps412\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34840 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:229.27pt\"><span style=\"background-color:inherit\">leurs cr\u00e9ances vis\u2011\u00e0-vis de Valeo avant la date d'\u00e9ch\u00e9ance \u00e0</span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26818 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:183.83pt\"><span style=\"background-color:inherit\">un \u00e9tablissement financier, \u00e9galement appel\u00e9 \u00ab\u00a0</span></span><span class=\"f charStyle-bec71f61 ps34841\" style=\"width:22.58pt\"><span style=\"background-color:inherit\">factor</span></span><span class=\"f charStyle-68ecf294 ps34842\" style=\"width:22.86pt\"><span style=\"background-color:inherit\">\u00a0\u00bb. Les</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps26820 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:126.07pt\"><span style=\"background-color:inherit\">relations entre les parties sont </span></span><span class=\"f charStyle-5a0e0c8b ps34843\" style=\"width:103.25pt\"><span style=\"background-color:inherit\">structur\u00e9es au travers de la</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-5a0e0c8b ps431\" style=\"width:1.69pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps26822 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5a0e0c8b ps275\" style=\"width:148.27pt\"><span style=\"background-color:inherit\">signature de deux contrats ind\u00e9pendants\u00a0:</span></span></div><div class=\"ps34844 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-ed1e3357 ps275\" style=\"width:2.5pt\"><span style=\"background-color:inherit\">\u2022</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:222.22pt\"><span style=\"background-color:inherit\">les fournisseurs de Valeo entrent dans un contrat leur</span></span><span class=\"f charStyle-7b89e0e3 ps418\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34847 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:89.03pt\"><span style=\"background-color:inherit\">permettant de c\u00e9der au </span></span><span class=\"f charStyle-97107530 ps34845\" style=\"width:21.5pt\"><span style=\"background-color:inherit\">factor</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-7b89e0e3 ps34846\" style=\"width:111.66pt\"><span style=\"background-color:inherit\"> des cr\u00e9ances qu'ils d\u00e9tiennent</span></span><span class=\"f charStyle-7b89e0e3 ps610\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26827 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:33.52pt\"><span style=\"background-color:inherit\">sur Valeo</span></span><span class=\"f charStyle-97107530 ps34848\" style=\"width:3.78pt\"><span style=\"background-color:inherit\">. </span></span><span class=\"f charStyle-7b89e0e3 ps34849\" style=\"width:184.9pt\"><span style=\"background-color:inherit\">La d\u00e9cision de cession est \u00e0 l'enti\u00e8re discr\u00e9tion des</span></span><span class=\"f charStyle-7b89e0e3 ps425\" style=\"width:1.78pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26828 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7b89e0e3 ps626\" style=\"width:172.6pt\"><span style=\"background-color:inherit\">fournisseurs qui en supportent le co\u00fbt financier ;</span></span></div><div class=\"ps34805 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-90feeb7b ps275\" style=\"width:2.68pt\"><span style=\"background-color:inherit\">\u2022</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps626\" style=\"width:222.18pt\"><span style=\"background-color:inherit\">Valeo signe une convention selon laquelle il s'engage \u00e0</span></span><span class=\"f charStyle-68ecf294 ps415\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34813 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps626\" style=\"width:24.32pt\"><span style=\"background-color:inherit\">payer </span></span><span class=\"f charStyle-fa396791 ps34850\" style=\"width:12.51pt\"><span style=\"background-color:inherit\">au </span></span><span class=\"f charStyle-b8d80083 ps34851\" style=\"width:22.22pt\"><span style=\"background-color:inherit\">factor</span></span><span class=\"f charStyle-fa396791 ps34852\" style=\"width:163.19pt\"><span style=\"background-color:inherit\"> les factures des fournisseurs \u00e0 leurs dates</span></span><span class=\"f charStyle-fa396791 ps412\" style=\"width:1.9pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps26830 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-fa396791 ps626\" style=\"width:44.48pt\"><span style=\"background-color:inherit\">d'\u00e9ch\u00e9ance </span></span><span class=\"f charStyle-68ecf294 ps34853\" style=\"width:51.42pt\"><span style=\"background-color:inherit\">contractuelle.</span></span></div><div class=\"ps34836 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:113.11pt\"><span style=\"background-color:inherit\">Les cr\u00e9ances acquises par le </span></span><span class=\"f charStyle-bec71f61 ps34854\" style=\"width:25.62pt\"><span style=\"background-color:inherit\">factor </span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps34855\" style=\"width:90.59pt\"><span style=\"background-color:inherit\">via ce programme sont</span></span><span class=\"f charStyle-68ecf294 ps639\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-38f015fa ps448\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">r\u00e9parties au sein d'un syndicat regroupant plusieurs</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-38f015fa ps458\" style=\"width:1.77pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps34839 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-38f015fa ps448\" style=\"width:54.53pt\"><span style=\"background-color:inherit\">\u00e9tablissements</span></span><span class=\"f charStyle-68ecf294 ps34856\" style=\"width:174.77pt\"><span style=\"background-color:inherit\"> financiers (au nombre de cinq au</span></span><span class=\"f charStyle-68ecf294 ps449\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34840 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-68ecf294 ps34857\" style=\"width:34.36pt\"><span style=\"background-color:inherit\">), dont le </span></span><span class=\"f charStyle-bec71f61 ps34858\" style=\"width:24.54pt\"><span style=\"background-color:inherit\">factor </span></span><span class=\"f charStyle-68ecf294 ps34859\" style=\"width:38.47pt\"><span style=\"background-color:inherit\">lui-m\u00eame.</span></span></div><div class=\"ps32551 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.25pt\"><span style=\"background-color:inherit\">Le Groupe a \u00e9galement mis en place deux programmes de</span></span><span class=\"f charStyle-68ecf294 ps689\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34798 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-bec71f61 ps448\" style=\"width:66.02pt\"><span style=\"background-color:inherit\">reverse factoring </span></span><span class=\"f charStyle-68ecf294 ps34860\" style=\"width:62.38pt\"><span style=\"background-color:inherit\">locaux au Japon.</span><span class=\"f ps53\"> </span></span></div><div class=\"ps27022 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-09a13f6a ps448\" style=\"width:229.29pt\"><span style=\"background-color:inherit\">Compte tenu des caract\u00e9ristiques de ces programmes, ces</span><span class=\"f ps53\"> </span></span><span class=\"f charStyle-09a13f6a ps467\" style=\"width:1.82pt\"><span style=\"background-color:inherit\"> </span><span class=\"f ps53\"> </span></span></div><div class=\"ps32034 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-09a13f6a ps448\" style=\"width:30.39pt\"><span style=\"background-color:inherit\">cessions</span></span><span class=\"f charStyle-68ecf294 ps34861\" style=\"width:198.9pt\"><span style=\"background-color:inherit\"> ne modifient pas en substance la nature des passifs</span></span><span class=\"f charStyle-68ecf294 ps467\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps32036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.32pt\"><span style=\"background-color:inherit\">concern\u00e9s. L'ensemble des dettes incluses dans ces</span></span><span class=\"f charStyle-68ecf294 ps639\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:229.28pt\"><span style=\"background-color:inherit\">programmes sont donc pr\u00e9sent\u00e9es au sein des dettes</span></span><span class=\"f charStyle-68ecf294 ps458\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34802 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps448\" style=\"width:220.8pt\"><span style=\"background-color:inherit\">fournisseurs, qu'elles aient fait l'objet ou non d'une cession.</span></span></div><div class=\"ps34863 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:284.15pt\"><span style=\"background-color:inherit\">\u00c0 la date de la cl\u00f4ture, les montants des passifs concern\u00e9s sont les suivants :</span></span><span class=\"f charStyle-68ecf294 ps34862\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps34875 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:321pt\"></td><td style=\"padding:0;width:79.5pt\"></td><td style=\"padding:0;width:79.5pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss658\"><div><div class=\"ps10243 ss185\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10245 ss654\"><div><div class=\"ps509 ss645\"><span class=\"f charStyle-6bef0edd ps34864\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10136 ss654\"><div><div class=\"ps509 ss645\"><span class=\"f charStyle-ae6044e9 ps34865\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss660\"><div><div class=\"ps746 ss185\"><span class=\"f charStyle-a696f64a ps10\">Dettes fournisseurs pour lesquelles les fournisseurs ont souscrit aux accords <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss185\"><span class=\"f charStyle-a696f64a ps10\">d'affacturage\u00a0invers\u00e9<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16510 ss651\"><div><div class=\"ps516 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.09pt\"></span></span><span class=\"ps33358\">825<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10146 ss651\"><div><div class=\"ps516 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.07pt\"></span></span><span class=\"ps34866\">864<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-6bfccbf4 ps16818\">Dont dettes c\u00e9d\u00e9es par les fournisseurs au factor<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16549 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:59.95pt\"></span></span><span class=\"ps34867\">435<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34869 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-6bfccbf4\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:61.3pt\"></span></span><span class=\"ps34868\">471<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10163 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-a696f64a ps10\">Autres dettes fournisseurs d\u2019exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34870 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.57pt\"></span></span><span class=\"ps31731\">4\u00a0273<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10177 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.73pt\"></span></span><span class=\"ps25912\">4\u00a0518<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps8549 ss2189\"><div><div class=\"ps1259 ss185\"><span class=\"f charStyle-96b05324 ps10\">DETTES FOURNISSEURS D'EXPLOITATION<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34872 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:51.63pt\"></span></span><span class=\"ps34871\">5\u00a0098<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34874 ss2190\"><div><div class=\"ps32553 ss645\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.61pt\"></span></span><span class=\"ps34873\">5\u00a0382<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34876 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.27pt\">\u00c0 fin 2025, le d\u00e9lai de paiement moyen des dettes fournisseurs se situe entre 100 et 150 jours selon les r\u00e9gions du monde dans</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps34877 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">lesquelles le Groupe op\u00e8re contre un d\u00e9lai moyen compris entre 120 et 150 jours pour les fournisseurs ayant souscrit aux accords</span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> </span></div><div class=\"ps34878 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">d\u2019affacturage invers\u00e9 dans ces m\u00eames r\u00e9gions. Au niveau du Groupe, le d\u00e9lai de paiement moyen des dettes fournisseurs se</span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> </span></div><div class=\"ps34879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.16pt\">situe autour de 120 jours. Ce d\u00e9lai est globalement sup\u00e9rieur d\u2019environ 10 jours pour les fournisseurs ayant souscrit aux accords</span><span class=\"f charStyle-165dec60 ps1288\" style=\"width:1.96pt\"> </span></div><div class=\"ps34881 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:80.38pt\">d\u2019affacturage invers\u00e9.</span><span class=\"f charStyle-165dec60 ps34880\" style=\"width:1.96pt\"> </span></div><div class=\"ps34882 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:267.66pt\">Ces d\u00e9lais de paiement sont comparables par rapport \u00e0 ceux \u00e0 fin 2024.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-534": {
   "value": "<div class=\"ps32457 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:458.65pt\">Les dettes commerciales sont initialement enregistr\u00e9es \u00e0 la juste valeur et ult\u00e9rieurement au co\u00fbt amorti. La juste valeur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps16289\" style=\"width:1.85pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps32460 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:40.06pt\">des\u00a0dettes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps4094\" style=\"width:418.5pt\"> fournisseurs est assimil\u00e9e \u00e0 la\u00a0valeur nominale compte tenu des \u00e9ch\u00e9ances de paiement g\u00e9n\u00e9ralement<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps27007\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div>inf\u00e9rieures \u00e0 trois mois.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-535": {
   "value": "5098000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-536": {
   "value": "5382000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-542": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">9.2<span id=\"i5d90dfc92b444e5bb751983e849bfc5f\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30808\"><span style=\"display:inline-block;height:10.16pt;width:26.9pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat financier<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div><div class=\"ps34922 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:338.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2192\"><div><div class=\"ps10243 ss2191\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps20786 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-6bef0edd ps34892\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11017 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-ae6044e9 ps34893\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Co\u00fbt de l'endettement financier brut </span><span class=\"f charStyle-4da12822 ps34894\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20792 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.77pt\"></span></span><span class=\"ps34895\">(327)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20794 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.65pt\"></span></span><span class=\"ps25386\">(363)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">Produits d'int\u00e9r\u00eats relatifs \u00e0 la tr\u00e9sorerie et aux placements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20799 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58pt\"></span></span><span class=\"ps34896\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20801 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">CO\u00dbT DE L'ENDETTEMENT FINANCIER NET</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20805 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.79pt\"></span></span><span class=\"ps25855\">(256)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20807 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.62pt\"></span></span><span class=\"ps27569\">(251)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Charge nette d'int\u00e9r\u00eats sur les provisions retraites et assimil\u00e9s </span><span class=\"f charStyle-4da12822 ps34897\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20810 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.47pt\"></span></span><span class=\"ps34898\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20812 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.73pt\"></span></span><span class=\"ps34899\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat de change<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20817 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.16pt\"></span></span><span class=\"ps34900\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20819 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.89pt\"></span></span><span class=\"ps34901\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers sur mati\u00e8res (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34903 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34904 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers de taux (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34905 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34906 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9sultat sur les placements long terme d\u00e9tenus \u00e0 des fins de transaction </span><span class=\"f charStyle-4da12822 ps34907\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34908 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.18pt\"></span></span><span class=\"ps27854\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34910 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.4pt\"></span></span><span class=\"ps34909\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Autres \u00e9l\u00e9ments </span><span class=\"f charStyle-4da12822 ps34911\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34913 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.87pt\"></span></span><span class=\"ps34912\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34915 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.7pt\"></span></span><span class=\"ps34914\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">AUTRES PRODUITS ET CHARGES FINANCIERS</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34916 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.35pt\"></span></span><span class=\"ps28635\">(73)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34918 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.84pt\"></span></span><span class=\"ps34917\">(34)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17301 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34919 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.48pt\"></span></span><span class=\"ps32705\">(329)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34921 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.3pt\"></span></span><span class=\"ps34920\">(285)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34927 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps275\" style=\"width:6.27pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:147.39pt\">Dont 6 millions d\u2019euros de co\u00fbts financiers en </span><span class=\"f charStyle-065ed5e8 ps34923\" style=\"width:14.91pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34924\" style=\"width:109.73pt\"> sur les lignes de cr\u00e9dit non tir\u00e9es, </span><span class=\"f charStyle-065ed5e8 ps34925\" style=\"width:5.78pt\">31</span><span class=\"f charStyle-065ed5e8 ps34926\" style=\"width:189.23pt\"> millions d'euros de charges financi\u00e8res li\u00e9es aux dettes sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps1722\" style=\"width:1.59pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:44.88pt\">biens lou\u00e9s et </span><span class=\"f charStyle-065ed5e8 ps34928\" style=\"width:7.77pt\">20<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34929\" style=\"width:344.71pt\"> millions d\u2019euros de charges financi\u00e8res sur les op\u00e9rations d\u2019escompte des cr\u00e9ances commerciales et fiscales.</span></div><div class=\"ps34933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:32.24pt\">Note 6.3.4</span><span class=\"f charStyle-776a1ec6 ps34932\" style=\"width:35.85pt\">, page 409.</span></div><div class=\"ps34936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:30.3pt\">Note 9.1.5</span><span class=\"f charStyle-776a1ec6 ps34934\" style=\"width:35.21pt\">, page 439.</span><span class=\"f charStyle-776a1ec6 ps34935\" style=\"width:1.7pt\"> </span></div><div class=\"ps34937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:401.95pt\">Dont un produit de 12 millions d'euros en 2025 et une charge de 4 millions d\u2019euros en 2024 li\u00e9s \u00e0 l'hyperinflation en Turquie.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-541": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">9.2<span id=\"i5d90dfc92b444e5bb751983e849bfc5f\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30808\"><span style=\"display:inline-block;height:10.16pt;width:26.9pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat financier<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div><div class=\"ps34922 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:338.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2192\"><div><div class=\"ps10243 ss2191\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps20786 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-6bef0edd ps34892\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11017 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-ae6044e9 ps34893\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Co\u00fbt de l'endettement financier brut </span><span class=\"f charStyle-4da12822 ps34894\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20792 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.77pt\"></span></span><span class=\"ps34895\">(327)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20794 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.65pt\"></span></span><span class=\"ps25386\">(363)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">Produits d'int\u00e9r\u00eats relatifs \u00e0 la tr\u00e9sorerie et aux placements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20799 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58pt\"></span></span><span class=\"ps34896\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20801 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">CO\u00dbT DE L'ENDETTEMENT FINANCIER NET</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20805 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.79pt\"></span></span><span class=\"ps25855\">(256)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20807 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.62pt\"></span></span><span class=\"ps27569\">(251)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Charge nette d'int\u00e9r\u00eats sur les provisions retraites et assimil\u00e9s </span><span class=\"f charStyle-4da12822 ps34897\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20810 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.47pt\"></span></span><span class=\"ps34898\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20812 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.73pt\"></span></span><span class=\"ps34899\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat de change<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20817 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.16pt\"></span></span><span class=\"ps34900\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20819 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.89pt\"></span></span><span class=\"ps34901\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers sur mati\u00e8res (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34903 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34904 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers de taux (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34905 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34906 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9sultat sur les placements long terme d\u00e9tenus \u00e0 des fins de transaction </span><span class=\"f charStyle-4da12822 ps34907\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34908 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.18pt\"></span></span><span class=\"ps27854\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34910 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.4pt\"></span></span><span class=\"ps34909\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Autres \u00e9l\u00e9ments </span><span class=\"f charStyle-4da12822 ps34911\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34913 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.87pt\"></span></span><span class=\"ps34912\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34915 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.7pt\"></span></span><span class=\"ps34914\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">AUTRES PRODUITS ET CHARGES FINANCIERS</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34916 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.35pt\"></span></span><span class=\"ps28635\">(73)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34918 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.84pt\"></span></span><span class=\"ps34917\">(34)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17301 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34919 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.48pt\"></span></span><span class=\"ps32705\">(329)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34921 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.3pt\"></span></span><span class=\"ps34920\">(285)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34927 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps275\" style=\"width:6.27pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:147.39pt\">Dont 6 millions d\u2019euros de co\u00fbts financiers en </span><span class=\"f charStyle-065ed5e8 ps34923\" style=\"width:14.91pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34924\" style=\"width:109.73pt\"> sur les lignes de cr\u00e9dit non tir\u00e9es, </span><span class=\"f charStyle-065ed5e8 ps34925\" style=\"width:5.78pt\">31</span><span class=\"f charStyle-065ed5e8 ps34926\" style=\"width:189.23pt\"> millions d'euros de charges financi\u00e8res li\u00e9es aux dettes sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps1722\" style=\"width:1.59pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:44.88pt\">biens lou\u00e9s et </span><span class=\"f charStyle-065ed5e8 ps34928\" style=\"width:7.77pt\">20<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34929\" style=\"width:344.71pt\"> millions d\u2019euros de charges financi\u00e8res sur les op\u00e9rations d\u2019escompte des cr\u00e9ances commerciales et fiscales.</span></div><div class=\"ps34933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:32.24pt\">Note 6.3.4</span><span class=\"f charStyle-776a1ec6 ps34932\" style=\"width:35.85pt\">, page 409.</span></div><div class=\"ps34936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:30.3pt\">Note 9.1.5</span><span class=\"f charStyle-776a1ec6 ps34934\" style=\"width:35.21pt\">, page 439.</span><span class=\"f charStyle-776a1ec6 ps34935\" style=\"width:1.7pt\"> </span></div><div class=\"ps34937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:401.95pt\">Dont un produit de 12 millions d'euros en 2025 et une charge de 4 millions d\u2019euros en 2024 li\u00e9s \u00e0 l'hyperinflation en Turquie.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-540": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">9.2<span id=\"i5d90dfc92b444e5bb751983e849bfc5f\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30808\"><span style=\"display:inline-block;height:10.16pt;width:26.9pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat financier<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div><div class=\"ps34922 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:338.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2192\"><div><div class=\"ps10243 ss2191\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps20786 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-6bef0edd ps34892\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11017 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-ae6044e9 ps34893\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Co\u00fbt de l'endettement financier brut </span><span class=\"f charStyle-4da12822 ps34894\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20792 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.77pt\"></span></span><span class=\"ps34895\">(327)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20794 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.65pt\"></span></span><span class=\"ps25386\">(363)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">Produits d'int\u00e9r\u00eats relatifs \u00e0 la tr\u00e9sorerie et aux placements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20799 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58pt\"></span></span><span class=\"ps34896\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20801 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">CO\u00dbT DE L'ENDETTEMENT FINANCIER NET</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20805 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.79pt\"></span></span><span class=\"ps25855\">(256)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20807 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.62pt\"></span></span><span class=\"ps27569\">(251)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Charge nette d'int\u00e9r\u00eats sur les provisions retraites et assimil\u00e9s </span><span class=\"f charStyle-4da12822 ps34897\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20810 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.47pt\"></span></span><span class=\"ps34898\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20812 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.73pt\"></span></span><span class=\"ps34899\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat de change<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20817 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.16pt\"></span></span><span class=\"ps34900\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20819 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.89pt\"></span></span><span class=\"ps34901\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers sur mati\u00e8res (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34903 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34904 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers de taux (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34905 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34906 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9sultat sur les placements long terme d\u00e9tenus \u00e0 des fins de transaction </span><span class=\"f charStyle-4da12822 ps34907\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34908 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.18pt\"></span></span><span class=\"ps27854\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34910 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.4pt\"></span></span><span class=\"ps34909\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Autres \u00e9l\u00e9ments </span><span class=\"f charStyle-4da12822 ps34911\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34913 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.87pt\"></span></span><span class=\"ps34912\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34915 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.7pt\"></span></span><span class=\"ps34914\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">AUTRES PRODUITS ET CHARGES FINANCIERS</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34916 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.35pt\"></span></span><span class=\"ps28635\">(73)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34918 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.84pt\"></span></span><span class=\"ps34917\">(34)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17301 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34919 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.48pt\"></span></span><span class=\"ps32705\">(329)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34921 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.3pt\"></span></span><span class=\"ps34920\">(285)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34927 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps275\" style=\"width:6.27pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:147.39pt\">Dont 6 millions d\u2019euros de co\u00fbts financiers en </span><span class=\"f charStyle-065ed5e8 ps34923\" style=\"width:14.91pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34924\" style=\"width:109.73pt\"> sur les lignes de cr\u00e9dit non tir\u00e9es, </span><span class=\"f charStyle-065ed5e8 ps34925\" style=\"width:5.78pt\">31</span><span class=\"f charStyle-065ed5e8 ps34926\" style=\"width:189.23pt\"> millions d'euros de charges financi\u00e8res li\u00e9es aux dettes sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps1722\" style=\"width:1.59pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:44.88pt\">biens lou\u00e9s et </span><span class=\"f charStyle-065ed5e8 ps34928\" style=\"width:7.77pt\">20<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34929\" style=\"width:344.71pt\"> millions d\u2019euros de charges financi\u00e8res sur les op\u00e9rations d\u2019escompte des cr\u00e9ances commerciales et fiscales.</span></div><div class=\"ps34933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:32.24pt\">Note 6.3.4</span><span class=\"f charStyle-776a1ec6 ps34932\" style=\"width:35.85pt\">, page 409.</span></div><div class=\"ps34936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:30.3pt\">Note 9.1.5</span><span class=\"f charStyle-776a1ec6 ps34934\" style=\"width:35.21pt\">, page 439.</span><span class=\"f charStyle-776a1ec6 ps34935\" style=\"width:1.7pt\"> </span></div><div class=\"ps34937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:401.95pt\">Dont un produit de 12 millions d'euros en 2025 et une charge de 4 millions d\u2019euros en 2024 li\u00e9s \u00e0 l'hyperinflation en Turquie.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-539": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">9.2<span id=\"i5d90dfc92b444e5bb751983e849bfc5f\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30808\"><span style=\"display:inline-block;height:10.16pt;width:26.9pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat financier<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div><div class=\"ps34922 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:338.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2192\"><div><div class=\"ps10243 ss2191\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps20786 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-6bef0edd ps34892\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11017 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-ae6044e9 ps34893\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Co\u00fbt de l'endettement financier brut </span><span class=\"f charStyle-4da12822 ps34894\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20792 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.77pt\"></span></span><span class=\"ps34895\">(327)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20794 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.65pt\"></span></span><span class=\"ps25386\">(363)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">Produits d'int\u00e9r\u00eats relatifs \u00e0 la tr\u00e9sorerie et aux placements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20799 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58pt\"></span></span><span class=\"ps34896\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20801 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">CO\u00dbT DE L'ENDETTEMENT FINANCIER NET</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20805 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.79pt\"></span></span><span class=\"ps25855\">(256)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20807 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.62pt\"></span></span><span class=\"ps27569\">(251)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Charge nette d'int\u00e9r\u00eats sur les provisions retraites et assimil\u00e9s </span><span class=\"f charStyle-4da12822 ps34897\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20810 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.47pt\"></span></span><span class=\"ps34898\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20812 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.73pt\"></span></span><span class=\"ps34899\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat de change<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20817 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.16pt\"></span></span><span class=\"ps34900\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20819 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.89pt\"></span></span><span class=\"ps34901\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers sur mati\u00e8res (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34903 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34904 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers de taux (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34905 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34906 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9sultat sur les placements long terme d\u00e9tenus \u00e0 des fins de transaction </span><span class=\"f charStyle-4da12822 ps34907\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34908 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.18pt\"></span></span><span class=\"ps27854\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34910 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.4pt\"></span></span><span class=\"ps34909\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Autres \u00e9l\u00e9ments </span><span class=\"f charStyle-4da12822 ps34911\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34913 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.87pt\"></span></span><span class=\"ps34912\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34915 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.7pt\"></span></span><span class=\"ps34914\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">AUTRES PRODUITS ET CHARGES FINANCIERS</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34916 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.35pt\"></span></span><span class=\"ps28635\">(73)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34918 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.84pt\"></span></span><span class=\"ps34917\">(34)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17301 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34919 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.48pt\"></span></span><span class=\"ps32705\">(329)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34921 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.3pt\"></span></span><span class=\"ps34920\">(285)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34927 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps275\" style=\"width:6.27pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:147.39pt\">Dont 6 millions d\u2019euros de co\u00fbts financiers en </span><span class=\"f charStyle-065ed5e8 ps34923\" style=\"width:14.91pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34924\" style=\"width:109.73pt\"> sur les lignes de cr\u00e9dit non tir\u00e9es, </span><span class=\"f charStyle-065ed5e8 ps34925\" style=\"width:5.78pt\">31</span><span class=\"f charStyle-065ed5e8 ps34926\" style=\"width:189.23pt\"> millions d'euros de charges financi\u00e8res li\u00e9es aux dettes sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps1722\" style=\"width:1.59pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:44.88pt\">biens lou\u00e9s et </span><span class=\"f charStyle-065ed5e8 ps34928\" style=\"width:7.77pt\">20<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34929\" style=\"width:344.71pt\"> millions d\u2019euros de charges financi\u00e8res sur les op\u00e9rations d\u2019escompte des cr\u00e9ances commerciales et fiscales.</span></div><div class=\"ps34933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:32.24pt\">Note 6.3.4</span><span class=\"f charStyle-776a1ec6 ps34932\" style=\"width:35.85pt\">, page 409.</span></div><div class=\"ps34936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:30.3pt\">Note 9.1.5</span><span class=\"f charStyle-776a1ec6 ps34934\" style=\"width:35.21pt\">, page 439.</span><span class=\"f charStyle-776a1ec6 ps34935\" style=\"width:1.7pt\"> </span></div><div class=\"ps34937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:401.95pt\">Dont un produit de 12 millions d'euros en 2025 et une charge de 4 millions d\u2019euros en 2024 li\u00e9s \u00e0 l'hyperinflation en Turquie.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-538": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">9.2<span id=\"i5d90dfc92b444e5bb751983e849bfc5f\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30808\"><span style=\"display:inline-block;height:10.16pt;width:26.9pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat financier<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div><div class=\"ps34922 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:338.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2192\"><div><div class=\"ps10243 ss2191\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps20786 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-6bef0edd ps34892\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11017 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-ae6044e9 ps34893\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Co\u00fbt de l'endettement financier brut </span><span class=\"f charStyle-4da12822 ps34894\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20792 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.77pt\"></span></span><span class=\"ps34895\">(327)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20794 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.65pt\"></span></span><span class=\"ps25386\">(363)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">Produits d'int\u00e9r\u00eats relatifs \u00e0 la tr\u00e9sorerie et aux placements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20799 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58pt\"></span></span><span class=\"ps34896\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20801 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">CO\u00dbT DE L'ENDETTEMENT FINANCIER NET</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20805 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.79pt\"></span></span><span class=\"ps25855\">(256)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20807 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.62pt\"></span></span><span class=\"ps27569\">(251)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Charge nette d'int\u00e9r\u00eats sur les provisions retraites et assimil\u00e9s </span><span class=\"f charStyle-4da12822 ps34897\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20810 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.47pt\"></span></span><span class=\"ps34898\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20812 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.73pt\"></span></span><span class=\"ps34899\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat de change<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20817 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.16pt\"></span></span><span class=\"ps34900\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20819 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.89pt\"></span></span><span class=\"ps34901\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers sur mati\u00e8res (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34903 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34904 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers de taux (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34905 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34906 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9sultat sur les placements long terme d\u00e9tenus \u00e0 des fins de transaction </span><span class=\"f charStyle-4da12822 ps34907\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34908 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.18pt\"></span></span><span class=\"ps27854\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34910 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.4pt\"></span></span><span class=\"ps34909\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Autres \u00e9l\u00e9ments </span><span class=\"f charStyle-4da12822 ps34911\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34913 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.87pt\"></span></span><span class=\"ps34912\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34915 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.7pt\"></span></span><span class=\"ps34914\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">AUTRES PRODUITS ET CHARGES FINANCIERS</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34916 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.35pt\"></span></span><span class=\"ps28635\">(73)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34918 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.84pt\"></span></span><span class=\"ps34917\">(34)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17301 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34919 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.48pt\"></span></span><span class=\"ps32705\">(329)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34921 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.3pt\"></span></span><span class=\"ps34920\">(285)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34927 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps275\" style=\"width:6.27pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:147.39pt\">Dont 6 millions d\u2019euros de co\u00fbts financiers en </span><span class=\"f charStyle-065ed5e8 ps34923\" style=\"width:14.91pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34924\" style=\"width:109.73pt\"> sur les lignes de cr\u00e9dit non tir\u00e9es, </span><span class=\"f charStyle-065ed5e8 ps34925\" style=\"width:5.78pt\">31</span><span class=\"f charStyle-065ed5e8 ps34926\" style=\"width:189.23pt\"> millions d'euros de charges financi\u00e8res li\u00e9es aux dettes sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps1722\" style=\"width:1.59pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:44.88pt\">biens lou\u00e9s et </span><span class=\"f charStyle-065ed5e8 ps34928\" style=\"width:7.77pt\">20<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34929\" style=\"width:344.71pt\"> millions d\u2019euros de charges financi\u00e8res sur les op\u00e9rations d\u2019escompte des cr\u00e9ances commerciales et fiscales.</span></div><div class=\"ps34933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:32.24pt\">Note 6.3.4</span><span class=\"f charStyle-776a1ec6 ps34932\" style=\"width:35.85pt\">, page 409.</span></div><div class=\"ps34936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:30.3pt\">Note 9.1.5</span><span class=\"f charStyle-776a1ec6 ps34934\" style=\"width:35.21pt\">, page 439.</span><span class=\"f charStyle-776a1ec6 ps34935\" style=\"width:1.7pt\"> </span></div><div class=\"ps34937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:401.95pt\">Dont un produit de 12 millions d'euros en 2025 et une charge de 4 millions d\u2019euros en 2024 li\u00e9s \u00e0 l'hyperinflation en Turquie.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-537": {
   "value": "<div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">9.2<span id=\"i5d90dfc92b444e5bb751983e849bfc5f\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps30808\"><span style=\"display:inline-block;height:10.16pt;width:26.9pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat financier<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div><div class=\"ps34922 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:338.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td><td style=\"padding:0;width:71.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2192\"><div><div class=\"ps10243 ss2191\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps20786 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-6bef0edd ps34892\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps11017 ss91\"><div><div class=\"ps509 ss78\"><span class=\"f charStyle-ae6044e9 ps34893\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Co\u00fbt de l'endettement financier brut </span><span class=\"f charStyle-4da12822 ps34894\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20792 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.77pt\"></span></span><span class=\"ps34895\">(327)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20794 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:49.65pt\"></span></span><span class=\"ps25386\">(363)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">Produits d'int\u00e9r\u00eats relatifs \u00e0 la tr\u00e9sorerie et aux placements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20799 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58pt\"></span></span><span class=\"ps34896\">71<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20801 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.46pt\"></span></span><span class=\"ps27477\">112<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">CO\u00dbT DE L'ENDETTEMENT FINANCIER NET</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20805 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.79pt\"></span></span><span class=\"ps25855\">(256)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20807 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:50.62pt\"></span></span><span class=\"ps27569\">(251)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Charge nette d'int\u00e9r\u00eats sur les provisions retraites et assimil\u00e9s </span><span class=\"f charStyle-4da12822 ps34897\"><sup>(2)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20810 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.47pt\"></span></span><span class=\"ps34898\">(30)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20812 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:55.73pt\"></span></span><span class=\"ps34899\">(31)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat de change<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20817 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.16pt\"></span></span><span class=\"ps34900\">(25)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20819 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.89pt\"></span></span><span class=\"ps34901\">3<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers sur mati\u00e8res (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34903 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34904 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9sultat sur instruments financiers de taux (inefficacit\u00e9)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34905 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34906 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.61pt\"></span></span><span class=\"ps34902\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9sultat sur les placements long terme d\u00e9tenus \u00e0 des fins de transaction </span><span class=\"f charStyle-4da12822 ps34907\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34908 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:54.18pt\"></span></span><span class=\"ps27854\">(23)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34910 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.4pt\"></span></span><span class=\"ps34909\">(2)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-044fe383 ps10\">Autres \u00e9l\u00e9ments </span><span class=\"f charStyle-4da12822 ps34911\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34913 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.87pt\"></span></span><span class=\"ps34912\">5<span style=\"display:inline-block;height:7.26pt;width:2.76pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34915 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:57.7pt\"></span></span><span class=\"ps34914\">(4)<span style=\"display:inline-block;height:7.26pt;width:0.3pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-c942a721 ps10\">AUTRES PRODUITS ET CHARGES FINANCIERS</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34916 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:53.35pt\"></span></span><span class=\"ps28635\">(73)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34918 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-ae6044e9\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:52.84pt\"></span></span><span class=\"ps34917\">(34)<span style=\"display:inline-block;height:7.26pt;width:0.08pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17301 ss2192\"><div><div class=\"ps746 ss2191\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT FINANCIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34919 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.48pt\"></span></span><span class=\"ps32705\">(329)</span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34921 ss91\"><div><div class=\"ps746 ss78\"><span class=\"f charStyle-96b05324\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:48.3pt\"></span></span><span class=\"ps34920\">(285)</span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34927 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps275\" style=\"width:6.27pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:147.39pt\">Dont 6 millions d\u2019euros de co\u00fbts financiers en </span><span class=\"f charStyle-065ed5e8 ps34923\" style=\"width:14.91pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34924\" style=\"width:109.73pt\"> sur les lignes de cr\u00e9dit non tir\u00e9es, </span><span class=\"f charStyle-065ed5e8 ps34925\" style=\"width:5.78pt\">31</span><span class=\"f charStyle-065ed5e8 ps34926\" style=\"width:189.23pt\"> millions d'euros de charges financi\u00e8res li\u00e9es aux dettes sur<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps1722\" style=\"width:1.59pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34930 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-065ed5e8 ps269\" style=\"width:44.88pt\">biens lou\u00e9s et </span><span class=\"f charStyle-065ed5e8 ps34928\" style=\"width:7.77pt\">20<span class=\"f ps53\"> </span></span><span class=\"f charStyle-065ed5e8 ps34929\" style=\"width:344.71pt\"> millions d\u2019euros de charges financi\u00e8res sur les op\u00e9rations d\u2019escompte des cr\u00e9ances commerciales et fiscales.</span></div><div class=\"ps34933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:32.24pt\">Note 6.3.4</span><span class=\"f charStyle-776a1ec6 ps34932\" style=\"width:35.85pt\">, page 409.</span></div><div class=\"ps34936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:30.3pt\">Note 9.1.5</span><span class=\"f charStyle-776a1ec6 ps34934\" style=\"width:35.21pt\">, page 439.</span><span class=\"f charStyle-776a1ec6 ps34935\" style=\"width:1.7pt\"> </span></div><div class=\"ps34937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:401.95pt\">Dont un produit de 12 millions d'euros en 2025 et une charge de 4 millions d\u2019euros en 2024 li\u00e9s \u00e0 l'hyperinflation en Turquie.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-545": {
   "value": "<div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-544": {
   "value": "<div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-543": {
   "value": "<div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Le r\u00e9sultat financier se compose d\u2019une part des produits<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">et charges d\u2019int\u00e9r\u00eats li\u00e9s au co\u00fbt de l\u2019endettement</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:35.1pt\">financier <span class=\"f ps53\"> </span></span><span class=\"f charStyle-b2f078f6 ps34884\" style=\"width:182.88pt\">net et, d\u2019autre part, des autres produits et charges</span><span class=\"f charStyle-b2f078f6 ps431\" style=\"width:1.83pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b2f078f6 ps6588\" style=\"width:36.69pt\">financiers.</span><span class=\"f charStyle-b2f078f6 ps34885\" style=\"width:1.83pt\"> </span></div><div class=\"ps34886 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Cout de l'endettement financier net<span class=\"f ps53\"> </span><span id=\"i9c6f57c2086a46639db2e83365fa0438\"></span></span></div><div class=\"ps2126 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:217.99pt\">Les charges d\u2019int\u00e9r\u00eats correspondent essentiellement au</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps2582 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps6588\" style=\"width:31.61pt\">montant<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34887\" style=\"width:4.95pt\"> </span><span class=\"f charStyle-53279637 ps34888\" style=\"width:181.39pt\">des int\u00e9r\u00eats comptabilis\u00e9s au titre des dettes</span><span class=\"f charStyle-53279637 ps425\" style=\"width:1.85pt\"> </span></div><div class=\"ps2583 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:217.98pt\">financi\u00e8res, et les produits d\u2019int\u00e9r\u00eats au montant des</span><span class=\"f charStyle-53279637 ps431\" style=\"width:1.85pt\"> </span></div><div class=\"ps2584 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps6588\" style=\"width:100.05pt\">int\u00e9r\u00eats sur les placements </span><span class=\"f charStyle-165dec60 ps30870\" style=\"width:49.16pt\">de tr\u00e9sorerie.</span></div><div class=\"ps34889 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps6588\">Autres produits et charges financiers<span id=\"i571e7d84d91d4fe686de3805af4ab852\"></span></span></div><div class=\"ps16994 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:217.96pt\">Les autres produits et charges financiers comprennent</span><span class=\"f charStyle-5008b3bc ps608\" style=\"width:1.63pt\"> </span></div><div class=\"ps16995 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5008b3bc ps6588\" style=\"width:45.69pt\">notamment\u00a0:</span></div><div class=\"ps34890 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps6588\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps3285\" style=\"width:223.6pt\">la part inefficace du r\u00e9sultat sur les op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps9709\" style=\"width:1.96pt\"> </span></div><div class=\"ps9958 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps3285\" style=\"width:74.74pt\">couverture de taux ;</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.59pt\">les r\u00e9sultats sur les op\u00e9rations non qualifi\u00e9es de couverture</span><span class=\"f charStyle-165dec60 ps471\" style=\"width:1.96pt\"> </span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">sur les instruments financiers relatifs aux op\u00e9rations de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:168.72pt\">change ou d\u2019achats des m\u00e9taux non ferreux\u00a0;<span class=\"f ps53\"> </span></span></div><div class=\"ps7090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.61pt\">le co\u00fbt des assurances cr\u00e9dit, les d\u00e9pr\u00e9ciations pour risque<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.64pt\">de cr\u00e9dit et les pertes sur cr\u00e9ances irr\u00e9couvrables, en cas</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:110.1pt\">de d\u00e9faut de cr\u00e9dit du client\u00a0;</span></div><div class=\"ps2108 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">les charges nettes d\u2019int\u00e9r\u00eats sur les provisions retraites et</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps2109 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.63pt\">engagements assimil\u00e9s qui incluent l\u2019effet de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps2110 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">d\u00e9sactualisation des engagements pour tenir compte du</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4968 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.66pt\">passage du temps et le produit financier sur le rendement</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:1.96pt\"> </span></div><div class=\"ps4971 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">attendu des fonds affect\u00e9s \u00e0 la couverture de ces</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4972 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:56.61pt\">engagements\u00a0;</span></div><div class=\"ps2114 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps448\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps26704\" style=\"width:223.65pt\">la variation de juste valeur des placements long terme</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps26704\" style=\"width:129.23pt\">d\u00e9tenus \u00e0 des fins de transactions.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-547": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i576f41def6ca41a7932c0e9d63798c94\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">10<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps34939\"><span style=\"display:inline-block;height:13.55pt;width:29.88pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Imp\u00f4ts</span><span class=\"f charStyle-26f8f9e5 ps32885\"> sur les r\u00e9sultats<span class=\"f ps53\"> </span></span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">10.1<span id=\"ifd019f3000934149be6a6adc581ef506\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps34940\"><span style=\"display:inline-block;height:10.16pt;width:24.43pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Imp\u00f4ts sur les r\u00e9sultats<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:408.8pt\">La charge d\u2019imp\u00f4ts sur les r\u00e9sultats comprend l\u2019imp\u00f4t exigible et les imp\u00f4ts diff\u00e9r\u00e9s des soci\u00e9t\u00e9s consolid\u00e9es.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34942\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Les imp\u00f4ts relatifs aux \u00e9l\u00e9ments reconnus directement en autres \u00e9l\u00e9ments du r\u00e9sultat global sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps15281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:259.42pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global et non dans le compte de r\u00e9sultat.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34943\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps29596\" style=\"width:47.25pt\">Depuis le 1</span><span class=\"f charStyle-a820d4aa ps34944\" style=\"width:4.85pt\"><span class=\"f ps53\"> </span><sup>er</sup></span><span class=\"f charStyle-d96cb356 ps30755\" style=\"width:406.4pt\"> janvier 2024, le Groupe est soumis aux \u00ab\u00a0R\u00e8gles globales de lutte contre l'\u00e9rosion de la base<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps30536\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:52.15pt\">d'imposition\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps34945\" style=\"width:406.5pt\"> (dites \u00ab\u00a0R\u00e8gles GloBE\u00a0\u00bb) qui pr\u00e9voient une imposition minimale de 15\u00a0% dans chacune des juridictions dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:54.57pt\">lequel il op\u00e8re.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34946\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps18426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">10.1.1<span id=\"ia01285b869ae4e7dbedd8968f05127d5\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps34947\"><span style=\"display:inline-block;height:8.71pt;width:12.65pt\"></span></span><span class=\"ps29285\">D\u00e9tail des imp\u00f4ts sur les r\u00e9sultats</span></span></div><div class=\"ps34959 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:354.75pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34949 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-6bef0edd ps34948\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34950 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps31339\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2194\"><div><div class=\"ps746 ss2193\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a696f64a ps10\" style=\"width:61.8pt\">Imp\u00f4ts courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34951 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a ps31382\">(315)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34952 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a ps20811\">(215)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2194\"><div><div class=\"ps746 ss2193\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a696f64a ps10\" style=\"width:56.54pt\">Imp\u00f4ts diff\u00e9r\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33775 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a ps34953\">110<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34955 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a ps34954\">116<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10356 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-96b05324 ps10\">IMP\u00d4TS SUR LES R\u00c9SULTATS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34957 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-96b05324 ps34956\">(205)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34958 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-96b05324 ps29999\">(99)<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:86.49pt\">Pour l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps34960\" style=\"width:68.38pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34961\" style=\"width:172.04pt\">, le Groupe constate une charge d\u2019imp\u00f4ts de </span><span class=\"f charStyle-165dec60 ps34962\" style=\"width:45.29pt\">205 millions</span><span class=\"f charStyle-165dec60 ps34963\" style=\"width:108.97pt\"> d\u2019euros, correspondant \u00e0 un<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34970 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.46pt\">taux </span><span class=\"f charStyle-5064d44f ps34965\" style=\"width:73.08pt\">effectif d\u2019imp\u00f4ts de </span><span class=\"f charStyle-5064d44f ps34966\" style=\"width:22.95pt\">42,7 %<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps34967\" style=\"width:74.29pt\">. Cette charge inclut</span><span class=\"f charStyle-81f42323 ps34968\" style=\"width:169.42pt\"> notamment 1 million d\u2019euros reconnus au titre <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps34969\" style=\"width:65.39pt\">des r\u00e8gles Pilier 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps34972 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">10.1.2<span id=\"i4bd663070e5b45ae98723126bdc362bc\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps34971\"><span style=\"display:inline-block;height:8.71pt;width:10.86pt\"></span></span><span class=\"ps29285\">Analyse de la charge d\u2019imp\u00f4ts</span></span></div><div class=\"ps35007 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:354.75pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2194\"><div><div class=\"ps10243 ss2193\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34949 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-6bef0edd ps34948\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34950 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps31339\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2195\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-3f403986 ps10\">R\u00c9SULTAT AVANT IMP\u00d4TS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss2193\"><span class=\"f charStyle-3f403986 ps10\">(HORS\u00a0QUOTE\u00a0PART\u00a0DANS\u00a0LES\u00a0R\u00c9SULTATS\u00a0DES\u00a0ENTREPRISES\u00a0MISES\u00a0EN\u00a0\u00c9QUIVALENCE) </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34951 ss2196\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-3f403986 ps34973\">480<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34952 ss2196\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-3f403986 ps34974\">321<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps749 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-a696f64a ps10\">Taux normal d'imp\u00f4ts en France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34975 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33131\"></span><span class=\"ps33131\">25,83 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34976 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33131\"></span><span class=\"ps33131\">25,83 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2197\"><div><div class=\"ps1259 ss2193\"><span class=\"f charStyle-3f403986 ps10\">(CHARGE) PROFIT D'IMP\u00d4TS TH\u00c9ORIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33787 ss2198\"><div><div class=\"ps32553 ss589\"><span class=\"f charStyle-3f403986 ps34228\">(124)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34978 ss2198\"><div><div class=\"ps32553 ss589\"><span class=\"f charStyle-3f403986 ps34977\">(83)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-a696f64a ps10\">Incidence des\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22743 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Imp\u00f4ts diff\u00e9r\u00e9s actifs non constat\u00e9s et pertes fiscales de l'exercice non utilis\u00e9es</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34980 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34979\">(34)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34981 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps31350\">(53)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Activation des imp\u00f4ts diff\u00e9r\u00e9s actifs non constat\u00e9s ant\u00e9rieurement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34983 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34982\">25<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34985 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34984\">48<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Taux d'imp\u00f4ts diff\u00e9rents du taux normal</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34986 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps28696\">27<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34988 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34987\">3<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Utilisations de pertes fiscales des exercices ant\u00e9rieurs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34989 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps31972\">18<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34991 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34990\">26<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Diff\u00e9rences permanentes entre les r\u00e9sultats comptables et les r\u00e9sultats imposables</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34993 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34992\">(114)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34994 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34979\">(43)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23681 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Cr\u00e9dits d'imp\u00f4ts</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34996 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34995\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34998 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34997\">6<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26428 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Cotisation sur la Valeur Ajout\u00e9e des Entreprises (CVAE)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35000 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34999\">(4)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35001 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps33180\">(3)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25634 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-3f403986 ps10\">(CHARGE) PROFIT D'IMP\u00d4TS DU GROUPE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35002 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-3f403986 ps25905\">(205)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35004 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-3f403986 ps35003\">(99)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27887 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-a696f64a ps10\">Taux effectif d'imp\u00f4t<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35005 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25933\"></span><span class=\"ps25933\">42,7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35006 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps9766\"></span><span class=\"ps9766\">30,8 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:160.25pt\">La charge d'imp\u00f4t pour l'exercice clos au </span><span class=\"f charStyle-165dec60 ps5227\" style=\"width:69.04pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">tient compte de pr\u00e9l\u00e8vements \u00e0 la source de 41 millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">d\u2019euros en lien avec des distributions de dividendes entre</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps6704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">filiales du Groupe et de la reconnaissance d'actifs d'imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:169.28pt\">diff\u00e9r\u00e9s notamment en R\u00e9publique Tch\u00e8que.</span></div><div class=\"ps35008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.25pt\">Le groupe Valeo consid\u00e8re que la Cotisation sur la Valeur</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps13475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28pt\">Ajout\u00e9e</span><span class=\"f charStyle-165dec60 ps35010\" style=\"width:201.27pt\"> des Entreprises (CVAE) correspond \u00e0 la d\u00e9finition</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps35009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u2019un imp\u00f4t, tel que pr\u00e9cis\u00e9 par IAS 12. Les imp\u00f4ts sur les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps6704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:36.69pt\">r\u00e9sultats </span><span class=\"f charStyle-53279637 ps35011\" style=\"width:13.56pt\">en\u00a0</span><span class=\"f charStyle-53279637 ps35012\" style=\"width:17.26pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps35013\" style=\"width:161.82pt\"> comprennent ainsi une charge nette de</span><span class=\"f charStyle-53279637 ps450\" style=\"width:1.85pt\"> </span></div><div class=\"ps6705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:4.84pt\">4</span><span class=\"f charStyle-53279637 ps35014\" style=\"width:63.85pt\">\u00a0millions d\u2019euros</span><span class=\"f charStyle-165dec60 ps35015\" style=\"width:90.68pt\"> au titre de la CVAE (</span><span class=\"f charStyle-165dec60 ps35016\" style=\"width:4.22pt\">3<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35017\" style=\"width:65.72pt\"> millions d\u2019euros<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6706 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:11.56pt\">en\u00a0</span><span class=\"f charStyle-165dec60 ps35018\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps35019\" style=\"width:4.05pt\">).</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:101.03pt\">L\u2019incidence favorable des </span><span class=\"f charStyle-165dec60 ps35020\" style=\"width:8.66pt\">27<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35021\" style=\"width:371.52pt\"> millions d\u2019euros li\u00e9e \u00e0 des taux d\u2019imp\u00f4ts diff\u00e9rents du taux normal se d\u00e9compose de la fa\u00e7on<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1722\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante :</span></div><div class=\"ps6896 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2199\"><div><div class=\"ps523 ss516\"><span class=\"f charStyle-ae6044e9 ps10\">Pays<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-98f46611 ps9998\">Taux d'imp\u00f4t</span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps25774\">courant\u00a0</span><span class=\"f charStyle-d93fd2c0 ps34454\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Allemagne<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35023 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35022\"></span><span class=\"ps35022\">27,8 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30094 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35024\">7<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20333 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35025\">(26)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps749 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Br\u00e9sil</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34455 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35026\"></span><span class=\"ps35026\">34,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34456 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35027\"></span><span class=\"ps35027\">25,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35028\">(1)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35028\">(1)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Cor\u00e9e du Sud<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34458 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35029\"></span><span class=\"ps35029\">23,1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35030\">3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps10310\">13<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">\u00c9tats-Unis<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34459 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35031\"></span><span class=\"ps35031\">21,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35032\">(3)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Hongrie</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34461 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10341\"></span><span class=\"ps10341\">9,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35034\">4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35035\">8<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Irlande</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35036 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30104\"></span><span class=\"ps30104\">12,5 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30112 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35035\">8<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30114 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35030\">3<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Japon</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35038 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35037\"></span><span class=\"ps35037\">31,6 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30116 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35028\">(1)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Maroc<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35040 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35039\"></span><span class=\"ps35039\">8,8 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30119 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35030\">3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35041\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Pologne</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35042 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34997\"></span><span class=\"ps34997\">19,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35043 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35044 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35028\">(1)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9publique tch\u00e8que<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35045 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35031\"></span><span class=\"ps35031\">21,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35047 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35046\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35048 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35035\">8<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Autres pays<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35049 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35050 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35046\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35052 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35051\">(4)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3846 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">TOTAL <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35054 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps35053\">27<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35056 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps35055\">3<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35057 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.02pt\">Le taux d\u2019imp\u00f4t courant indiqu\u00e9 est le taux effectif \u00e0 la date de cl\u00f4ture de l\u2019exercice. Le taux d\u2019imp\u00f4t utilis\u00e9 pour le calcul des imp\u00f4ts diff\u00e9r\u00e9s</span><span class=\"f charStyle-776a1ec6 ps1121\" style=\"width:1.7pt\"> </span></div><div class=\"ps35058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:318.39pt\">prend en compte les \u00e9ventuels changements adopt\u00e9s du taux de l\u2019imp\u00f4t sur les exercices \u00e0 venir.<span class=\"f ps53\"> </span></span></div><div class=\"ps35060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">10.2<span id=\"i3c2770347774403ba0c30a0d337f1577\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps35059\"><span style=\"display:inline-block;height:10.16pt;width:22.35pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Imp\u00f4ts diff\u00e9r\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.94pt\">Les imp\u00f4ts diff\u00e9r\u00e9s sont calcul\u00e9s selon l\u2019approche</span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:36.06pt\">bilantielle<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35062\" style=\"width:181.93pt\"> de la m\u00e9thode du report variable pour toutes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">les diff\u00e9rences temporelles provenant de la diff\u00e9rence</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">entre la base fiscale et la base comptable des actifs et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.71pt\">passifs, ainsi que pour les pertes fiscales reportables.</span><span class=\"f charStyle-165dec60 ps35063\" style=\"width:1.96pt\"> </span></div><div class=\"ps35064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les principales diff\u00e9rences temporelles sont li\u00e9es aux</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:30.2pt\">d\u00e9ficits </span><span class=\"f charStyle-42e3db84 ps35065\" style=\"width:187.74pt\">reportables, aux provisions pour retraites et autres</span><span class=\"f charStyle-42e3db84 ps610\" style=\"width:1.82pt\"> </span></div><div class=\"ps35069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:33.97pt\">avantage</span><span class=\"f charStyle-165dec60 ps35067\" style=\"width:11.48pt\">s a</span><span class=\"f charStyle-5dca4c00 ps35068\" style=\"width:172.51pt\">ssimil\u00e9s, aux autres provisions temporairement</span><span class=\"f charStyle-5dca4c00 ps608\" style=\"width:1.74pt\"> </span></div><div class=\"ps35072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps6588\" style=\"width:64.58pt\">non d\u00e9ductibles</span><span class=\"f charStyle-165dec60 ps35070\" style=\"width:8.76pt\"> </span><span class=\"f charStyle-9206869b ps35071\" style=\"width:144.62pt\">fiscalement ainsi qu\u2019aux frais de</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps35074 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:108.12pt\">d\u00e9veloppement immobilis\u00e9s.</span><span class=\"f charStyle-165dec60 ps35073\" style=\"width:109.85pt\"> Les actifs et passifs d\u2019imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35075 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diff\u00e9r\u00e9s sont calcul\u00e9s en utilisant les taux d\u2019imp\u00f4ts vot\u00e9s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17525 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ou quasi adopt\u00e9s qui seront en vigueur au moment du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.46pt\">renversement des diff\u00e9rences temporelles.<span class=\"f ps53\"> </span></span></div><div class=\"ps30879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s ne sont comptabilis\u00e9s que</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17528 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">dans la mesure o\u00f9 il est probable que Valeo disposera de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps17529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">b\u00e9n\u00e9fices futurs imposables sur lesquels ces actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17531 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">pourront \u00eatre imput\u00e9s. Les perspectives de r\u00e9cup\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35077 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:49.85pt\">des imp\u00f4ts d</span><span class=\"f charStyle-9206869b ps35076\" style=\"width:168.09pt\">iff\u00e9r\u00e9s actifs sont revues p\u00e9riodiquement par<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:48.51pt\">entit\u00e9 fiscale</span><span class=\"f charStyle-165dec60 ps35078\" style=\"width:169.41pt\"> et peuvent, le cas \u00e9ch\u00e9ant, conduire \u00e0 ne</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps35080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">plus reconna\u00eetre des imp\u00f4ts diff\u00e9r\u00e9s actifs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35082 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.57pt\">ant\u00e9rieurement constat\u00e9s. Ces </span><span class=\"f charStyle-81f42323 ps35081\" style=\"width:67.41pt\">perspectives de</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps29365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:184.05pt\">r\u00e9cup\u00e9ration sont analys\u00e9es selon la m\u00e9thode</span><span class=\"f charStyle-165dec60 ps35083\" style=\"width:33.9pt\"> la plus</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">appropri\u00e9e au vu de l\u2019organisation juridique et fiscale de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps35084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9, de son historique fiscal et de ses perspectives de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:98.11pt\">revenu imposable projet\u00e9.</span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Chaque entit\u00e9 ou groupe d\u2019int\u00e9gration fiscale \u00e9value</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">chaque ann\u00e9e le caract\u00e8re recouvrable de ses d\u00e9ficits</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">fiscaux reportables en se basant sur les projections \u00e0</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:50.36pt\">cinq\u00a0ans des </span><span class=\"f charStyle-81f42323 ps5728\" style=\"width:167.58pt\">r\u00e9sultats fiscaux attendus, \u00e9tablies \u00e0 partir des</span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> </span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:57.21pt\">plans \u00e0 moyen </span><span class=\"f charStyle-165dec60 ps35086\" style=\"width:160.71pt\">terme pr\u00e9par\u00e9s par les entit\u00e9s du Groupe</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">et approuv\u00e9s par la Direction G\u00e9n\u00e9rale. En situation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.78pt\">d\u2019imp\u00f4t diff\u00e9r\u00e9 actif net, </span><span class=\"f charStyle-42e3db84 ps35087\" style=\"width:115.15pt\">la reconnaissance des d\u00e9ficits</span><span class=\"f charStyle-42e3db84 ps16299\" style=\"width:1.82pt\"> </span></div><div class=\"ps30871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:125.59pt\">fiscaux reportables comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps35088\" style=\"width:92.37pt\"> reconnus au bilan est</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">g\u00e9n\u00e9ralement limit\u00e9e \u00e0 une p\u00e9riode d\u2019un maximum de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17523 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:176.87pt\">cinq\u00a0ans. Les imp\u00f4ts \u00e0 payer et les cr\u00e9dits </span><span class=\"f charStyle-5064d44f ps29312\" style=\"width:41.04pt\">d\u2019imp\u00f4ts \u00e0</span><span class=\"f charStyle-5064d44f ps13258\" style=\"width:1.89pt\"> </span></div><div class=\"ps17524 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:190.55pt\">recevoir sur les distributions de dividendes pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps35089\" style=\"width:27.44pt\"> par les</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps35090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">soci\u00e9t\u00e9s du Groupe sont enregistr\u00e9s au compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.33pt\">r\u00e9sultat.</span><span class=\"f charStyle-165dec60 ps35091\" style=\"width:1.96pt\"> </span></div><div class=\"ps17527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">Les actifs et passifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s sont compens\u00e9s</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps35094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:28.56pt\">lorsqu\u2019il</span><span class=\"f charStyle-165dec60 ps35093\" style=\"width:189.41pt\"> existe un droit juridiquement ex\u00e9cutoire de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">compenser les actifs et passifs d\u2019imp\u00f4ts exigibles et que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:71.77pt\">les actifs et passifs </span><span class=\"f charStyle-81f42323 ps35096\" style=\"width:146.22pt\">d\u2019imp\u00f4ts diff\u00e9r\u00e9s concernent des imp\u00f4ts</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps35099 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:85.79pt\">sur le r\u00e9sultat pr\u00e9lev\u00e9s</span><span class=\"f charStyle-165dec60 ps35098\" style=\"width:132.19pt\"> par la m\u00eame autorit\u00e9 fiscale. En</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">France, Valeo a opt\u00e9 pour le r\u00e9gime de l\u2019int\u00e9gration</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">fiscale. Le Groupe int\u00e9gr\u00e9 comprend la soci\u00e9t\u00e9 m\u00e8re et</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">ses principales filiales fran\u00e7aises \u00e9ligibles \u00e0 ce r\u00e9gime. Le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">groupe Valeo a \u00e9galement opt\u00e9 pour des r\u00e9gimes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019int\u00e9gration fiscale (ou assimil\u00e9s) pour ses filiales</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps18000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">implant\u00e9es dans des pays dont la l\u00e9gislation offre cette</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps18002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:217.99pt\">possibilit\u00e9 (Allemagne, Espagne, Royaume-Uni et</span><span class=\"f charStyle-53279637 ps16296\" style=\"width:1.85pt\"> </span></div><div class=\"ps18003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:37.31pt\">\u00c9tats\u2011Unis</span><span class=\"f charStyle-165dec60 ps35102\" style=\"width:4.05pt\">).</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:332.81pt\">Les imp\u00f4ts diff\u00e9r\u00e9s par cat\u00e9gorie de diff\u00e9rences temporelles se r\u00e9partissent comme suit\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps35127 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">D\u00e9ficits reportables<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35103\">1\u00a0631<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35104\">1\u00a0670<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35105\">(414)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35106\">(431)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Engagements de retraite et assimil\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps27461\">144<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps27463\">163<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres provisions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps20879\">167<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35107\">164<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Stocks<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35108\">138<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35109\">133<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Provisions pour co\u00fbts sociaux et restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35110\">24<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35111\">46<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Outillages<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35046\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Immobilisations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18581\">180<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35112\">101<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35113\">285<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35114\">271<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">TOTAL IMP\u00d4TS DIFF\u00c9R\u00c9S BRUTS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27767 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps35115\">2\u00a0161<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27769 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps35115\">2\u00a0119<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17301 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Total des imp\u00f4ts diff\u00e9r\u00e9s actifs non reconnus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28111 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35116\">(1\u00a0424)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28113 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35117\">(1\u00a0427)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14331 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">TOTAL IMP\u00d4TS DIFF\u00c9R\u00c9S<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps28123\">737<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35120 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps35119\">692<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14348 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dont\u00a0:\u00a0 <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17310 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Imp\u00f4ts diff\u00e9r\u00e9s actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35122 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35121\">805<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35123 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps30690\">740<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14435 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Imp\u00f4ts diff\u00e9r\u00e9s passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35124 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps28325\">(68)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35125\">(48)<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12291 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.8pt\">Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35128\" style=\"width:68.32pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps35129\" style=\"width:400.11pt\">, les principaux pays pour lesquels des imp\u00f4ts diff\u00e9r\u00e9s actifs sur d\u00e9ficits fiscaux reportables sont reconnus</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:97.07pt\">au bilan sont les suivants\u00a0:</span></div><div class=\"ps35152 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2200\"><div><div class=\"ps30968 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss1460\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps31356\">Base d\u00e9ficits <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps17697\">reportables </span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss1460\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps26213\">\u00c9conomie <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps26044\">d'imp\u00f4ts</span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps35130\">potentielle<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Allemagne\u00a0</span><span class=\"f charStyle-4da12822 ps35131\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35132\">606<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35134 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps574\">168<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">\u00c9tats-Unis</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35135 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps574\">186<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35137 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps35136\">39<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Chine</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35139 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35138\">113<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35141 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35140\">28<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Br\u00e9sil\u00a0</span><span class=\"f charStyle-4da12822 ps35142\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35143 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18385\">106<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35144 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35136\">36<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11132 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9publique tch\u00e8que</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35145 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps28334\">55<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35146 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps28279\">12<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4260 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PRINCIPAUX PAYS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35147 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-3f403986 ps30550\">1\u00a0066<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35149 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-3f403986 ps35148\">283<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35150 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres pays<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35151 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps7851\">29<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17292 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL IMP\u00d4TS DIFF\u00c9R\u00c9S ACTIFS SUR D\u00c9FICITS REPORTABLES RECONNUS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27765 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324 ps574\">312<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.01pt\">Imp\u00f4ts diff\u00e9r\u00e9s reconnus sur la base d\u2019un horizon d\u2019utilisation sup\u00e9rieur \u00e0 5 ans. La quote-part relative \u00e0 une utilisation dans plus de 5 ans est</span><span class=\"f charStyle-776a1ec6 ps1225\" style=\"width:1.7pt\"> </span></div><div class=\"ps35154 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:125.82pt\">non significative au 31 d\u00e9cembre 2025.</span></div><div class=\"ps35155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:259.04pt\">Les d\u00e9ficits reportables sont reconnus dans la limite des imp\u00f4ts diff\u00e9r\u00e9s passifs.</span></div><div class=\"ps35156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:303.67pt\">, les actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s non reconnus par le Groupe se ventilent comme suit\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps35166 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2201\"><div><div class=\"ps30968 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1460\"><div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps35157\">Base<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss1460\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps26213\">\u00c9conomie <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps26044\">d'imp\u00f4ts</span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps35130\">potentielle<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1410\"><div><div class=\"ps746 ss1409\" style=\"font-size:12pt\"><span class=\"f charStyle-044fe383 ps10\">D\u00e9ficits reportables jusqu'aux exercices </span><span class=\"f charStyle-165dec60 ps35158\">2026</span><span class=\"f charStyle-044fe383 ps5844\"> \u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35159\">2029</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31627 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35121\">284<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31628 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps28309\">(37)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1410\"><div><div class=\"ps746 ss1409\" style=\"font-size:12pt\"><span class=\"f charStyle-044fe383 ps10\">D\u00e9ficits reportables en </span><span class=\"f charStyle-165dec60 ps18955\">2030<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps35160\"> et au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31633 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18385\">160<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31635 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35025\">(29)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">D\u00e9ficits reportables ind\u00e9finiment<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31640 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35161\">4\u00a0651<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31642 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35162\">(1\u00a0253)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-3f403986 ps10\">D\u00c9FICITS FISCAUX COURANTS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31647 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps35163\">5\u00a0095<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31649 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps34997\">(1\u00a0319)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Actifs d'imp\u00f4ts diff\u00e9r\u00e9s non reconnus sur diff\u00e9rences temporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31655 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35164\">(105)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10294 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35165 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps593\">(1\u00a0424)<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-546": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i576f41def6ca41a7932c0e9d63798c94\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">10<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps34939\"><span style=\"display:inline-block;height:13.55pt;width:29.88pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Imp\u00f4ts</span><span class=\"f charStyle-26f8f9e5 ps32885\"> sur les r\u00e9sultats<span class=\"f ps53\"> </span></span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">10.1<span id=\"ifd019f3000934149be6a6adc581ef506\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps34940\"><span style=\"display:inline-block;height:10.16pt;width:24.43pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Imp\u00f4ts sur les r\u00e9sultats<span class=\"f ps53\"> </span></span></div><div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:408.8pt\">La charge d\u2019imp\u00f4ts sur les r\u00e9sultats comprend l\u2019imp\u00f4t exigible et les imp\u00f4ts diff\u00e9r\u00e9s des soci\u00e9t\u00e9s consolid\u00e9es.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34942\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Les imp\u00f4ts relatifs aux \u00e9l\u00e9ments reconnus directement en autres \u00e9l\u00e9ments du r\u00e9sultat global sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps15281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:259.42pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global et non dans le compte de r\u00e9sultat.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34943\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps29596\" style=\"width:47.25pt\">Depuis le 1</span><span class=\"f charStyle-a820d4aa ps34944\" style=\"width:4.85pt\"><span class=\"f ps53\"> </span><sup>er</sup></span><span class=\"f charStyle-d96cb356 ps30755\" style=\"width:406.4pt\"> janvier 2024, le Groupe est soumis aux \u00ab\u00a0R\u00e8gles globales de lutte contre l'\u00e9rosion de la base<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps30536\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:52.15pt\">d'imposition\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps34945\" style=\"width:406.5pt\"> (dites \u00ab\u00a0R\u00e8gles GloBE\u00a0\u00bb) qui pr\u00e9voient une imposition minimale de 15\u00a0% dans chacune des juridictions dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:54.57pt\">lequel il op\u00e8re.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34946\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps18426 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">10.1.1<span id=\"ia01285b869ae4e7dbedd8968f05127d5\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps34947\"><span style=\"display:inline-block;height:8.71pt;width:12.65pt\"></span></span><span class=\"ps29285\">D\u00e9tail des imp\u00f4ts sur les r\u00e9sultats</span></span></div><div class=\"ps34959 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:354.75pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34949 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-6bef0edd ps34948\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34950 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps31339\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2194\"><div><div class=\"ps746 ss2193\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a696f64a ps10\" style=\"width:61.8pt\">Imp\u00f4ts courants<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34951 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a ps31382\">(315)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34952 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a ps20811\">(215)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss2194\"><div><div class=\"ps746 ss2193\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-a696f64a ps10\" style=\"width:56.54pt\">Imp\u00f4ts diff\u00e9r\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33775 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a ps34953\">110<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34955 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-a696f64a ps34954\">116<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10356 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-96b05324 ps10\">IMP\u00d4TS SUR LES R\u00c9SULTATS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34957 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-96b05324 ps34956\">(205)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps34958 ss1997\"><div><div class=\"ps746 ss589\"><span class=\"f charStyle-96b05324 ps29999\">(99)<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps34964 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:86.49pt\">Pour l\u2019exercice clos au </span><span class=\"f charStyle-165dec60 ps34960\" style=\"width:68.38pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps34961\" style=\"width:172.04pt\">, le Groupe constate une charge d\u2019imp\u00f4ts de </span><span class=\"f charStyle-165dec60 ps34962\" style=\"width:45.29pt\">205 millions</span><span class=\"f charStyle-165dec60 ps34963\" style=\"width:108.97pt\"> d\u2019euros, correspondant \u00e0 un<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1119\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps34970 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:18.46pt\">taux </span><span class=\"f charStyle-5064d44f ps34965\" style=\"width:73.08pt\">effectif d\u2019imp\u00f4ts de </span><span class=\"f charStyle-5064d44f ps34966\" style=\"width:22.95pt\">42,7 %<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps34967\" style=\"width:74.29pt\">. Cette charge inclut</span><span class=\"f charStyle-81f42323 ps34968\" style=\"width:169.42pt\"> notamment 1 million d\u2019euros reconnus au titre <span class=\"f ps53\"> </span></span><span class=\"f charStyle-5064d44f ps34969\" style=\"width:65.39pt\">des r\u00e8gles Pilier 2.<span class=\"f ps53\"> </span></span></div><div class=\"ps34972 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">10.1.2<span id=\"i4bd663070e5b45ae98723126bdc362bc\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps34971\"><span style=\"display:inline-block;height:8.71pt;width:10.86pt\"></span></span><span class=\"ps29285\">Analyse de la charge d\u2019imp\u00f4ts</span></span></div><div class=\"ps35007 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:354.75pt\"></td><td style=\"padding:0;width:63pt\"></td><td style=\"padding:0;width:63pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2194\"><div><div class=\"ps10243 ss2193\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34949 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-6bef0edd ps34948\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps34950 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-ae6044e9 ps31339\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2195\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-3f403986 ps10\">R\u00c9SULTAT AVANT IMP\u00d4TS <span class=\"f ps53\"> </span></span></div><div class=\"ps18922 ss2193\"><span class=\"f charStyle-3f403986 ps10\">(HORS\u00a0QUOTE\u00a0PART\u00a0DANS\u00a0LES\u00a0R\u00c9SULTATS\u00a0DES\u00a0ENTREPRISES\u00a0MISES\u00a0EN\u00a0\u00c9QUIVALENCE) </span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34951 ss2196\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-3f403986 ps34973\">480<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps34952 ss2196\"><div><div class=\"ps523 ss589\"><span class=\"f charStyle-3f403986 ps34974\">321<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps749 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-a696f64a ps10\">Taux normal d'imp\u00f4ts en France<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34975 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33131\"></span><span class=\"ps33131\">25,83 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34976 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps33131\"></span><span class=\"ps33131\">25,83 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss2197\"><div><div class=\"ps1259 ss2193\"><span class=\"f charStyle-3f403986 ps10\">(CHARGE) PROFIT D'IMP\u00d4TS TH\u00c9ORIQUE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps33787 ss2198\"><div><div class=\"ps32553 ss589\"><span class=\"f charStyle-3f403986 ps34228\">(124)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34978 ss2198\"><div><div class=\"ps32553 ss589\"><span class=\"f charStyle-3f403986 ps34977\">(83)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-a696f64a ps10\">Incidence des\u00a0:<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22743 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Imp\u00f4ts diff\u00e9r\u00e9s actifs non constat\u00e9s et pertes fiscales de l'exercice non utilis\u00e9es</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34980 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34979\">(34)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34981 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps31350\">(53)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Activation des imp\u00f4ts diff\u00e9r\u00e9s actifs non constat\u00e9s ant\u00e9rieurement</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34983 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34982\">25<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34985 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34984\">48<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Taux d'imp\u00f4ts diff\u00e9rents du taux normal</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34986 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps28696\">27<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34988 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34987\">3<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10386 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Utilisations de pertes fiscales des exercices ant\u00e9rieurs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34989 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps31972\">18<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34991 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34990\">26<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10393 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Diff\u00e9rences permanentes entre les r\u00e9sultats comptables et les r\u00e9sultats imposables</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34993 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34992\">(114)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34994 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34979\">(43)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23681 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Cr\u00e9dits d'imp\u00f4ts</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34996 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34995\">1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34998 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34997\">6<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps26428 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-7cdc335a ps510\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps511\">Cotisation sur la Valeur Ajout\u00e9e des Entreprises (CVAE)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35000 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps34999\">(4)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35001 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a ps33180\">(3)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25634 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-3f403986 ps10\">(CHARGE) PROFIT D'IMP\u00d4TS DU GROUPE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35002 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-3f403986 ps25905\">(205)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35004 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-3f403986 ps35003\">(99)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27887 ss2194\"><div><div class=\"ps746 ss2193\"><span class=\"f charStyle-a696f64a ps10\">Taux effectif d'imp\u00f4t<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35005 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps25933\"></span><span class=\"ps25933\">42,7 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35006 ss1997\"><div><div class=\"ps509 ss589\"><span class=\"f charStyle-a696f64a\"><span class=\"ps9766\"></span><span class=\"ps9766\">30,8 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:160.25pt\">La charge d'imp\u00f4t pour l'exercice clos au </span><span class=\"f charStyle-165dec60 ps5227\" style=\"width:69.04pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">tient compte de pr\u00e9l\u00e8vements \u00e0 la source de 41 millions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">d\u2019euros en lien avec des distributions de dividendes entre</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps6704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">filiales du Groupe et de la reconnaissance d'actifs d'imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps6705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:169.28pt\">diff\u00e9r\u00e9s notamment en R\u00e9publique Tch\u00e8que.</span></div><div class=\"ps35008 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:229.25pt\">Le groupe Valeo consid\u00e8re que la Cotisation sur la Valeur</span><span class=\"f charStyle-81f42323 ps689\" style=\"width:1.78pt\"> </span></div><div class=\"ps13475 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:28pt\">Ajout\u00e9e</span><span class=\"f charStyle-165dec60 ps35010\" style=\"width:201.27pt\"> des Entreprises (CVAE) correspond \u00e0 la d\u00e9finition</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps35009 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:229.31pt\">d\u2019un imp\u00f4t, tel que pr\u00e9cis\u00e9 par IAS 12. Les imp\u00f4ts sur les</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps6704 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:36.69pt\">r\u00e9sultats </span><span class=\"f charStyle-53279637 ps35011\" style=\"width:13.56pt\">en\u00a0</span><span class=\"f charStyle-53279637 ps35012\" style=\"width:17.26pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-53279637 ps35013\" style=\"width:161.82pt\"> comprennent ainsi une charge nette de</span><span class=\"f charStyle-53279637 ps450\" style=\"width:1.85pt\"> </span></div><div class=\"ps6705 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:4.84pt\">4</span><span class=\"f charStyle-53279637 ps35014\" style=\"width:63.85pt\">\u00a0millions d\u2019euros</span><span class=\"f charStyle-165dec60 ps35015\" style=\"width:90.68pt\"> au titre de la CVAE (</span><span class=\"f charStyle-165dec60 ps35016\" style=\"width:4.22pt\">3<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35017\" style=\"width:65.72pt\"> millions d\u2019euros<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps6706 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:11.56pt\">en\u00a0</span><span class=\"f charStyle-165dec60 ps35018\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps35019\" style=\"width:4.05pt\">).</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:101.03pt\">L\u2019incidence favorable des </span><span class=\"f charStyle-165dec60 ps35020\" style=\"width:8.66pt\">27<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35021\" style=\"width:371.52pt\"> millions d\u2019euros li\u00e9e \u00e0 des taux d\u2019imp\u00f4ts diff\u00e9rents du taux normal se d\u00e9compose de la fa\u00e7on<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1722\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2248 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante :</span></div><div class=\"ps6896 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:237.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2199\"><div><div class=\"ps523 ss516\"><span class=\"f charStyle-ae6044e9 ps10\">Pays<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps7998 ss1455\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-98f46611 ps9998\">Taux d'imp\u00f4t</span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-98f46611 ps25774\">courant\u00a0</span><span class=\"f charStyle-d93fd2c0 ps34454\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps747 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Allemagne<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35023 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35022\"></span><span class=\"ps35022\">27,8 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps30094 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35024\">7<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps20333 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35025\">(26)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps749 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Br\u00e9sil</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34455 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35026\"></span><span class=\"ps35026\">34,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30097 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20336 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17207 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Chine<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34456 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35027\"></span><span class=\"ps35027\">25,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30100 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35028\">(1)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20339 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35028\">(1)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17210 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Cor\u00e9e du Sud<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34458 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35029\"></span><span class=\"ps35029\">23,1 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30101 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35030\">3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20342 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps10310\">13<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10445 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">\u00c9tats-Unis<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34459 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35031\"></span><span class=\"ps35031\">21,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30105 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35032\">(3)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30107 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11367 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Hongrie</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps34461 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10341\"></span><span class=\"ps10341\">9,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30109 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35034\">4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30110 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35035\">8<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23894 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Irlande</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35036 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps30104\"></span><span class=\"ps30104\">12,5 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30112 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35035\">8<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30114 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35030\">3<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23036 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Japon</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35038 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35037\"></span><span class=\"ps35037\">31,6 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30116 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35028\">(1)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps25253 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Maroc<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35040 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35039\"></span><span class=\"ps35039\">8,8 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30119 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35030\">3<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps30121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35041\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3476 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-044fe383 ps10\">Pologne</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35042 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps34997\"></span><span class=\"ps34997\">19,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35043 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35044 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35028\">(1)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps530 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">R\u00e9publique tch\u00e8que<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35045 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35031\"></span><span class=\"ps35031\">21,0 %<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35047 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35046\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35048 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35035\">8<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10549 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-a696f64a ps10\">Autres pays<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35049 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18577\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35050 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35046\">2<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35052 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35051\">(4)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps3846 ss517\"><div><div class=\"ps746 ss516\"><span class=\"f charStyle-96b05324 ps10\">TOTAL <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35054 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps35053\">27<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35056 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps35055\">3<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35057 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.02pt\">Le taux d\u2019imp\u00f4t courant indiqu\u00e9 est le taux effectif \u00e0 la date de cl\u00f4ture de l\u2019exercice. Le taux d\u2019imp\u00f4t utilis\u00e9 pour le calcul des imp\u00f4ts diff\u00e9r\u00e9s</span><span class=\"f charStyle-776a1ec6 ps1121\" style=\"width:1.7pt\"> </span></div><div class=\"ps35058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:318.39pt\">prend en compte les \u00e9ventuels changements adopt\u00e9s du taux de l\u2019imp\u00f4t sur les exercices \u00e0 venir.<span class=\"f ps53\"> </span></span></div><div class=\"ps35060 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">10.2<span id=\"i3c2770347774403ba0c30a0d337f1577\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps35059\"><span style=\"display:inline-block;height:10.16pt;width:22.35pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Imp\u00f4ts diff\u00e9r\u00e9s<span class=\"f ps53\"> </span></span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.94pt\">Les imp\u00f4ts diff\u00e9r\u00e9s sont calcul\u00e9s selon l\u2019approche</span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:36.06pt\">bilantielle<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35062\" style=\"width:181.93pt\"> de la m\u00e9thode du report variable pour toutes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">les diff\u00e9rences temporelles provenant de la diff\u00e9rence</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">entre la base fiscale et la base comptable des actifs et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.71pt\">passifs, ainsi que pour les pertes fiscales reportables.</span><span class=\"f charStyle-165dec60 ps35063\" style=\"width:1.96pt\"> </span></div><div class=\"ps35064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les principales diff\u00e9rences temporelles sont li\u00e9es aux</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:30.2pt\">d\u00e9ficits </span><span class=\"f charStyle-42e3db84 ps35065\" style=\"width:187.74pt\">reportables, aux provisions pour retraites et autres</span><span class=\"f charStyle-42e3db84 ps610\" style=\"width:1.82pt\"> </span></div><div class=\"ps35069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:33.97pt\">avantage</span><span class=\"f charStyle-165dec60 ps35067\" style=\"width:11.48pt\">s a</span><span class=\"f charStyle-5dca4c00 ps35068\" style=\"width:172.51pt\">ssimil\u00e9s, aux autres provisions temporairement</span><span class=\"f charStyle-5dca4c00 ps608\" style=\"width:1.74pt\"> </span></div><div class=\"ps35072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps6588\" style=\"width:64.58pt\">non d\u00e9ductibles</span><span class=\"f charStyle-165dec60 ps35070\" style=\"width:8.76pt\"> </span><span class=\"f charStyle-9206869b ps35071\" style=\"width:144.62pt\">fiscalement ainsi qu\u2019aux frais de</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps35074 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:108.12pt\">d\u00e9veloppement immobilis\u00e9s.</span><span class=\"f charStyle-165dec60 ps35073\" style=\"width:109.85pt\"> Les actifs et passifs d\u2019imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35075 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diff\u00e9r\u00e9s sont calcul\u00e9s en utilisant les taux d\u2019imp\u00f4ts vot\u00e9s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17525 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ou quasi adopt\u00e9s qui seront en vigueur au moment du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.46pt\">renversement des diff\u00e9rences temporelles.<span class=\"f ps53\"> </span></span></div><div class=\"ps30879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s ne sont comptabilis\u00e9s que</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17528 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">dans la mesure o\u00f9 il est probable que Valeo disposera de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps17529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">b\u00e9n\u00e9fices futurs imposables sur lesquels ces actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17531 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">pourront \u00eatre imput\u00e9s. Les perspectives de r\u00e9cup\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35077 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:49.85pt\">des imp\u00f4ts d</span><span class=\"f charStyle-9206869b ps35076\" style=\"width:168.09pt\">iff\u00e9r\u00e9s actifs sont revues p\u00e9riodiquement par<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:48.51pt\">entit\u00e9 fiscale</span><span class=\"f charStyle-165dec60 ps35078\" style=\"width:169.41pt\"> et peuvent, le cas \u00e9ch\u00e9ant, conduire \u00e0 ne</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps35080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">plus reconna\u00eetre des imp\u00f4ts diff\u00e9r\u00e9s actifs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35082 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.57pt\">ant\u00e9rieurement constat\u00e9s. Ces </span><span class=\"f charStyle-81f42323 ps35081\" style=\"width:67.41pt\">perspectives de</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps29365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:184.05pt\">r\u00e9cup\u00e9ration sont analys\u00e9es selon la m\u00e9thode</span><span class=\"f charStyle-165dec60 ps35083\" style=\"width:33.9pt\"> la plus</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">appropri\u00e9e au vu de l\u2019organisation juridique et fiscale de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps35084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9, de son historique fiscal et de ses perspectives de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:98.11pt\">revenu imposable projet\u00e9.</span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Chaque entit\u00e9 ou groupe d\u2019int\u00e9gration fiscale \u00e9value</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">chaque ann\u00e9e le caract\u00e8re recouvrable de ses d\u00e9ficits</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">fiscaux reportables en se basant sur les projections \u00e0</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:50.36pt\">cinq\u00a0ans des </span><span class=\"f charStyle-81f42323 ps5728\" style=\"width:167.58pt\">r\u00e9sultats fiscaux attendus, \u00e9tablies \u00e0 partir des</span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> </span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:57.21pt\">plans \u00e0 moyen </span><span class=\"f charStyle-165dec60 ps35086\" style=\"width:160.71pt\">terme pr\u00e9par\u00e9s par les entit\u00e9s du Groupe</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">et approuv\u00e9s par la Direction G\u00e9n\u00e9rale. En situation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.78pt\">d\u2019imp\u00f4t diff\u00e9r\u00e9 actif net, </span><span class=\"f charStyle-42e3db84 ps35087\" style=\"width:115.15pt\">la reconnaissance des d\u00e9ficits</span><span class=\"f charStyle-42e3db84 ps16299\" style=\"width:1.82pt\"> </span></div><div class=\"ps30871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:125.59pt\">fiscaux reportables comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps35088\" style=\"width:92.37pt\"> reconnus au bilan est</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">g\u00e9n\u00e9ralement limit\u00e9e \u00e0 une p\u00e9riode d\u2019un maximum de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17523 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:176.87pt\">cinq\u00a0ans. Les imp\u00f4ts \u00e0 payer et les cr\u00e9dits </span><span class=\"f charStyle-5064d44f ps29312\" style=\"width:41.04pt\">d\u2019imp\u00f4ts \u00e0</span><span class=\"f charStyle-5064d44f ps13258\" style=\"width:1.89pt\"> </span></div><div class=\"ps17524 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:190.55pt\">recevoir sur les distributions de dividendes pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps35089\" style=\"width:27.44pt\"> par les</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps35090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">soci\u00e9t\u00e9s du Groupe sont enregistr\u00e9s au compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.33pt\">r\u00e9sultat.</span><span class=\"f charStyle-165dec60 ps35091\" style=\"width:1.96pt\"> </span></div><div class=\"ps17527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">Les actifs et passifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s sont compens\u00e9s</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps35094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:28.56pt\">lorsqu\u2019il</span><span class=\"f charStyle-165dec60 ps35093\" style=\"width:189.41pt\"> existe un droit juridiquement ex\u00e9cutoire de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">compenser les actifs et passifs d\u2019imp\u00f4ts exigibles et que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:71.77pt\">les actifs et passifs </span><span class=\"f charStyle-81f42323 ps35096\" style=\"width:146.22pt\">d\u2019imp\u00f4ts diff\u00e9r\u00e9s concernent des imp\u00f4ts</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps35099 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:85.79pt\">sur le r\u00e9sultat pr\u00e9lev\u00e9s</span><span class=\"f charStyle-165dec60 ps35098\" style=\"width:132.19pt\"> par la m\u00eame autorit\u00e9 fiscale. En</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">France, Valeo a opt\u00e9 pour le r\u00e9gime de l\u2019int\u00e9gration</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">fiscale. Le Groupe int\u00e9gr\u00e9 comprend la soci\u00e9t\u00e9 m\u00e8re et</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">ses principales filiales fran\u00e7aises \u00e9ligibles \u00e0 ce r\u00e9gime. Le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">groupe Valeo a \u00e9galement opt\u00e9 pour des r\u00e9gimes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019int\u00e9gration fiscale (ou assimil\u00e9s) pour ses filiales</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps18000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">implant\u00e9es dans des pays dont la l\u00e9gislation offre cette</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps18002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:217.99pt\">possibilit\u00e9 (Allemagne, Espagne, Royaume-Uni et</span><span class=\"f charStyle-53279637 ps16296\" style=\"width:1.85pt\"> </span></div><div class=\"ps18003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:37.31pt\">\u00c9tats\u2011Unis</span><span class=\"f charStyle-165dec60 ps35102\" style=\"width:4.05pt\">).</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:332.81pt\">Les imp\u00f4ts diff\u00e9r\u00e9s par cat\u00e9gorie de diff\u00e9rences temporelles se r\u00e9partissent comme suit\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps35127 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps27142\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps27733\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">D\u00e9ficits reportables<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35103\">1\u00a0631<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35104\">1\u00a0670<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Frais de d\u00e9veloppement immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35105\">(414)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35106\">(431)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Engagements de retraite et assimil\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps27461\">144<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps27463\">163<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres provisions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps20879\">167<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35107\">164<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Stocks<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35108\">138<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35109\">133<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Provisions pour co\u00fbts sociaux et restructuration<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27751 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35110\">24<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27753 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35111\">46<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Outillages<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27755 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27757 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35046\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Immobilisations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27759 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18581\">180<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27761 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35112\">101<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17292 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27763 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35113\">285<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27765 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35114\">271<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3710 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">TOTAL IMP\u00d4TS DIFF\u00c9R\u00c9S BRUTS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27767 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps35115\">2\u00a0161<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27769 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps35115\">2\u00a0119<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17301 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Total des imp\u00f4ts diff\u00e9r\u00e9s actifs non reconnus<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28111 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35116\">(1\u00a0424)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28113 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35117\">(1\u00a0427)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14331 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">TOTAL IMP\u00d4TS DIFF\u00c9R\u00c9S<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35118 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps28123\">737<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35120 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps35119\">692<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14348 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dont\u00a0:\u00a0 <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps17310 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Imp\u00f4ts diff\u00e9r\u00e9s actifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35122 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35121\">805<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35123 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps30690\">740<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14435 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Imp\u00f4ts diff\u00e9r\u00e9s passifs</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35124 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps28325\">(68)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35125\">(48)<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps12291 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.8pt\">Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35128\" style=\"width:68.32pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps35129\" style=\"width:400.11pt\">, les principaux pays pour lesquels des imp\u00f4ts diff\u00e9r\u00e9s actifs sur d\u00e9ficits fiscaux reportables sont reconnus</span><span class=\"f charStyle-165dec60 ps1296\" style=\"width:1.96pt\"> </span></div><div class=\"ps12293 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:97.07pt\">au bilan sont les suivants\u00a0:</span></div><div class=\"ps35152 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2200\"><div><div class=\"ps30968 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss1460\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps31356\">Base d\u00e9ficits <span class=\"f ps53\"> </span></span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps17697\">reportables </span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss1460\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps26213\">\u00c9conomie <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps26044\">d'imp\u00f4ts</span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps35130\">potentielle<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Allemagne\u00a0</span><span class=\"f charStyle-4da12822 ps35131\"><sup>(2)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35133 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35132\">606<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35134 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps574\">168<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">\u00c9tats-Unis</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35135 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps574\">186<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35137 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps35136\">39<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps760 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Chine</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35139 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35138\">113<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35141 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35140\">28<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps761 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Br\u00e9sil\u00a0</span><span class=\"f charStyle-4da12822 ps35142\"><sup>(1)</sup></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35143 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18385\">106<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35144 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35136\">36<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11132 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9publique tch\u00e8que</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35145 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps28334\">55<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35146 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps28279\">12<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4260 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PRINCIPAUX PAYS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35147 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-3f403986 ps30550\">1\u00a0066<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35149 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-3f403986 ps35148\">283<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35150 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres pays<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35151 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-a696f64a ps7851\">29<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:14.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17292 ss1938\"><div><div class=\"ps1259 ss1864\"><span class=\"f charStyle-96b05324 ps10\">TOTAL IMP\u00d4TS DIFF\u00c9R\u00c9S ACTIFS SUR D\u00c9FICITS REPORTABLES RECONNUS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps27765 ss1919\"><div><div class=\"ps1259 ss670\"><span class=\"f charStyle-96b05324 ps574\">312<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35153 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.01pt\">Imp\u00f4ts diff\u00e9r\u00e9s reconnus sur la base d\u2019un horizon d\u2019utilisation sup\u00e9rieur \u00e0 5 ans. La quote-part relative \u00e0 une utilisation dans plus de 5 ans est</span><span class=\"f charStyle-776a1ec6 ps1225\" style=\"width:1.7pt\"> </span></div><div class=\"ps35154 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:125.82pt\">non significative au 31 d\u00e9cembre 2025.</span></div><div class=\"ps35155 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:259.04pt\">Les d\u00e9ficits reportables sont reconnus dans la limite des imp\u00f4ts diff\u00e9r\u00e9s passifs.</span></div><div class=\"ps35156 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:12.37pt\">Au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30401\" style=\"width:67.46pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps30402\" style=\"width:303.67pt\">, les actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s non reconnus par le Groupe se ventilent comme suit\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps35166 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:33pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2201\"><div><div class=\"ps30968 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss1460\"><div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps35157\">Base<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss1460\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps26213\">\u00c9conomie <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss670\"><span class=\"f charStyle-ae6044e9 ps26044\">d'imp\u00f4ts</span></div><div class=\"ps4232 ss670\"><span class=\"f charStyle-ae6044e9 ps35130\">potentielle<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps11379 ss1410\"><div><div class=\"ps746 ss1409\" style=\"font-size:12pt\"><span class=\"f charStyle-044fe383 ps10\">D\u00e9ficits reportables jusqu'aux exercices </span><span class=\"f charStyle-165dec60 ps35158\">2026</span><span class=\"f charStyle-044fe383 ps5844\"> \u00e0 <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35159\">2029</span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31627 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35121\">284<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31628 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps28309\">(37)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps13841 ss1410\"><div><div class=\"ps746 ss1409\" style=\"font-size:12pt\"><span class=\"f charStyle-044fe383 ps10\">D\u00e9ficits reportables en </span><span class=\"f charStyle-165dec60 ps18955\">2030<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps35160\"> et au-del\u00e0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31633 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps18385\">160<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31635 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35025\">(29)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps20763 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">D\u00e9ficits reportables ind\u00e9finiment<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31640 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35161\">4\u00a0651<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31642 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35162\">(1\u00a0253)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10260 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-3f403986 ps10\">D\u00c9FICITS FISCAUX COURANTS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31647 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps35163\">5\u00a0095<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31649 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-3f403986 ps34997\">(1\u00a0319)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10265 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Actifs d'imp\u00f4ts diff\u00e9r\u00e9s non reconnus sur diff\u00e9rences temporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31655 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35164\">(105)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10294 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35165 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps593\">(1\u00a0424)<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-548": {
   "value": "<div class=\"ps10413 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:408.8pt\">La charge d\u2019imp\u00f4ts sur les r\u00e9sultats comprend l\u2019imp\u00f4t exigible et les imp\u00f4ts diff\u00e9r\u00e9s des soci\u00e9t\u00e9s consolid\u00e9es.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34942\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps15280 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:458.58pt\">Les imp\u00f4ts relatifs aux \u00e9l\u00e9ments reconnus directement en autres \u00e9l\u00e9ments du r\u00e9sultat global sont comptabilis\u00e9s en</span><span class=\"f charStyle-165dec60 ps13258\" style=\"width:1.96pt\"> </span></div><div class=\"ps15281 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:259.42pt\">autres \u00e9l\u00e9ments du r\u00e9sultat global et non dans le compte de r\u00e9sultat.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34943\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9256 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps29596\" style=\"width:47.25pt\">Depuis le 1</span><span class=\"f charStyle-a820d4aa ps34944\" style=\"width:4.85pt\"><span class=\"f ps53\"> </span><sup>er</sup></span><span class=\"f charStyle-d96cb356 ps30755\" style=\"width:406.4pt\"> janvier 2024, le Groupe est soumis aux \u00ab\u00a0R\u00e8gles globales de lutte contre l'\u00e9rosion de la base<span class=\"f ps53\"> </span></span><span class=\"f charStyle-d96cb356 ps30536\" style=\"width:1.92pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9257 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps6588\" style=\"width:52.15pt\">d'imposition\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps34945\" style=\"width:406.5pt\"> (dites \u00ab\u00a0R\u00e8gles GloBE\u00a0\u00bb) qui pr\u00e9voient une imposition minimale de 15\u00a0% dans chacune des juridictions dans<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:54.57pt\">lequel il op\u00e8re.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps34946\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.94pt\">Les imp\u00f4ts diff\u00e9r\u00e9s sont calcul\u00e9s selon l\u2019approche</span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:36.06pt\">bilantielle<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35062\" style=\"width:181.93pt\"> de la m\u00e9thode du report variable pour toutes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">les diff\u00e9rences temporelles provenant de la diff\u00e9rence</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">entre la base fiscale et la base comptable des actifs et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.71pt\">passifs, ainsi que pour les pertes fiscales reportables.</span><span class=\"f charStyle-165dec60 ps35063\" style=\"width:1.96pt\"> </span></div><div class=\"ps35064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les principales diff\u00e9rences temporelles sont li\u00e9es aux</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:30.2pt\">d\u00e9ficits </span><span class=\"f charStyle-42e3db84 ps35065\" style=\"width:187.74pt\">reportables, aux provisions pour retraites et autres</span><span class=\"f charStyle-42e3db84 ps610\" style=\"width:1.82pt\"> </span></div><div class=\"ps35069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:33.97pt\">avantage</span><span class=\"f charStyle-165dec60 ps35067\" style=\"width:11.48pt\">s a</span><span class=\"f charStyle-5dca4c00 ps35068\" style=\"width:172.51pt\">ssimil\u00e9s, aux autres provisions temporairement</span><span class=\"f charStyle-5dca4c00 ps608\" style=\"width:1.74pt\"> </span></div><div class=\"ps35072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps6588\" style=\"width:64.58pt\">non d\u00e9ductibles</span><span class=\"f charStyle-165dec60 ps35070\" style=\"width:8.76pt\"> </span><span class=\"f charStyle-9206869b ps35071\" style=\"width:144.62pt\">fiscalement ainsi qu\u2019aux frais de</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps35074 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:108.12pt\">d\u00e9veloppement immobilis\u00e9s.</span><span class=\"f charStyle-165dec60 ps35073\" style=\"width:109.85pt\"> Les actifs et passifs d\u2019imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35075 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diff\u00e9r\u00e9s sont calcul\u00e9s en utilisant les taux d\u2019imp\u00f4ts vot\u00e9s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17525 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ou quasi adopt\u00e9s qui seront en vigueur au moment du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.46pt\">renversement des diff\u00e9rences temporelles.<span class=\"f ps53\"> </span></span></div><div class=\"ps30879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s ne sont comptabilis\u00e9s que</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17528 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">dans la mesure o\u00f9 il est probable que Valeo disposera de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps17529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">b\u00e9n\u00e9fices futurs imposables sur lesquels ces actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17531 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">pourront \u00eatre imput\u00e9s. Les perspectives de r\u00e9cup\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35077 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:49.85pt\">des imp\u00f4ts d</span><span class=\"f charStyle-9206869b ps35076\" style=\"width:168.09pt\">iff\u00e9r\u00e9s actifs sont revues p\u00e9riodiquement par<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:48.51pt\">entit\u00e9 fiscale</span><span class=\"f charStyle-165dec60 ps35078\" style=\"width:169.41pt\"> et peuvent, le cas \u00e9ch\u00e9ant, conduire \u00e0 ne</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps35080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">plus reconna\u00eetre des imp\u00f4ts diff\u00e9r\u00e9s actifs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35082 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.57pt\">ant\u00e9rieurement constat\u00e9s. Ces </span><span class=\"f charStyle-81f42323 ps35081\" style=\"width:67.41pt\">perspectives de</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps29365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:184.05pt\">r\u00e9cup\u00e9ration sont analys\u00e9es selon la m\u00e9thode</span><span class=\"f charStyle-165dec60 ps35083\" style=\"width:33.9pt\"> la plus</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">appropri\u00e9e au vu de l\u2019organisation juridique et fiscale de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps35084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9, de son historique fiscal et de ses perspectives de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:98.11pt\">revenu imposable projet\u00e9.</span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Chaque entit\u00e9 ou groupe d\u2019int\u00e9gration fiscale \u00e9value</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">chaque ann\u00e9e le caract\u00e8re recouvrable de ses d\u00e9ficits</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">fiscaux reportables en se basant sur les projections \u00e0</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:50.36pt\">cinq\u00a0ans des </span><span class=\"f charStyle-81f42323 ps5728\" style=\"width:167.58pt\">r\u00e9sultats fiscaux attendus, \u00e9tablies \u00e0 partir des</span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> </span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:57.21pt\">plans \u00e0 moyen </span><span class=\"f charStyle-165dec60 ps35086\" style=\"width:160.71pt\">terme pr\u00e9par\u00e9s par les entit\u00e9s du Groupe</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">et approuv\u00e9s par la Direction G\u00e9n\u00e9rale. En situation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.78pt\">d\u2019imp\u00f4t diff\u00e9r\u00e9 actif net, </span><span class=\"f charStyle-42e3db84 ps35087\" style=\"width:115.15pt\">la reconnaissance des d\u00e9ficits</span><span class=\"f charStyle-42e3db84 ps16299\" style=\"width:1.82pt\"> </span></div><div class=\"ps30871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:125.59pt\">fiscaux reportables comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps35088\" style=\"width:92.37pt\"> reconnus au bilan est</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">g\u00e9n\u00e9ralement limit\u00e9e \u00e0 une p\u00e9riode d\u2019un maximum de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17523 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:176.87pt\">cinq\u00a0ans. Les imp\u00f4ts \u00e0 payer et les cr\u00e9dits </span><span class=\"f charStyle-5064d44f ps29312\" style=\"width:41.04pt\">d\u2019imp\u00f4ts \u00e0</span><span class=\"f charStyle-5064d44f ps13258\" style=\"width:1.89pt\"> </span></div><div class=\"ps17524 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:190.55pt\">recevoir sur les distributions de dividendes pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps35089\" style=\"width:27.44pt\"> par les</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps35090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">soci\u00e9t\u00e9s du Groupe sont enregistr\u00e9s au compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.33pt\">r\u00e9sultat.</span><span class=\"f charStyle-165dec60 ps35091\" style=\"width:1.96pt\"> </span></div><div class=\"ps17527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">Les actifs et passifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s sont compens\u00e9s</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps35094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:28.56pt\">lorsqu\u2019il</span><span class=\"f charStyle-165dec60 ps35093\" style=\"width:189.41pt\"> existe un droit juridiquement ex\u00e9cutoire de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">compenser les actifs et passifs d\u2019imp\u00f4ts exigibles et que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:71.77pt\">les actifs et passifs </span><span class=\"f charStyle-81f42323 ps35096\" style=\"width:146.22pt\">d\u2019imp\u00f4ts diff\u00e9r\u00e9s concernent des imp\u00f4ts</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps35099 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:85.79pt\">sur le r\u00e9sultat pr\u00e9lev\u00e9s</span><span class=\"f charStyle-165dec60 ps35098\" style=\"width:132.19pt\"> par la m\u00eame autorit\u00e9 fiscale. En</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">France, Valeo a opt\u00e9 pour le r\u00e9gime de l\u2019int\u00e9gration</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">fiscale. Le Groupe int\u00e9gr\u00e9 comprend la soci\u00e9t\u00e9 m\u00e8re et</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">ses principales filiales fran\u00e7aises \u00e9ligibles \u00e0 ce r\u00e9gime. Le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">groupe Valeo a \u00e9galement opt\u00e9 pour des r\u00e9gimes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019int\u00e9gration fiscale (ou assimil\u00e9s) pour ses filiales</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps18000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">implant\u00e9es dans des pays dont la l\u00e9gislation offre cette</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps18002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:217.99pt\">possibilit\u00e9 (Allemagne, Espagne, Royaume-Uni et</span><span class=\"f charStyle-53279637 ps16296\" style=\"width:1.85pt\"> </span></div><div class=\"ps18003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:37.31pt\">\u00c9tats\u2011Unis</span><span class=\"f charStyle-165dec60 ps35102\" style=\"width:4.05pt\">).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-549": {
   "value": "<div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:217.94pt\">Les imp\u00f4ts diff\u00e9r\u00e9s sont calcul\u00e9s selon l\u2019approche</span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:36.06pt\">bilantielle<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35062\" style=\"width:181.93pt\"> de la m\u00e9thode du report variable pour toutes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">les diff\u00e9rences temporelles provenant de la diff\u00e9rence</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">entre la base fiscale et la base comptable des actifs et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:195.71pt\">passifs, ainsi que pour les pertes fiscales reportables.</span><span class=\"f charStyle-165dec60 ps35063\" style=\"width:1.96pt\"> </span></div><div class=\"ps35064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">Les principales diff\u00e9rences temporelles sont li\u00e9es aux</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:30.2pt\">d\u00e9ficits </span><span class=\"f charStyle-42e3db84 ps35065\" style=\"width:187.74pt\">reportables, aux provisions pour retraites et autres</span><span class=\"f charStyle-42e3db84 ps610\" style=\"width:1.82pt\"> </span></div><div class=\"ps35069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps6588\" style=\"width:33.97pt\">avantage</span><span class=\"f charStyle-165dec60 ps35067\" style=\"width:11.48pt\">s a</span><span class=\"f charStyle-5dca4c00 ps35068\" style=\"width:172.51pt\">ssimil\u00e9s, aux autres provisions temporairement</span><span class=\"f charStyle-5dca4c00 ps608\" style=\"width:1.74pt\"> </span></div><div class=\"ps35072 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps6588\" style=\"width:64.58pt\">non d\u00e9ductibles</span><span class=\"f charStyle-165dec60 ps35070\" style=\"width:8.76pt\"> </span><span class=\"f charStyle-9206869b ps35071\" style=\"width:144.62pt\">fiscalement ainsi qu\u2019aux frais de</span><span class=\"f charStyle-9206869b ps608\" style=\"width:1.9pt\"> </span></div><div class=\"ps35074 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:108.12pt\">d\u00e9veloppement immobilis\u00e9s.</span><span class=\"f charStyle-165dec60 ps35073\" style=\"width:109.85pt\"> Les actifs et passifs d\u2019imp\u00f4ts</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35075 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.93pt\">diff\u00e9r\u00e9s sont calcul\u00e9s en utilisant les taux d\u2019imp\u00f4ts vot\u00e9s</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17525 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">ou quasi adopt\u00e9s qui seront en vigueur au moment du</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17526 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:160.46pt\">renversement des diff\u00e9rences temporelles.<span class=\"f ps53\"> </span></span></div><div class=\"ps30879 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">Les actifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s ne sont comptabilis\u00e9s que</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17528 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">dans la mesure o\u00f9 il est probable que Valeo disposera de</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps17529 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.99pt\">b\u00e9n\u00e9fices futurs imposables sur lesquels ces actifs</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17531 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.94pt\">pourront \u00eatre imput\u00e9s. Les perspectives de r\u00e9cup\u00e9ration<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35077 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:49.85pt\">des imp\u00f4ts d</span><span class=\"f charStyle-9206869b ps35076\" style=\"width:168.09pt\">iff\u00e9r\u00e9s actifs sont revues p\u00e9riodiquement par<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9206869b ps610\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35079 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9206869b ps6588\" style=\"width:48.51pt\">entit\u00e9 fiscale</span><span class=\"f charStyle-165dec60 ps35078\" style=\"width:169.41pt\"> et peuvent, le cas \u00e9ch\u00e9ant, conduire \u00e0 ne</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps35080 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">plus reconna\u00eetre des imp\u00f4ts diff\u00e9r\u00e9s actifs</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35082 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:150.57pt\">ant\u00e9rieurement constat\u00e9s. Ces </span><span class=\"f charStyle-81f42323 ps35081\" style=\"width:67.41pt\">perspectives de</span><span class=\"f charStyle-81f42323 ps431\" style=\"width:1.78pt\"> </span></div><div class=\"ps29365 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:184.05pt\">r\u00e9cup\u00e9ration sont analys\u00e9es selon la m\u00e9thode</span><span class=\"f charStyle-165dec60 ps35083\" style=\"width:33.9pt\"> la plus</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps29368 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">appropri\u00e9e au vu de l\u2019organisation juridique et fiscale de</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps35084 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">l\u2019entit\u00e9, de son historique fiscal et de ses perspectives de</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35085 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:98.11pt\">revenu imposable projet\u00e9.</span></div><div class=\"ps30177 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">Chaque entit\u00e9 ou groupe d\u2019int\u00e9gration fiscale \u00e9value</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30178 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">chaque ann\u00e9e le caract\u00e8re recouvrable de ses d\u00e9ficits</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps30179 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.92pt\">fiscaux reportables en se basant sur les projections \u00e0</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30865 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:50.36pt\">cinq\u00a0ans des </span><span class=\"f charStyle-81f42323 ps5728\" style=\"width:167.58pt\">r\u00e9sultats fiscaux attendus, \u00e9tablies \u00e0 partir des</span><span class=\"f charStyle-81f42323 ps16283\" style=\"width:1.78pt\"> </span></div><div class=\"ps30866 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:57.21pt\">plans \u00e0 moyen </span><span class=\"f charStyle-165dec60 ps35086\" style=\"width:160.71pt\">terme pr\u00e9par\u00e9s par les entit\u00e9s du Groupe</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps30867 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">et approuv\u00e9s par la Direction G\u00e9n\u00e9rale. En situation</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps30869 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:102.78pt\">d\u2019imp\u00f4t diff\u00e9r\u00e9 actif net, </span><span class=\"f charStyle-42e3db84 ps35087\" style=\"width:115.15pt\">la reconnaissance des d\u00e9ficits</span><span class=\"f charStyle-42e3db84 ps16299\" style=\"width:1.82pt\"> </span></div><div class=\"ps30871 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:125.59pt\">fiscaux reportables comptabilis\u00e9s</span><span class=\"f charStyle-165dec60 ps35088\" style=\"width:92.37pt\"> reconnus au bilan est</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps17521 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">g\u00e9n\u00e9ralement limit\u00e9e \u00e0 une p\u00e9riode d\u2019un maximum de</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps17523 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:176.87pt\">cinq\u00a0ans. Les imp\u00f4ts \u00e0 payer et les cr\u00e9dits </span><span class=\"f charStyle-5064d44f ps29312\" style=\"width:41.04pt\">d\u2019imp\u00f4ts \u00e0</span><span class=\"f charStyle-5064d44f ps13258\" style=\"width:1.89pt\"> </span></div><div class=\"ps17524 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5064d44f ps448\" style=\"width:190.55pt\">recevoir sur les distributions de dividendes pr\u00e9vues</span><span class=\"f charStyle-165dec60 ps35089\" style=\"width:27.44pt\"> par les</span><span class=\"f charStyle-165dec60 ps16296\" style=\"width:1.96pt\"> </span></div><div class=\"ps35090 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">soci\u00e9t\u00e9s du Groupe sont enregistr\u00e9s au compte de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35092 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:30.33pt\">r\u00e9sultat.</span><span class=\"f charStyle-165dec60 ps35091\" style=\"width:1.96pt\"> </span></div><div class=\"ps17527 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.93pt\">Les actifs et passifs d\u2019imp\u00f4ts diff\u00e9r\u00e9s sont compens\u00e9s</span><span class=\"f charStyle-4afdd138 ps16299\" style=\"width:1.9pt\"> </span></div><div class=\"ps35094 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:28.56pt\">lorsqu\u2019il</span><span class=\"f charStyle-165dec60 ps35093\" style=\"width:189.41pt\"> existe un droit juridiquement ex\u00e9cutoire de</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps35095 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">compenser les actifs et passifs d\u2019imp\u00f4ts exigibles et que</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35097 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:71.77pt\">les actifs et passifs </span><span class=\"f charStyle-81f42323 ps35096\" style=\"width:146.22pt\">d\u2019imp\u00f4ts diff\u00e9r\u00e9s concernent des imp\u00f4ts</span><span class=\"f charStyle-81f42323 ps16296\" style=\"width:1.78pt\"> </span></div><div class=\"ps35099 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:85.79pt\">sur le r\u00e9sultat pr\u00e9lev\u00e9s</span><span class=\"f charStyle-165dec60 ps35098\" style=\"width:132.19pt\"> par la m\u00eame autorit\u00e9 fiscale. En</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps29361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.93pt\">France, Valeo a opt\u00e9 pour le r\u00e9gime de l\u2019int\u00e9gration</span><span class=\"f charStyle-165dec60 ps16299\" style=\"width:1.96pt\"> </span></div><div class=\"ps29362 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">fiscale. Le Groupe int\u00e9gr\u00e9 comprend la soci\u00e9t\u00e9 m\u00e8re et</span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> </span></div><div class=\"ps29364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">ses principales filiales fran\u00e7aises \u00e9ligibles \u00e0 ce r\u00e9gime. Le</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps35100 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">groupe Valeo a \u00e9galement opt\u00e9 pour des r\u00e9gimes<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35101 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.97pt\">d\u2019int\u00e9gration fiscale (ou assimil\u00e9s) pour ses filiales</span><span class=\"f charStyle-165dec60 ps16278\" style=\"width:1.96pt\"> </span></div><div class=\"ps18000 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.96pt\">implant\u00e9es dans des pays dont la l\u00e9gislation offre cette</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps18002 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:217.99pt\">possibilit\u00e9 (Allemagne, Espagne, Royaume-Uni et</span><span class=\"f charStyle-53279637 ps16296\" style=\"width:1.85pt\"> </span></div><div class=\"ps18003 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-53279637 ps448\" style=\"width:37.31pt\">\u00c9tats\u2011Unis</span><span class=\"f charStyle-165dec60 ps35102\" style=\"width:4.05pt\">).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-551": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i35e72c62b6b042d28cc2bb92a6abe4b3\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">11<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35167\"><span style=\"display:inline-block;height:13.55pt;width:33.8pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Capitaux </span><span class=\"f charStyle-26f8f9e5 ps35168\">propres et r\u00e9sultat par action</span></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">11.2<span id=\"ibe0ff94b0e8142db84458f108bf740e3\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps35055\"><span style=\"display:inline-block;height:10.16pt;width:25.36pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">R\u00e9sultat net par action<span class=\"f ps53\"> </span></span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:69.45pt\">Le r\u00e9sultat net de <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35310\" style=\"width:34.56pt\">l'exercice<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35311\" style=\"width:113.98pt\"> par action (avant dilution) est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.91pt\">calcul\u00e9 en faisant le rapport entre le r\u00e9sultat net et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:29.25pt\">nombre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps543\" style=\"width:10pt\"> m</span><span class=\"f charStyle-81f42323 ps4924\" style=\"width:178.7pt\">oyen pond\u00e9r\u00e9 d\u2019actions en circulation au cours de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:32.76pt\">l'exercice</span><span class=\"f charStyle-81f42323 ps26863\" style=\"width:1.41pt\">,</span><span class=\"f charStyle-165dec60 ps35312\" style=\"width:183.77pt\"> apr\u00e8s d\u00e9duction du nombre moyen d\u2019actions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:54.27pt\">autod\u00e9tenues.</span><span class=\"f charStyle-165dec60 ps35313\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:68.53pt\">Le r\u00e9sultat net de </span><span class=\"f charStyle-165dec60 ps35314\" style=\"width:34.56pt\">l'exercice</span><span class=\"f charStyle-165dec60 ps35315\" style=\"width:114.81pt\"> dilu\u00e9 par action est calcul\u00e9 en</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps9633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">faisant le rapport entre le r\u00e9sultat net et le nombre</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">moyen pond\u00e9r\u00e9 d\u2019actions ordinaires en circulation major\u00e9</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">du nombre moyen pond\u00e9r\u00e9 d\u2019actions ordinaires qui</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">auraient \u00e9t\u00e9 en circulation dans l\u2019hypoth\u00e8se d\u2019une</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">conversion de toutes les actions ordinaires potentielles<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.03pt\">dilutives.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:217.98pt\">Les options d\u2019achat et les actions gratuites ont un effet<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:21.52pt\">dilutif</span><span class=\"f charStyle-165dec60 ps35316\" style=\"width:196.38pt\"> d\u00e8s lors que leur prix d\u2019exercice est inf\u00e9rieur au prix</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">du march\u00e9. Cette m\u00e9thode dite du \u00ab\u00a0rachat d\u2019actions\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">permet de d\u00e9terminer les actions \u00ab\u00a0non rachet\u00e9es\u00a0\u00bb qui</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.18pt\">viennent </span><span class=\"f charStyle-81f42323 ps35317\" style=\"width:180.8pt\">s\u2019ajouter aux actions ordinaires en circulation et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.81pt\">qui constituent<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35318\" style=\"width:67.15pt\"> ainsi l\u2019effet dilutif.<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35319\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35326 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1866\"><div><div class=\"ps509 ss1864\" style=\"font-size:12pt\"><span class=\"f charStyle-044fe383 ps10\">R\u00e9sultat net de </span><span class=\"f charStyle-165dec60 ps28649\">l'exercice<span class=\"f ps53\"> </span></span><span class=\"f charStyle-044fe383 ps35320\"> attribuable aux actionnaires de la soci\u00e9t\u00e9 m\u00e8re </span></div><div class=\"ps30934 ss1864\"><span class=\"f charStyle-a8abcdde ps10\">(en\u00a0millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a ps27867\">200<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss675\"><div><div class=\"ps6851 ss670\"><span class=\"f charStyle-a696f64a ps28330\">162<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps14288 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Nombre moyen pond\u00e9r\u00e9 d'actions ordinaires en circulation </span><span class=\"f charStyle-a8abcdde ps35321\">(en milliers d'actions)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28120 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35322\">243\u00a0668<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28122 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35323\">242\u00a0977<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16552 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT NET PAR ACTION - PART DU GROUPE </span><span class=\"f charStyle-7b22cd64 ps35324\">(EN EUROS)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps28124 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps25998\">0,82<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps28126 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps35325\">0,67<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35333 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Nombre moyen pond\u00e9r\u00e9 d'actions ordinaires en circulation </span><span class=\"f charStyle-a8abcdde ps35321\">(en milliers d'actions)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35322\">243\u00a0668<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35323\">242\u00a0977<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Effet potentiel de dilution provenant des actions gratuites </span><span class=\"f charStyle-a8abcdde ps35327\">(en milliers)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps18380\">1\u00a0940<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps31641\">1\u00a0656<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2208\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">NOMBRE MOYEN POND\u00c9R\u00c9 D'ACTIONS ORDINAIRES AJUST\u00c9 DES ACTIONS </span></div><div class=\"ps18922 ss1864\"><span class=\"f charStyle-3f403986 ps10\">DILUTIVES <span class=\"f ps53\"> </span></span><span class=\"f charStyle-a8abcdde ps32372\">(en milliers d'actions)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-3f403986 ps35328\">245\u00a0608<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss1455\"><div><div class=\"ps523 ss670\"><span class=\"f charStyle-3f403986 ps35329\">244\u00a0634<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17210 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-96b05324 ps10\">R\u00c9SULTAT NET DILU\u00c9 PAR ACTION - PART DU GROUPE </span><span class=\"f charStyle-7b22cd64 ps35330\">(EN EUROS)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31811 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324 ps35331\">0,81<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps31812 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-96b05324 ps35332\">0,66<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-550": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i35e72c62b6b042d28cc2bb92a6abe4b3\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">11<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35167\"><span style=\"display:inline-block;height:13.55pt;width:33.8pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">Capitaux </span><span class=\"f charStyle-26f8f9e5 ps35168\">propres et r\u00e9sultat par action</span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">11.1<span id=\"i23e4148409bf42d9b11ddcbf123834d6\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps35169\"><span style=\"display:inline-block;height:10.16pt;width:27.44pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Capitaux propres<span class=\"f ps53\"> </span></span></div><div class=\"ps35171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">11.1.1<span id=\"i8dbd28f0b24041aa9e38091f0fa7ea66\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps35170\"><span style=\"display:inline-block;height:8.71pt;width:15.24pt\"></span></span><span class=\"ps29285\">\u00c9volution du capital</span></span></div><div class=\"ps35173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">11.1.1.1<span class=\"f ps53\"> </span><span id=\"i5dba19c4c9a04fe38856419d206634c3\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps35172\"><span style=\"display:inline-block;height:8.22pt;width:10.71pt\"></span></span><span class=\"ps29285\">\u00c9volution du nombre d\u2019actions en circulation</span></span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:155.56pt\">Le nombre d\u2019actions en circulation au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35174\" style=\"width:71.44pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35175\" style=\"width:254.19pt\"> et le nombre d\u2019actions auto-d\u00e9tenues se d\u00e9taillent de la fa\u00e7on<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante\u00a0:</span></div><div class=\"ps35189 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-3f403986 ps10\">NOMBRE D'ACTIONS EN CIRCULATION AU 1</span><span class=\"f charStyle-f4bb8995 ps35176\"><span class=\"f ps53\"> </span><sup>er</sup></span><span class=\"f charStyle-3f403986 ps35177\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35178\">242\u00a0976\u00a0320<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35179\">243\u00a0921\u00a0120<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1876\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Nombre d'actions propres rachet\u00e9es/vendues dans le cadre du contrat de </span></div><div class=\"ps748 ss1409\"><span class=\"f charStyle-044fe383 ps10\">liquidit\u00e9\u00a0</span><span class=\"f charStyle-4da12822 ps35180\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps31848\"> ou\u00a0livr\u00e9es suite \u00e0 exercice des actions gratuites attribu\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18382 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps28685\">1\u00a0591\u00a0435<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps33037\">1\u00a0230\u00a0883<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Nombre d'actions rachet\u00e9es dans le cadre du programme de rachat </span><span class=\"f charStyle-4da12822 ps35181\"><span class=\"f ps53\"> </span><sup>(2)</sup></span><span class=\"f charStyle-044fe383 ps35182\"> <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps17197\">(2\u00a0584\u00a0352)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35183\">(2\u00a0175\u00a0683)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-45bccaa5 ps10\">Nombre d'actions \u00e9mises dans le cadre des plans d'actionnariat salari\u00e9 : Shares4U </span><span class=\"f charStyle-67175b72 ps35184\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps25316\">974\u00a0120<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22743 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-3f403986 ps10\">NOMBRE D'ACTIONS EN CIRCULATION AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27487 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps28993\">242\u00a0957\u00a0523<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27490 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35178\">242\u00a0976\u00a0320<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Nombre d'actions auto-d\u00e9tenues par le Groupe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27494 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35185\">2\u00a0650\u00a0101<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27496 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35186\">1\u00a0657\u00a0184<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-3f403986 ps10\">NOMBRE D'ACTIONS COMPOSANT LE CAPITAL SOCIAL AU 31 D\u00c9CEMBRE </span><span class=\"f charStyle-f4bb8995 ps35187\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27499 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35188\">245\u00a0607\u00a0624<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27501 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps25500\">244\u00a0633\u00a0504<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35191 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:34.76pt\">Note 11.1.1.2</span><span class=\"f charStyle-776a1ec6 ps35190\" style=\"width:35.56pt\">, page 445.</span></div><div class=\"ps35193 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:34.73pt\">Note 11.1.1.3</span><span class=\"f charStyle-776a1ec6 ps35192\" style=\"width:35.56pt\">, page 445.</span></div><div class=\"ps35194 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.07pt\">Dans le cadre du plan Shares4U 2025, une augmentation de capital r\u00e9serv\u00e9e aux salari\u00e9s de 8 millions d\u2019euros est intervenue le 13 novembre</span><span class=\"f charStyle-776a1ec6 ps1714\" style=\"width:1.7pt\"> </span></div><div class=\"ps35196 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:17.89pt\">2025 </span><span class=\"f charStyle-b70a9be1 ps35195\" style=\"width:449.05pt\">par l\u2019\u00e9mission de 974 120 actions nouvelles de 1 euro de nominal. Ce plan a \u00e9t\u00e9 propos\u00e9 aux salari\u00e9s leur permettant de souscrire des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b70a9be1 ps3677\" style=\"width:1.67pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35197 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:467.11pt\">actions Valeo (par l\u2019interm\u00e9diaire d\u2019un Fonds Commun de Placement d\u2019Entreprise ou en actionnariat direct) \u00e0 un prix de souscription fix\u00e9, le 12</span><span class=\"f charStyle-b70a9be1 ps455\" style=\"width:1.67pt\"> </span></div><div class=\"ps35200 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:56.47pt\">septembre 2025, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps35198\" style=\"width:13.59pt\">par </span><span class=\"f charStyle-2360fb39 ps35199\" style=\"width:397.04pt\">le Directeur G\u00e9n\u00e9ral du Groupe sur d\u00e9l\u00e9gation du Conseil d\u2019administration, \u00e0 8,40 euros. Une prime d\u2019\u00e9mission de 7\u00a0millions</span><span class=\"f charStyle-2360fb39 ps471\" style=\"width:1.57pt\"> </span></div><div class=\"ps35201 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2360fb39 ps269\" style=\"width:88.19pt\">d\u2019euros a ainsi \u00e9t\u00e9 d\u00e9gag\u00e9e.</span></div><div class=\"ps35206 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:161.62pt\">La valeur nominale de l\u2019action s\u2019\u00e9l\u00e8ve \u00e0 1 euro au </span><span class=\"f charStyle-776a1ec6 ps35202\" style=\"width:58.45pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-776a1ec6 ps35203\" style=\"width:20.41pt\"> et au </span><span class=\"f charStyle-776a1ec6 ps35204\" style=\"width:59.07pt\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps35205\" style=\"width:128.35pt\">\u00a0; ces actions sont enti\u00e8rement lib\u00e9r\u00e9es.</span></div><div class=\"ps35208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">11.1.1.2<span id=\"i8860ac378d2c4c4daaaa9a300e23437e\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps35207\"><span style=\"display:inline-block;height:8.22pt;width:9.03pt\"></span></span><span class=\"ps29285\">Gestion des capitaux propres</span></span></div><div class=\"ps17893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe vise une base de capital solide, afin de pr\u00e9server la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">confiance des investisseurs, des cr\u00e9anciers et du march\u00e9 et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17932 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">afin de pouvoir assurer son d\u00e9veloppement futur. Son</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">objectif est de maintenir un \u00e9quilibre entre dettes et fonds</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17934 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:30.64pt\">propres.</span></div><div class=\"ps17935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 racheter ses propres actions</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">sur le march\u00e9 dans le but d\u2019assurer la couverture des plans</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps17937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">d\u2019actions gratuites et d\u2019actionnariat salari\u00e9 ainsi que la mise<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17938 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">en \u0153uvre du contrat de liquidit\u00e9. Ce contrat de liquidit\u00e9,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17941 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">conforme \u00e0 la charte de d\u00e9ontologie AFEI (Association</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17943 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">fran\u00e7aise des entreprises d\u2019investissement) a \u00e9t\u00e9 sign\u00e9 avec</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps17944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">un prestataire de services d\u2019investissement le 25 mars 2019.</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17945 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.96pt\">Au </span><span class=\"f charStyle-165dec60 ps35209\" style=\"width:72.64pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps4286\" style=\"width:141.69pt\">, les moyens affect\u00e9s \u00e0 la mise en</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35211 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:123.51pt\">\u0153uvre de ce contrat de liquidit\u00e9 </span><span class=\"f charStyle-81993cb5 ps35210\" style=\"width:105.72pt\">ressortent \u00e0 17 343 876 euros</span><span class=\"f charStyle-81993cb5 ps4098\" style=\"width:1.87pt\"> </span></div><div class=\"ps35213 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:135.62pt\">contre 17\u00a0321 056 euros de liquidit\u00e9 </span><span class=\"f charStyle-165dec60 ps35212\" style=\"width:93.64pt\">\u00e0 la cl\u00f4ture de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps35214 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div><div class=\"ps35208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">11.1.1.3<span id=\"iaa1111aff1c242f5a178ad7cf4210ad3\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps35215\"><span style=\"display:inline-block;height:8.22pt;width:9.01pt\"></span></span><span class=\"ps17462\">Programme de rachat d\u2019actions</span></span></div><div class=\"ps17893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:229.33pt\">La soci\u00e9t\u00e9 Valeo a sollicit\u00e9 l\u2019assistance d\u2019un prestataire de</span><span class=\"f charStyle-42e3db84 ps450\" style=\"width:1.82pt\"> </span></div><div class=\"ps17931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:30.52pt\">services </span><span class=\"f charStyle-367d076b ps35216\" style=\"width:198.77pt\">d\u2019investissements pour les besoins de la r\u00e9alisation de</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17932 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.29pt\">certains objectifs de son programme de rachat d\u2019actions au</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.27pt\">titre de l\u2019ann\u00e9e 2025, tel qu\u2019autoris\u00e9 par l\u2019Assembl\u00e9e g\u00e9n\u00e9rale</span><span class=\"f charStyle-367d076b ps455\" style=\"width:1.88pt\"> </span></div><div class=\"ps17934 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:171.91pt\">mixte des actionnaires en date du 22 mai 2025.</span></div><div class=\"ps17935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:229.27pt\">Selon les termes du contrat conclu le 17 juin 2025, il a \u00e9t\u00e9</span><span class=\"f charStyle-cea761f8 ps455\" style=\"width:1.78pt\"> </span></div><div class=\"ps17936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:36.82pt\">convenu </span><span class=\"f charStyle-367d076b ps35217\" style=\"width:192.46pt\">entre les parties que le prestataire de services</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps17937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:71.73pt\">d\u2019investissements </span><span class=\"f charStyle-165dec60 ps35218\" style=\"width:157.57pt\">vendrait \u00e0 Valeo qui s\u2019obligeait \u00e0 les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps17938 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:108.85pt\">acqu\u00e9rir, \u00e0 l\u2019\u00e9ch\u00e9ance, une </span><span class=\"f charStyle-6bf77ae8 ps35219\" style=\"width:120.46pt\">certaine quantit\u00e9 d\u2019actions Valeo,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-6bf77ae8 ps460\" style=\"width:1.66pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17941 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6bf77ae8 ps448\" style=\"width:146.14pt\">dans la limite de 25 millions d\u2019euros,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps35220\" style=\"width:83.18pt\"> \u00e0 un cours moyen</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17943 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.32pt\">d\u00e9termin\u00e9 de mani\u00e8re objective et ind\u00e9pendante par le</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.28pt\">march\u00e9 pendant toute la dur\u00e9e du contrat. Ce cours moyen</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps17945 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:5.07pt\">n</span><span class=\"f charStyle-9c680f66 ps35221\" style=\"width:224.21pt\">e pouvait en toute hypoth\u00e8se exc\u00e9der le prix maximum</span><span class=\"f charStyle-9c680f66 ps458\" style=\"width:1.93pt\"> </span></div><div class=\"ps35211 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:24.62pt\">d\u2019acha<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35222\" style=\"width:204.7pt\">t tel qu\u2019arr\u00eat\u00e9 par l\u2019Assembl\u00e9e g\u00e9n\u00e9rale mixte des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps35213 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:136.87pt\">actionnaires en date du 22 mai 2025.</span></div><div class=\"ps15119 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.28pt\">Ce programme a permis le rachat de 2 584 352 actions, qui</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps15120 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.32pt\">sont int\u00e9gralement affect\u00e9es aux fins de couvrir la mise en</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.33pt\">\u0153uvre de tout plan d\u2019attribution d\u2019actions gratuites aux</span><span class=\"f charStyle-367d076b ps450\" style=\"width:1.88pt\"> </span></div><div class=\"ps17950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.31pt\">salari\u00e9s au titre de\u00a0leur participation aux fruits de l\u2019expansion</span><span class=\"f charStyle-367d076b ps460\" style=\"width:1.88pt\"> </span></div><div class=\"ps17952 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.29pt\">de l\u2019entreprise et de la mise en \u0153uvre de tout plan d\u2019\u00e9pargne</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:39.16pt\">entreprise.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps275\" style=\"width:371.43pt\">Les principales caract\u00e9ristiques du programme de rachat d'actions r\u00e9alis\u00e9 en 2025 sont les suivantes :<span class=\"f ps53\"> </span></span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:399.75pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps14533\">Programme 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-a696f64a ps10\">Date de prise d'effet de la convention<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35224\">17 juin 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-a696f64a ps10\">Date d'\u00e9ch\u00e9ance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13834\">24 septembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Nominal maximal \u00e0 acqu\u00e9rir </span><span class=\"f charStyle-a8abcdde ps35225\">(en millions d'euros)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.67pt\"></span></span><span class=\"ps35226\">25<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Actions propres livr\u00e9es </span><span class=\"f charStyle-a8abcdde ps35227\">(en nombre d'actions)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.31pt\"></span></span><span class=\"ps35228\">2\u00a0584\u00a0352<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Cours moyen </span><span class=\"f charStyle-a8abcdde ps35229\">(en euros par action)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10376 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.04pt\"></span></span><span class=\"ps35230\">9,67<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35232 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">11.1.2<span id=\"i7558bc1de2ed40f19b02af18ff856e46\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps35231\"><span style=\"display:inline-block;height:8.71pt;width:13.45pt\"></span></span><span class=\"ps29285\">\u00c9carts de conversion</span></span></div><div class=\"ps21258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:279.06pt\">La variation des \u00e9carts de conversion (part du Groupe) sur l\u2019exercice est </span><span class=\"f charStyle-165dec60 ps35233\" style=\"width:67.2pt\">une perte latente</span><span class=\"f charStyle-165dec60 ps35234\" style=\"width:15.35pt\"> de </span><span class=\"f charStyle-165dec60 ps35235\" style=\"width:13.97pt\">584</span><span class=\"f charStyle-165dec60 ps35236\" style=\"width:105.63pt\"> millions d\u2019euros (contre un</span><span class=\"f charStyle-165dec60 ps1722\" style=\"width:1.96pt\"> </span></div><div class=\"ps12036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43.67pt\">gain latent</span><span class=\"f charStyle-165dec60 ps11813\" style=\"width:19.47pt\"> de </span><span class=\"f charStyle-367d076b ps35237\" style=\"width:10.12pt\">101</span><span class=\"f charStyle-367d076b ps11680\" style=\"width:84.52pt\">\u00a0millions d\u2019euros au </span><span class=\"f charStyle-367d076b ps35238\" style=\"width:72.83pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-367d076b ps35239\" style=\"width:250.59pt\">). Cette perte refl\u00e8te principalement l'incidence d\u00e9favorable de</span><span class=\"f charStyle-367d076b ps1231\" style=\"width:1.88pt\"> </span></div><div class=\"ps12037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps275\" style=\"width:193.55pt\">l\u2019appr\u00e9ciation de l\u2019euro vis-\u00e0-vis du dollar am\u00e9ricain</span><span class=\"f charStyle-81993cb5 ps35240\" style=\"width:287.7pt\"> pour 228 millions d'euros, du renminbi chinois pour 179 millions d'euros, du</span><span class=\"f charStyle-81993cb5 ps719\" style=\"width:1.87pt\"> </span></div><div class=\"ps12039 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:61.01pt\">won sud-cor\u00e9en</span><span class=\"f charStyle-81993cb5 ps35241\" style=\"width:91.27pt\"> pour 76 millions d\u2019euros </span><span class=\"f charStyle-165dec60 ps35242\" style=\"width:72.19pt\">, et du yen japonais</span><span class=\"f charStyle-81993cb5 ps35243\" style=\"width:92.92pt\"> pour 69 millions d\u2019euros .</span></div><div class=\"ps35245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">11.1.3<span id=\"i7f0b1e867a4343369853de82630a68c8\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps35244\"><span style=\"display:inline-block;height:8.71pt;width:13.44pt\"></span></span><span class=\"ps29285\">Participations ne donnant pas le contr\u00f4le</span></span></div><div class=\"ps35247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:298.88pt\">L\u2019\u00e9volution des participations ne donnant pas le contr\u00f4le s\u2019analyse comme suit\u00a0:</span><span class=\"f charStyle-165dec60 ps35246\" style=\"width:1.96pt\"> </span></div><div class=\"ps35264 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE AU 1</span><span class=\"f charStyle-f4bb8995 ps35248\"><sup>er</sup></span><span class=\"f charStyle-3f403986 ps35249\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps34597\">796<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35250\">785<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Quote-part de r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28334\">55<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28336\">72<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dividendes vers\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28204\">(40)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35251\">(42)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2202\"><div><div class=\"ps35252 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Ajustements de juste valeur des options de ventes accord\u00e9es aux d\u00e9tenteurs </span></div><div class=\"ps35254 ss1864\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0participations ne donnant pas le contr\u00f4le </span><span class=\"f charStyle-4da12822 ps35253\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss2203\"><div><div class=\"ps145 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss2203\"><div><div class=\"ps145 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps571 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres mouvements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35255 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35034\">4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35257 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35256\">(11)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35259 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35258\">(65)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35261 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35260\">(12)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8556 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35262 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps30693\">750<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35263 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps34597\">796<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:35.38pt\">Note 9.1.2.2</span><span class=\"f charStyle-776a1ec6 ps35265\" style=\"width:33.6pt\">, page 431.</span></div><div class=\"ps21170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:384.56pt\">Les participations ne donnant pas le contr\u00f4le se d\u00e9composent principalement de la mani\u00e8re suivante\u00a0:</span></div><div class=\"ps35308 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td></tr><tr style=\"height:41.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps35272 ss2204\"><div><div class=\"ps27459 ss1066\"><span class=\"f charStyle-98f46611 ps35267\">Pourcentage d'int\u00e9r\u00eats </span></div><div class=\"ps35268 ss1066\"><span class=\"f charStyle-98f46611 ps11499\">d\u00e9tenus\u00a0par\u00a0les\u00a0participations </span></div><div class=\"ps35269 ss1066\"><span class=\"f charStyle-98f46611 ps14715\">ne\u00a0donnant\u00a0pas\u00a0le contr\u00f4le<span class=\"f ps53\"> </span></span></div><div class=\"ps35271 ss1066\"><span class=\"f charStyle-a8abcdde ps35270\">(en %)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10276 ss2204\"><div><div class=\"ps27459 ss1066\"><span class=\"f charStyle-98f46611 ps35273\">Capitaux propres - Part </span></div><div class=\"ps35268 ss1066\"><span class=\"f charStyle-98f46611 ps35274\">des\u00a0participations ne donnant <span class=\"f ps53\"> </span></span></div><div class=\"ps35269 ss1066\"><span class=\"f charStyle-98f46611 ps35275\">pas\u00a0le\u00a0contr\u00f4le<span class=\"f ps53\"> </span></span></div><div class=\"ps35271 ss1066\"><span class=\"f charStyle-a8abcdde ps11197\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35278 ss1796\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-6bef0edd ps35276\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss875\"><span class=\"f charStyle-6bef0edd ps35277\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35279 ss1796\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-ae6044e9 ps35276\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss875\"><span class=\"f charStyle-ae6044e9 ps28563\">2024</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35280 ss1796\"><div><div class=\"ps523 ss875\"><span class=\"f charStyle-6bef0edd ps35277\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35281 ss1796\"><div><div class=\"ps523 ss875\"><span class=\"f charStyle-ae6044e9 ps28563\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4545 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-044fe383 ps10\">Pyeong Hwa Company\u00a0</span><span class=\"f charStyle-4da12822 ps35282\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35283 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31970\"></span><span class=\"ps31970\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35284 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31970\"></span><span class=\"ps31970\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35286 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps35285\">537<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35287 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps30546\">571<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8277 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-a696f64a ps10\">Entit\u00e9s de l'Alliance Chine Ichikoh<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35289 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35288\"></span><span class=\"ps35288\">5,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35290 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35288\"></span><span class=\"ps35288\">5,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35291 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps27477\">28<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35293 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps35292\">43<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-a696f64a ps10\">Autres entit\u00e9s Ichikoh <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35294 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps5490\"></span><span class=\"ps5490\">38,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35295 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps5490\"></span><span class=\"ps5490\">38,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35296 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps30546\">157<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35297 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps27613\">150<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2207\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-044fe383 ps10\">Autres participations individuellement </span></div><div class=\"ps748 ss2205\"><span class=\"f charStyle-044fe383 ps10\">non\u00a0significatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35299 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35298\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35300 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35298\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35301 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps27477\">28<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35303 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35302\">32<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22751 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-f573b8b5 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35305 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35304\">750<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35307 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35306\">796<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span>Pyeong Hwa Company est le partenaire historique dans les entit\u00e9s Valeo Pyeong Hwa et Valeo-Kapec notamment en Cor\u00e9e.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-552": {
   "value": "<div class=\"ps35171 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">11.1.1<span id=\"i8dbd28f0b24041aa9e38091f0fa7ea66\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps35170\"><span style=\"display:inline-block;height:8.71pt;width:15.24pt\"></span></span><span class=\"ps29285\">\u00c9volution du capital</span></span></div><div class=\"ps35173 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">11.1.1.1<span class=\"f ps53\"> </span><span id=\"i5dba19c4c9a04fe38856419d206634c3\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps35172\"><span style=\"display:inline-block;height:8.22pt;width:10.71pt\"></span></span><span class=\"ps29285\">\u00c9volution du nombre d\u2019actions en circulation</span></span></div><div class=\"ps2797 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:155.56pt\">Le nombre d\u2019actions en circulation au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35174\" style=\"width:71.44pt\">31\u00a0d\u00e9cembre 2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35175\" style=\"width:254.19pt\"> et le nombre d\u2019actions auto-d\u00e9tenues se d\u00e9taillent de la fa\u00e7on<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps1121\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps2800 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:35.38pt\">suivante\u00a0:</span></div><div class=\"ps35189 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-3f403986 ps10\">NOMBRE D'ACTIONS EN CIRCULATION AU 1</span><span class=\"f charStyle-f4bb8995 ps35176\"><span class=\"f ps53\"> </span><sup>er</sup></span><span class=\"f charStyle-3f403986 ps35177\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35178\">242\u00a0976\u00a0320<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35179\">243\u00a0921\u00a0120<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1876\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Nombre d'actions propres rachet\u00e9es/vendues dans le cadre du contrat de </span></div><div class=\"ps748 ss1409\"><span class=\"f charStyle-044fe383 ps10\">liquidit\u00e9\u00a0</span><span class=\"f charStyle-4da12822 ps35180\"><sup>(1)</sup></span><span class=\"f charStyle-044fe383 ps31848\"> ou\u00a0livr\u00e9es suite \u00e0 exercice des actions gratuites attribu\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18382 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps28685\">1\u00a0591\u00a0435<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss675\"><div><div class=\"ps516 ss670\"><span class=\"f charStyle-a696f64a ps33037\">1\u00a0230\u00a0883<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16552 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-044fe383 ps10\">Nombre d'actions rachet\u00e9es dans le cadre du programme de rachat </span><span class=\"f charStyle-4da12822 ps35181\"><span class=\"f ps53\"> </span><sup>(2)</sup></span><span class=\"f charStyle-044fe383 ps35182\"> <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27476 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps17197\">(2\u00a0584\u00a0352)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27478 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35183\">(2\u00a0175\u00a0683)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-45bccaa5 ps10\">Nombre d'actions \u00e9mises dans le cadre des plans d'actionnariat salari\u00e9 : Shares4U </span><span class=\"f charStyle-67175b72 ps35184\"><span class=\"f ps53\"> </span><sup>(3)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27482 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps25316\">974\u00a0120<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27484 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22743 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-3f403986 ps10\">NOMBRE D'ACTIONS EN CIRCULATION AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27487 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps28993\">242\u00a0957\u00a0523<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27490 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35178\">242\u00a0976\u00a0320<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16440 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Nombre d'actions auto-d\u00e9tenues par le Groupe<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27494 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35185\">2\u00a0650\u00a0101<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27496 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35186\">1\u00a0657\u00a0184<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10020 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-3f403986 ps10\">NOMBRE D'ACTIONS COMPOSANT LE CAPITAL SOCIAL AU 31 D\u00c9CEMBRE </span><span class=\"f charStyle-f4bb8995 ps35187\"><span class=\"f ps53\"> </span><sup>(4)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27499 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35188\">245\u00a0607\u00a0624<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27501 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps25500\">244\u00a0633\u00a0504<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35191 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. <span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:34.76pt\">Note 11.1.1.2</span><span class=\"f charStyle-776a1ec6 ps35190\" style=\"width:35.56pt\">, page 445.</span></div><div class=\"ps35193 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.95pt\">(2)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:34.73pt\">Note 11.1.1.3</span><span class=\"f charStyle-776a1ec6 ps35192\" style=\"width:35.56pt\">, page 445.</span></div><div class=\"ps35194 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:7.92pt\">(3)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.07pt\">Dans le cadre du plan Shares4U 2025, une augmentation de capital r\u00e9serv\u00e9e aux salari\u00e9s de 8 millions d\u2019euros est intervenue le 13 novembre</span><span class=\"f charStyle-776a1ec6 ps1714\" style=\"width:1.7pt\"> </span></div><div class=\"ps35196 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:17.89pt\">2025 </span><span class=\"f charStyle-b70a9be1 ps35195\" style=\"width:449.05pt\">par l\u2019\u00e9mission de 974 120 actions nouvelles de 1 euro de nominal. Ce plan a \u00e9t\u00e9 propos\u00e9 aux salari\u00e9s leur permettant de souscrire des<span class=\"f ps53\"> </span></span><span class=\"f charStyle-b70a9be1 ps3677\" style=\"width:1.67pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35197 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:467.11pt\">actions Valeo (par l\u2019interm\u00e9diaire d\u2019un Fonds Commun de Placement d\u2019Entreprise ou en actionnariat direct) \u00e0 un prix de souscription fix\u00e9, le 12</span><span class=\"f charStyle-b70a9be1 ps455\" style=\"width:1.67pt\"> </span></div><div class=\"ps35200 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-b70a9be1 ps269\" style=\"width:56.47pt\">septembre 2025, <span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps35198\" style=\"width:13.59pt\">par </span><span class=\"f charStyle-2360fb39 ps35199\" style=\"width:397.04pt\">le Directeur G\u00e9n\u00e9ral du Groupe sur d\u00e9l\u00e9gation du Conseil d\u2019administration, \u00e0 8,40 euros. Une prime d\u2019\u00e9mission de 7\u00a0millions</span><span class=\"f charStyle-2360fb39 ps471\" style=\"width:1.57pt\"> </span></div><div class=\"ps35201 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2360fb39 ps269\" style=\"width:88.19pt\">d\u2019euros a ainsi \u00e9t\u00e9 d\u00e9gag\u00e9e.</span></div><div class=\"ps35206 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:8.55pt\">(4)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:161.62pt\">La valeur nominale de l\u2019action s\u2019\u00e9l\u00e8ve \u00e0 1 euro au </span><span class=\"f charStyle-776a1ec6 ps35202\" style=\"width:58.45pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-776a1ec6 ps35203\" style=\"width:20.41pt\"> et au </span><span class=\"f charStyle-776a1ec6 ps35204\" style=\"width:59.07pt\">31\u00a0d\u00e9cembre 2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps35205\" style=\"width:128.35pt\">\u00a0; ces actions sont enti\u00e8rement lib\u00e9r\u00e9es.</span></div><div class=\"ps35208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">11.1.1.2<span id=\"i8860ac378d2c4c4daaaa9a300e23437e\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps35207\"><span style=\"display:inline-block;height:8.22pt;width:9.03pt\"></span></span><span class=\"ps29285\">Gestion des capitaux propres</span></span></div><div class=\"ps17893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe vise une base de capital solide, afin de pr\u00e9server la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">confiance des investisseurs, des cr\u00e9anciers et du march\u00e9 et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17932 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">afin de pouvoir assurer son d\u00e9veloppement futur. Son</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">objectif est de maintenir un \u00e9quilibre entre dettes et fonds</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17934 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:30.64pt\">propres.</span></div><div class=\"ps17935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 racheter ses propres actions</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">sur le march\u00e9 dans le but d\u2019assurer la couverture des plans</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps17937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">d\u2019actions gratuites et d\u2019actionnariat salari\u00e9 ainsi que la mise<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17938 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">en \u0153uvre du contrat de liquidit\u00e9. Ce contrat de liquidit\u00e9,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17941 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">conforme \u00e0 la charte de d\u00e9ontologie AFEI (Association</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17943 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">fran\u00e7aise des entreprises d\u2019investissement) a \u00e9t\u00e9 sign\u00e9 avec</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps17944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">un prestataire de services d\u2019investissement le 25 mars 2019.</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17945 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.96pt\">Au </span><span class=\"f charStyle-165dec60 ps35209\" style=\"width:72.64pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps4286\" style=\"width:141.69pt\">, les moyens affect\u00e9s \u00e0 la mise en</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35211 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:123.51pt\">\u0153uvre de ce contrat de liquidit\u00e9 </span><span class=\"f charStyle-81993cb5 ps35210\" style=\"width:105.72pt\">ressortent \u00e0 17 343 876 euros</span><span class=\"f charStyle-81993cb5 ps4098\" style=\"width:1.87pt\"> </span></div><div class=\"ps35213 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:135.62pt\">contre 17\u00a0321 056 euros de liquidit\u00e9 </span><span class=\"f charStyle-165dec60 ps35212\" style=\"width:93.64pt\">\u00e0 la cl\u00f4ture de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps35214 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div><div class=\"ps35208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">11.1.1.3<span id=\"iaa1111aff1c242f5a178ad7cf4210ad3\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps35215\"><span style=\"display:inline-block;height:8.22pt;width:9.01pt\"></span></span><span class=\"ps17462\">Programme de rachat d\u2019actions</span></span></div><div class=\"ps17893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:229.33pt\">La soci\u00e9t\u00e9 Valeo a sollicit\u00e9 l\u2019assistance d\u2019un prestataire de</span><span class=\"f charStyle-42e3db84 ps450\" style=\"width:1.82pt\"> </span></div><div class=\"ps17931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:30.52pt\">services </span><span class=\"f charStyle-367d076b ps35216\" style=\"width:198.77pt\">d\u2019investissements pour les besoins de la r\u00e9alisation de</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17932 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.29pt\">certains objectifs de son programme de rachat d\u2019actions au</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.27pt\">titre de l\u2019ann\u00e9e 2025, tel qu\u2019autoris\u00e9 par l\u2019Assembl\u00e9e g\u00e9n\u00e9rale</span><span class=\"f charStyle-367d076b ps455\" style=\"width:1.88pt\"> </span></div><div class=\"ps17934 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:171.91pt\">mixte des actionnaires en date du 22 mai 2025.</span></div><div class=\"ps17935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:229.27pt\">Selon les termes du contrat conclu le 17 juin 2025, il a \u00e9t\u00e9</span><span class=\"f charStyle-cea761f8 ps455\" style=\"width:1.78pt\"> </span></div><div class=\"ps17936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:36.82pt\">convenu </span><span class=\"f charStyle-367d076b ps35217\" style=\"width:192.46pt\">entre les parties que le prestataire de services</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps17937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:71.73pt\">d\u2019investissements </span><span class=\"f charStyle-165dec60 ps35218\" style=\"width:157.57pt\">vendrait \u00e0 Valeo qui s\u2019obligeait \u00e0 les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps17938 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:108.85pt\">acqu\u00e9rir, \u00e0 l\u2019\u00e9ch\u00e9ance, une </span><span class=\"f charStyle-6bf77ae8 ps35219\" style=\"width:120.46pt\">certaine quantit\u00e9 d\u2019actions Valeo,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-6bf77ae8 ps460\" style=\"width:1.66pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17941 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6bf77ae8 ps448\" style=\"width:146.14pt\">dans la limite de 25 millions d\u2019euros,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps35220\" style=\"width:83.18pt\"> \u00e0 un cours moyen</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17943 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.32pt\">d\u00e9termin\u00e9 de mani\u00e8re objective et ind\u00e9pendante par le</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.28pt\">march\u00e9 pendant toute la dur\u00e9e du contrat. Ce cours moyen</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps17945 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:5.07pt\">n</span><span class=\"f charStyle-9c680f66 ps35221\" style=\"width:224.21pt\">e pouvait en toute hypoth\u00e8se exc\u00e9der le prix maximum</span><span class=\"f charStyle-9c680f66 ps458\" style=\"width:1.93pt\"> </span></div><div class=\"ps35211 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:24.62pt\">d\u2019acha<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35222\" style=\"width:204.7pt\">t tel qu\u2019arr\u00eat\u00e9 par l\u2019Assembl\u00e9e g\u00e9n\u00e9rale mixte des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps35213 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:136.87pt\">actionnaires en date du 22 mai 2025.</span></div><div class=\"ps15119 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.28pt\">Ce programme a permis le rachat de 2 584 352 actions, qui</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps15120 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.32pt\">sont int\u00e9gralement affect\u00e9es aux fins de couvrir la mise en</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.33pt\">\u0153uvre de tout plan d\u2019attribution d\u2019actions gratuites aux</span><span class=\"f charStyle-367d076b ps450\" style=\"width:1.88pt\"> </span></div><div class=\"ps17950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.31pt\">salari\u00e9s au titre de\u00a0leur participation aux fruits de l\u2019expansion</span><span class=\"f charStyle-367d076b ps460\" style=\"width:1.88pt\"> </span></div><div class=\"ps17952 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.29pt\">de l\u2019entreprise et de la mise en \u0153uvre de tout plan d\u2019\u00e9pargne</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:39.16pt\">entreprise.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps275\" style=\"width:371.43pt\">Les principales caract\u00e9ristiques du programme de rachat d'actions r\u00e9alis\u00e9 en 2025 sont les suivantes :<span class=\"f ps53\"> </span></span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:399.75pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps14533\">Programme 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-a696f64a ps10\">Date de prise d'effet de la convention<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35224\">17 juin 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-a696f64a ps10\">Date d'\u00e9ch\u00e9ance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13834\">24 septembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Nominal maximal \u00e0 acqu\u00e9rir </span><span class=\"f charStyle-a8abcdde ps35225\">(en millions d'euros)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.67pt\"></span></span><span class=\"ps35226\">25<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Actions propres livr\u00e9es </span><span class=\"f charStyle-a8abcdde ps35227\">(en nombre d'actions)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.31pt\"></span></span><span class=\"ps35228\">2\u00a0584\u00a0352<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Cours moyen </span><span class=\"f charStyle-a8abcdde ps35229\">(en euros par action)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10376 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.04pt\"></span></span><span class=\"ps35230\">9,67<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-553": {
   "value": "1591435.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "xbrli:shares"
   }
  },
  "f-554": {
   "value": "1230883.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfSharebasedPaymentsMember",
    "unit": "xbrli:shares"
   }
  },
  "f-555": {
   "value": "-2584352.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "xbrli:shares"
   }
  },
  "f-556": {
   "value": "-2175683.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:TreasurySharesMember",
    "unit": "xbrli:shares"
   }
  },
  "f-557": {
   "value": "0.0",
   "decimals": 0,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInNumberOfSharesOutstanding",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
    "unit": "xbrli:shares"
   }
  },
  "f-558": {
   "value": "<div class=\"ps35208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps275\">11.1.1.2<span id=\"i8860ac378d2c4c4daaaa9a300e23437e\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps35207\"><span style=\"display:inline-block;height:8.22pt;width:9.03pt\"></span></span><span class=\"ps29285\">Gestion des capitaux propres</span></span></div><div class=\"ps17893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">Le Groupe vise une base de capital solide, afin de pr\u00e9server la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">confiance des investisseurs, des cr\u00e9anciers et du march\u00e9 et</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17932 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.31pt\">afin de pouvoir assurer son d\u00e9veloppement futur. Son</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps17933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">objectif est de maintenir un \u00e9quilibre entre dettes et fonds</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17934 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:30.64pt\">propres.</span></div><div class=\"ps17935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">Le Groupe peut \u00eatre amen\u00e9 \u00e0 racheter ses propres actions</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">sur le march\u00e9 dans le but d\u2019assurer la couverture des plans</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps17937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.29pt\">d\u2019actions gratuites et d\u2019actionnariat salari\u00e9 ainsi que la mise<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17938 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.28pt\">en \u0153uvre du contrat de liquidit\u00e9. Ce contrat de liquidit\u00e9,</span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> </span></div><div class=\"ps17941 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.27pt\">conforme \u00e0 la charte de d\u00e9ontologie AFEI (Association</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps17943 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">fran\u00e7aise des entreprises d\u2019investissement) a \u00e9t\u00e9 sign\u00e9 avec</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps17944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">un prestataire de services d\u2019investissement le 25 mars 2019.</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps17945 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:14.96pt\">Au </span><span class=\"f charStyle-165dec60 ps35209\" style=\"width:72.64pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps4286\" style=\"width:141.69pt\">, les moyens affect\u00e9s \u00e0 la mise en</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35211 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:123.51pt\">\u0153uvre de ce contrat de liquidit\u00e9 </span><span class=\"f charStyle-81993cb5 ps35210\" style=\"width:105.72pt\">ressortent \u00e0 17 343 876 euros</span><span class=\"f charStyle-81993cb5 ps4098\" style=\"width:1.87pt\"> </span></div><div class=\"ps35213 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81993cb5 ps275\" style=\"width:135.62pt\">contre 17\u00a0321 056 euros de liquidit\u00e9 </span><span class=\"f charStyle-165dec60 ps35212\" style=\"width:93.64pt\">\u00e0 la cl\u00f4ture de l\u2019exercice</span><span class=\"f charStyle-165dec60 ps410\" style=\"width:1.96pt\"> </span></div><div class=\"ps35214 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:40.67pt\">pr\u00e9c\u00e9dent.</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-559": {
   "value": "<div class=\"ps35208 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-9417a400 ps448\">11.1.1.3<span id=\"iaa1111aff1c242f5a178ad7cf4210ad3\"></span></span><span class=\"f charStyle-9417a400\"><span class=\"ps35215\"><span style=\"display:inline-block;height:8.22pt;width:9.01pt\"></span></span><span class=\"ps17462\">Programme de rachat d\u2019actions</span></span></div><div class=\"ps17893 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:229.33pt\">La soci\u00e9t\u00e9 Valeo a sollicit\u00e9 l\u2019assistance d\u2019un prestataire de</span><span class=\"f charStyle-42e3db84 ps450\" style=\"width:1.82pt\"> </span></div><div class=\"ps17931 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-42e3db84 ps448\" style=\"width:30.52pt\">services </span><span class=\"f charStyle-367d076b ps35216\" style=\"width:198.77pt\">d\u2019investissements pour les besoins de la r\u00e9alisation de</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17932 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.29pt\">certains objectifs de son programme de rachat d\u2019actions au</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17933 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.27pt\">titre de l\u2019ann\u00e9e 2025, tel qu\u2019autoris\u00e9 par l\u2019Assembl\u00e9e g\u00e9n\u00e9rale</span><span class=\"f charStyle-367d076b ps455\" style=\"width:1.88pt\"> </span></div><div class=\"ps17934 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:171.91pt\">mixte des actionnaires en date du 22 mai 2025.</span></div><div class=\"ps17935 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:229.27pt\">Selon les termes du contrat conclu le 17 juin 2025, il a \u00e9t\u00e9</span><span class=\"f charStyle-cea761f8 ps455\" style=\"width:1.78pt\"> </span></div><div class=\"ps17936 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-cea761f8 ps448\" style=\"width:36.82pt\">convenu </span><span class=\"f charStyle-367d076b ps35217\" style=\"width:192.46pt\">entre les parties que le prestataire de services</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps17937 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:71.73pt\">d\u2019investissements </span><span class=\"f charStyle-165dec60 ps35218\" style=\"width:157.57pt\">vendrait \u00e0 Valeo qui s\u2019obligeait \u00e0 les</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps17938 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:108.85pt\">acqu\u00e9rir, \u00e0 l\u2019\u00e9ch\u00e9ance, une </span><span class=\"f charStyle-6bf77ae8 ps35219\" style=\"width:120.46pt\">certaine quantit\u00e9 d\u2019actions Valeo,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-6bf77ae8 ps460\" style=\"width:1.66pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps17941 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6bf77ae8 ps448\" style=\"width:146.14pt\">dans la limite de 25 millions d\u2019euros,<span class=\"f ps53\"> </span></span><span class=\"f charStyle-367d076b ps35220\" style=\"width:83.18pt\"> \u00e0 un cours moyen</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17943 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.32pt\">d\u00e9termin\u00e9 de mani\u00e8re objective et ind\u00e9pendante par le</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17944 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.28pt\">march\u00e9 pendant toute la dur\u00e9e du contrat. Ce cours moyen</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps17945 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:5.07pt\">n</span><span class=\"f charStyle-9c680f66 ps35221\" style=\"width:224.21pt\">e pouvait en toute hypoth\u00e8se exc\u00e9der le prix maximum</span><span class=\"f charStyle-9c680f66 ps458\" style=\"width:1.93pt\"> </span></div><div class=\"ps35211 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:24.62pt\">d\u2019acha<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35222\" style=\"width:204.7pt\">t tel qu\u2019arr\u00eat\u00e9 par l\u2019Assembl\u00e9e g\u00e9n\u00e9rale mixte des</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps35213 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:136.87pt\">actionnaires en date du 22 mai 2025.</span></div><div class=\"ps15119 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.28pt\">Ce programme a permis le rachat de 2 584 352 actions, qui</span><span class=\"f charStyle-367d076b ps458\" style=\"width:1.88pt\"> </span></div><div class=\"ps15120 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.32pt\">sont int\u00e9gralement affect\u00e9es aux fins de couvrir la mise en</span><span class=\"f charStyle-367d076b ps639\" style=\"width:1.88pt\"> </span></div><div class=\"ps17948 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.33pt\">\u0153uvre de tout plan d\u2019attribution d\u2019actions gratuites aux</span><span class=\"f charStyle-367d076b ps450\" style=\"width:1.88pt\"> </span></div><div class=\"ps17950 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.31pt\">salari\u00e9s au titre de\u00a0leur participation aux fruits de l\u2019expansion</span><span class=\"f charStyle-367d076b ps460\" style=\"width:1.88pt\"> </span></div><div class=\"ps17952 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:229.29pt\">de l\u2019entreprise et de la mise en \u0153uvre de tout plan d\u2019\u00e9pargne</span><span class=\"f charStyle-367d076b ps467\" style=\"width:1.88pt\"> </span></div><div class=\"ps17953 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps448\" style=\"width:39.16pt\">entreprise.</span></div><div class=\"ps0 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps275\" style=\"width:371.43pt\">Les principales caract\u00e9ristiques du programme de rachat d'actions r\u00e9alis\u00e9 en 2025 sont les suivantes :<span class=\"f ps53\"> </span></span></div><div class=\"ps13864 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:399.75pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps14533\">Programme 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-a696f64a ps10\">Date de prise d'effet de la convention<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps35224\">17 juin 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-a696f64a ps10\">Date d'\u00e9ch\u00e9ance<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a ps13834\">24 septembre 2025<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Nominal maximal \u00e0 acqu\u00e9rir </span><span class=\"f charStyle-a8abcdde ps35225\">(en millions d'euros)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:66.67pt\"></span></span><span class=\"ps35226\">25<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Actions propres livr\u00e9es </span><span class=\"f charStyle-a8abcdde ps35227\">(en nombre d'actions)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:40.31pt\"></span></span><span class=\"ps35228\">2\u00a0584\u00a0352<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1467\"><div><div class=\"ps746 ss1466\"><span class=\"f charStyle-165dec60 ps10\">Cours moyen </span><span class=\"f charStyle-a8abcdde ps35229\">(en euros par action)</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10376 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:60.04pt\"></span></span><span class=\"ps35230\">9,67<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-560": {
   "value": "25000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "valeo:ProgrammeDeRachatDActionsTotal",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-06-17T00:00:00/2025-06-18T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-561": {
   "value": "<div class=\"ps35232 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">11.1.2<span id=\"i7558bc1de2ed40f19b02af18ff856e46\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps35231\"><span style=\"display:inline-block;height:8.71pt;width:13.45pt\"></span></span><span class=\"ps29285\">\u00c9carts de conversion</span></span></div><div class=\"ps21258 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:279.06pt\">La variation des \u00e9carts de conversion (part du Groupe) sur l\u2019exercice est </span><span class=\"f charStyle-165dec60 ps35233\" style=\"width:67.2pt\">une perte latente</span><span class=\"f charStyle-165dec60 ps35234\" style=\"width:15.35pt\"> de </span><span class=\"f charStyle-165dec60 ps35235\" style=\"width:13.97pt\">584</span><span class=\"f charStyle-165dec60 ps35236\" style=\"width:105.63pt\"> millions d\u2019euros (contre un</span><span class=\"f charStyle-165dec60 ps1722\" style=\"width:1.96pt\"> </span></div><div class=\"ps12036 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:43.67pt\">gain latent</span><span class=\"f charStyle-165dec60 ps11813\" style=\"width:19.47pt\"> de </span><span class=\"f charStyle-367d076b ps35237\" style=\"width:10.12pt\">101</span><span class=\"f charStyle-367d076b ps11680\" style=\"width:84.52pt\">\u00a0millions d\u2019euros au </span><span class=\"f charStyle-367d076b ps35238\" style=\"width:72.83pt\">31\u00a0d\u00e9cembre 2024</span><span class=\"f charStyle-367d076b ps35239\" style=\"width:250.59pt\">). Cette perte refl\u00e8te principalement l'incidence d\u00e9favorable de</span><span class=\"f charStyle-367d076b ps1231\" style=\"width:1.88pt\"> </span></div><div class=\"ps12037 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-367d076b ps275\" style=\"width:193.55pt\">l\u2019appr\u00e9ciation de l\u2019euro vis-\u00e0-vis du dollar am\u00e9ricain</span><span class=\"f charStyle-81993cb5 ps35240\" style=\"width:287.7pt\"> pour 228 millions d'euros, du renminbi chinois pour 179 millions d'euros, du</span><span class=\"f charStyle-81993cb5 ps719\" style=\"width:1.87pt\"> </span></div><div class=\"ps12039 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:61.01pt\">won sud-cor\u00e9en</span><span class=\"f charStyle-81993cb5 ps35241\" style=\"width:91.27pt\"> pour 76 millions d\u2019euros </span><span class=\"f charStyle-165dec60 ps35242\" style=\"width:72.19pt\">, et du yen japonais</span><span class=\"f charStyle-81993cb5 ps35243\" style=\"width:92.92pt\"> pour 69 millions d\u2019euros .</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-562": {
   "value": "-584000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-563": {
   "value": "101000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:OtherComprehensiveIncome",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "ifrs-full:ComponentsOfEquityAxis": "ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember",
    "unit": "iso4217:EUR"
   }
  },
  "f-564": {
   "value": "<div class=\"ps35245 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-b11f9a65 ps275\">11.1.3<span id=\"i7f0b1e867a4343369853de82630a68c8\"></span></span><span class=\"f charStyle-b11f9a65\"><span class=\"ps35244\"><span style=\"display:inline-block;height:8.71pt;width:13.44pt\"></span></span><span class=\"ps29285\">Participations ne donnant pas le contr\u00f4le</span></span></div><div class=\"ps35247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:298.88pt\">L\u2019\u00e9volution des participations ne donnant pas le contr\u00f4le s\u2019analyse comme suit\u00a0:</span><span class=\"f charStyle-165dec60 ps35246\" style=\"width:1.96pt\"> </span></div><div class=\"ps35264 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss191 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1865\"><div><div class=\"ps10243 ss1864\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps24118 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps27734 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE AU 1</span><span class=\"f charStyle-f4bb8995 ps35248\"><sup>er</sup></span><span class=\"f charStyle-3f403986 ps35249\"> JANVIER<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps24121 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps34597\">796<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps27737 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps35250\">785<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Quote-part de r\u00e9sultat<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24126 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28334\">55<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27740 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28336\">72<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Dividendes vers\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps24133 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28204\">(40)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27743 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35251\">(42)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Variations de p\u00e9rim\u00e8tre<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27745 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27747 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35033\">6<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:21.75pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss2202\"><div><div class=\"ps35252 ss1864\"><span class=\"f charStyle-044fe383 ps10\">Ajustements de juste valeur des options de ventes accord\u00e9es aux d\u00e9tenteurs </span></div><div class=\"ps35254 ss1864\"><span class=\"f charStyle-044fe383 ps10\">de\u00a0participations ne donnant pas le contr\u00f4le </span><span class=\"f charStyle-4da12822 ps35253\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27748 ss2203\"><div><div class=\"ps145 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps27750 ss2203\"><div><div class=\"ps145 ss670\"><span class=\"f charStyle-a696f64a ps13525\">(2)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps571 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">Autres mouvements<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35255 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35034\">4<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35257 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35256\">(11)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3804 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-a696f64a ps10\">\u00c9carts de conversion<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35259 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35258\">(65)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35261 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35260\">(12)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8556 ss1865\"><div><div class=\"ps746 ss1864\"><span class=\"f charStyle-3f403986 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE AU 31 D\u00c9CEMBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35262 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps30693\">750<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35263 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-3f403986 ps34597\">796<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35266 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:9.94pt\">Cf. </span><span class=\"f charStyle-776a1ec6 ps34931\" style=\"width:35.38pt\">Note 9.1.2.2</span><span class=\"f charStyle-776a1ec6 ps35265\" style=\"width:33.6pt\">, page 431.</span></div><div class=\"ps21170 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:384.56pt\">Les participations ne donnant pas le contr\u00f4le se d\u00e9composent principalement de la mani\u00e8re suivante\u00a0:</span></div><div class=\"ps35308 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse: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:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td></tr><tr style=\"height:41.25pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps35272 ss2204\"><div><div class=\"ps27459 ss1066\"><span class=\"f charStyle-98f46611 ps35267\">Pourcentage d'int\u00e9r\u00eats </span></div><div class=\"ps35268 ss1066\"><span class=\"f charStyle-98f46611 ps11499\">d\u00e9tenus\u00a0par\u00a0les\u00a0participations </span></div><div class=\"ps35269 ss1066\"><span class=\"f charStyle-98f46611 ps14715\">ne\u00a0donnant\u00a0pas\u00a0le contr\u00f4le<span class=\"f ps53\"> </span></span></div><div class=\"ps35271 ss1066\"><span class=\"f charStyle-a8abcdde ps35270\">(en %)</span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10276 ss2204\"><div><div class=\"ps27459 ss1066\"><span class=\"f charStyle-98f46611 ps35273\">Capitaux propres - Part </span></div><div class=\"ps35268 ss1066\"><span class=\"f charStyle-98f46611 ps35274\">des\u00a0participations ne donnant <span class=\"f ps53\"> </span></span></div><div class=\"ps35269 ss1066\"><span class=\"f charStyle-98f46611 ps35275\">pas\u00a0le\u00a0contr\u00f4le<span class=\"f ps53\"> </span></span></div><div class=\"ps35271 ss1066\"><span class=\"f charStyle-a8abcdde ps11197\">(en millions d\u2019euros)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:24pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35278 ss1796\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-6bef0edd ps35276\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss875\"><span class=\"f charStyle-6bef0edd ps35277\">2025</span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35279 ss1796\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-ae6044e9 ps35276\">31\u00a0d\u00e9cembre <span class=\"f ps53\"> </span></span></div><div class=\"ps523 ss875\"><span class=\"f charStyle-ae6044e9 ps28563\">2024</span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35280 ss1796\"><div><div class=\"ps523 ss875\"><span class=\"f charStyle-6bef0edd ps35277\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35281 ss1796\"><div><div class=\"ps523 ss875\"><span class=\"f charStyle-ae6044e9 ps28563\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps4545 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-044fe383 ps10\">Pyeong Hwa Company\u00a0</span><span class=\"f charStyle-4da12822 ps35282\"><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35283 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31970\"></span><span class=\"ps31970\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35284 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps31970\"></span><span class=\"ps31970\">50,0<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35286 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps35285\">537<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35287 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps30546\">571<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps8277 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-a696f64a ps10\">Entit\u00e9s de l'Alliance Chine Ichikoh<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35289 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35288\"></span><span class=\"ps35288\">5,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35290 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps35288\"></span><span class=\"ps35288\">5,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35291 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps27477\">28<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35293 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps35292\">43<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"background-color:#ffffff;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps11521 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-a696f64a ps10\">Autres entit\u00e9s Ichikoh <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35294 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps5490\"></span><span class=\"ps5490\">38,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35295 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps5490\"></span><span class=\"ps5490\">38,8<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35296 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps30546\">157<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35297 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a ps27613\">150<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3703 ss2207\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-044fe383 ps10\">Autres participations individuellement </span></div><div class=\"ps748 ss2205\"><span class=\"f charStyle-044fe383 ps10\">non\u00a0significatives<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35299 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35298\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35300 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35298\">n.a.<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35301 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps27477\">28<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35303 ss896\"><div><div class=\"ps6851 ss875\"><span class=\"f charStyle-a696f64a ps35302\">32<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps22751 ss2206\"><div><div class=\"ps746 ss2205\"><span class=\"f charStyle-f573b8b5 ps10\">PARTICIPATIONS NE DONNANT PAS LE CONTR\u00d4LE <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35305 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35304\">750<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35307 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35306\">796<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span>Pyeong Hwa Company est le partenaire historique dans les entit\u00e9s Valeo Pyeong Hwa et Valeo-Kapec notamment en Cor\u00e9e.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-565": {
   "value": "<div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:69.45pt\">Le r\u00e9sultat net de <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35310\" style=\"width:34.56pt\">l'exercice<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35311\" style=\"width:113.98pt\"> par action (avant dilution) est<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.91pt\">calcul\u00e9 en faisant le rapport entre le r\u00e9sultat net et le<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps444\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:29.25pt\">nombre<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps543\" style=\"width:10pt\"> m</span><span class=\"f charStyle-81f42323 ps4924\" style=\"width:178.7pt\">oyen pond\u00e9r\u00e9 d\u2019actions en circulation au cours de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps425\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:32.76pt\">l'exercice</span><span class=\"f charStyle-81f42323 ps26863\" style=\"width:1.41pt\">,</span><span class=\"f charStyle-165dec60 ps35312\" style=\"width:183.77pt\"> apr\u00e8s d\u00e9duction du nombre moyen d\u2019actions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps610\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:54.27pt\">autod\u00e9tenues.</span><span class=\"f charStyle-165dec60 ps35313\" style=\"width:1.96pt\"> </span></div><div class=\"ps9632 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:68.53pt\">Le r\u00e9sultat net de </span><span class=\"f charStyle-165dec60 ps35314\" style=\"width:34.56pt\">l'exercice</span><span class=\"f charStyle-165dec60 ps35315\" style=\"width:114.81pt\"> dilu\u00e9 par action est calcul\u00e9 en</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps9633 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.91pt\">faisant le rapport entre le r\u00e9sultat net et le nombre</span><span class=\"f charStyle-165dec60 ps444\" style=\"width:1.96pt\"> </span></div><div class=\"ps9634 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">moyen pond\u00e9r\u00e9 d\u2019actions ordinaires en circulation major\u00e9</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9635 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">du nombre moyen pond\u00e9r\u00e9 d\u2019actions ordinaires qui</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14898 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.97pt\">auraient \u00e9t\u00e9 en circulation dans l\u2019hypoth\u00e8se d\u2019une</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps14899 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.95pt\">conversion de toutes les actions ordinaires potentielles<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14900 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:33.03pt\">dilutives.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:217.98pt\">Les options d\u2019achat et les actions gratuites ont un effet<span class=\"f ps53\"> </span></span><span class=\"f charStyle-9c680f66 ps16289\" style=\"width:1.93pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps448\" style=\"width:21.52pt\">dilutif</span><span class=\"f charStyle-165dec60 ps35316\" style=\"width:196.38pt\"> d\u00e8s lors que leur prix d\u2019exercice est inf\u00e9rieur au prix</span><span class=\"f charStyle-165dec60 ps29741\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">du march\u00e9. Cette m\u00e9thode dite du \u00ab\u00a0rachat d\u2019actions\u00a0\u00bb</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.98pt\">permet de d\u00e9terminer les actions \u00ab\u00a0non rachet\u00e9es\u00a0\u00bb qui</span><span class=\"f charStyle-165dec60 ps16289\" style=\"width:1.96pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:37.18pt\">viennent </span><span class=\"f charStyle-81f42323 ps35317\" style=\"width:180.8pt\">s\u2019ajouter aux actions ordinaires en circulation et<span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps16289\" style=\"width:1.78pt\"> <span class=\"f ps53\"> </span></span></div><span class=\"f charStyle-81f42323 ps448\" style=\"width:54.81pt\">qui constituent<span class=\"f ps53\"> </span></span> ainsi l\u2019effet dilutif.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-566": {
   "value": "<div class=\"ps727 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"idebc8070212540bf9103a81252d9c9f6\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">12<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35334\"><span style=\"display:inline-block;height:13.55pt;width:31.09pt\"></span></span></span><span class=\"f charStyle-26f8f9e5 ps29233\">D\u00e9tail</span><span class=\"f charStyle-26f8f9e5 ps35335\"> des flux de tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div><div class=\"ps29561 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">12.1<span id=\"i956d17fc7675411695a27f74b9bd0539\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps35055\"><span style=\"display:inline-block;height:10.16pt;width:25.36pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Charges (produits) sans effet sur la tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div><div class=\"ps29595 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:251.64pt\">Les charges et produits sans effet sur la tr\u00e9sorerie, sur les exercices </span><span class=\"f charStyle-165dec60 ps35336\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35337\" style=\"width:11.49pt\"> et </span><span class=\"f charStyle-165dec60 ps35338\" style=\"width:18.41pt\">2024</span><span class=\"f charStyle-165dec60 ps29657\" style=\"width:95.65pt\">, s\u2019analysent comme suit\u00a0:</span></div><div class=\"ps30807 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Dotations aux amortissements et d\u00e9pr\u00e9ciations sur immobilisations<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35339\">2\u00a0088<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35340\">1\u00a0989<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Dotations (reprises) nettes sur provisions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18382 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps10310\">13<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps26252\">(112)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Pertes (profits) sur cessions d'actifs immobilis\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10359 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps11801\">(34)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35341\">30<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10361 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Charges calcul\u00e9es li\u00e9es aux paiements en actions<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10368 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35342\">32<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps29460\">22<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10370 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Pertes (profits) sur placements long terme<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10375 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35342\">23<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10376 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35046\">2<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps3789 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">(Plus) ou moins-value sur actifs destin\u00e9s \u00e0 \u00eatre c\u00e9d\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10379 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35041\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10380 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps1686\">0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10381 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">(Plus) ou moins-value sur participations ant\u00e9rieurement d\u00e9tenues<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10384 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35256\">(11)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10385 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35343\">(71)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps573 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Autres pertes (profits) sans effet sur la tr\u00e9sorerie<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28278 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28279\">21<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps28280 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28102\">(25)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps17292 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35345 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps35344\">2\u00a0132<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35346 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps7422\">1\u00a0835<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps15616 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">12.2<span id=\"idc287407e856478babef8a0024decead\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps35347\"><span style=\"display:inline-block;height:10.16pt;width:23.28pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Variation du besoin en fonds de roulement<span class=\"f ps53\"> </span></span></div><div class=\"ps7130 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:116.98pt\">Les variations, sur les exercices </span><span class=\"f charStyle-165dec60 ps35348\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35349\" style=\"width:11.49pt\"> et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35350\" style=\"width:18.41pt\">2024<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35351\" style=\"width:279.46pt\">, des principaux postes du besoin en fonds de roulement sont les suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps29295 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:318.75pt\"></td><td style=\"padding:0;width:81pt\"></td><td style=\"padding:0;width:81pt\"></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss1410\"><div><div class=\"ps10243 ss1409\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10313 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-6bef0edd ps18377\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps18378 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-ae6044e9 ps18376\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Stocks<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10316 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35352\">119<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps10317 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35353\">251<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps519 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Cr\u00e9ances clients et autres cr\u00e9ances d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18382 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35354\">(405)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps18384 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps574\">186<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss1410\"><div><div class=\"ps509 ss1409\"><span class=\"f charStyle-a696f64a ps10\">Dettes fournisseurs et autres dettes d'exploitation<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10359 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps35355\">(16)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10360 ss671\"><div><div class=\"ps509 ss670\"><span class=\"f charStyle-a696f64a ps28334\">55<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10361 ss1410\"><div><div class=\"ps746 ss1409\"><span class=\"f charStyle-96b05324 ps10\">TOTAL<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10368 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps35356\">(301)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps10369 ss671\"><div><div class=\"ps746 ss670\"><span class=\"f charStyle-96b05324 ps35357\">492<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35358 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.32pt\">La variation d\u00e9favorable du besoin en fonds de roulement au</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps35360 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:152.06pt\">cours de l'exercice 2025 r\u00e9sulte</span><span class=\"f charStyle-165dec60 ps35359\" style=\"width:77.26pt\"> notamment de</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps35361 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">compensations clients n\u00e9goci\u00e9es au cours de l\u2019exercice qui</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps35364 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:199.75pt\">n\u2019ont pas encore \u00e9t\u00e9 encaiss\u00e9es au 31 d\u00e9cembre 2025</span><span class=\"f charStyle-49b068b5 ps35362\" style=\"width:1.49pt\">.</span><span class=\"f charStyle-49b068b5 ps35363\" style=\"width:1.86pt\"> </span></div><div class=\"ps6307 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:229.28pt\">Le montant des cr\u00e9ances c\u00e9d\u00e9es dont l\u2019\u00e9ch\u00e9ance est</span><span class=\"f charStyle-d96cb356 ps610\" style=\"width:1.92pt\"> </span></div><div class=\"ps6308 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-d96cb356 ps275\" style=\"width:42.68pt\">post\u00e9rieure</span><span class=\"f charStyle-165dec60 ps35365\" style=\"width:16.38pt\"> au </span><span class=\"f charStyle-165dec60 ps35366\" style=\"width:70.46pt\">31\u00a0d\u00e9cembre 2025</span><span class=\"f charStyle-165dec60 ps35367\" style=\"width:99.81pt\">, pour lesquelles la quasi-<span class=\"f ps53\"> </span></span></div><div class=\"ps6309 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">totalit\u00e9 des risques et\u00a0avantages a \u00e9t\u00e9 transf\u00e9r\u00e9e et qui ne</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps6310 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.24pt\">figurent donc plus \u00e0 l\u2019actif de l\u2019\u00e9tat de la situation financi\u00e8re</span><span class=\"f charStyle-165dec60 ps429\" style=\"width:1.96pt\"> </span></div><div class=\"ps6311 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:58.05pt\">est indiqu\u00e9 en </span><span class=\"f charStyle-165dec60 ps35368\" style=\"width:31.24pt\">Note 5.2</span><span class=\"f charStyle-165dec60 ps35369\" style=\"width:140pt\">, pages 397 et 398 pour les\u00a0cr\u00e9ances</span><span class=\"f charStyle-165dec60 ps425\" style=\"width:1.96pt\"> </span></div><div class=\"ps35371 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:48.7pt\">clients et en <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35370\" style=\"width:36.6pt\">Note\u00a05.5.2</span><span class=\"f charStyle-165dec60 ps14923\" style=\"width:144pt\">, page 401 pour les cr\u00e9ances de Cr\u00e9dit</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps35372 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:148.38pt\">d\u2019Imp\u00f4t Recherche et de Cr\u00e9dit de TVA.</span></div><div class=\"ps35373 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">12.3<span id=\"i8634064597c14b7c8d2570a4e3fa2529\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps15731\"><span style=\"display:inline-block;height:10.16pt;width:23.26pt\"></span></span></span><span class=\"f charStyle-25177d68 ps408\">Cessions de participations <span class=\"f ps53\"> </span></span></div><div class=\"ps35374 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps2788\">avec\u00a0perte de contr\u00f4le, nettes </span></div><div class=\"ps35375 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps2788\">de\u00a0la\u00a0tr\u00e9sorerie\u00a0c\u00e9d\u00e9e<span class=\"f ps53\"> </span></span></div><div class=\"ps34318 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:15.97pt\">En </span><span class=\"f charStyle-165dec60 ps35376\" style=\"width:17.7pt\">2025<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35377\" style=\"width:88.04pt\">, l'impact positif de <span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35378\" style=\"width:8.97pt\">79<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35379\" style=\"width:98.63pt\"> millions d'euros sur la</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps34320 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:41.19pt\">tr\u00e9sorerie <span class=\"f ps53\"> </span></span><span class=\"f charStyle-6e7624cd ps2033\" style=\"width:188.14pt\">nette du Groupe correspond principalement aux</span><span class=\"f charStyle-6e7624cd ps412\" style=\"width:1.72pt\"> </span></div><div class=\"ps35381 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-6e7624cd ps275\" style=\"width:75.11pt\">cessions des activit\u00e9s</span><span class=\"f charStyle-165dec60 ps35380\" style=\"width:154.2pt\"> de capteurs automobiles pour syst\u00e8mes</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35383 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:69.38pt\">de propulsion (cf. </span><span class=\"f charStyle-165dec60 ps35382\" style=\"width:39.87pt\">Note 3.2.1.1</span><span class=\"f charStyle-165dec60 ps26773\" style=\"width:120.06pt\">, page 392), pi\u00e8ces d\u00e9cor\u00e9es en</span><span class=\"f charStyle-165dec60 ps418\" style=\"width:1.96pt\"> </span></div><div class=\"ps35384 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">Malaisie (cf. Note 3.2.1.3, page 392) et de la filiale gestigon</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps35386 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:121.9pt\">GmbH (cf. Note 3.2.1.2, page 392).</span><span class=\"f charStyle-165dec60 ps35385\" style=\"width:1.96pt\"> </span></div><div class=\"ps34325 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">En 2024, l\u2019impact positif de 211 millions d\u2019euros sur la</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34326 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.3pt\">tr\u00e9sorerie nette du Groupe correspondait principalement</span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> </span></div><div class=\"ps34328 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:229.33pt\">aux cessions de l\u2019activit\u00e9 Syst\u00e8mes thermiques v\u00e9hicules</span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> </span></div><div class=\"ps34329 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:142.14pt\">commerciaux et de PIAA Corporation.</span></div><div class=\"ps35389 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps448\">12.4<span id=\"ib1dd2eddcf3844cba65d68b615f6bdf8\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps35388\"><span style=\"display:inline-block;height:10.16pt;width:22.24pt\"></span></span></span><span class=\"f charStyle-25177d68 ps29267\">Souscriptions et </span></div><div class=\"ps35391 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps29419\">remboursements </span><span class=\"f charStyle-6e4eb2cf ps35390\">effectu\u00e9s </span></div><div class=\"ps35392 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-6e4eb2cf ps29419\">sur\u00a0emprunts \u00e0\u00a0long\u00a0terme<span class=\"f ps53\"> </span></span></div><div class=\"ps35395 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:5.01pt\">E</span><span class=\"f charStyle-165dec60 ps2505\" style=\"width:11.1pt\">n </span><span class=\"f charStyle-165dec60 ps35393\" style=\"width:17.7pt\">2025</span><span class=\"f charStyle-165dec60 ps35394\" style=\"width:195.46pt\"> les flux nets de tr\u00e9sorerie sur op\u00e9rations de</span><span class=\"f charStyle-165dec60 ps455\" style=\"width:1.96pt\"> </span></div><div class=\"ps35396 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:84.95pt\">financement incluent :</span></div><div class=\"ps19409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps930\" style=\"width:222.23pt\">des remboursements sur emprunts long terme de</span><span class=\"f charStyle-4afdd138 ps639\" style=\"width:1.9pt\"> </span></div><div class=\"ps19412 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps930\" style=\"width:20.55pt\">1\u00a0848</span><span class=\"f charStyle-4afdd138 ps28020\" style=\"width:32.52pt\">\u00a0millions</span><span class=\"f charStyle-165dec60 ps19024\" style=\"width:169.13pt\"> d'euros correspondant pour l'essentiel aux</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:1.96pt\"> </span></div><div class=\"ps19414 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:74.08pt\">remboursements d</span><span class=\"f charStyle-81f42323 ps28022\" style=\"width:148.12pt\">e (i) deux emprunts obligataires de 600</span><span class=\"f charStyle-81f42323 ps467\" style=\"width:1.78pt\"> </span></div><div class=\"ps19415 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps930\" style=\"width:167.31pt\">millions d'euros chacun \u00e9mis en\u00a02016 et 2018</span><span class=\"f charStyle-9c680f66 ps28023\" style=\"width:54.93pt\"> dans le cadre</span><span class=\"f charStyle-9c680f66 ps450\" style=\"width:1.93pt\"> </span></div><div class=\"ps34773 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-9c680f66 ps930\" style=\"width:167.41pt\">du programme de financement \u00e0 moyen </span><span class=\"f charStyle-165dec60 ps28024\" style=\"width:32.42pt\">et long </span><span class=\"f charStyle-42e3db84 ps28025\" style=\"width:22.35pt\">terme</span><span class=\"f charStyle-42e3db84 ps455\" style=\"width:1.82pt\"> </span></div><div class=\"ps35398 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-e49292b3 ps930\" style=\"width:111.76pt\">Euro Medium Term Note,</span><span class=\"f charStyle-42e3db84 ps28026\" style=\"width:16.77pt\"> (ii)</span><span class=\"f charStyle-42e3db84 ps35397\" style=\"width:8.39pt\">\u00a0</span><span class=\"f charStyle-165dec60 ps28027\" style=\"width:85.3pt\">quatre tranches du</span><span class=\"f charStyle-165dec60 ps460\" style=\"width:1.96pt\"> </span></div><div class=\"ps32754 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.23pt\">Schuldschein pour un montant total de 391 millions</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps32757 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:51.58pt\">d\u2019euros, (iii) </span><span class=\"f charStyle-42e3db84 ps35399\" style=\"width:94.86pt\">passifs locatifs reconnus</span><span class=\"f charStyle-165dec60 ps35400\" style=\"width:10.14pt\"> a</span><span class=\"f charStyle-81f42323 ps35401\" style=\"width:65.64pt\">u titre d'IFRS 16</span><span class=\"f charStyle-81f42323 ps460\" style=\"width:1.78pt\"> </span></div><div class=\"ps35403 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps930\" style=\"width:112.66pt\">\u00ab\u00a0Contrats de location\u00a0\u00bb pour </span><span class=\"f charStyle-81f42323 ps28034\" style=\"width:10.65pt\">152</span><span class=\"f charStyle-81f42323 ps28035\" style=\"width:62.29pt\"> millions d'euros,</span><span class=\"f charStyle-165dec60 ps28036\" style=\"width:3.5pt\"> </span><span class=\"f charStyle-165dec60 ps35402\" style=\"width:33.14pt\">(iv) deux</span><span class=\"f charStyle-165dec60 ps450\" style=\"width:3.92pt\">\u00a0 </span></div><div class=\"ps35404 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">\u00e9ch\u00e9ances de 50 millions d'euros sur l'emprunt aupr\u00e8s de</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps35405 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:152.32pt\">la Banque Europ\u00e9enne d'Investissement</span><span class=\"f charStyle-165dec60 ps18203\" style=\"width:3.55pt\"> ;</span></div><div class=\"ps19427 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdc335a ps929\" style=\"width:2.68pt\">\u2022<span class=\"f ps53\"> </span></span><span class=\"f charStyle-5dca4c00 ps930\" style=\"width:222.19pt\">des souscriptions d'emprunts long terme \u00e0 hauteur de</span><span class=\"f charStyle-5dca4c00 ps458\" style=\"width:1.74pt\"> </span></div><div class=\"ps19428 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-5dca4c00 ps930\" style=\"width:21.68pt\">1\u00a0304</span><span class=\"f charStyle-5dca4c00 ps28040\" style=\"width:39.12pt\">\u00a0millions </span><span class=\"f charStyle-7cdffd50 ps28041\" style=\"width:161.39pt\">d'euros, correspondant \u00e0 deux \u00e9missions</span><span class=\"f charStyle-7cdffd50 ps458\" style=\"width:1.77pt\"> </span></div><div class=\"ps19429 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-7cdffd50 ps930\" style=\"width:41.73pt\">obligataires</span><span class=\"f charStyle-165dec60 ps28042\" style=\"width:4.38pt\"> </span><span class=\"f charStyle-e8054d08 ps28043\" style=\"width:47.8pt\">Green Bond</span><span class=\"f charStyle-165dec60 ps28044\" style=\"width:128.32pt\"> de 650 et 500\u00a0millions d'euros</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps29631 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:195.76pt\">respectivement \u00e0 \u00e9ch\u00e9ance mai\u00a02031 et mars 2032. </span><span class=\"f charStyle-165dec60 ps28046\" style=\"width:26.43pt\">Il s'agit</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps35406 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">d\u2019\u00e9missions r\u00e9alis\u00e9es conform\u00e9ment au Cadre de</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps35407 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.21pt\">financement vert et durable de Valeo, les fonds \u00e9tant</span><span class=\"f charStyle-165dec60 ps449\" style=\"width:1.96pt\"> </span></div><div class=\"ps35408 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.23pt\">destin\u00e9s \u00e0 financer des activit\u00e9s qui s'inscrivent dans la</span><span class=\"f charStyle-165dec60 ps639\" style=\"width:1.96pt\"> </span></div><div class=\"ps35409 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.19pt\">taxonomie verte europ\u00e9enne. A cela s\u2019ajoutent la</span><span class=\"f charStyle-165dec60 ps458\" style=\"width:1.96pt\"> </span></div><div class=\"ps35410 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:222.2pt\">souscription durant l\u2019ann\u00e9e de trois emprunts bilat\u00e9raux</span><span class=\"f charStyle-165dec60 ps467\" style=\"width:3.92pt\">\u00a0 </span></div><div class=\"ps35411 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps930\" style=\"width:119.43pt\">de 100, 30 et 25 millions d\u2019euros.</span></div><div class=\"ps1382 ss0\" style=\"font-size:12pt\"><span class=\"f charStyle-25177d68 ps275\">12.5<span id=\"i03cfc003b6044c71ae2b3c40d09436bc_1914\"></span><span id=\"if6e4de2a7c1744c1991e7df6c1970873\"></span></span><span class=\"f charStyle-25177d68\"><span class=\"ps27930\"><span style=\"display:inline-block;height:10.16pt;width:23.23pt\"></span></span></span><span class=\"f charStyle-1cdc8014 ps408\">Free cash flow<span class=\"f ps53\"> </span></span><span class=\"f charStyle-25177d68 ps35413\"> et </span><span class=\"f charStyle-1cdc8014 ps35414\">net cash flow</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:11.89pt\">Le </span><span class=\"f charStyle-e8054d08 ps35416\" style=\"width:36.82pt\">cash flow</span><span class=\"f charStyle-165dec60 ps35417\" style=\"width:169.28pt\"> libre correspond aux flux nets de tr\u00e9sorerie<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des activit\u00e9s op\u00e9rationnelles, apr\u00e8s neutralisation de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.82pt\">variation <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34008\" style=\"width:179.15pt\">des cessions de cr\u00e9ances commerciales non</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.92pt\">r\u00e9currentes et apr\u00e8s prise en compte des acquisitions et</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:96.87pt\">cessions d\u2019immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35418\" style=\"width:121.09pt\"> incorporelles et corporelles, de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:107.25pt\">la part consid\u00e9r\u00e9e comme r</span><span class=\"f charStyle-73c14ed6 ps35419\" style=\"width:110.7pt\">emboursement du capital des</span><span class=\"f charStyle-73c14ed6 ps425\" style=\"width:1.75pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.94pt\">paiements locatifs et des int\u00e9r\u00eats financiers nets. Cet<span class=\"f ps53\"> </span></span><span class=\"f charStyle-73c14ed6 ps610\" style=\"width:1.75pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:36.32pt\">indicateur</span><span class=\"f charStyle-4afdd138 ps35420\" style=\"width:86.58pt\">, qui traduit la capacit\u00e9</span><span class=\"f charStyle-165dec60 ps35421\" style=\"width:95.03pt\"> du Groupe \u00e0 g\u00e9n\u00e9rer de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la tr\u00e9sorerie par ses activit\u00e9s op\u00e9rationnelles, est pris en</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">compte par la Direction G\u00e9n\u00e9rale pour d\u00e9finir sa strat\u00e9gie<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.01pt\">d'investissement et sa politique de financement.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:11.16pt\">Le <span class=\"f ps53\"> </span></span><span class=\"f charStyle-824bd408 ps35422\" style=\"width:35.73pt\">cash flow</span><span class=\"f charStyle-4afdd138 ps35423\" style=\"width:73.6pt\"> net correspond au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-824bd408 ps35424\" style=\"width:35.73pt\">cash flow<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps35425\" style=\"width:61.72pt\"> libre apr\u00e8s prise<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.97pt\">en compte (i) des flux d\u2019investissements relatifs aux</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:44.2pt\">acquisitions</span><span class=\"f charStyle-165dec60 ps21322\" style=\"width:173.76pt\"> et cessions de participations et \u00e0 la variation</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.94pt\">de certains \u00e9l\u00e9ments inscrits en actifs financiers non</span><span class=\"f charStyle-2c17c7c1 ps16283\" style=\"width:1.94pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.95pt\">courants, (ii) des flux sur op\u00e9rations de financement</span><span class=\"f charStyle-2c17c7c1 ps16281\" style=\"width:1.94pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.95pt\">relatifs au capital, aux dividendes vers\u00e9s, aux ventes</span><span class=\"f charStyle-2c17c7c1 ps16281\" style=\"width:1.94pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:28.93pt\">(rachat)</span><span class=\"f charStyle-165dec60 ps35426\" style=\"width:188.99pt\"> d\u2019actions propres, aux frais et primes li\u00e9s aux</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9missions d\u2019emprunts, et aux rachats de participations</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">sans prise de contr\u00f4le et (iii) de la variation des cessions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:164.35pt\">de cr\u00e9ances commerciales non r\u00e9currentes.<span class=\"f ps53\"> </span></span></div><div class=\"ps7313 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-317b3c10 ps275\" style=\"width:182.34pt\">Au 31 d\u00e9cembre 2025, le Groupe a revu sa d\u00e9finition du </span><span class=\"f charStyle-e8d4f8c5 ps35427\" style=\"width:33.29pt\">cash flow </span><span class=\"f charStyle-317b3c10 ps35428\" style=\"width:154.52pt\">libre en y int\u00e9grant les flux d\u2019int\u00e9r\u00eats financiers..</span></div><div class=\"ps4973 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-317b3c10 ps275\" style=\"width:9.55pt\">Le </span><span class=\"f charStyle-e8d4f8c5 ps35429\" style=\"width:31.78pt\">cash flow<span class=\"f ps53\"> </span></span><span class=\"f charStyle-317b3c10 ps35430\" style=\"width:32.73pt\"> libre et le <span class=\"f ps53\"> </span></span><span class=\"f charStyle-e8d4f8c5 ps35431\" style=\"width:31.78pt\">cash flow</span><span class=\"f charStyle-317b3c10 ps35432\" style=\"width:327.67pt\"> net se r\u00e9concilient comme suit avec les donn\u00e9es du tableau des flux de tr\u00e9sorerie consolid\u00e9s entre\u00a0</span><span class=\"f charStyle-317b3c10 ps35433\" style=\"width:15.9pt\">2025</span><span class=\"f charStyle-317b3c10 ps35434\" style=\"width:9.69pt\"> et <span class=\"f ps53\"> </span></span><span class=\"f charStyle-317b3c10 ps16528\" style=\"width:16.61pt\">2024</span><span class=\"f charStyle-317b3c10 ps35435\" style=\"width:2.65pt\">\u00a0:</span></div><div class=\"ps35503 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:341.25pt\"></td><td style=\"padding:0;width:69.75pt\"></td><td style=\"padding:0;width:69.75pt\"></td></tr><tr style=\"height:12.75pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps1 ss2209\"><div><div class=\"ps35436 ss662\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps10276 ss2210\"><div><div class=\"ps9316 ss875\"><span class=\"f charStyle-6bef0edd ps35277\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps35437 ss2210\"><div><div class=\"ps9316 ss875\"><span class=\"f charStyle-ae6044e9 ps28563\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps9317 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Capacit\u00e9 d'autofinancement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35439 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35438\">2\u00a0877<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35440 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps32826\">2\u00a0422<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35441 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Imp\u00f4ts vers\u00e9s<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35443 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35442\">(287)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35445 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35444\">(227)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35446 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Variation du besoin en fonds de roulement<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35448 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35447\">(301)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35450 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35449\">492<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16829 ss663\"><div><div class=\"ps746 ss662\"><span class=\"f charStyle-3f403986 ps10\">FLUX NETS DE TR\u00c9SORERIE DES ACTIVIT\u00c9S OP\u00c9RATIONNELLES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35452 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-3f403986 ps35451\">2\u00a0289<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35453 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-3f403986 ps3503\">2\u00a0687<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35454 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-0e45555a ps10\">D\u00e9caissements nets sur acquisitions d'immobilisations incorporelles et corporelles<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35455 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps32341\">(1\u00a0639)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35457 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35456\">(2\u00a0136)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22927 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Remboursements du principal du passif locatif, nets <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35459 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35458\">(152)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35461 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35460\">(135)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35463 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-044fe383 ps10\">Neutralisation de la variation des cessions de cr\u00e9ances clients non-r\u00e9currentes </span><span class=\"f charStyle-4da12822 ps35462\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35465 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35464\">91<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35466 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps5429\">65<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps524 ss663\"><div><div class=\"ps746 ss662\"><span class=\"f charStyle-96b05324 ps10\">CASH FLOW LIBRE AVANT FRAIS FINANCIERS NETS<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35467 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35304\">589<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35469 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35468\">481<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps26205 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Int\u00e9r\u00eats financiers nets (vers\u00e9s et re\u00e7us)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35471 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35470\">(218)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35472 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps28732\">(234)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps9788 ss663\"><div><div class=\"ps746 ss662\"><span class=\"f charStyle-96b05324 ps10\">CASH FLOW LIBRE<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35474 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35473\">371<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35475 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps15718\">247<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35477 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-044fe383 ps10\">Variation des cessions de cr\u00e9ances clients non-r\u00e9currentes </span><span class=\"f charStyle-4da12822 ps35476\"><span class=\"f ps53\"> </span><sup>(1)</sup></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35479 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35478\">(91)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35481 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35480\">(65)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10046 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Variation nette des actifs financiers non courants <span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps16656 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps34053\">(8)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35482 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps552\">(27)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35483 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Acquisitions de participations dans les entreprises associ\u00e9es et/ou coentreprises<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35485 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:58.75pt\"></span></span><span class=\"ps35484\">(1)</span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35487 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-a696f64a\"><span class=\"ps10\"><span style=\"display:inline-block;height:7.26pt;width:56.41pt\"></span></span><span class=\"ps35486\">\u2014<span style=\"display:inline-block;height:7.26pt;width:2.46pt\"></span></span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps4620 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Cessions de participations avec perte de contr\u00f4le, nettes de la tr\u00e9sorerie c\u00e9d\u00e9e<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35489 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35488\">79<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35490 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35163\">211<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23291 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-0e45555a ps10\">Dividendes vers\u00e9s aux actionnaires de la Soci\u00e9t\u00e9 et aux minoritaires des filiales int\u00e9gr\u00e9es<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35492 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35491\">(143)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35494 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35493\">(139)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23297 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Augmentation de capital en num\u00e9raire<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35495 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps28382\">8<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35496 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps15239\">0<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps23700 ss663\"><div><div class=\"ps509 ss662\"><span class=\"f charStyle-a696f64a ps10\">Vente (rachat) d'actions propres<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35498 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35497\">(25)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35499 ss1792\"><div><div class=\"ps509 ss875\"><span class=\"f charStyle-a696f64a ps35497\">(25)<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps23983 ss663\"><div><div class=\"ps746 ss662\"><span class=\"f charStyle-96b05324 ps10\">CASH FLOW NET<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35500 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps23394\">190<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35502 ss1792\"><div><div class=\"ps746 ss875\"><span class=\"f charStyle-96b05324 ps35501\">202<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps35504 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps275\" style=\"width:6.6pt\">(1)<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.12pt\">Valeo proc\u00e8de \u00e0 des op\u00e9rations r\u00e9currentes et ponctuelles de cessions de cr\u00e9ances commerciales aupr\u00e8s d\u2019\u00e9tablissements bancaires. Les<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps458\" style=\"width:1.7pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps35505 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.14pt\">op\u00e9rations ponctuelles, ou non-r\u00e9currentes, font l\u2019objet d\u2019un contrat \u00e0 une date donn\u00e9e\u00a0; les op\u00e9rations r\u00e9currentes font l\u2019objet d\u2019un contrat</span><span class=\"f charStyle-776a1ec6 ps449\" style=\"width:1.7pt\"> </span></div><div class=\"ps35506 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:467.05pt\">d\u2019une dur\u00e9e d\u2019un an ou plus. Chaque contrat est analys\u00e9 conform\u00e9ment aux principes d\u2019IFRS 9 sur la d\u00e9comptabilisation des actifs financiers</span><span class=\"f charStyle-776a1ec6 ps8606\" style=\"width:1.7pt\"> </span></div><div class=\"ps35509 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-776a1ec6 ps269\" style=\"width:295.3pt\">pour \u00e9valuer le transfert des risques et avantages inh\u00e9rents \u00e0 la propri\u00e9t\u00e9 de ces cr\u00e9ances<span class=\"f ps53\"> </span></span><span class=\"f charStyle-776a1ec6 ps35507\" style=\"width:12.75pt\"> (cf. </span><span class=\"f charStyle-776a1ec6 ps35508\" style=\"width:26.33pt\">Note 5.2</span><span class=\"f charStyle-776a1ec6 ps931\" style=\"width:61.74pt\">, pages 397 et 398).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-567": {
   "value": "79000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-568": {
   "value": "1848000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:RepaymentsOfNoncurrentBorrowings",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-569": {
   "value": "1304000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:ProceedsFromNoncurrentBorrowings",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f-570": {
   "value": "<div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:11.89pt\">Le </span><span class=\"f charStyle-e8054d08 ps35416\" style=\"width:36.82pt\">cash flow</span><span class=\"f charStyle-165dec60 ps35417\" style=\"width:169.28pt\"> libre correspond aux flux nets de tr\u00e9sorerie<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps412\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">des activit\u00e9s op\u00e9rationnelles, apr\u00e8s neutralisation de la</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:38.82pt\">variation <span class=\"f ps53\"> </span></span><span class=\"f charStyle-81f42323 ps34008\" style=\"width:179.15pt\">des cessions de cr\u00e9ances commerciales non</span><span class=\"f charStyle-81f42323 ps418\" style=\"width:1.78pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:217.92pt\">r\u00e9currentes et apr\u00e8s prise en compte des acquisitions et</span><span class=\"f charStyle-81f42323 ps410\" style=\"width:1.78pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-81f42323 ps6588\" style=\"width:96.87pt\">cessions d\u2019immobilisations<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps35418\" style=\"width:121.09pt\"> incorporelles et corporelles, de<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:107.25pt\">la part consid\u00e9r\u00e9e comme r</span><span class=\"f charStyle-73c14ed6 ps35419\" style=\"width:110.7pt\">emboursement du capital des</span><span class=\"f charStyle-73c14ed6 ps425\" style=\"width:1.75pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:217.94pt\">paiements locatifs et des int\u00e9r\u00eats financiers nets. Cet<span class=\"f ps53\"> </span></span><span class=\"f charStyle-73c14ed6 ps610\" style=\"width:1.75pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-73c14ed6 ps6588\" style=\"width:36.32pt\">indicateur</span><span class=\"f charStyle-4afdd138 ps35420\" style=\"width:86.58pt\">, qui traduit la capacit\u00e9</span><span class=\"f charStyle-165dec60 ps35421\" style=\"width:95.03pt\"> du Groupe \u00e0 g\u00e9n\u00e9rer de</span><span class=\"f charStyle-165dec60 ps415\" style=\"width:1.96pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.98pt\">la tr\u00e9sorerie par ses activit\u00e9s op\u00e9rationnelles, est pris en</span><span class=\"f charStyle-165dec60 ps431\" style=\"width:1.96pt\"> </span></div><div class=\"ps30246 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:217.96pt\">compte par la Direction G\u00e9n\u00e9rale pour d\u00e9finir sa strat\u00e9gie<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps608\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps30247 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps6588\" style=\"width:182.01pt\">d'investissement et sa politique de financement.</span></div><div class=\"ps9054 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:11.16pt\">Le <span class=\"f ps53\"> </span></span><span class=\"f charStyle-824bd408 ps35422\" style=\"width:35.73pt\">cash flow</span><span class=\"f charStyle-4afdd138 ps35423\" style=\"width:73.6pt\"> net correspond au <span class=\"f ps53\"> </span></span><span class=\"f charStyle-824bd408 ps35424\" style=\"width:35.73pt\">cash flow<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps35425\" style=\"width:61.72pt\"> libre apr\u00e8s prise<span class=\"f ps53\"> </span></span><span class=\"f charStyle-4afdd138 ps16283\" style=\"width:1.9pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps9055 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:217.97pt\">en compte (i) des flux d\u2019investissements relatifs aux</span><span class=\"f charStyle-4afdd138 ps16278\" style=\"width:1.9pt\"> </span></div><div class=\"ps9058 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-4afdd138 ps448\" style=\"width:44.2pt\">acquisitions</span><span class=\"f charStyle-165dec60 ps21322\" style=\"width:173.76pt\"> et cessions de participations et \u00e0 la variation</span><span class=\"f charStyle-165dec60 ps16295\" style=\"width:1.96pt\"> </span></div><div class=\"ps9061 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.94pt\">de certains \u00e9l\u00e9ments inscrits en actifs financiers non</span><span class=\"f charStyle-2c17c7c1 ps16283\" style=\"width:1.94pt\"> </span></div><div class=\"ps9064 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.95pt\">courants, (ii) des flux sur op\u00e9rations de financement</span><span class=\"f charStyle-2c17c7c1 ps16281\" style=\"width:1.94pt\"> </span></div><div class=\"ps9065 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:217.95pt\">relatifs au capital, aux dividendes vers\u00e9s, aux ventes</span><span class=\"f charStyle-2c17c7c1 ps16281\" style=\"width:1.94pt\"> </span></div><div class=\"ps9066 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-2c17c7c1 ps448\" style=\"width:28.93pt\">(rachat)</span><span class=\"f charStyle-165dec60 ps35426\" style=\"width:188.99pt\"> d\u2019actions propres, aux frais et primes li\u00e9s aux</span><span class=\"f charStyle-165dec60 ps16293\" style=\"width:1.96pt\"> </span></div><div class=\"ps9068 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.95pt\">\u00e9missions d\u2019emprunts, et aux rachats de participations</span><span class=\"f charStyle-165dec60 ps16281\" style=\"width:1.96pt\"> </span></div><div class=\"ps9069 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps448\" style=\"width:217.94pt\">sans prise de contr\u00f4le et (iii) de la variation des cessions<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps16283\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div>de cr\u00e9ances commerciales non r\u00e9currentes.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "f-571": {
   "value": "<div class=\"ps35512 ss0\" style=\"font-size:14pt\"><span class=\"f charStyle-26f8f9e5 ps275\">Note <span id=\"i8b579adefa504d5b8ee899d4031278e3\"></span></span><span class=\"f charStyle-26f8f9e5 ps29231\">13<span class=\"f ps53\"> </span></span><span class=\"f charStyle-26f8f9e5\"><span class=\"ps35510\"><span style=\"display:inline-block;height:13.55pt;width:31.03pt\"></span></span><span class=\"ps29233\">Honoraires</span></span><span class=\"f charStyle-26f8f9e5 ps35511\"> des commissaires aux comptes</span></div><div class=\"ps13422 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.26pt\">Les honoraires des Commissaires aux comptes du Groupe (hors r\u00e9seau) figurant au compte de r\u00e9sultat consolid\u00e9 pour la soci\u00e9t\u00e9<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps689\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps13423 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:196.25pt\">m\u00e8re Valeo et les filiales fran\u00e7aises sont les suivants\u00a0:<span class=\"f ps53\"> </span></span></div><div class=\"ps35541 ss0\" style=\"text-align:justify;text-align-last:var(--justify)\"><div class=\"ss93 ws0 ps563\"><div><table style=\"border-collapse:collapse;display:inline-table;font-size:initial;padding:0;table-layout:fixed;width:100%\"><tbody><tr style=\"height:0\"><td style=\"padding:0;width:219.75pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td><td style=\"padding:0;width:65.25pt\"></td></tr><tr style=\"height:15pt\"><td style=\"padding:0\"></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps35513 ss1979\"><div><div class=\"ps509 ss1978\"><span class=\"f charStyle-ae6044e9 ps27426\">Ernst &amp; Young<span class=\"f ps53\"> </span></span></div></div></div></td><td colspan=\"2\" style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps28431 ss1979\"><div><div class=\"ps509 ss1978\"><span class=\"f charStyle-ae6044e9 ps35514\">Forvis Mazars SA<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.5pt solid #2c567a;padding:0\"><div class=\"ps513 ss2212\"><div><div class=\"ps10243 ss2211\"><span class=\"f charStyle-9900aeef ps10\">(en millions d'euros)<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35515 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-6bef0edd ps16815\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps35517 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-ae6044e9 ps35516\">2024<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#2c567a;border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps31676 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-6bef0edd ps16815\">2025<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.5pt solid #2c567a;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps16817 ss1227\"><div><div class=\"ps509 ss696\"><span class=\"f charStyle-ae6044e9 ps35516\">2024<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"><div class=\"ps519 ss2212\"><div><div class=\"ps746 ss2211\"><span class=\"f charStyle-3f403986 ps10\">AUDIT<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.5pt solid #2c567a;padding:0\"></td></tr><tr style=\"height:23.25pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10356 ss2213\"><div><div class=\"ps746 ss2211\"><span class=\"f charStyle-a696f64a ps10\">Commissariat aux Comptes, certification, <span class=\"f ps53\"> </span></span></div><div class=\"ps748 ss2211\"><span class=\"f charStyle-a696f64a ps10\">examen\u00a0des\u00a0comptes individuels et consolid\u00e9s</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35519 ss1229\"><div><div class=\"ps6851 ss696\"><span class=\"f charStyle-a696f64a ps35518\">2,0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35520 ss1229\"><div><div class=\"ps6851 ss696\"><span class=\"f charStyle-a696f64a ps35518\">2,0<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps31679 ss1229\"><div><div class=\"ps6851 ss696\"><span class=\"f charStyle-a696f64a ps35521\">1,5<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35523 ss1229\"><div><div class=\"ps6851 ss696\"><span class=\"f charStyle-a696f64a ps35522\">1,6<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps10526 ss2212\"><div><div class=\"ps746 ss2211\" style=\"text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps10\" style=\"width:204.09pt\">Certification des informations en mati\u00e8re de durabilit\u00e9</span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35525 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-a696f64a ps35524\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35526 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-a696f64a ps35524\">\u2014<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35528 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-a696f64a ps35527\">0,5<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.3pt solid #96abbd;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35529 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-a696f64a ps35527\">0,5<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps22743 ss2212\"><div><div class=\"ps746 ss2211\"><span class=\"f charStyle-a696f64a ps10\">Services autres que la certification des comptes<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35531 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-a696f64a ps35530\">0,1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35532 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-a696f64a ps35530\">0,1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35533 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-a696f64a ps35530\">0,1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.3pt solid #96abbd;padding:0\"><div class=\"ps35534 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-a696f64a ps35530\">0,1<span class=\"f ps53\"> </span></span></div></div></div></td></tr><tr style=\"height:15pt\"><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps16440 ss2212\"><div><div class=\"ps746 ss2211\"><span class=\"f charStyle-96b05324 ps10\">TOTAL HONORAIRES<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35536 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-96b05324 ps35535\">2,1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35537 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-96b05324 ps35535\">2,1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"background-color:#eef4f9;border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35538 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-96b05324 ps35535\">2,1<span class=\"f ps53\"> </span></span></div></div></div></td><td style=\"border-bottom:0.7pt solid #82e600;border-top:0.7pt solid #82e600;padding:0\"><div class=\"ps35540 ss1227\"><div><div class=\"ps746 ss696\"><span class=\"f charStyle-96b05324 ps35539\">2,2<span class=\"f ps53\"> </span></span></div></div></div></td></tr></tbody></table></div></div></div><div class=\"ps14253 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:481.22pt\">Les services autres que la certification des comptes fournis par Ernst &amp; Young et Autres et Forvis Mazars SA au Groupe et aux<span class=\"f ps53\"> </span></span><span class=\"f charStyle-165dec60 ps11603\" style=\"width:1.96pt\"> <span class=\"f ps53\"> </span></span></div><div class=\"ps14254 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-165dec60 ps275\" style=\"width:180.58pt\">entit\u00e9s contr\u00f4l\u00e9es g\u00e9n\u00e9ralement concernent (i) <span class=\"f ps53\"> </span></span><span class=\"f charStyle-68ecf294 ps35542\" style=\"width:300.65pt\"><span style=\"background-color:inherit\">des lettres de confort dans le cadre d\u2019\u00e9missions obligataires, (ii) des attestations</span></span><span class=\"f charStyle-68ecf294 ps1296\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><div class=\"ps14255 ss0\" style=\"font-size:12pt;text-align:justify;text-align-last:var(--justify)\"><span class=\"f charStyle-68ecf294 ps275\" style=\"width:481.2pt\"><span style=\"background-color:inherit\">r\u00e9alis\u00e9es dans le cadre de la validation des informations figurant dans des \u00e9tats de d\u00e9penses sur projets subventionn\u00e9s et (iii)</span></span><span class=\"f charStyle-68ecf294 ps1231\" style=\"width:1.96pt\"><span style=\"background-color:inherit\"> </span></span></div><span class=\"f charStyle-68ecf294 ps275\" style=\"width:366.93pt\"><span style=\"background-color:inherit\">des travaux d\u2019audit sur des comptes combin\u00e9s de certaines structures op\u00e9rationnelles du Groupe.</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "fr",
    "entity": "scheme:5493006IH2N2WMIBB742",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  }
 }
}